Virginia Real Estate National Exam Questions And Answers 100% Correct

How long does a claimant have to file a complaint with the HUD Office of Equal Opportunity? {Ans: 1 year}Escheat? {Ans: When one dies without a will and without heirs, so title involuntarily transfers to the state.}A distinguishing characteristic of owning property by land trust is that? {Ans: The identity of the legal owner is kept confidential}A landlord may refuse to rent to a tenant who? {Ans: Has ever been convicted of selling illegal drugs}If conditions for purchase are included in a deed and these conditions are violated, what is the penalty? {Ans: Return of the property to the original owner}A mortgage is acknowledged by? {Ans: Mortgagors}How do you calculate the amount of interest that will be payed of a 72,00 loan? If payments are 9.35 per 1,000 for 30 years? {Ans: 72k/ 100= 72. 72 times 9.35= 673.50. 673.50 times 360= 242,352. 242352- 72k = 170,352 in interest.}An agent can advertise a property for sale under the agents own name if? {Ans: The official name of the agent broker is also in the ad.}Defeasance clause? {Ans: Gives borrower right to redeem real estate after default on a note.}The most common