John Renola

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Viewing 15 posts - 1 through 15 (of 237 total)
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  • in reply to: General Questions #4613
    Natalie Hirschi
    Participant

    Is there a printable set of the crosswords we can access? 

    in reply to: Crosswords and References #4617
    Julie Glenn
    Participant

    There is not a pdf version of the crosswords but you can print them directly from the webpage. They fit on landscape view if you adjust your printer settings. If you have difficulty with it, you can email me directly with the crossword you want and I can convert to a pdf and sent it to you directly. julie@stringhamschools.com

    Thanks!

    in reply to: General Questions #4913
    SuAnne Wright
    Participant

    How do I figure out the actual degree of a specific section? I know how to find the points, but not sure how to come up with the degree.

    Thank you,

    in reply to: Survey-Metes and Bounds #4915
    Brian Swan
    Keymaster

    You won’t be expected to determine measurement degrees on the exam, nor in the field. This practice is done by a surveyor. You can get a rough idea of how it’s done by reading page 6-6 in your textbook, but to ascertain an actual measurement requires specific and certain instruments.

    in reply to: General Questions #5161
    Saray Mattson
    Participant

    I feel like I understand Fee Simple Determinable, from what I understand property can be used for a SPECIFIC USE ONLY and if violated goes automatically to Grantor.

    But I am struggling with is grasping Fee Simple with Condition Subsequent. I understand it is not an automatic reversion to Grantor and I understand that Determinable and Condition they are both violating, but i can’t seem to put a exact meaning. 

    I would appreciate a different outlook/explanation in regards to the above.

    Thank you.

    in reply to: General Questions #5163
    Saray Mattson
    Participant

    I had to spend extra time to get this through my head. Please correct my thoughts to make sure I am learning this correctly. Also if available do you by chances have worksheets with scenarios in regards to this topic with the answers, so i may quiz myself?

    HOLDER OF A LIFE ESTATE
    GRANTOR gives his life estate/Property to HOLDER So long as HOLDER is ALIVE.

    REMAINDERMAN
    GRANTOR gives Property to HOLDER but then HOLDER DIES, then the property moves/transfers over to the REMAINDERPERSON/MAN and now the REMAINDERPERSON/MAN typically owns the property Fee Simple.

    HOLDER OF RIGHTS OF REVERSION
    GRANTOR gives Property to HOLDER but then HOLDER DIES, then the property moves/transfers over to the REMAINDERPERSON/MAN (BUT IN THIS CASE THE GRANTOR IS THE REMAINDERMAN).

    HOLDER OF A LIFE ESTATE PUR AUTRE VIE
    GRANTOR gives his life estate/Property to HOLDER and HOLDER decides to sell it to SOMEONE ELSE, so long as HOLDER is ALIVE, SOMEONE ELSE can live in the property, enjoy it, based on as long as HOLDER is ALIVE.

    I do have a question on the Pur Autre’ Vie. Why would anybody purchase a property that is not really theirs? because it’s base on another’s life being alive. This is also causing confusing to me.

    Thank you.

    Hannah Welch
    Member

    Hello Saray!

    Excellent Question. Just like you said with Fee simple Determinable, the grantor says “you can keep the property if and only if you do this”, and if that condition is violated, the property automatically reverts to the grantor. However, with a fee simple with a condition subsequent, the grantor says “you can keep the property only if you do this”. The difference being that the grantor or his/her heirs have to take affirmative action to gain the property back, such as filing a lawsuit. If the grantee violates the condition, and the grantor does nothing about it, than the grantee can keep it, so long as the grantor does nothing. Does this clarify the difference? If you have any other questions, feel free to ask!

    in reply to: Life Estate #5168
    Hannah Welch
    Member

    Saray,

    Another excellent question. Honestly, it does not happen very often. When it does, the purchaser likely does not pay full price. Common situations may be a person has a farm as a life estate, and doesn’t want to farm it anymore. He could sell his life estate farm to the neighbor for him to farm while the holder lives. Also, your definitions and explanations look good. My only comment would be with Rights of reversion, the grantor is technically not called a remainderman. They are still the grantor with the right of reversion. Good luck with your studies, you’re doing great!

    Saray Mattson
    Participant

    Yea I think this makes sense. Just wondering how they would ask this question in a test. Thanks for your help

    in reply to: Life Estate #5170
    Saray Mattson
    Participant

    Got it. I’m so happy I was able to see the light on this. In watching the video i guess it kinda of confused me, because he had written Remainderman and my mind must of zoned out as to what he was saying. Thank you again.

    in reply to: General Questions #5171
    Saray Mattson
    Participant

    I had my credit erased when you guys updated the Deeds and Transfers, but I went ahead and completed it again, figured it would just be a review, but I noticed that your Ownership & Principles is currently being updated.

    When will the update be complete? I don’t want to start on it and have credits erased again. Plus would like to watch the updated version.

    Also as it is right now with all the updating. Do I have to follow the curriculum in order?
    Is it a road block?
    Can I go around it?
    For example, could I jump into Contract Law, even though I haven’t finished Real Estate Ownership and Law of Agency?

    Or is there things i need to learn first before I go jumping into different categories?

    Also have you guys added additional categories? Does it make my “Real Estate Sales Attendant Record”(blue paper) outdated?

    Brian Swan
    Keymaster

    Saray,

    We go over this in the State Prep Class in quite a bit of detail. The difference between the Fee Simple Defeasible and the Fee Simple with Condition Subsequent comes down to two things: (1) How the deed was written; and (2) how the grantor gets the property back if the deed condition was violated. The exam will not test you on the language of the actual deed, but you do need to know that a Defeasible Fee creates an automatic reversion if the condition is violated, and the Condition Subsequent creates a right of re-entry which requires a lawsuit for the grantor to get the property back. The exam questions aren’t too deep or involved. If you know the basic mechanics, you’ll be just fine.

    in reply to: Ownership Principles, when will it be updated? #5174
    Brian Swan
    Keymaster

    First, there is no order to the curriculum. You can jump to contracts or another topic and revisit property later.

    Second, I will have our IT Developer get in touch with you regarding the account updates and how it has affected your credits.

    Lastly, we have not added additional categories. We are simply reproducing all of our current classes in the form of video.

    Saray Mattson
    Participant

    Brian, 

    Thanks for your response, just want to clarify. Your words: “…need to know that a Defeasible Fee creates an automatic reversion if the condition is violated…” – Did you mean to say, “Determinable?”

    I thought that Defeasible meant that it has some conditions, covenants, that limit the extent of one’s ownership. Or is Deafesible also the same as Determinable or used/heard as the same.

    Just like Fee Simple, Fee Estate and Fee Simple Absolute mean the same thing.  

    But other than that it does make sense. Talking about it helps a lot. 

    in reply to: Ownership Principles, when will it be updated? #5180
    Saray Mattson
    Participant

    Brian, 

    Thank you for your response.

Viewing 15 posts - 1 through 15 (of 237 total)
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