The majority of new licensees begin their work in what market?

An independent contractor licensee

Which is NOT one of the factors used by the IRS to determine whether a real estate agent qualifies as a statutory non-employee?

At the end of the year, what form will an independent contractor receive that details his or her compensation for the year?

An employer is responsible for withholding each of these from an employee's paycheck EXCEPT

Salesperson L uses the multiple listing service to find the perfect house for buyer B. When B buys the house, who will give L a check for the commission he earned?

Which is NOT an advantage of a career in real estate sales?

When may a person use the term REALTOR?

The multiple listing service (MLS) was created so that

ABC Cable Inc. is getting ready to build a new call center in Smithton that should attract hundreds of new workers to the small town. What would you expect the immediate effect on home prices in the area to be?

A large influx of people into a community is likely to result in which type of real estate market?

What is the most important factor in determining supply in the real estate market?

What is the impact of low inflation on the real estate market?

Which factor is NOT LIKELY result in a seller's market?

Which situation would NOT LIKELY result in a seller's market?

What is the acronym you can use to remember the broad factors that impact the real estate market?

What is another word that refers to the non-homogeneity of real property?

An increase in the cost of goods or services is knows as

Which is NOT a physical characteristic of land?

Which is NOT an example of an attachment?

What term describes a right that transfers with ownership of real property?

Physical land and all improvements that are permanently attached to it is known as

A landowner needs water. His land contains no available water source. However, the landowner is given the right to cross over his next-door neighbor's property to run a pipeline from a river to his land. What high grants this permission?

Over the last several years, the tide has been depositing silt onto the property along a coastal inlet, increasing the size of the property. This is an example of

J buys a house from K. J assumed that the curtains would be included in the price, even though the agreement of sale did not list them, persuade a judge if this goes to court?

A bench and table are installed as a leasehold improvement in the breakfast nook of a rented single-family home. The bench and table are bolted to the floor and must have bee installed by the --- and would most likely be --- property.

B bought a farm, and the sale included two tractors. What is required at the settlement to transfer ownership of those tractors?

Which item is LEAST LIKELY to be a fixture?

Which of these is NOT considered when determining whether an item is a fixture or personal property?

H owns a small commercial building that he rents to L, who opens a ceramics shop. L installs a kiln. Four years later, H sells the property to A, who wants to start her own pottery business. When L's lease is up, who owns the kiln?

Which is NOT an example of an improvement?

A homeowner is preparing to build a pool and deck in the backyard. The contractor just delivered a load of lumber and concrete to his house for construction beginning next week. That lumber and concrete would be considered

When J brought D's house, D turned over the house keys as part of the transaction. The house keys have become real property through the process of

Each of these terms could be used to doctrine a tractor EXCEPT

What is another term for emblements?

Physical land, its attachments, and its bundle of right is known as

Which is NOT an example of avulsion?

G inherits a plot of land from J. A year later, G sells half of the property to K. A year later, K gives her half to A, who sells the mineral rights. This series of events best represents the legal property right of

If a tenancy is terminated before a crop is ready to harvest, a tenant farmer has the right to re-enter the land later to harvest the crop. This rule is known as the doctrine of

What are the two main types of possessory interest in real property?

Which statement about a fee simple absolute estate is FALSE?

V owns 20 acres of land in the mountains and decides to deed the land to a cousin. V wants to ensure that the pristine beauty of the property is not married by development and indicates in the deed that at least 10 acres must remain undeveloped. This is an example of

J sold his land to F with the condition that F does not disturb the spring house built in 1750 that's on the back of the property. When F tore the spring house down to install a swimming pool, J exercised his right of re-entry. What type of estate did J grand F, and what does J have to do to get the land back?

B owns property in fee simple. He grants a life estate to Z and a remainder estate to X. The life estate is based on Z's life. Life tenant Z CANNOT

G bought a house for K to live in, although G remains the owner. When K dies, G wants to retain possession of the property. Who will own the property when K dies and what is that person called?

M conveys a life estate to N for as long as P shall live, and then to T. N dies before P dies. Now who has the present interest in the estate?

H has lived in her home for 30 years with her sister A. H's son E will inherit H's estate, but she wants to ensure A is still allowed to live in the home if she dies before A. H grants A a life estate. When H dies, which statement is TRUE?

R conveys a life estate to daughter C for as long as she lives, and then to son D. Who's is D, and what does he own?

Of these, which estate is NOT inheritable?

L leases his property to S. L is the ----, and S is the -----

A leasehold estate is

Lessors have a(n) ----- interest in real property

N rents her house to D. D has a --- estate, and N has a --- estate. If N moves back into the house at the end of the lease, N will have a ---- estate

A tenant agrees to rent an apartment for six months for $700 a month. At the end of the six months, the lease automatically renews for another six months. What odes this situations describe?

