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Question
A rental property produces $2,000 per month in rents and consumes $600 per month in operating expenses. The mortgage payment is $1,200 per month. For the investor, this property produces aa. positive cash flow.
b. zero cash flow.
c. negative flow.
d. break even cash flow.
Answer
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Related questions
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Who is the trustor in a deed of trust?
a. Borrower
b. Lender
c. Grantor
d. Vendor
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A trust deed can be used for all of the following EXCEPT
a. transfer of title.
b. hypothecate property.
c. secure a note.
d. secure a mortgage.
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When a lender voluntarily takes a lower position than he would normally be entitled to the process is known as ____________________.
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If an owner of a single-family residence defaults on his mortgage, it can
a. not be foreclosed if an ALTA title insurance policy insured it.
b. be foreclosed on.
c. not be foreclosed on if the mortgage went into effect before 1978.
d. only be foreclosed on if an ALTA title insurance policy insured it.
Q:
Which of the following claims against a real property interest would be the first to be satisfied?
a. First trust deed
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d. Newly filed IRS tax lien
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a. Property tax lien
b. Mechanic's lien
c. First mortgage or trust deed
d. The lien which is recorded first
Q:
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a. borrower.
b. lender.
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Q:
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a. Estoppel
b. Covenant
c. Dedication deed
d. Real estate given as security
Q:
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a. fewer in number.
b. broader in coverage.
c. more restrictive.
d. greater in number.
Q:
The actual passage of title occurs when the deed is
a. acknowledged and recorded.
b. signed and acknowledged.
c. delivered and accepted.
d. executed by the grantor.
Q:
Title to real property will most likely transfer when the deed is
a. delivered but not signed.
b. signed by the grantor but not delivered.
c. recorded but not delivered.
d. executed and recorded.
Q:
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a. conveyance.
b. covenant.
c. acknowledgement.
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Q:
A trust is an arrangement whereby title to real and/or personal property is transferred by its owner (the trustor) to a ____________________.
Q:
Rights, benefits, and obligations under a contract can not be assigned to someone else.
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A unilateral contract results when a promise is exchanged for a promise.
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The absence of duress, menace and undue influence are requirements of lawful objective.
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An acknowledgement is necessary for a valid real estate contract.
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If a contract is considered voidable, it is valid until voided.
Q:
The sum of money agreed upon in advance to be the damages in the event certain problems occur later is best described as
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b. liquidated damages.
c. default damages.
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Q:
The term "rescinded" in real estate means
a. rewritten.
b. rejected.
c. reworded.
d. canceled.
Q:
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a. Accept it
b. Modify it slightly before acceptance
c. Withdraw it prior to acceptance
d. Accept and counter with conditions
Q:
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a. offeree.
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c. offeror.
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Q:
The broker has the power to sign documents for the principal. This is probably because she holds
a. a power of attorney.
b. an agency relationship.
c. special agent status.
d. an attorney-at-law.
Q:
When one party to a contract makes a promise without first receiving any promise of performance from the other, it is called
a. a bilateral contract.
b. an implied contract.
c. a unilateral contract.
d. an executory contract.