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Superior Exam - 3-24-23| Questions and Answers, 100% Verified| 2024

Superior Exam - 3-24-23| Questions and Answers, 100% Verified| 2024

Condemnation and escheat are examples of which of the following types of
property transfer?
voluntary alienation
involuntary alienation
transfer of title by descent
transfer of title through foreclosure
involuntary alienation
Without an agreement to the contrary, when a leased property is sold, the
lease
is binding on the new owner.
is in breach and can be voided by the tenant.
is canceled effective the date of title transfer.
may be terminated at the discretion of the new owner.
is binding on the new owner.
Which of the following terms BEST describes a court order that forces the
parties to fulfill obligations they promised in a real estate contract?
subpoena
lis pendens
constructive notice
specific performance
specific performance
Under which of the following circumstances is an agency relationship created
through a listing agreement terminated without liability for either party?
contract neglect
contract expiration
unilateral revocation by the principal
a title search discovers the seller has unmarketable title
contract expiration
When performing an appraisal report, what is the very last step taken by the
appraiser when bringing different appraisal approaches together in order to
reach a final opinion of value?
contribution
substitution
reconciliation
adjustment
reconciliation
Which appraisal approach is an appraiser MOST likely to use when
appraising a 20-year-old home in a residential neighborhood?
capitalization approach
market data approach
income approach
cost approach
market data approach
A squatter has been living on and farming a small, remote section of a very
large property. The property owner receives notice that the squatter wants to
claim title to the cultivated section. Which of the following statements about
this situation is CORRECT?

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