TestmBankmformFloridamRealmEstatemExam/mActualmExammQuestionsm withmCorrectmAnswers/mUpdatedm2024.
Inmwhichmformmofmco-ownershipmismamperson'smownershipminheritable?m–
- Jointmtenancy
- Tenancymbymthementirety
- Tenancyminmcommon
- Tenancyminmseveralty
CorrectmAnswer- mc.mTenancyminmcommonmallowsmformampersonsmsharemtombeminheritable,mitmdoesmnotmautomatic allympassmforthmtomthemrestmofmthemownersmlikeminmjointmtenancym(thismismcalledmthemrightmofmsur vivorship).
Howmlongmdomprospectivemtenantsmhavemtomrequestmamrefundmaftermpurchasingmamrentalmlist?m-ma.m10mdays
- 15mdays
- 30mdays
- 360mdays
CorrectmAnswer-mC.m30mdays................................................ tenantsmhavemupmtom30mdaysmtomrequestmam75%mrefundmifmtheymdomnotmpurch ase amrental
WhichmmethodmbestmdescribesmthemforeclosuremprocessminmFlorida?m–
- Caveatmemptor
- Judicial
- Lismpendens
- Non-judicial
CorrectmAnswer-mb.mThemstatemofmfloridamoffersmamjudicialmforeclosuremprocess Amjudicialmforeclosuremismknownmasmamlienmtheorymprocess.mBasically,mthemhomeownermhasmlegalmtitlemtomt hemproperty...Unlikemtitlemtheory,mwheremasmthemownermhasmequitablemtitle
- / 4
pg.m1 2 / 4
WhichmofmthemfollowingmstatementsmaboutmthemFloridampropertymtaxmdisclosuremismNOTmtrue?m- ma.mItmcanmbemincludedminmthemsalesmcontractmitself.
- Itmcautionsmbuyersmnotmtomrelymonmthemcurrentmyear'smtaxmtompredictmwhatmthey'llmhavemtompay.
- Itmgivesmbuyersmamroughmestimatemofmthempropertymtaxmthey'llmpayminmthemcomingmyear.
- Itmmustmbemprovidedmtomsellersmwhenmtheymsignmtheirmagencymagreement.
CorrectmAnswer-mc.mThismdisclosuremdoesn'tmprovidemanymestimatesmofmfuturempropertymtaxmamounts.
Whichmactmsimplifies,mclarifies,mandmmodernizesmconsumermprotectionmlawsmandmmakesmthemmmoremcon sistentmwithmfederalmtrademlaws?m-ma.mFairmHousingmAct
- FederalmDuplicatemLawmCondensationmAct
- FederalmTrademCommissionmAct
- FloridamDeceptivemandmUnfairmTrademPracticesmAct
CorrectmAnswer-md.mThemFloridamDeceptivemandmUnfairmTrademPracticesmActmismthemactmthatmsimplifies, clarifies,mandmmodernizesmconsumermprotectionmlawsmandmmakesmthemmmoremconsistentmwithmfederalmtrad emlaws.
Tomcomplymwithmthemstatutemofmfrauds,manmoptionmcontractmmustmbe .m- ma.mInmwritingmandmsignedmbymthemoptionee
- Inmwritingmandmsignedmbymthemoptionor
- Inmwritingmandmwitnessedmbymanmattorney
- Onmfilematmthemlocalmcourthouse
CorrectmAnswer- mb.mTomcomplymwithmthemstatutemofmfrauds,manmoptionmcontractmmustmbeminmwritingmandmsignedmbymthemo ptionorm(seller).
Amcooperativemisma(n) .m–
- limitedmpartnership
- LLC
- not-for-profitmcorporation
- solemproprietorship
CorrectmAnswer- mc.mAmcooperativemismamjointmventuremwithmitsmshareholders,mformedmformtheirmbenefitmandmgovernedmbymthe m.mIt'smamnot-for-profitmcorporation.
- / 4
pg.m2
- / 4