Title
Who is the lessor?
What is a LANDLORD or PROPERTY OWNER?
This is the property being appraised.
What is the SUBJECT PROPERTY??
TRUE OR FALSE
The Federal Uniform Act does not have to be followed when federal funds are not used for acquisition or right of way.
FALSE
Name 3 forms/docs included in your file for an LP (LOCAL PROGRAMS) Project.
1. PRELIMINARY TITLE REPORT
2. APPRIASAL
3. TDOT BROCHURE
4. FORM 17B (OFFER TO ACQUIRE)
5. FORM 30A (SELLERS ACKOWLEDGEMENT)
6. FORM 17 (NEGOTIATIORS CERTIFICATION)
TRUE OR FALSE??
A trust deed is an instrument used to transfer personal property.
FALSE
What is FMV? (FAIR MARKET VALUE)
Who is primarily responsible for transportation projects undertaken with federal funding?
What is TDOT?
TRUE OR FALSE??
A contract for the sale of land must be in writing in accordance with the Statute of Frauds.
TRUE
How the title is held on a property?
What is VESTING?
What does GIS stand for?
What is GEOGRAPHIC INFORMATION SYSTEM?
What does USSE stand for??
What is UTILITY STATION SITE EASEMENT??
What is an ADMINISTRATIVE SETTLEMENT??
Which document conveys title with NO warranties, expressed or implied?
What is a QUITCLAIM DEED??
What is the highest form of Land Ownership?
What is FEE SIMPLE?
In valuations what compensation amount does METRO projects require an appraisal?
What is $35,000??
What is a DONATED PROPERTY?
What is a CHAIN OF TITLE??
These are defined as: physically possible, legally permissible, financially feasible, and maximally productive.
What is HIGHEST AND BEST USE test??
This is a physical intrusion where a structure, fence, tree, or driveway crosses a legal property boundary onto a neighbor’s land or public property.
What is an ENCROACHMENT??
When two or more people have identical interests in the whole property with the same right of possession and the right of survivorship, this is called??