Christie Wallace Bergen
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real estate real estate Quiz on Christie's Real Estate Test, created by Christie Wallace Bergen on 09/10/2018.

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Christie Wallace Bergen
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Christie's Real Estate Test

Question 1 of 140

1

priority of interest in real estate is usually determined by:

Select one of the following:

  • date of the document

  • actual knowledge

  • date of recordation

  • reference to statute of frauds

Explanation

Question 2 of 140

1

Which of the following statements is INCORRECT?

Select one of the following:

  • a deed conveys a present interest in real estate

  • a will conveys no interest in real estate until after the death of testator

  • a deed conveys a future interest in real estate if so specified by the grantee

  • A will conveys no interest in real estate until it is probated

Explanation

Question 3 of 140

1

If a purchaser breaches a valid and enforceable sales contract, the seller may at his/her option

Select one of the following:

  • declare the contract forfeited and retain as liquidated damages any payments received from the buyer

  • rescind the contract and return any payments received from the buyer

  • sue for specific performance

  • any of the above

Explanation

Question 4 of 140

1

All of the following are examples of how a contract may be discharged EXCEPT:

Select one of the following:

  • expiration of time according to the statute of limitations

  • unilateral rescission by a defrauded purchaser

  • novation

  • supervening illegality

Explanation

Question 5 of 140

1

Frances, an elderly lady, entered into a contact to sell her home when her unscrupulous nephew Bruce took unfair advantage of his relationship with her. Frances

Select one of the following:

  • Will have to sell if the purchaser is an innocent third party

  • may rescind the contract if she chooses

  • will not have to sell because the contract is void due to fraud

  • will have to sell but has legal recourse against Bruce

Explanation

Question 6 of 140

1

A novation can be any of the following EXCEPT:

Select one of the following:

  • substitution of a new contract for an existing contract.

  • substitution of one party for another

  • substitution of a new obligation to discharge a former obligation

  • substitution of a new agreement by one party against the wishes of the other party

Explanation

Question 7 of 140

1

An executory contract is one where

Select one of the following:

  • something reminds to be done by one of both parties

  • the contract has been properly signed

  • contract time limit has expired

  • one of the parties has died before closing and the decedents executor must act on behalf to he deceased.

Explanation

Question 8 of 140

1

An implied contract is one where:

Select one of the following:

  • The parties express their intent orally

  • The parties express their intent in writing

  • The parties agreement is shown by their acts and conduct

  • one party makes a promise in order to induce another party to act.

Explanation

Question 9 of 140

1

Which of the following will normally control the contents of a deed ?

Select one of the following:

  • the listing agreement

  • the contract for sale

  • the verbal representation of seller and broker

  • a properly executed power of attorney by the seller

Explanation

Question 10 of 140

1

The Statue of Limitations refers to

Select one of the following:

  • Rights

  • time

  • terminology

  • legal description

Explanation

Question 11 of 140

1

A broker has listed a property for a client who lives in another state. when an offer is received from a cooperating agent, it is FAXED to the owner. he then FAXES back a signed acceptance to his agent who in turn delivers it to the buyers agent. When did it become a binding agreement?

Select one of the following:

  • when the seller signed it

  • when it was received by the listing agent

  • when it was received by the buyers agent

  • never because FAXED signatures are not legal

Explanation

Question 12 of 140

1

Broker Mike Stevens Tells Andy Malcolm that certain land is zoned for industrial use. Although Stevens thought he was correct, the land was actually zoned for residential. Malcolm relied on stevens' representation and signed a contract to purchase the land.

Select one of the following:

  • Malcolm may rescind the contract

  • the contract is void because of fraud

  • the contract lacks mutual assent

  • the contract is valid and enforceable because Stevens made an honest mistake.

Explanation

Question 13 of 140

1

When there is a conflict between the wording of portions of a sales contract, which of the following takes precedence over all other wording?

Select one of the following:

  • Typewritten

  • printed

  • standard

  • handwritten

Explanation

Question 14 of 140

1

white of the following parties receives equitable title?

Select one of the following:

  • optionee

  • vendee

  • lessee

  • mortgagee

Explanation

Question 15 of 140

1

A land contract is:

Select one of the following:

  • A financing arrangement where the purchaser pays regular installments of principal and interest to the seller while the seller retains title.

