Term
| The primary purpose that an appraiser would use a site analysis for would be to determine the |
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Definition
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Term
| under a lease, who has the leasehold estate? |
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Definition
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Term
| urban industrial property is usually valued by the: |
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Definition
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Term
| If a problem between a buyer and seller cannot be resolved in escrow the escrow company can: |
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Definition
| enter court action with buyer and seller in an action of interpleader |
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Term
| a trust deed note taken by a state savings and loan association on a single family, owner occupied residence could be prepaid without a penalty: |
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Definition
| if the loan is more than 7 yrs old |
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Term
| Johnson purchased a parcel of real property and received a standard policy of title insurance. johnson would be protected against al of the following except |
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Definition
| easements and liens on the property not revealed by the public record. |
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Term
| The statement: "no prudent person would normally pay more for an object than the price of an acceptable alternative" refers to the appraising principle of : |
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Definition
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Term
| Under the Civil Code, agents must disclose to sellers and buyers in a real estate transaction the nature of the agency relationship. in which of the following transactions, would this agency relationship be required to be disclosed? |
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Definition
| a lease for a period of more than one year |
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Term
| The quickest appraisal method that can be used to convert the established income of a property into a dollar valuation of a property is the |
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Definition
| gross rent multiplier approach |
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Term
| a real estate investor who wishes to operate by using the principle of leverage would: |
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Definition
| use borrowed money to the maximum extent possible |
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Term
| A real estate transfer disclosure statement would be required when property is transferred by which of the following methods? |
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Definition
| a sale transaction involving one to four units |
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Term
| in the purchase of personal property during the acquisition of a business opportunity, which of the following is necessary to "perfect" the arrangement? |
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Definition
| file a financing statement |
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Term
| Insofar as the ratio of land and improvement cost is concerned, which offers an investor the largest depreciation basis: |
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Definition
| apartment property being sold at $100,000 |
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Term
| The Truth-in-Lending Law as it pertains to real estate would most nearly apply to which of the following: |
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Definition
| first T.D. loans and junior loans |
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Term
| "Depression, expansion, prosperity, and recession" are all terms related to which of the following types of cycle: |
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Definition
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Term
| The Subdivided Lands Act requires the owner, subdivider, or agent to notify the Real Estate Commissioner if certain material changes occur in a subdivision. All of the following would be considered to be a material change in a subdivision except: |
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Definition
| a change in the prices of the lots, units, or parcels |
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Term
| For federal income tax purposes, which of the following items is a legitimate deduction for an owner on unimproved real property that is being held for the purpose of investment? |
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Definition
| a loss on the sale of the property |
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Term
| If an appraiser is appraising a special purpose property, she would most generally use the |
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Definition
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Term
| For Federal income tax purposes, capital expenditures for improvements are: |
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Definition
| added to the "cost basis" of the property and depreciated |
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Term
| Under most construction loan terms, a lender will not release the final payment to he builder until |
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Definition
| the lien period has expired |
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Term
| If there is a default on a mortgage and the mortgagee decides to foreclose on the mortgage, the mortgagee would: |
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Definition
| file an action in the court |
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Term
| The purchaser in a sale-leaseback transaction would be least concerned with the |
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Definition
| depreciated book value of the building |
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Term
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Definition
| a net income to the lessor |
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Term
| Which of the following is most nearly like an easement appurtenant? |
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Definition
| stock in a mutual water company |
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Term
| The California Real Estate Law requires a subdivider to notify the Real Estate Commissioner whenever there is a material change after a final public report has been issued. Which of the following would constitute a material change? |
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Definition
| the sale of seven lots to a private builder |
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Term
| When loaning money to two or more co-borrowers on a single promissory note, the lender would be best advised to increase the security on the note by inserting which of the following phrases after the names of the co-borrowers? |
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Definition
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Term
| A homeowner may take advantage of an exclusion from capital gains in the sale of their own personal residence |
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Definition
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Term
| Mr. Bailey purchased a 24 unit apartment building in 1988. for income tax purposes, he is allowed to calculate depreciation using which of the following methods? |
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Definition
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Term
| Which of the following is the reciprocal of an 8% capitalization rate? |
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Definition
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