Tennessee Specialty Topics

Question 1

requires the 15-hour appraisal course be taken by all level of appraisers in Tennessee.

Answer 1

Uniform Standards of Professional Appraisal Practice (USPAP)

Question 2

s ownership by one, with the right of inheritance.

Answer 2

Tenancy in severalty

Question 3

ownership by more than one, allowing for unequal percentages of ownership, with the right of inheritance.

Answer 3

Tenancy in common

Question 4

ownership by more than one; percentages of ownership must be equal, with the right of survivorship.

Answer 4

Joint tenancy

Question 5

Tennessee’s marital tenancy with both spouses owning 100% of the property, thereby creating a survivorship right.

Answer 5

tenancy by the entirety

Question 6

is the absolute ownership of a unit in a multi-unit building based on a legal description of the airspace the unit actually occupies, plus an undivided interest in the ownership of the common elements, which are owned jointly with the other condominium unit owners.

Answer 6

condominium

Question 7

a form of ownership interest that may include an estate interest in property and that allows use of the property for a fixed or variable time period.

Answer 7

time-share

Question 8

is the act that governs residential rentals in Tennessee.

Answer 8

Uniform Residential Landlord and Tenant Act

Question 9

What are the requirements to become a licensed home inspector in Tennessee?

Answer 9

A high school degree or GED and 90 classroom hours

Question 10

Ownership of a condominium is noted by what document?

Answer 10

deed

Question 11

Landlord-tenant disputes are usually heard by

Answer 11

general sessions court or circuit court.

Question 12

Time-shares may be sold for compensation by licensees holding

Answer 12

any real estate license.

Question 13

A Certified General Appraiser must have

Answer 13

a bachelor’s degree and 300 classroom hours.

Question 14

How many hours must a Certified Residential Appraiser be supervised before becoming a Certified General Appraiser?

Answer 14

3000 hrs

Question 15

The experience requirement under supervision for a licensed appraiser to become a Certified Residential Appraiser is

Answer 15

2500 hrs

Question 16

A lease that may be enforceable even though it is NOT in writing is a lease

Answer 16

for one year or less.

Question 17

The license that one must have to run a property management office is

Answer 17

brokers license

Question 18

The experience requirement as a registered trainee before one can become a Licensed Appraiser is

Answer 18

2000 hrs

Question 19

In what tenancy is there an inheritance right and possible unequal percentages of ownership?

Answer 19

tenancy in common

Question 20

What credential must a Certified Residential Appraiser have?

Answer 20

An associate’s degree and 200 classroom hours

Question 21

What type of tenancy requires four unities and has a survivorship?

Answer 21

joint tenancy

Question 22

An eviction process begins with the landlord notifying the tenant they are in breach and stating that the lease will be terminated

Answer 22

30 days from the tenant’s receipt of the notice.

Question 23

synonym for a verbal lease

Answer 23

parole lease

Question 24

Who serves the actual eviction notice?

Answer 24

county sheriff