W owns two duplexes. When he dies, his four tenants must vacate the premises. What kind of estate does this indicate?

M's lease expired, but she continues living in the apartment without her landlord's permission. This situation is considered a

R agrees to rent an apartment for K for three months for $500 a month. He moves in January 1st and moves out March 31st without giving notice. What type of leasehold estate is this?

Y's friend from college moves to town. Y lets her move into his house while she is looking for a job. What type of leasehold estate is this most likely to be?

Generally speaking, if a landlord accepts rent from a holdover tenant after the lease expires, what type of tenancy is created?

The gas company has an easement in gross to access its gas lines on the

L has lived in a house on the lot behind T's property for 30 years, driving across T's vacant front property to get to the road without an easement. When T finally decides to build, she puts a fence all around her property, blocking L from the road. Other than an easement by necessity, what option might L have to travel from her property to the road?

E and K have an agreement that E is permitted to hunt on K's property during the current hunting season. This agreement is a(n)

B has an appurtenant easement that allows him to cross over his neighbor's land to get to the lake. When the neighbor sells this land to B, the easement is terminated through

Which situation would LEAST likely be an example of a license?

W has an easement to drive across his neighbor V's property to get to his barn. W's property is know as the ---- tenement

A similarity between an easement and a license is that both

A thunderstorm knocks down power lines on J's property. Big City Electric enters J's property without his permission to fix the lines. This is an example of

R buys a house near the beach. After he moves in, R and his neighbor sign a written agreement that allows R to cross the neighbor's property to get to the beach. The agreement states that if R moves or dies, the permission is terminated. What is this an example of?

Which is an example of a negative easement?

Which is NOT a requirement to claim an easement by prescription?

Which statement about liens is FALSE?

Which is an involuntary, specific liens?

Which type of lien can be either voluntary or involuntary?

All or the following are examples of junior liens EXCEPT

All of the following are examples of specific liens EXCEPT

When a firm is not paid after furnishing material for the construction of an apartment building, the firm may file a(n)

Which project would LEAST LIKELY justify a special assessment?

When G purchases a house, he gets a mortgage. The mortgage is recorded May 1st. G builds a deck in July and then goes to Hawaii for several months. He doesn't pay any of his bills and his property goes into foreclosure. Generally speaking, in what order will the liens be paid?

Which is the best example of an involuntary, general lien?

L and C are married and decide to buy some investment property together. L wants to make sure that if she dies, her daughter from a previous marriage will be able to inherit her interest in the property. How should L and C take title to the property?

J and friend L buy a $250,000 house together as tenants in common. J pays $200,000, and L pays $50,000. The deed indicates that J owns 80% interest, and L owns 20% interest. How much of that property can L occupy?

P and Q just got married, and P moves into the house Q owned in severalty prior to the wedding. Which of these unities is present with respect to the ownership of the house?

When V and C get married, they decide to sell each of their homes and buy one house together. V's house sells for $700,000; C's house sells for $300,000; and they're going to buy a $1 million house. If V wants a 70% interest in the new house, what form of ownership must they take?

G and J are getting divorced and decide to sell their house. Before the house sells, however, the divorce is finalized, and the judge awards the house to J as part of the divorce settlement. When the new deed is prepared, what is J's likely interest in the house?

H,Y,K AND R co-own a property as joint tenants. When R,K and Y are killed in a car accident, what is H's interest in the property?

A and B each own a one-third interest in a property as joint tenants with right of survivorship. D owns a one-third interest in the property as a tenant in common with A and B. When B dies, what happens to his interest in the property?

K,S and L own a house as tenants in common. When S dies, her 25% interest

Joint tenancy is severed when

What is the only form of co-ownership that permits the division of property in unequal proportions?

ABC, Inc. just bought an old warehouse to turn into a state-of-the-art bakery. How does ABC take ownership of the property?

Which type of business entity pays a share of the profits to its beneficiaries?

T makes brother B the trustee of the family farm for the benefit of her daughter D. Who actually holds title to the property?

A hundred doctors get together and put in $10 million each to purchase every strip mall in town as they become available over the next several years. This is most likely an example of a

S has a designated parking space at his condo. This is an example of a(n)

T has a proprietary lease on an individual unit in Royal Tower Residences. Most likely, what does T own?

W just bought a condominium. Which statement regarding W's ownership is TRUE?

A is a co-owner of a property in Orlando. He is permitted to stay there only the first week of December and the third week of June every year. N MOST LIKELY owns a