This class was created by Brainscape user Laura Martini. Visit their profile to learn more about the creator.

Decks in this class (42)

MN Exam Prep Questions
T f the delivery of notice of lie...,
T f to be eligible for homestead ...,
T f the maximum number of acres t...
34  cards
Unit 2: Freehold Estates
What is an estate,
What are the 2 types of estates,
What is a freehold estate
13  cards
Unit 2: Leasehold Estates
What is an estate,
What are the 2 types of estates,
What is a leasehold estate
18  cards
Unit 1: Legal Descriptions
What are the 3 methods used to de...,
How do metes and bounds describe ...,
Where do metes and bounds begin a...
20  cards
Unit 3: Forms of Ownership
What are the 3 forms of ownership,
What is estate in severalty,
T f concurrent ownership is when ...
20  cards
Unit 2: Encumbrances
What is an encumbrance,
What are the 4 kinds of encumbrances,
What is an easement
23  cards
Unit 4: Marketable Title & Title Insurance Policies
Why is receiving marketable title...,
What does a title search entail,
What is present if the title is s...
24  cards
Unit 6: Appraisals, Value, Principles of Value
What is an appraisal,
T f appraisals are less accurate ...,
What is market value
36  cards
What is a deed of trust or a mort...,
What happens once a mortgage or d...,
T f interest on the majority of h...
38  cards
Fair Housing
What does the civil rights act of...,
What classifications are protecte...,
T f under the fair housing act la...
24  cards
Unit 3: Conveying Ownership
What is a deed,
Who are the parties in a deed,
Who provides the written deed
42  cards
Unit 9: Agency Contracts
What is a fiduciary relationship,
What is a listing contract,
Who are the parties in a listing ...
32  cards
Unit 1: Real & Personal Property
T f real property is immovable,
What does real property include,
What is an appurtenance
18  cards
Unit 1: Law of Fixtures
What is a fixture,
T f land can be a fixture,
What is another name for a fixture
7  cards
Unit 1: Government Land Use Controls
What is the master development plan,
What are the other names for the ...,
What are the 5 land use classific...
21  cards
Unit 2: Governmental Rights in Land
What are the 4 governmental right...,
What rights does the government h...,
What are examples of police power
11  cards
Unit 2: ORS & EES Table
What is the or and ee rule in rea...,
What or and ee terms do we see on...,
What or and ee terms do we see on...
6  cards
Unit 3: Property Transfer Disclosures
What is a seller s disclosure,
What does a seller s disclosure t...,
T f the broker completes the sell...
6  cards
Unit 4: Public Recording System
Who regulates the recording of po...,
T f recordings prove the validity...,
T f a deed does not have to be re...
8  cards
Unit 4: Environmental Issues Disclosures
What do most environmental issues...,
A seller tells the agent they hav...,
T f environmental issues are not ...
26  cards
Unit 4: Settlement/Closing Procedures
What is the closing statement,
How do closings differ between st...,
What is a debit to buyer
10  cards
Unit 5: How a Contract is Created
What is a contract,
What are the 2 types of contracts,
T f there are no implied contract...
8  cards
Unit 5: Classification and Stages of Contracts
What are the 3 classifications of...,
What makes a contract valid,
What makes a contract void
19  cards
Unit 5: Essential Elements of a Valid Contract
What are the 5 essential elements...,
How is an individual deemed compe...,
What is a counteroffer
19  cards
Unit 5: Types of Real Estate Contracts
What are the 6 types of real esta...,
What is a purchase contract,
What are the other names for a pu...
47  cards
Unit 5: Risk Management
What are the points for evaulation,
What does the avoid part of risk ...,
What does the control part of ris...
15  cards
Unit 5: Termination and Breach of Contracts
What are the 4 ways a contract ca...,
How can a contract be terminated ...,
How can a contract be terminated ...
17  cards
Unit 6: Methods of Valuation
What are the 3 methods of appraisals,
What value method is used for res...,
What is the market data approach
39  cards
Unit 7: Financing Documents
How is a promissory note secured ...,
How is a promissory note secured ...,
What are the two ways a promissor...
25  cards
Unit 7: Miscellaneous Mortgage Terms
What is loan to value ratio,
What is another name for loan to ...,
T f the lower your ltv the less r...
9  cards
Unit 7: Foreclosure
What is a foreclosure,
T f all liens on a property are s...,
What are the 2 types of foreclosures
17  cards
Unit 7: Methods of Principal & Interest Payment
What is a term straight loan,
What is a partially amortized bal...,
What is a fully amortized loan
21  cards
Unit 7: Subprime/Predatory Loans & Seller Financing
Who is offered subprime loans,
What is a subprime loan,
Why are borrowers at a higher ris...
8  cards
Unit 8: Government Financing Programs
What are the 2 government financi...,
Which program provides its own mo...,
Which program guarantees lenders ...
8  cards
Unit 9: The Roles & Responsibilities of Brokerage Firm
Who owns and is responsible for a...,
T f the salesperson is responsibl...,
T f the salesperson owes duties t...
5  cards
Unit 9: Agency Relationships
What is an agency,
Who are the 3 parties in an agenc...,
Who is the principal in an agency...
29  cards
Unit 8: Conventional Loans
What type of mortgage has no dire...,
Why are conventional loans consid...,
Why might a borrower be required ...
9  cards
Unit 8: Sources for Real Estate Loans
What is the federal reserve,
What is the primary mortgage market,
What is the secondary mortgage ma...
12  cards
Unit 8: Income Taxation and Homeownership
T f real estate brokers should no...,
What can owners deduct on a first...
2  cards
Unit 8: Ethics for Real Estate Professionals
What is meant by the ethics for r...,
What are the 5 expectations of br...,
T f all real estate professionals...
10  cards
Unit 8: Consumer Protection Laws
What are the 2 consumer protectio...,
What does tila cover,
What does respa cover
26  cards
Unit 9: Broker & Property Manager Contracts
If sellers misrepresented a laten...,
Where do brokers hold trust funds...,
What can go into a broker s trust...
11  cards

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