The MARIA mnemonic used to identify fixtures in Colorado real estate stands for:
Why Method of annexation, Adaptation, Relationship of parties, Intent, Agreement Is Correct
Answer B: Method of annexation, Adaptation, Relationship of parties, Intent, Agreement
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
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- Under Colorado brokerage relationship law, which relationship presumes a transaction brokerage relationship unless a written agreement creates a different relationship?Agency
- A written buyer agency agreement in Colorado establishes which type of relationship?Agency
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- In Colorado, a 'subordination, non-disturbance, and attornment' (SNDA) agreement in commercial real estate is primarily used to:Escrow & Title
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Key Terms to Know
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
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