PSI Real Estate Exam Flashcards

PSI Real Estate Exam Flashcards Suit of Action to Quiet TitleWhat is filed in court to settle a cloud on the title and determine the ownership of real property?BilateralWhat is a type of contract in which two parties are legally bound to act?Open End MortgageWhat is the type of mortgage in which the mortgagor could receive future advances by increasing the debt up to its original amount?Chattels, PersonaltyList two terms that means personal property $2800How much money would be charged as the result of a four point origination fee on a $95,000 property on which there is a $70,000 mortgage?Statue of FraudsWhat is the name of the state law that requires agreements of sale to be in writing?43,560How many square feet are in a acre of land Blue Sky LawsState and federal laws that regulate real estate when it is sold as a security are known by what general name?RedliningWhat is the act called of denying mortgages to applicants from a certain area based on factors other than financial qualification?DebitWhat is any amount of money that is charged to someone on a closing statement and is required to be paid?Functional ObsolenceWhat is one kind of real property depreciation caused by poor design?UsuryWhat is the practice of charging a rate of interest that is higher than is allowed by state law?Liz PendensWhat is the recorded legal notice that shows existing court action against real property?Abstract Of TitleWhat is the list of recorded documents on a particular real property called?TestateWhat is the condition called when a person dies with a will Easement In GrossThe right of way held by a railroad is an example of what type of easement?Constructive EvictionWhat is the name of the process by which a tenant is allowed to abandon a leased property without legal consequence if the landlord causes that leased property to become uninhabitable?Satisfaction of MortgageWhat recorded document indicates that the mortgage note has been paid in full?CapitalizationWhat is the process of estimating the value of real property by using the rate of return and the annual net income?

GranteeWhat is the name of the party who aquires the title to real property in a deed?Title TheoryThe lender is the owner of the mortgaged real estate according to what theory of mortgaged law?.072What is the decimal form of seventy two mills?BiennialWhat is one word that indicates how often a PA salesperson's license is required to be renewed?Ad ValoremWhat is the type of real estate tax that is levied according to value?AvulsionThe unexpected and dramatic loss of land as the result of an earthquake is represented by what real estate term?