  • a method which is used exclusively for the purchase of vacant land

  • illegal

  • unrecordable

Explanation

Question 16 of 140

1

An enforceable sales contract must include all but which of the following

Select one of the following:

  • reality of consent

  • an earnest money deposit

  • be in writing

  • mutual assent

Explanation

Question 17 of 140

1

Mary Jo Davis gives Steve Calvin an option to buy her farm within the next year for $500k. Calvin agrees to pay $10k for the option. Regarding this transaction which of the following is correct?

Select one of the following:

  • If calvin does not exercise his option, Davis must return the option money

  • davis is the optionee

  • calvin does not have the right to use the property during the option year

  • is calvin exercises his option, the $10k will automatically be applied to the purchase price

Explanation

Question 18 of 140

1

If a seller deposits the deed with an escrow agent, but the seller dies before it is delivered to the purchaser, the transfer of title becomes effective on the date the deed was deposited into escrow. this procedure is allowed by

Select one of the following:

  • the parties reality of consent

  • the law of contracts

  • the parol evidence rule

  • the doctrine of relation back.

Explanation

Question 19 of 140

1

in order to enter into a contract to buy real estate. a corporate official who signs the agreement must obtain

Select one of the following:

  • the president of the corporation

  • a majority vote of the stockholders

  • a corporate resolution passed by the Board of Directors

  • the chairman of the board of directors

Explanation

Question 20 of 140

1

Seller Evans, having signed a contract of the sale of her home, verbally promised the buyer that the living room would be painted. when the buyer moved in, the buyer discovered that the room hadn't been painted as promised. Under these circumstances:

Select one of the following:

  • The seller breached the contract

  • the buyer has no legal recourse

  • the seller must reimburse the buyer a reasonable amount for failure to paint the room

  • the buyer has a legal basis for a suit for damages

Explanation

Question 21 of 140

1

Before being notified of the seller's acceptance, the prospective purchaser may:

Select one of the following:

  • Withdraw the offer and receive a full refund of the earnest money deposit

  • not withdraw the offer until the seller has had a reasonable time to consider it

  • withdraw the offer and receive a full refund of the earnest money deposit unless the offer had a time limit which has not yet expired

  • withdraw the offer but forfeit the earnest money

Explanation

Question 22 of 140

1

the provision in a sales contract which obligates the seller to repair a leaking basement one year after closing is called.

Select one of the following:

  • a liquidated damages clause

  • time is of the essence

  • a survival clause

  • relation back clause

Explanation

Question 23 of 140

1

several legal steps must sometimes be taken before a creditor can have an outstanding debt satisfied through the sale of a debtor's property. Which of the following may be required?

Select one of the following:

  • judgement

  • attachment

  • write of execution

  • All of the above

Explanation

Question 24 of 140

1

concerning liens, which of the following is INCORRECT?

Select one of the following:

  • Liens are always encumbrances

  • Liens are either equitable or statutory

  • Liens increase the value of property

  • liense are either specific or general

Explanation

Question 25 of 140

1

An easement created for the purpose of giving an owner ingress and egress to his/her landlocked property is:

Select one of the following:

  • an easement in gross

  • an easement by subscription

  • an easement appurtenant

  • an easement by abandonment

Explanation

Question 26 of 140

1

Jones owned 50 acres with frontage on Slater Mill Rd. Jones sold the front 30 acres to Smith but reserved an easement for the right of access to the back 20 acres. Which of the following is INCORRECT?

Select one of the following:

  • Jones has a dominate estate

  • Smith has a servient estate

  • smith's estate is subject to Jone's interest

  • Jones estate in the 20 acres is subject to Smith's interest

Explanation

Question 27 of 140

1

A private deed restriction can be made ineffective by which of the following?

Select one of the following:

  • a ground lease

  • conveyance of the property

  • voluntary cancellation by at least 2 of the affected property owners

  • a conflict with zoning laws

Explanation

Question 28 of 140

1

A provision found only in a deed which subjects the ownership of land to certain restrictions is called a:

Select one of the following:

  • condition

  • convenant

  • prescription

  • necessity

Explanation

Question 29 of 140

1

A remainder estate may exist at the same time with all but which of the following?

Select one of the following:

  • Fee Simple absolute

  • life estate

  • fee simple on a condition subsequent

  • fee simple determinable

Explanation

Question 30 of 140

1

Encroachments are usuually discovered by

Select one of the following:

  • title search

  • physical inspection

  • survey

  • recording

Explanation

Question 31 of 140

1

For 10 years Mr Jones had verbal permission to park a car in Mr Smith's Driveway. Mr Smith sold to Mr Johnson.

