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A church that operates housing for the elderly may not restrict occupancy to members
of the church even if membership in the church is open to all persons.
Typically an investment in a REIT requires a large amount of money.
If a limited partner becomes too involved in the management of the partnership he may
become a general partner's operation of law and have more liability than he bargained
for.
The final inspection of the property just prior to the settlement date is called a
_________________________.
In a typical homeowner's policy, section I deals with losses to the insured's property and
section II covers liability of the insured and family.
A person seeking enforcement of the Civil Rights Act of 1866 may do so by filing an
action in federal court.
The power of _________________________ can be used to take land for a public road,
public parking or an irrigation district.
The amount of rent that the tenant must pay the landlord for the use of the premises is
called the ____________________ rent.
The deposit of documents and funds with a ____________________ third party plus
instructions as to how to conduct the closing is called an escrow closing.
A properly signed multiple listing agreement is the property of the multiple listing
service.
The broker and the seller know of major plumbing repairs to be made. They sell the
house to a buyer "as is" but do not disclose the plumbing problems. The buyer discovers
the defects after closing and sues the broker and seller. Most likely, the buyer can
collect, because the defect should have been disclosed.
In contrast to straight-line depreciation, ____________________ depreciation is any
method that allows depreciation at a rate faster than straight-line.
In appraising an historically significant Victorian era residence using the cost approach,
the will probably appraise it on the basis of its reproduction cost.
A real estate contract can be declared void if it is not signed.
____________________ certificates allow a mortgage originator to deliver to Freddie
Mac either whole mortgages or part interest in a pool of whole mortgages.
