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Question
When one holds unimproved land as an investment, expenses such as taxes and interest area. not deductible for income tax purposes.
b. deductible in the year in which the expenses are incurred.
c. deductible the following year.
d. deductible only when the property is sold.
Answer
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Related questions
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b. Lender
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a. transfer of title.
b. hypothecate property.
c. secure a note.
d. secure a mortgage.
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If an owner of a single-family residence defaults on his mortgage, it can
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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.
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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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a. borrower.
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a. Estoppel
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a. fewer in number.
b. broader in coverage.
c. more restrictive.
d. greater in number.
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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.
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a. conveyance.
b. covenant.
c. acknowledgement.
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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.
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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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a. rewritten.
b. rejected.
c. reworded.
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a. Accept it
b. Modify it slightly before acceptance
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a. a power of attorney.
b. an agency relationship.
c. special agent status.
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b. an implied contract.
c. a unilateral contract.
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