MetroBrokers Study guides, Class notes & Summaries

What is the function of a Bill of Sale? Of a Deed? Correct Answer-Answered by to sell personal property, deed: sale of real property_____ real estate Real property consists of what two (2) elements? Answered by____________ Correct Answer-land , attachments / appurtenances ( runs with the land ) Real property includes what three (3) rights? Might these rights be separated? How? Answered by__________ Correct Answer-water rights , minerals rights, air rights These can be sold or leased s...

A Restaurant owner installed booths in a small shop. Later he decided to move to a bigger location. Can he take the booths and save some money? a. No, the booths are attached to the building b. Maybe, depends how he attached the booths c. Yes, the booths are trade fixtures and can be removed prior to the end of the lease. d. Yes, the booths are trade fixtures and can be removed any time e. No, the booths are fixtures since they are attached. Correct Answer-c. Yes, the booths are tra...

Allodial System Correct Answer-The system of land ownership where anyone can own land. Bundle of Rights Correct Answer-All rights a person can have in real property. Included are control, possession, disposition, and enjoyment. The right of possession (B.O.R) Correct Answer-The right to occupy your property and to have ingress and egress ( a way in and out) The right to use or control (B.O.R) Correct Answer-This includes Making a profit, remove an object from it, building on it, farming...

Metrobrokers Final Actual questions and answers 2023/24

MetroBrokers Final Exam Practice 2020 |185 Questions With Solutions