Save
Upgrade to remove ads
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Stack #4546201

QuestionAnswer
option commercial CRE option to purchase at a later date
right of first refusal 1st chance to buy
executory offer, contract to purchase, P&S agreement
executed fully performed, all $, title and deed, on record
legal effect valid, void, voidable or unenforceable
essentials of validity capable parties
essentials of validity offer and acceptance
essentials of validity consideration (almost always money)
essentials of validity lawful
essentials of validity real consent (undue influence)
essentials of validity time is of the essence
assignment out w/old, in w/new, both parties jointly liable, sublet
novation replacement, Bob sells interest in contract to Sally
recission cancel w/in 3 days - does not apply to 1st mortgage
listing agreement between seller and agency 1 exclusive right to sell, seller waives for sale by owner rights
listing agreement between seller and agency 2 exclusive agency - seller retains for sale by owner rights
listing agreement between seller and agency 3 non exclusive right to sell, more than 1 agency
listing agreement between seller and agency 4 entry only, enter into in MLS database
gross lease flat fee/rent
net lease base rent plus utilities, tax/insurance, maintenance
graduated lease year round, escalator clause on seasonal basis (up and down)
index lease rent is pegged to index
% lease base rent + % of sales
ground lease improvements are security for the lease (improvements pays for improvements)
offers contract to purchase, can be revoked until accepted, expires in reasonable time (based on market)
what is turned in with offer offer form, copy of deposit check, lender letter, relationship disclosure - must be presented to seller forthwith
how long is home inspection contigency 7-10 days - buyer can back out after that but will probably lose deposit
how long is mortgage contigency 30 days
home sale contigency need to sell current home to buy newer home
McCarthy vs Tobin court ordered legal remedy specific performance
1971 Mass and federal passed 1st lead paint law
1978 outlawed use of lead paint in residential properties
1951 baltimore passed 1st lead paint law (johns hopkins study)
house build before 12/31/77 might have lead paint
buyer responsible for due to lead compliance = delead. must do w/in 90 days if child under 6 resides
landlord responsible for due to lead is there a child under 6? fair housing violation
vacation rental responsible due to lead if no peeling paint rental 31 days or less ok
2017 lead paint law reduced the amount of surfaces, focused on doors windows and stairs, made the standard of what constitutes lead poisoning stricter
residential sale paperwork LEAD must give to all, 11 page document, must sign before p&s
Mass consumer protection act liable sellers and real estate agents who do not meet requirements can be fined 1000 MA, 10,000 civil and possible criminal sanctions
tax credit to delead MA 1500
Property tax assessed value x tax rate
levy for special assessment if town adds sewer, water lines by your house
escheat die w/o heirs, government gets house
eminent domain land taking, must be a group (example - adding highway), prove your property is essential, you get paid fair market value
Zoning police power, the ability of the govt to regulate, no compensation, land use
confirming using the land as intended by zoning
non conforming preexisting use of land before zoning took place
spot zoning when a small parcel of land is reclassified as different use than surrounding area
special permit plan denied, appeal to zoning board, can be swayed
1 mile 5280 feet
320 rods 1 mile
1 rod 16.5 feet
township 6 miles x 6 miles
36 sections in one township 1mile x 1mile
1 acre 43,560 square feet
1 square mile 640 acres
Created by: LarissaTrox
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards