Exam 16: Understanding Real Estate: A Comprehensive Guide to Ownership, Rights, and Legalities

As the capitalization rate goes up the value of the property goes down.

A _________________ permit must be issued by the local authority before any construction may begin.

The percentage of owner occupied homes in the United States is about 20%.

Tax avoidance is:

Define Real Estate

Title insurance insures the buyer:

A special warranty deed:

The map that shows the elevations of a land parcel is called:

A property tax lien is:

Holders of life estates have no duties associated with their estate.

A lockbox is a way to keep delinquent tenants out of their space.

Changes made to the tax code:

The Mortgagees title policy insures:

In a general partnership:

An open-end mortgage allows the borrower to take the loan in increments.

An undisclosed dual agency is a great way to make extra money.

A claim placed on real property as a way to recover payment for a debt owned by the property owner is called:

The rule of 72 states that whatever annual rate of return you receive on your investment will double in the number of years you get when you divide the rate of return into 72. If you invest $500.00 in a CD with a rate of 4%, how many years will it take to double your return?

A buyer may use as a deduction on his federal income tax return, prepaid interest and possibly points.

An ________________________mortgage is a mortgage in which the interest rate may go up or down during the term of the loan.