Federal housing Laws

Question 0

Which of the following terms is used to describe the interest rate for a whole year is applied on the loan mortgage, loan or credit card?

Answer 0

Effective appraisal ( EAPR)
Nominal appraisal ( APR)
Annual percentage rate ( APR)
Allll

Question 1

Hi and has bought a least house. The house still has 10 months more. Can Ryan renegotiate the existing lease when he takes ownership of the property?

Answer 1

Yes if the lease has a sale clause he can negotiate the existing lease when he takes ownership

Question 2

A lease that requires the landlord to pay all open reading expenses of the property is a?

Answer 2

Gross lease

Question 3

Susan is working with the buyers of a particular at ethnicity. Her usual practice is to show them houses in the neighborhoods with mostly all the residents of the year race. She avoids show them properties in non-integrated areas. This practice is called

Answer 3

Steering - guiding costumers toward. away from particular neighborhood based on the year at ethnicity, religion, nationality or race.

Question 4

Escalation clauses in a lease provide the option for

Answer 4

Increased rentals

Question 5

The tenant refused to leave an apartment after the expiration of the lease. The landlords continues to except the monthly tenants rent. The tenant may be said to have

Answer 5

A periodic tenancy

Question 6

The owner of a 10 unit apartment building has sold his property. All the tenants off the building have several months remaining on the leases. Tenants in the situation typically

Answer 6

Do nothing and remain until the end of their leases.

Question 7

Which of the following real estate transactions is exempt from the real estate settlement procedures act (RESPA) provision

Answer 7

Purchase of 50 acres of land.
Finance the purchase of 25 acres or more. Transaction exempt from the real estate settlement procedures act (RESPA) procedures includes

Question 8

In US, complaints in denounces about discrimination issue should be done to

Answer 8

The secretary of housing and urban development and the court directly answer A and B

Question 9

Mike has leave for two years in the building he has until January 31 to leave he would like to have an agreement month to month lease with his landlord leasing is known as

Answer 9

Periodic tenancy

Question 10

If the tenant legally subordinates or subrogates he’s her rental space that means that he she has

Answer 10

Subleased the lease

Question 11

Mike works on commission as independent appliance seller he wants to buy a co-op apartment in applies for approval to the co-op board if Mike is denied to approval by the co-op board he can

Answer 11

He has not legal recourses.

Question 12

Commingling occurs when the real estate broker

Answer 12

Deposit earnest money in the personal account

Question 13

An oral agreement between tenant and landlord is legally

Answer 13

A valid tenancy at will

Question 14

The tenant refused to leave in an apartment after the expiration of the lease without the lendlord permission is called

Answer 14

Tenant at sufferance

Question 15

The person Who receives an offer to sell his property is

Answer 15

Offeree

Is a person to whom an offer is made (seller)

Question 16

Grantee

Answer 16

A person who will be taking title as named in the legal document.

Question 17

Grantor

Answer 17

A person who will relinquished the property give the property.

Question 18

Paul agreed to sell his house to Tom they made in the contract. one week later Paul change his mind. Tom sues Paul for force him to go through the contract. This action is no as suit

Answer 18

Specific performance

Question 19

If the seller wishes to recover monetary damages equals to the extend off loses suffered in excess off the earnest money deposit, he she may

Answer 19

Sue for compensatory damages

Question 20

Robert wants to buy an apartment for his friend Mark. He made an offer to Mark and in the same day they reached a verbal agreement regarding the purchase price and the terms of the sale. What type of contract exist at this point

Answer 20

Express contract
Terms of the agreement which the terms of the agreement are specifically stated by the parts. offer, acceptance, consideration, either orally or in writing or combination of the two

Question 21

Diane transfers the ownership off of resident property to her son John using a grant deed she orderly request to John to not record the deed into she dies. When is the deed valid?

Answer 21

Immediately!

Question 22

Diane transferred the ownership of the residential property to John using a grant deed. She order request John do not require the deed into She dies. John moves the property and he did not record the deed. 10 years later Diene grants the same property to Joana. Joana record the grant deed. Who is that honor of the property

Answer 22

John

Question 23

A quick claim deed conveys only need the interest off

Answer 23

Grantor

Question 24

The type of deed they usually contains the words “ remise end release or similar words is

Answer 24

Quitclaim deed
The grantor signs a deed transferring a any or all interest he may have without claiming ownership of any right of title what so ever

Question 25

In a deed the part off the warranties, that guarantees that the property is free from encumbrances is the

Answer 25

Convenant against encumbrances

Question 26

Once to home owner pays off the money the bank lent them for the mortgage the bank would write——ending your claim against the house

Answer 26

Deed of release