FINC 3250 Exam 2 Practice Questions and Answers

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FINC 3250 Exam 2 Practice Questions and Answers Multiple choice questions on paper buyer doesn't own property, but has right to receive 1 of 20 Equitable Title Naked Title Marketable Title Consideration 2 of 20 a way to gain ownership of another person's property by using that property for a long enough period of time - statutory time period, actual, visible, continuous, hostile, notorious, and exclusive Accession Tract Index Inverse Condemnation Adverse Possession tenant pays rent, utilities, and insurance 3 of 20 Fixed Rent Lease Double Net Lease Gross Lease Triple Net Lease 4 of 20 contract that transfers right of use and possession of property to tenant in exchange for rental payments Easement Contracts Deed Lease buyers' homework about the property 5 of 20 due diligence consideration covenant of further assurance forbearance becomes void when illegal 6 of 20 Implied Contract Unspecified Consideration Adverse Possession Unlawful Object of land between two zones intentionally left un-used 7 of 20 Easement Incentive Zoning Buffer Zone Variance promise exchanged for performance (IF YOU DO IT) 8 of 20 Express Contract Inverse Condemnation Liquidated Damages Unilateral Contract power of government to take private land for public use 9 of 20 Consideration Building Codes Public Eminent Domain/Condemnation Double Net Lease

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