In a neighborhood, there is a transition zone between residential zone and a com
ID: 395246 • Letter: I
Question
In a neighborhood, there is a transition zone between residential zone and a commercial zone. This transition zone also often called a
dezoned space.
garden zone.
buffer zone.
freedom zone.
Marylin and Andy live together and are co-owners of a property but are not married. What is the most likely form of co-ownership for Marylin and Andy?
Tenancy by the entireties
United tenancy
Partnership tenancy
Tenancy in common
The minimum balance that must be maintained in the Tennessee Real Estate Education and Recovery Account at all times is:
$500,000
$750,000
$1,000,000
an amount that depends on the Consumer Price Index.
Explanation / Answer
Answer- Buffer Zone
Explanation- A transition zone acts as boundary between two different zones. An important factor to be considered in a transition zone is that the boundary should be well distinguished with plots and not just streets. Transition zone is to ensure the smooth transition from one zone to another. In the question mentioned above, there is a transition zone from residential zone to commercial zone. Hence, these two zones need to be distinguished with what is called as “buffer zones”. Buffer zone is to create a neutral space between two types of zones or properties such as commercial and residential.
Answer- Tenancy in common
Explanation- The most preferred option for unmarried couples is ‘Tenancy in Common’. In contrast to a joint tenancy, the tenancy in common states that the partner does not have any automatic right to inherit the property on the death of the other partner. In case one of the partner dies, then the property is inherited by the person mentioned in the will or living trust.
The minimum balance that must be maintained in the Tennessee Real Estate Education and Recovery Account at all times is:
Answer- $500,000
Explanation- The Tennessee Real Estate Education and Recovery Account is maintained by the Tennessee Real Estate Commission. The minimum balance in this account should be maintained at $500,000 (five hundred thousand dollars).
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