Real Estate QUIZMASTER

1. Real Estate QUIZMASTER Commercial Leases Definitions Analytical Deeds Miscellaneous 100 100 100 100 100 200 200 200 200 200 300 300 300 300 300 400 400 400 400 400 500 500 500 500 500 “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

2. Real Estate QUIZMASTER Commercial Leases Definitions Analytical Deeds Miscellaneous 100 100 100 100 100 200 200 200 200 200 300 300 300 300 300 400 400 400 400 400 500 500 500 500 500 “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

3. Definitions for 100 • This is something of value given by both parties to the contract “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

4. Definitions for 200 • This is an invitation to • contract and requires • language evidencing the • intent to contract presently “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

5. Definitions for 300 • Such a title is free of • problems or objections that • cast doubt on the quality of • the title or on the seller’s • authority to convey it “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

6. Definitions for 400 • This is the judicial process of having property sold as a means of satisfying debt that the property secured “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

7. Definitions for 500 • This process allows the government to immediately get title to the land so that no public development is delayed “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

8. Analytical for 100 • It is necessary to specify the exact ________ of consideration for the real estate deed to be legally valid “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

9. Analytical for 200 • If a dispute arises between the Lessor and Lessee, most states will allow a tenant to withhold _____ till the dispute is settled “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

10. Analytical for 300 • No fraud will have been committed even if the seller conveys false information, if the seller ________ “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

11. Analytical for 400 • ________ does not cover any defects that were in existence at the time the policy is written “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

12. Analytical for 500 The words “Do hereby grant and convey to John E. Doe” in a deed convey that Mr. Doe has __________ “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

13. Deeds for 100 • This deed is given by a court “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

14. Deeds for 200 • This deed is only valid for a limited time “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

15. Deeds for 300 • This deed serves to transfer title “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

16. Deeds for 400 • In this type of deed, one of the grantor’s promises is that his title to the property is good “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

17. Deeds for 500 • This type of deed is issued after the period of redemption in a mortgage foreclosure has passed “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

18. Commercial Leases for 100 This is an arrangement when the tenant as an owner buys the property and sells it to some third party “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

19. Commercial Leases for 200 In this kind of lease, the tenant agrees to build the improvements and holds a long term leasehold interest “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

20. Commercial Leases for 300 • In this type of lease, the landlord pays all operating expenses and the tenant pays a single lease payment “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

21. DAILY DOUBLE “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

22. Daily Double Commercial Leases for 400 • This is a type of lease where the tenant pays certain defined expenses and the landlord pays everything else “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

23. A synthetic lease is structured in such a way that it is recorded as an expense on the _______ Commercial Leases for 500 “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

24. Miscellaneous for 100 • The offerer cannot revoke the offer once it has _________ “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

25. Miscellaneous for 200 ALTA stands for _________ “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

26. Miscellaneous for 300 • This term is used when a landowner dies without a will “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

27. Miscellaneous for 400 • The right of a governmental entity to take title to private property for public use is called _________ “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

28. Miscellaneous for 500 • Such a tenancy does not have a definite ending date “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner