Episode 058 - Exam Questions 12

Episode 058 - State Exam Questions 12 Going through more exam questions to help real estate students pass their state exam.   01:45 – What is depreciation? 05:12 – How does a life estate work? Daughter owns a property pur autre vie with her mother. What happens when the daughter passes before the mother? 07:42 – Capital gains exclusion rule. $250,000/$500,000 capital gain exclusion for any owner occupant if they occupied the home as their personal residence for 2 of the past 5 years. 11:38 – What qualifies as a fixture? Are ceiling fans a trade fixture even if they were not in the contract to stay? 14:10 – Disclosure of property defects even if a report says something different. Does the seller have to disclose a defect, even if it doesn’t present as an issue often?   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A