Difference between the fair market value and the mortgage.
What is Equity
100
a key advantage of owning a home.
What is the ability to do with it as you wish without having to deal with another owner.
100
Location, Down Payment, Mortgage rates, Monthly paymments, Maintenance, are some _____ to home buying.
What is Elements of buying a house
100
owner's heirs inherit that person's share of the property upon death.
What is Tenancy in common
100
Henry DiRito and oskar henrich own a parcel of real property as tenants in common. When henrich dies, who owns the property?
What is Henrich hier , or henry diRito.
200
Written instrument that transfers ownership of real property.
What is Deed
200
Why is equity an advantage.
What is because it increases the property value as you pay off the mortgage.
200
Offer the most privacy and usually have more overall usable space than other types of housing.
What is Single- and multifamily houses
200
Joint tenancy
What is type of ownership in which two or more people own an interest in the whole property.
200
two years after smith starts raising pigs on her property, the neighborhood in which she lives is rezoned. the new zoning law prohibits raising of certain animals, including pigs. Must smith stop raising pigs? Why or why not?
What is No she does not need to stop because she was raising them before it was rezoned. But she can't expand anymore.
300
easement
What is right to use the land of another in a limited way
300
Upkeep
What is a disadvantage of owning a home.
300
Moblie homes
What is a manufactured home, less expensive to purchase than others and cost less to upkeep
300
only a husband and wife have this ownership
What is tenancy by the entirety
300
rob and lucy whitney, newlyweds, are interested in buying a home. their income is relatively samll right now, but they expect to make more money in the future, when lucy finishes law school. What type of mortgage might rob and lucy wish to consider.
What is Tenancy by the entirety
400
Written instrument by which the borrower pledges real property to the lender
What is mortagage
400
what are some disadvantages to home buying.
What is upkeep, inability to move easily, taxes.
400
a form of home ownership in whcih buyers purchase shares in the corporation that owns an apartment building and holds the mortgage.
What is Cooperatives
400
how many different keeps of deeds are there.
What is 4
400
Joe lives right by the highway, the state is expanding the road, which will go on to some of his land. Does the government have the right to do this? And what is the legal term.
What is yes, eminent domain
500
Debt ratio
What is the amount of your monthly payments compared to your monthly income.
500
you can also deduct property taxes and interest paid on your mortgage from your income tax return.
What is an advantage to home buying.
500
often called a condo, owners have individual interest in an apartment unit.
What is condominiums
500
what are some types of deeds?
What is general warranty, special warranty, bargain and sale, quitclaim.
500
Mrs. Taylor bought a home from another home owner, when she got moved in the government tried to remove her from her house because she didn't have the poper paper work. what is a document that the other owner must sign and give to her. and does the government have the right to do this.