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Real Estate Review 3
Terms in this set (30)
Community involvement in cleanups
The WQARF uses notices, plans, and an advisory board for each cleanup site to encourage ______.
Fee simple subject to a condition subsequent
Which type of an estate doesn't end automatically when the stated event or condition occurs?
Record the deed in his name.
Cheng is selling his property to Jericho. What's the best method Jericho can use to ensure his interest in the property?
The Sherman Antitrust Act of 1890
The two real estate firms in one small town, Vineyard Realty and Homestead Homes, agree to charge the same commission rate to avoid the possibility of clients selecting a firm based simply on price. What specific federal legislation prohibits this?
Insurance claims might not appear on a CLUE report for a property if the claims were made more than ______ years ago.
Metes and bounds
"Beginning at a stake and stones about 30 feet from the center of the brook that runs across the road Southwesterly from the dwelling house of the late Henry Nelson ..." is an example of what type of legal description?
Three years' experience as a real estate licensee
What experience level is required to obtain a broker's license in Arizona?
The Protecting Tenants at Foreclosure Act
Arizona tenant Gene has just learned that his apartment building is about to be foreclosed upon. Under which federal law must Gene be given 90 days' notice prior to his being evicted, if the new owner decides to evict the current tenants?
Federal government construction projects
local authorities lack police power over which of the following?
Select a worker who's bonded and insured.
Your seller client wants to hire an unlicensed handyman to do some work around her house before she sells it. What advice would you give her?
Which type of analysis performed by a property manager includes a look at the properties within the market area that will be competing for tenants?
The current size of the real estate sector
CAP is at least partially responsible for ______.
If an Arizona licensee misses the deadline for the continuing education requirements, the Arizona real estate commissioner can grant a waiver or additional time if the licensee shows ______.
Public hearings must be held.
Which of the following must occur before zoning changes are made?
Copies of receipts from licensed contractors
Your buyer clients Silas and Joan just put a contract on a fix-and-flip property. What should you recommend they request from the sellers?
Walter is an Arizona real estate licensee whose license was revoked eight months ago. His licensure period expired six months ago. He's dealt with the reason for his revocation and is now otherwise in good standing with ADRE. He is eligible to apply for reinstatement by ______.
Through which method of voluntary alienation does the devisor convey both real and personal property to the devisee?
The probable sales price if the property were listed today and a willing seller and buyer were involved in the transfer of ownership
Her employing broker
Jewel's buyer client recently bought a house, and Jewel can now be compensated for her work as an Arizona buyer's agent. From whom will Jewel receive her commission check?
Install/use solar energy devices
Arizona's solar energy exemption protects consumer's rights to ______.
Lot and block
Harmony is looking at the legal description on her purchase contract. It mentions that the plat of her property is recorded in Map Book 12, page 14, at the county courthouse. What type of legal description is this?
The dominant estate owner takes action that shows a clear intent to stop using the easement.
What must happen for an easement to be terminated due to abandonment?
In 1934, when the Federal Housing Administration was created, it adopted the practice of crossing off cities and neighborhoods it considered risky and withheld mortgage funds from those areas. What is this action called?
Alice has asked her landlord three times over the past week to come fix the hot water in the bathtub. She's unable to fix the problem herself but she doesn't want to move out. What other remedy is available to Alice?
Real estate, plus all of the interests, benefits, and rights included in ownership
Licensed residential real property appraiser
The ______ category of appraiser licensure requires a minimum of 1,000 hours of applicable experience.
What's it called when lien holders allow another lien holder's claim to have priority over their own?
The Arizona Department of ______ protects the environment and prevents pollution in Arizona.
Six or more lots sold to a single buyer in one transaction.
What are the minimum requirements for a bulk sale of subdivided to be exempt from Arizona subdivision statutes?
Residential Lead-Based Paint Hazard Reduction Act
What act requires sellers, landlords, and their agents to disclose any known lead hazards in the home?
THIS SET IS OFTEN IN FOLDERS WITH...
Practice of real estate 13%
chapter 17 antitrust laws
Unit 9 Real Estate Brokerage
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