Covenants Study guides, Class notes & Summaries
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45 Hour Post Licensing Exam Correct 100%
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A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for - ANSWER $300,000 
 
What facts need not be disclosed in a real estate transaction? - ANSWER The property was the site of a homicide. 
 
What is a good graphic to show a seller that there will be more activity if the property is competitively priced? - ANSWER The pricing pyramid 
 
A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is $18,630. Prorati...
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PLP SGS 10- Summary Notes
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lOMoAR cPSD| 
PLP SGS 10 
RELATIONSHIP BETWEEN THE PARTIES: 
Privity of estate - Parties who share an immediate interest in the same land, e.g. landlord and tenant 
Privity of contract - The original parties to a contract - can sue for breach of contract, not 
withstanding their subsequent disposal of their interest. 
Privity of estate ceases to exist once one of the parties sharing an interest in the land disposes of their 
interest, so it cannot be relied upon to pursue a remedy. 
OLD LEASE: 
...
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45 Hour Post Licensing Exam Questions with 100% Correct Answers
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A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for Correct Answer $300,000 
 
What facts need not be disclosed in a real estate transaction? Correct Answer The property was the site of a homicide. 
 
What is a good graphic to show a seller that there will be more activity if the property is competitively priced? Correct Answer The pricing pyramid 
 
A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee i...
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RECA Fundamentals Exam Questions and Answers Already Passed
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RECA Fundamentals Exam Questions and Answers Already Passed 
Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) 
Which entity has the authority to amend the Real Estate Act Provincial Legislature 
Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) 
Which of the following will occur to the supply of a good when ther...
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Fixtures and Chattels, Mortgages, Easements, Non-Trust Interests, Leases, Restrictive Covenants, Covenants, Estate Contracts, Co-Ownership, Leases
- Summary • 87 pages • 2023
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Fixtures and Chattels, Mortgages, Easements, Non-Trust Interests, Leases, Restrictive Covenants, Covenants, Estate Contracts, Co-Ownership, Leases 
 
Complete guide to land with tables explaining legal and equitable rights, Includes templates for practice questions
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PLP SGS 9- Summary Notes
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CONTENTS OF A LEASE 3 
ADVISING ON A LEASE 
When advising on the terms of the lease, do not look at the lease in isolation → look at the freehold title 
as there may be freehold covenants which affect the use and enjoyment of the property. 
Consider: lease, the law, landlords title, and Local Authority consents 
TERM AND BREAK CLAUSE 
Term - look at the definition of ‘Term’ in the least to calculate the contractual expiry date e.g. ‘from and 
including xx’ or ‘from xx’ 
Break claus...
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FINC 3250: REAL ESTATE TEST 2 questions with correct answers
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Covenants, Conditions, and Restrictions (CC&Rs) CORRECT ANSWER rules set forth in the deed or in a document referenced by the deed that the owner agrees to adhere to if they purchase the property 
 
liens CORRECT ANSWER an interest in property gained by a creditor to secure a debt of some type 
 
mortgage lien CORRECT ANSWER filed by a lender to secure repayment of a loan 
 
voluntary to debtor CORRECT ANSWER is a mortgage lien voluntary or involuntary 
 
specific lien CORRECT ANSWER is a mortga...
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iaao 101 Exam Questions with correct Answers
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ad valorem - Answer- According to Value 
 
The basic responsibilities of an Appraiser to all taxable property. - Answer- 1. Discovery 
2. Listing 
3. Valuation 
 
The taxable location of personal property is referred to as its' - Answer- Situs 
 
The type of value usually estimated by an Appraiser is the - Answer- Market Value 
 
The effective tax rate reflects the ratio between what - Answer- The current tax bill and the property value 
 
Assessment level times the tax rate equals - Answer- Th...
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Post 301--Broker Relationships and Responsibilities Questions With 100% Correct Answers.
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Material 
fact - About the property 
Related to the property 
Principal able to complete the transaction 
Special importance 
Disclosing material facts about a seller's property - To client or customer 
Even if it hurts your customer 
Regardless of how pubic the material fact is 
Listing agent has highest responsibility 
Buyer agent is responsible to disclose if known 
Answer questions to avoid misrepresentation 
Willful - intentional 
Negligent - Unintentional--failure to exercise reasonable c...
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Escrow Sample Test Questions and Answers Rated A
- Exam (elaborations) • 18 pages • 2023
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Escrow Sample Test Questions and Answers Rated A 
An escrow is an arrangement that: a) Holds documents, b) Holds funds, c) Creates documents to affect a transfer of interest in property, d) is responsible for guaranteeing funds. A, B, C, E 
When is it necessary to have closing documents recorded prior to disbursement of escrow funds? a) it is not necessary, b) in almost all situations, c) when instructed by one of the parties to the escrow, d) only when the written instructions require recording...
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