1
Q
What is a hidden defects?
A
Latent material
2
Q
Name four encumbrances?
A
A. Deed covenants
B. Deed restrictions
C. Liens
D. HOA regulations
3
Q
What is an example of a Deed Covenant or reservation
A
Easement or Mineral Rights
4
Q
Types of Liens
A
A. Mortgage
B. Tax - Precedence over all others
C. Mechanic’s Lien - Effective when work begins
D. Judgment by Court
5
Q
To earn a Brokerage Fee
A
A. Must be licensed
B. Must be employed by a Principal
6
Q
Who is the Principal
A
In Property Management - the Owner
Listing Agreement - the Seller
Broker Exam - MI
flashcards
Decks in class (10)
# Cards
