David Saks: July 2014

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 2820

  #2820

A developer subdivided and made some improvements to a 150 acre parcel of land.

The developer created several restrictions, which, by design, were placed in the deed to affect the subdivision.

These restrictions affect all of the owners and are not enforceable by law.

Is this fact true or false ?

Please take your time. The solution is posted below the wildlife photo.

wildlife

A. False

The developer has created restrictive covenants and they are enforceable.




David Saks



Time&Temp Memphis

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Comment balloon 1 commentDavid Saks • July 07 2014 01:14AM
Real Estate Practice : Lesson 2820
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#2820 A developer subdivided and made some improvements to a 150 acre parcel of land. The developer created several restrictions, which, by design, were placed in the deed to affect the subdivision. These restrictions affect all… more
Real Estate Practice : Lesson 2819
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#2819 Once the underwriter has been able to verify the amount of a borrower's stable monthly income, the underwriter will then use a process which will employ gross multipliers to determine whether or not the income is adequate enough to repay… more
Real Estate Practice : Lesson 2818
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#2818 The quality of a loan applicant's income generally depends on whether or not it's taxable income in the decision making process for the underwriter, and not as much the dependability of the income. Is this fact true or false … more
Real Estate Practice : Lesson 2817
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#2817 Stacy is a college student that is buying her first home. She doesn't have enough money for the closing table so her parents have graciously offered to give her 4000 dollars to close with as a gift. In this situation… more
Real Estate Practice : Lesson 2816
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#2816 When the underwriter aquires the credit report of the applicant it will usually contain information pertaining to the applicants debt and payment history for the last ten years Is this fact true of false Take your time… more
Real Estate Practice : Lesson 2815
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#2815 Frederick and Marlene Silverman have a monthly housing expenditure of 1500 dollars, their monthly credit card payments equal 200 dollars, and they have a car note of 225 dollars. They have a monthly income of 5500 dollars. … more
Real Estate Practice : Lesson 2814
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#2814 A rule of thumb for a lender when considering a loan application is that the borrower should have been continuously employed on the same job for a minimum of five years Is this true or false Take your time. The solution… more
Real Estate Practice : Lesson 2813
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#2813 When a lender issues a letter stating the maximum loan amount that the lender will authorize this is know as preconclusion of process Is this fact true or false Please take your time. The solution is posted below the… more
Real Estate Practice : Lesson 2812
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#2812 When we talk about loan discount points we're talking about payment for costs which are typically associated with a loan origination fee Is this fact true or false Take your time. The soultion is postd below the wildlife… more
Real Estate Practice : Lesson 2811a
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#2811 The charges which are payable to or by any parties to a real estate transaction always show up on the lender disclosure statement Is this fact true or false Take your time. The solution is posted below the wildlife photo… more