Memphis, TN Real Estate News

By David Saks
((retired))
                                                          #2368 If a title is conveyed and a condition is written into the conveyance stating that no flea market activities may be held on the property this type of title is called a life estate. True or false ? Remember to take your time. The solution is below the wildlife photograph. A. False This type of deed conveyance is known as a fee simple defeasible estate because it can be revoked if a flea market sets up on the property. A life estate only lasts as long as the person that has the deed is living.
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By David Saks
((retired))
                                                      #2367 When we speak of condominiums condominiums are individual housing units that have common areas that are owned in joint tenancy. Is this true or false ? Take your time. The solution is below the wildlife photo. A. Very false The common areas in a condominium development are owned by the tenants as tenants in common and shared equally.
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By David Saks
((retired))
                                              #2366 When we speak of a unit in a cooperative we're talking about a unit that is also owned as a tenancy in common and shared by all of the residents of the building in which it is housed. Is this true or false ? Take your time. The solution can be found below the wildlife photo. A. False A cooperative unit is one of which the building is owned by a corporation and a unit in which the resident actually owns shares. Tenants in common areas are for condominium owners.
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By David Saks
((retired))
                                                        #2365 When a landowner has water flowing through his or her land the landowner's rights to that water are known as easement rights. Is this true or false ? Remember to take your time. The solution is posted below the wildlife photo. A. False When a landowner has rights to the water flowing through his or her land those rights are known as riparian rights. Riparian rights are the water rights of the landowner when the property is crossed by a stream or a body of water.
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By David Saks
((retired))
                                                         #2364 Because drapes are so important when considering the treament of a window they are considered real property. Is this true or false ? Take your time on this tough question. The solution is posted below the wildlife photo. A. False The drapes are personal property. The commode in the bath or the sink in the kitchen would be considered part of the real estate.
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By David Saks
((retired))
                                           #2363 If there's one thing that we can compare real estate to it's personal property. Is this true or false ? Take your time. The solution is posted below the wildlife photo.   A. False Real property consists of everything that's appurtenant and attached to the land. Personal property is usually property which has been severed from the land, and there are even specific legal tests which are carried out to substantiate this fact.
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By David Saks
((retired))
                                                    #2362 Articles and items that are installed by tenants on real estate for use in a business are considered to be easments and fructalis. Is this true or false ? Take your time on this tough one. The solution is posted below the wildlife photo. A. False When a tenant installs an item or a fixture for use in a business the fixture is called a trade fixture. Trade fixtures are also considered the personal property of the tenant.
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By David Saks
((retired))
                                                  #2361 When real property is acquired a specific right accompanies it and this right is referred to as a fixture. Is this true or false ? Take your time on this really tough question. The solution is posted below the royalty-free wildlife photo as usual. A. Absolutely false. The right that accompanies the land is called an appurtenance. The right to access the driveway is an apputenance. The right to pick the fruit off of the trees that are on the land is also an appurtenance.  
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Wells Fargo & Co. announced that it's laying off more than 1,800 employees from its mortgage dvision. The bank just cut almost 2,300 jobs from the division back in August.Wells Fargo spokesman Alfredo Padillo said that the bank is cutting the mortgage department jobs because not many people are refinancing their mortgages.   The job cuts will occur throughout the nation. ReutersAll of the employees impacted by the decision have been given 60 days notice. The bank is looking for other positions for some of the employess affected by the cuts.The California-based company is the nation’s second-largest bank by deposits in the nation. Wells Fargo is the largest originator of residential mortgages in the nation.
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By David Saks
((retired))
There are simple pleasures in Knox County, Ohio.   Beautiful living that appears so relaxed it's profound.   It's the kind of place that I, and many others, long for in a world full of turmoil and unrest.   The wonder of it all resides in the reality that such a place exists.   It awaits those who are ready to find a peace which seems to pass all understanding while they are yet alive to experience such delight.   It's a place where this great life, amidst the homes that make it so, is overseen by a worthy steward who calls himself Sam Miller.     Sam is the top selling agent in Knox County / Mount Vernon, Ohio, and he has been for the past 20 years.   That fact alone speaks volumes about his integrity, his committment, his professionalism and his loyalty.   Sam is a Real Estate Interne...
