Which of the following conditions does not apply in converting a mobile home in to real property?
Which of the following conditions does not apply in converting a mobile home into real property? The homeowner is required to have a tag guaranteeing the mobile home’s proper construction. Which act is known as the original fair housing statute?
What is the difference between Southern California and Northern California in reference to escrow accounts?
In northern California, most escrows are performed by title insurance companies while in southern California, there is usually a separate escrow and title company involved.
Is a real estate licensee considered a creditor?
A licensee is never considered a creditor under any circumstance. When an owner is selling under a land contract or purchase-money mortgage, he may use his broker to help determine if the buyer is creditworthy.
Who has the reversionary right and who has the possessory right?
Jack has decided to lease a home from Justin for a year until he gets a good feel for the area and knows where he wants to buy. In this relationship, who has the reversionary right and who has the possessory right? Jack has the possessory right and Justin the reversionary right.
Which of the following advertisements does not violate fair housing laws?
Fair Housing Advertising Words and Phrases List – Complimentary Download. There are even words that are restricted when it comes to people with disabilities. Obviously statements such as “no wheelchairs” are illegal. However, using phrases such as “great view,” “walk-in closets” or “walk to bus stop” is acceptable.
How do I convert my manufactured home to Nevada?
Can the home be converted from personal property to real property? Yes, in most cases. The home will need to have a conversion inspection by a city, county or state inspector. You must obtain an Affidavit of Conversion form from your local county assessor’s office.
What is the difference between Southern California and Northern California in reference to escrow accounts quizlet?
In Southern California, escrow services are usually performed by independent escrow companies or financial institutions. In Northern California, the escrow services are usually performed by title insurance companies. The main difference is when the instructions are signed.
Handwritten portions of real estate contracts always supersede preprinted forms. Which of the following is not a prohibited escrow-related activity? They may not permit, under any condition, any person to make any addition, deletion, or alteration of an escrow instruction.
Which parties are not exempt from the real estate licensing requirements in California?
According to the laws of real estate licensing in California, employees of the banks and certain lending establishments, cemetery authorities, certain agricultural associations, short term rental agents, licensed personal property brokers,etc are not required to register themselves or obtain license for a real estate …
Which are the four elements required for a valid contract real estate?
Legal purpose and legal capacity – The real estate contract must be for a legal purpose. Additionally, both parties must be of legal age, sound mind and NOT under the influence of drugs or alcohol. Click here to take a FREE 20 question real estate licensing sample exam to see how ready you are for your exam.
How do you know if a mobile home is real property then the California?
If a mobile home is real property, then the California Business and Professions Code, Section 10131(a) is a real estate broker’s authorization to negotiate a sale of the real property/mobile home, transferring the mobile home by use of a grant deed.
What is a straight note in real estate?
A straight note is defined as a loan agreement that generally requires payments of interest only over the term of the note. At the end of the term, the entire debt balance becomes payable in a single balloon payment.
Which of the following is not a goal of real estate appraiser?
Which of the following is not a goal of a real estate appraiser? To determine the marketability of a property. Ross, a newly licensed residential real estate appraiser, is on his way to appraise his very first piece of property. Please help Ross put the appraisal steps in order.
Which of the following forms of alienation is a type of involuntary conveyance?
Adverse possession, a lien foreclosure sale, or a bankruptcy are all examples of involuntary alienation.
What belongs in listing agreement provisions?
A listing agreement authorizes the broker to represent the seller and their property to third parties. … The listing agreement also specifies the listing price, broker’s duties, seller’s duties, broker’s compensation, terms for mediation, an automatic termination date, and any additional terms and conditions.