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In some states the board of equalization equalizes assessment procedures between
counties.
A lease for a definite period of time, which terminates when that time has expired, is a
periodic estate.
A homeowner policy is a policy that combines property and liability policies designed
for residential owner-occupants.
Commercial banks tend to favor long term residential lending.
A fraud is an act intended to deceive for the purpose of inducing another to part with
something of value.
After the seller has accepted an offer, the sales agent should deliver a copy of the
agreement first of all to the lender.
The presence of a power of sale right prohibits the trustee from using a court-ordered
foreclosure.
The type of ARM loan with an enticingly attractive below-market initial rate is called a
____________________ rate adjustable.
To be considered a good investment, when a property that has a negative cash flow is
sold there must be a substantial increase in property value.
The first thing a licensed broker must prove to recover a commission is that he has
competitive commission rates.
A partial release would allow a developer to release some of the mortgaged property
from the mortgage collateral.
The word point means 1% of the _________________________.
Real estate brokers may operate a business as a sole proprietorship under their own
name only.
Because of the survivorship feature, tenancy in common has loosely been labeled a
"poor man's will."
The designation of "certified property manager" means an IREM graduate property
manager.
In evaluating a loan application, part-time income cannot be discounted on the basis of
its source.
A use of property that is not in agreement with present zoning laws may be permitted
under a so-called "grandfather clause."
In ____________________ theory states, the mortgage gives only a lien right to the
lender and the borrower retains title.
The borrower's assets that are in cash or readily convertible into cash are called
____________________ assets.