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By David Saks
((retired))
  Marion Williams (August 29, 1927 – July 2, 1994) She Wants You to Know That Someone Great, Wonderful & Powerful Loves This World We live In. Even With All of the Trouble That's In It. Have a great day ahead. -David-
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There's been a lot of disappointment in the real estate business over the last decade.   You can't deny it.       The collapse of lenders, prominent banks.   Hundreds of mortgage brokerages shut down and loan officers in prison for deceiving and betraying borrowers.   Fraud for profit, fraud for housing, and much more to sour your appetite for this profession.     Subprime devastated millions of families, bankrupted them and put them in the streets.     Robo-signing scandal involving millions of fraudulent foreclosure documents.     Billions of dollars of misrepresentations of fair market value.     Thousands of closing attorneys, appraisers, mortgage brokers, loan officials, bank executives, real estate agents, straw buyers, and others sentenced for real estate fraud.     Real Estate I...
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By David Saks
((retired))
                                                      #2360 When we consider the distance between the east and west boundary lines of any township the distance between the boundary lines is six miles. Is this true or false ? Please take your time. The solution is posted below the wildlife photo. A. True Every township measures six miles by six miles, therefore the distance between the east and west boundary lines is six miles.
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By David Saks
((retired))
                                                       #2359 When we speak of a twonship, a township contains 36 sections that are numbered 1 through 36. In each instance, the last township will be located in the northeast corner. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False Section 36 is always found in the southeast corner of every township. Section one actually begins in the northeast corner and the ascending order begins from right to left for the first six sections at the top of the township and ascends numerically from left to right in the second row which features sections 7 thropugh 12, and so on.
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By David Saks
((retired))
                                                   #2358 The most important thing one should consider when trying to determine whether or not an iten is a fixture of personal property is how the item is being used in relation to the property. Is this true of false ? Take your time. The solution is posted below the wildlife photo. A. False The most important thing to consider when trying to decide whether or not an item is a fixture or personal property is the intention and the addition of the presentation of evidence of the owner's intention to accompany the determination process.
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By David Saks
((retired))
                                                  #2357 Nearly every real estate brokerage has an obligation to pay for a salesperson's cell phone bill, continuing education and gasoline. Is this true or false ? Take your time on this really tough question. The solution is below the wildlife photo. A. Er...uhhh...false ..... Duh....???? Some brokerages will assit agents with fees related to board affiliation or multiple listing fees, but the brokerage has no obligation to assist an agent with gas, continuing education requirements or cell phone expenses.
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By David Saks
((retired))
                                                       #2356 When a salesperson has to pay a desk fee the desk fee is used to pay for meals and never used to pay for the office facilities or as a substitute for the agent's commission. True or false ? Take your time. The solution is posted below the wildlife photo. A. False Office fees are usually paid to compensate for the use of the office facilities and in some cases offset the commission structure.
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By David Saks
((retired))
                                                     #2355 When a real estate agent considers himself an employee or an independent contractor the consideration will have an impact on whether or not the broker will have to pay social security or income taxes. Take your time. The solution is posted below the wildlife photo. Is this true or false ? A. True A broker won't have to pay social security or income taxes if the salesperson is an independent contractor.
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By David Saks
((retired))
                                                     #2354 If a salesperson works for any brokerage as an independant contactor the salesperson must be paid a regular salary by the brokerage, and needs no supervision by the principal broker. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False The salesperson is responsible for their own income as a self-employed individual, which carries the additional responsiblity of filing their own taxes. The salesperson must always be supervised by the broker.
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By David Saks
((retired))
                                                  #2353 It is extremely importaqnt that all real estate agents understand the concepts of contract law, agency, and property laws. Is this true or false or is this something which only concerns a member of the legal profession ? Take your time. The solution is npoted below the wildlife photo. A. True All real estate agents have an obligation to have a fundamental understanding of the laws that apply to contracts, agency and property  laws.
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