Select one of the following:

  • Jones had a license from Smith; Johnson may continue it or discontinue it as he chooses.

  • Jones continous use over 10 years has probably created an easement by prescription, leaving Johnson powerless to revoke Jones right to continue parking in the driveway

  • Smith's permission to Jones to use a portion of the land for a specific purpose created an easement appurtenant which runs with the land.

  • Jones use of the driveway was a personal easement in gross, which ended when Smith sold to Johnson

Explanation

Question 32 of 140

1

An encumbrance may be defined as all the following EXCEPT:

Select one of the following:

  • Anything which affects of limits the fee simple title

  • The degree, quantity, nature, and extent of interest in real property

  • Rights or interests hold by held by someone other than the fee simple owner

  • a claim, charge or liability that attaches to real property

Explanation

Question 33 of 140

1

A provision found only in a deed which subjects the ownership of land to certain restrictions is called a:

Select one of the following:

  • Covenant

  • Condition

  • prescription

  • necessity

Explanation

Question 34 of 140

1

A remainder estate may exist at the same time with all but which of the following?

Select one of the following:

  • A fee simple absolute

  • life estate

  • fee simple ona condition subsequent

  • fee simple determinable

Explanation

Question 35 of 140

1

Amy Carson owns 200 acres which are rich in oil reserves. her ownership interest is fee simple absolute. She may:

Select one of the following:

  • sell the oil rights but retain fee simple ownership in land

  • sell the land but reserve the oil rights

  • sell the oil rights to one party and all remaining rights in the land to another

  • do any of the above

Explanation

Question 36 of 140

1

Jim is an electrician who was hired by ABC construction to install all of the electrical wiring in a new home. Jim began the work on June 10 and completed the work on June 15. The closing takes place on August 20. If jim is never paid by the general contractor and wishes to file a lien, the effective date would be?

Select one of the following:

  • june 10th, against property owner

  • June 10, against property

  • june 15 against general contractor

  • August 20 against new home owner

Explanation

Question 37 of 140

1

The grantor of a life estate may retain a:

Select one of the following:

  • Reversionary estate

  • less than freehold estate

  • remainder estate

  • fee simple determinable estate

Explanation

Question 38 of 140

1

Which of the following is an estate in land?

Select one of the following:

  • easement

  • lien

  • encumbrance

  • lease

Explanation

Question 39 of 140

1

statutory liens which are also specific include:

Select one of the following:

  • judgement lien

  • mechanics lien

  • mortgage lien

  • estate tax lien

Explanation

Question 40 of 140

1

The types of leasehold estates include:

Select one of the following:

  • estates from period to period

  • estates for years

  • estates at sufferance

  • all of the above

Explanation

Question 41 of 140

1

General liens encumber all real and personal property owned by the debtor, they include:

Select one of the following:

  • Mechanics liens

  • attachment liens

  • mortgage liens

  • judgement liens

Explanation

Question 42 of 140

1

an easement may be created in any of the following ways EXCEPT:

Select one of the following:

  • Reservation

  • necessity

  • grant

  • merger

Explanation

Question 43 of 140

1

the right of enjoyment includes some rights over adjoining land including the right of

Select one of the following:

  • lateral support

  • eminent domain

  • prescription

  • possession

Explanation

Question 44 of 140

1

under police power which of the following CANNOT be done?

Select one of the following:

  • property can be condemned as unfit for occupancy

  • property can be zoned

  • property can be taken away for public purpose, provided fair compensation is given

  • subdivision regulations can be enacted

Explanation

Question 45 of 140

1

when may a salesperson legally refuse to show a house to an Asian prospect?

Select one of the following:

  • when the seller has indicated a desire not to have an Asian own the property

  • when the seller prohibits an Asian from physically coming on to the property

  • when the seller says the property is not to be shown while e the seller is out of town

  • never

Explanation

Question 46 of 140

1

a developer purchased a parcel of land 10 years ago, at which time the current zoning would have permitted the construction of 80 houses. now he is ready to build but a recent rezoning now restricts him to 40 houses. is he entitled to some compensation for the down zoning

Select one of the following:

  • yes, because it is right under eminent domain

  • yes, because the property is grandfathered.

