RE LAW SAE aceable final exam

RE LAW SAE aceable final exam

Which of these is a bilateral contract? - correct answer ✔Richard signs a
contract to buy James's house.
What does severalty mean? - correct answer ✔sole ownership
What agency is responsible for enforcing TRELA? - correct answer ✔TREC
What is the difference between a subdivider and a developer? - correct
answer ✔A subdivider parcels out the land; a developer builds things on it.
If a landlord has the power to retake the property after the lease term has
expired, this means they have a: - correct answer ✔A landlord has a
reversionary right; this means that the landlord has the power to retake the
property after the lease term has expired. Therefore, the landlord's interest in
the property is known as a leased fee estate plus reversionary right.
Alex defaulted on his loan and lost his house to foreclosure. This is an
example of: - correct answer ✔Involuntary Alienation
The concept of escheat means that property: - correct answer ✔`reverts to
the state when a person dies without a will, an heir, or a creditor
Which of the following has a long lease term and is often used in the
development of commercial property? - correct answer ✔Ground lease
What is adverse possession? - correct answer ✔A method of gaining legal
title to real property by the actual, open, hostile, and continuous possession of
it.