Above Vocab tell me ENGLISH VOCABULARY == VITAL FOR YOUR SUCCESS: Functional obsolescence would be caused by each of the following except:
Putting Greek statues in front of Indian tepee utilities that are no longer useful a one car garage in a five bedroom house proximity to a obnoxious nuisance Functional Obsolescence might be likely if a property has a one-car garage in a 5 bedroom house. Proximity to a obnoxious nuisance would be economic obsolesce
The value of each front foot increases because of the added depth of the lot; the value per square foot decreases
real estate licensee may sell = registered mobile home;
To control the use of land, the device used in a deed is known as = restriction
After close of escrow, all assignments of real property sales contracts negotiated by a real estate licensee must be recorded with the county recorder's office within == 10 days
Easements & Stock in a mutual water company & Covenants == run with the land
SUBJECT TO :
For the nation's financial institutions, deregulation means == maximum interest rates payable on savings accounts are no longer subject to limitations
An owner of a single-family residence is planning to sell the residence and wishes to obtain an FHA appraisal to permit selling with FHA financing. In order to do this, the owner should go through the process of == Having a lender apply for a conditional commitment (The seller would ask an approved lender to secure a loan commitment, subject to finding a qualified buyer )
CONDO OR COOP??:
An estate in real property consisting of an undivided interest in common in a portion of a parcel of real property together with a separate interest in space in a residential, industrial, or commercial building on such real property, such as an apartment, office or store," is most nearly the definition of == stock of cooperative ? condo?
A trust deed note taken by a state savings and loan association on a single-family owner-occupied residence could be prepaid without penalty ==Concerning prepayment penalties on single-family owner-occupied residences, one part of the civil code says they are not allowed after 5 years and another part of the civil code says they are not allowed after 7 years
Accession takes place when real property is acquired by == Imperceptible action of natural waters through accretion (Accretion is one form of accession by which title may be acquired.)
While the grantee may use fictitious name (such as a stage name), the grantee cannot be a fictitious person.
Dewey properly inherited real property at the age of 15 and deeded the property to a nonprofit organization with which he was involved. The organization recorded the deed and constructed a building on the property. At the age of 18, Dewey broke with the organization and claimed the property. What would be the most likely result = The deed was void because Dewey was a minor at the time (Since Dewey was a minor at the time he signed the deed, it would be void and he would still own the property)
quitclaim deed has no warranties or guarantees
A forged deed would be considered invalid or void; it does not convey the property. A convict may convey property that he owns. A minor can receive and own property, and sometimes property is given to other people for love and affection, which is considered good consideration but not valuable consideration (When it is a forged deed held by a bona fide purchaser; )
VA would approve the loan without a down payment if the appraisal were at least as much as the selling price.
CAL-VET LOAN:
The maximum amount of points that may be charged to a borrower for a Cal-Vet loan is ==No points (NOT 3%). (With a Cal-Vet loan, a land contract is used as the security device and there are no points.)
[ Which lending program includes in their requirements the matter of life and disability insurance coverage == Cal-Vet loans; They are required to apply for life insurance under the Department's home protection plan ] {under the California Farm and Home Purchase plan }
Interest rates on which of the following loans can be changed == The interest rate on Cal-Vet loans can be changed by action of the legislature.
17. Under the Real Estate Settlement Procedures Act, the fee that the lender can charge the borrower for the preparation of the Disclosure/Settlement Statement is: Nothing; The lender cannot charge the borrower for preparing this statement.