  • no, an exercise of police power does not require compensation

  • no, because he should have improved the property when he bought it

Explanation

Question 47 of 140

1

zoning ordinances and subdivision regulations, as examples of the enactment of police power, usually cover such matters as: o

Select one of the following:

  • baselines

  • set back lines

  • deed restrictions

  • encumbrances

Explanation

Question 48 of 140

1

concerning the Federal fair housing law, which of the following is correct with respect to the definition of a minority?

Select one of the following:

  • any group of members of a group that can be identified by race, color, religion, sex, handicap, familial status or national origin

  • any group of member of a group that can be identified by any other characteristic on the basis of which discrimination is prohibited by a federal, state of local fair housing law

  • has nothing to do with numbers

  • all of the above

Explanation

Question 49 of 140

1

the county tax assessor

Select one of the following:

  • determines the assessed value of each individually owned property in the county

  • sets the book value of individual properties

  • sets the tax rate

  • collects the taxes due on all properties in the county

Explanation

Question 50 of 140

1

with the best of intentions, a salesperson advises an African American family to avoid an area where there have been incidents of bigotry. this constitutes:

Select one of the following:

  • no violation of Fair housing law if the facts stated were true

  • no violation of law since the advice was given with good intentions

  • a violation in the form of blockbusting

  • a violation in the form of steering

Explanation

Question 51 of 140

1

the lead based paint hazard reduction act requires that the buyer be provided with certain information when purchasing a residential dwelling or a residential dwelling in which a component of that dwelling was built prior to 1978. which of the following is correct regarding these disclosures?

Select one of the following:

  • the disclosure must be made prior to closing

  • the disclosure must be made prior to showing a property

  • the disclosure must be made within 30 days of signing of the contract

  • the disclosure must be made prior to entering into a contract to purchase

Explanation

Question 52 of 140

1

a prospective purchaser, who is caucasian, asks a salesperson what percentage of the families in a particular are is african American. the salesperson's best course of action would be:

Select one of the following:

  • to refuse to answer the question

  • to advise the purchaser that the question is improper

  • to refer the purchaser to an appropriate agency such as the public school administration

  • to assure the purchaser there is no reason to be concerned sine the percentage is small

Explanation

Question 53 of 140

1

he city of Longview has approved a budget of $12,500,000 which is to be funded by ad valorem tax. the assessment roll shows that all nonexempt property has a fair market value of $950,000,000. If the assessment rate is 40%, what tax rate will each property owner be required to pay?

Select one of the following:

  • .33/dollar

  • .33/100 dollars

  • 3.30/100 dollars

  • 4.40/1,000 dollars

Explanation

Question 54 of 140

1

the Mrs Murphy Exemption to the fair housing law of 1968 requires which of the following?

Select one of the following:

  • That no real estate broker is used

  • that no discriminatory advertising is used

  • that the owner rents units in a 2-4 family building or rooming house

  • all of the above

Explanation

Question 55 of 140

1

a Buyer whose number is listed in the DO Not Call Registry has called a broker requesting information on a listing. For what period of time may the broker continue to call the buyer with information on other properties in which the broker feels the buyer may have an interest?

Select one of the following:

  • never

  • within 3 months of the initial inquiry

  • within 18 months of the inquiry

  • an unlimited time unless the buyer requests no further calls from the company

Explanation

Question 56 of 140

1

Beth Stanfield inherited a lot on Central Ave. in the city of Belview. The lot is zoned for single family, detached residential use. In trying to sell the property, Beth has been unable to find a buyer because of the excessively heavy traffic on Central ave. due to its widening 2 years ago from 2 to 6 lanes. Beth has petitioned the Belview zoning board of appeals for permission to construct a duplex on the lot. her request, if granted, would constitute

Select one of the following:

  • a nonconforming use

  • a variance

  • a grand fathered property

  • spot zoning

Explanation

Question 57 of 140

1

if a house is assessed at $9,000 and an assessment is 30% of the market value, the county assessor would have judged its market value to be:

Select one of the following:

  • $27,000

  • $27,500

  • $28,000

  • $30,000

Explanation

Question 58 of 140

1

Of the following statements, which is correct with respect to zoning ordinances?

Select one of the following:

  • planning commissions and master plans generally are not concerned with aesthetic value.

  • zoning regulations supersede deed restrictions

  • Private restrictions and zoning ordinances may both be effective with respect to the same land at the same time. with private restrictions imposing additional limitations on the use.

