Residential Rental Property Is Defined as Property from Which More

question 32

True/False

Residential rental property is defined as property from which more than 80% of the gross rental income is rental income from dwelling units.

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Definitions:

Express Ratification

The explicit approval or confirmation of a previously unauthorized act.

Age of Majority

The legally defined age at which an individual is recognized as an adult and is fully accountable for his or her actions.

Intends

Plans or aims to carry out a specific action in the future.

Disaffirm

The act of rejecting or voiding a contract or agreement, especially one entered into by a minor or under conditions that make it voidable.