Which statement BEST describes a fee on a condition subsequent?
A. Ownership interest that does not transfer to grantee until something happens
B. A qualified interest that may be lost should something happen
C. A recording charge that need not be paid until the property is sold
D. A nonfreehold interest
Answer: B. A qualified interest that may be lost should something happen
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Gen Xers:
a. spend the least on housing than any other cohort. b. control seventy percent of America's net worth. c. are aged between twelve and eighteen years. d. spend more on food than any other cohort.
Broker Wildon took a listing. Wilson's salesperson brought in an offer. One hour later another offer on the same property came in from a different real estate company. The salesperson from Broker Wilson's office submitted the first offer first. Which of the following is correct?
a. it's all right if the two offices decide on a commission split in advance. b. failure to submit the second offer is permitted if the brokers agree c. Broker Wilson must inform the seller of both offers or be subject to disciplinary action d. only the offer with the highest price need be submitted