  • zoning ordinances have retroactive application

Explanation

Question 59 of 140

1

You are licensed salesperson working with an out of town Arab client who has identified a home her wishes to see in a neighborhood that you know is predominately Jewish. you should:

Select one of the following:

  • tactfully suggest an alternative

  • show the property

  • explain that the neighbors are predominately jewish

  • refuse to show the property

Explanation

Question 60 of 140

1

which of the following practices would not violate antitrust laws?

Select one of the following:

  • Refusal of real estate boards to admit qualified members

  • any brokers going into collusion to set property prices

  • establishing a company policy for determining commissions to be charged

  • 2 of more brokers going into collision to set commission rates

Explanation

Question 61 of 140

1

A client asks a licensed salesperson to find a tenant who will lease her/her furnished home for a 4 month period. to which of the following might your refusal to rent NOT constitute a violation of Fair housing laws?

Select one of the following:

  • an asian family

  • 4 university students

  • 2 single women, with a child

  • a blind man

Explanation

Question 62 of 140

1

which of the following statements is true concerning the CAN-SPAM act?

Select one of the following:

  • the use of a misleading subject line is permissible as long as the transmission is identified as an ad.

  • the sender has 7 days to honor an opt out request

  • the act prevents the sending of commercial emails unless the sender received prior written permission

  • every commercial email must contain an opt out provision

Explanation

Question 63 of 140

1

Charlie is a laotian immigrant. He has subdivided his lot and built a new home next door to his own residence. In listing this house he asks the salesperson to look for a Loatian purchaser. Which of the following statements is true?

Select one of the following:

  • The salesperson might advertise a Laotian preferred

  • the listing isn't illegal sine Charlie has only expressed a preference not a requirement.

  • the listing salesperson should refer the listing to a Laotian salesperson

  • there listing should not be taken under these conditions.

Explanation

Question 64 of 140

1

you can sell your house without a real estate license

Select one of the following:

  • True
  • False

Explanation

Question 65 of 140

1

real estate salespersons earn commissions

Select one of the following:

  • True
  • False

Explanation

Question 66 of 140

1

you can own a real estate brokerage as a salesperson

Select one of the following:

  • True
  • False

Explanation

Question 67 of 140

1

real estate agents appraise homes

Select one of the following:

  • True
  • False

Explanation

Question 68 of 140

1

you need a special license to be a "Property manager"

Select one of the following:

  • True
  • False

Explanation

Question 69 of 140

1

You need a special license to sell "Commercial real estate"

Select one of the following:

  • True
  • False

Explanation

Question 70 of 140

1

Once licensed in Georgia, you can sell real estate in any state

Select one of the following:

  • True
  • False

Explanation

Question 71 of 140

1

To sell mobile homes, you need a real estate license

Select one of the following:

  • True
  • False

Explanation

Question 72 of 140

1

a broker can require you to come to work at specific times

Select one of the following:

  • True
  • False

Explanation

Question 73 of 140

1

real estate pre license class teaches you how to sell real estate

Select one of the following:

  • True
  • False

Explanation

Question 74 of 140

1

you can manage other peoples' real estate without a license

Select one of the following:

  • True
  • False

Explanation

Question 75 of 140

1

A seller hires a salesperson to sell their home

Select one of the following:

  • True
  • False

Explanation

Question 76 of 140

1

a buyer hires a salesperon to help them buy their home

Select one of the following:

  • True
  • False

Explanation

Question 77 of 140

1

the GA real estate commission is the governing body for real estate licensees

Select one of the following:

  • True
  • False

Explanation

Question 78 of 140

1

to sell a business, you need a real estate license

Select one of the following:

  • True
  • False

Explanation

Question 79 of 140

1

real estate takes years to develop a large income

Select one of the following:

  • True
  • False

Explanation

Question 80 of 140

1

the average first year real estate agent makes $35,000 in their first year

Select one of the following:

  • True
  • False

Explanation

Question 81 of 140

1

all of the following items are personal property EXCEPT:

Select one of the following:

  • trade fixtures

  • a privacy fence

  • patio furniture

  • portable dishwasher

Explanation

Question 82 of 140

1

a seller wishes to remove certain shrubs planted in the front yard and not include the in the sales price of the home

Select one of the following:

  • the shrubs can be removed unless they are valuable

  • the shrubs must be left and included in the sales price of the home

  • if the seller planted the shrubs they can be removed

  • the seller may do so only if permission for the removal is specifically stated in the sales contract.

