Ma Real Estate Exam General Questions With Answer

factors affecting real estate demand {Ans: population, employment, wage levels.}Single Agency {Ans: In single agency the agent represents only one party in any single transaction. Either the seller or buyer.}General Warranty Deed {Ans: Has 5 covneants. covenant of seisin(grantor owns property), covenant against encumberances(free from liens), covenant of quiet enjoyment, covenant of further assurance(grantor promises to get anything needed to make the title good), covenant of warranty forever.}net lease {Ans: the tenant pays all or some of the property charges in addition to the rent. The monthly rental is net income for the landlord. Usually commercial.}creating a joint tenancy {Ans: a joint tenancy can only be created by the intentional act of conveying a deed or giving the property by will. special wording is required in a deed for jt's such as "to A nd B as joint tenants with the right of survivorship". 4 unities are necessary to creat a joint tenancy and these are posession, interest, time and title. A joint tenancy is terminated when any one of the four unities is terminated.}Bundle of legal rights {Ans: posession, control, quiet enjoyment, exclusion, disposition.}constructive notice {Ans: the legal presumption that information may