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

A valid deed must contain:

Discuss the duties that an agent has to a customer and a client. Keep in mind that an agent has an agency relationship with a client and not with a customer.

Land use may be controlled by:

A claim against both personal and real property may be called:

A legal description must enable a qualified surveyor to locate the exact boundaries of a property.

The federal law that regulates the activities of real estate professionals in the preparation and conduct of the closing is called RESPA ( the Real Estate Settlement Procedures Act).

A ___________________ broker represents neither the buyer nor the seller and his duty is to make certain the deal happens.

___________________________________ is the legal term for a judge ordering one of the parties to a contract to do whatever he said he was going to do in the contract.

If all parties to a lease or a mortgage are each responsible for 100% of the obligation, they are considered:

Define fixture.

Real Estate records ( deeds, deeds of trust, etc) are filed in:

Security Deposits on rentals are given for which purpose(s)?

Explain a closing in escrow.

The deed with the most comprehensive warranties is the special warranty deed.

If a debtor can prove that the amount the lender is claiming is in default, the debtor can stay the foreclosure by going to court.

The Statute of Frauds stipulates that conveyances of real estate must be in writing

What is RESPA?

The trustee in a bankruptcy works for the debtor and the creditors.

GPS, the global positioning system consists of:

The mortgagee is: