Ch 1-6 Flashcards
The four components of the Real Property Appraiser Qualification Criteria are:
Qualifying Education
Experience
Examinations
Continuing Education
The ASB is responsible for x
USPAP
AQB is responsible for creating xx of appraisers, which the x adopt and enforce.
requirements for licensure, certification, and recertification
states
Frequently Asked Questions are x of USPAP, and are x to be legally enforceable.
not part
not intended
An appraiser is required to disclose any prior services he or she provided regarding the subject property within the prior x years.
3
The mere fact that an appraiser appraised a property is x information as defined in USPAP. The appraiser must be careful not to disclose confidential information from a x assignment in the x assignment.
not confidential
previous
new
Real Estate includes
Here: long list
Buildings
Improvements to the land
o Sidewalks
o Driveways o Sheds
o Fences
o Patios
o In ground pools
o Tennis courts
* Trees
* Landscaping
Even though you may own a property free and clear with your whole bundle of rights, you still will be subject to certain public restrictions on your private property rights. These include:
- Taxation
- Eminent domain
- Police power (zoning, codes, subdivision regulations)
- Escheat
Eminent domain is the x of the government to xxx.
Condemnation is the xxx.
right
take the property.
process by which the government exercises this right.
Examples of police power include:
- Zoning
- Building codes
- Subdivision regulations
- Electrical codes
- Plumbing codes
- Energy codes
Police power is defined as
“The inherent power of government to regulate property in order to protect public health, safety, and general welfare.”
What means, to die interstate?
without a will
List private restrictions on property:
- Mortgages
- Mechanic’s liens
- Deed restrictions
- Conditions, Covenants and Restrictions (CC&Rs)
Example of Deed Restriction
No sale of Alcohol
Use as Single Residential only
(Anything is possible)
Difference between CC&Rs and Deed Restrictions?
CC&Rs apply to more than one single property.
Deed Restrictions apply to one single property only.
3 Examples of CC&Rs:
- Minimum building size
- Minimum building cost new
- Keeping of pets
- Keeping of livestock
- Whether or not recreational vehicles (RVs) can be stored in the driveway
The three most common systems of legal descriptions are:
- Lot and block
- Metes and bounds
- Rectangular survey
Where does Furlong come from?
The furlong (meaning furrow length) was the distance a team of oxen could plough without resting.
Metes and Bounds Problems?
Sometimes the point of beginning is cited as a stone wall or an elm tree - and that was in 1832. Obviously, the wall or the tree may be long gone.
Sometimes a boundary is cited as following along the stream as it winds and turns. The stream may have changed course or dried up entirely.
1 Mile =
1 Furlong =
1 Chain =
1 Rod =
1 Link =
8 Furlongs = 5,280 Feet
10 Chains = 660 Feet
4 Rods = 66 Feet
25 Links = 16.5 Feet
7.92 Inches = 0.67 Feet
