Real Estate Class Final Exam 2024/2025 Already Graded A+

What are the 4 types of Involuntary Alienation? {Ans: 1. Descent - A person dies intestate (no will) but has heirs that the law will disperse the property to. 2. Escheat - A person dies intestate (no will) with no heirs so the property goes to the state. 3. Adverse Possession - when land is occupied continuously, openly, hostile, exclusively and notoriously for 7 years by another person. Squatter Rights. 4. Eminent Domain - when an owners land is take for public use through a condemnation proceeding with payment to the owner}What are the 4 types of deeds? {Ans: 1. General Warranty Deed 2. Special Warranty Deed 3. Bargain and Sale Deed 4. Quitclaim Deed}Under FREC rules, a Fla resident is a person who has {Ans: resided in Fla for at least 4 mos within the preceding year.}Encroachment {Ans: Survey (dancing words)}If a Landlord collects security deposits and advance rent, what 3 things MAY he do with the money? {Ans: 1. Hold the money in a separate NON-interest bearing Fla bank and not commingle the funds with his own 2. Hold the money in a separate interest bearing acct and pay the tenant at least