Explanation

Question 83 of 140

1

a permanent addition to a building is:

Select one of the following:

  • real property

  • personal property

  • a chattel real

  • an encumbrance

Explanation

Question 84 of 140

1

the transfer of land ownership automatically includes:

Select one of the following:

  • emblements

  • fixtures

  • chattels real

  • trade fixtures

Explanation

Question 85 of 140

1

water rights along a large, navigable lake or ocean are known as:

Select one of the following:

  • tidal rights

  • shore rights

  • correlative rights

  • littoral rights

Explanation

Question 86 of 140

1

water table refers to the:

Select one of the following:

  • difference between the high and low water level of a navigable body of water

  • level at which percolating water is found below the earths surface

  • depth to which a landowner may drill in order to extract water in exercising the right of prior appropriation

  • none of the above

Explanation

Question 87 of 140

1

of the following items which is considered real property?

Select one of the following:

  • natural things movable by law

  • notes secured by mortgages on real estate

  • riparian rights

  • house plants

Explanation

Question 88 of 140

1

all of the following are appurtenances EXCEPT

Select one of the following:

  • riparian rights

  • a garage

  • an apple orchard

  • trade fixtures

Explanation

Question 89 of 140

1

real property is changed into personal property by:

Select one of the following:

  • the right of appropriation

  • severance

  • the law of capture

  • fructose naturales

Explanation

Question 90 of 140

1

which of the following would be considered an artificial monument when used in metes and bounds legal description?

Select one of the following:

  • a tree

  • a fence corner

  • a river

  • a large rock

Explanation

Question 91 of 140

1

an adequate metes and bounds description must have all of the following EXCEPT:

Select one of the following:

  • a definite point of beginning

  • four sides

  • closure

  • linear measurements and compass directions

Explanation

Question 92 of 140

1

the point of beginning on a plat of survey is marked with reference to a:

Select one of the following:

  • benchmark

  • datum

  • meridian

  • base line

Explanation

Question 93 of 140

1

if a man has 6 acres of land and deeds 3/4 of it to a son and the remainder to a nephew, how many square feet of land does the nephew acquire?

Select one of the following:

  • 261,360

  • 196,020

  • 65,340

  • 43,560

Explanation

Question 94 of 140

1

How many cubic feet of space is there in a warehouse that is 610 feed wide by 140 feet deep and has 18 foot ceilings?

Select one of the following:

  • 85,400

  • 1,537,200

  • 35

  • 2520

Explanation

Question 95 of 140

1

which of the following would be acceptable on sales contract?

Select one of the following:

  • legal description to be attached

  • legal description attached and made a part of hereof by reference

  • the legal description and survey to be provided at closing

  • purchaser to be provided with legal description within 10 days

Explanation

Question 96 of 140

1

When it is necessary to prepare a new metes and bounds description it should be done by:

Select one of the following:

  • the seller

  • a licensed surveyor

  • the listing salesperson

  • the selling salesperson

Explanation

Question 97 of 140

1

you have a prospective purchaser for a home, and the listing agent ha not been able to provide you with a legal description. which statement describes your best course of action?

Select one of the following:

  • complain to the real estate commission

  • write an offer without a legal

  • find the legal yourself at the courthouse or on the computer

  • contact the seller yourself

Explanation

Question 98 of 140

1

if the only land description you have provided on our offer is the street address

Select one of the following:

  • this could be sufficient if there is no other street by the same name

  • this contract is probably unenforceable

  • this amounts to a contingency that must be resolved

  • the contract may be legal but is unprofessional

Explanation

Question 99 of 140

1

a metes and bounds description must have all of the following EXCEPT:

Select one of the following:

  • a definite point of beginning

  • the name of the county and state

  • the approximate square footage or acreage

  • compass directions and distances from one point to the next

Explanation

Question 100 of 140

1

a metes and bounds description might be insufficient if:
1. it does not have enough sides to close
2. it is irregular in shape

Select one of the following:

  • only 1 is true

  • only 2 is true

  • both 1 and 2 are true

  • neither 1 or 2 is true

Explanation

Question 101 of 140

1

If there is no indication in the deed as to how co-owners are taking title, the law presumes the parties intended to won the property as:

Select one of the following:

  • tenants in common

  • joint tenants

  • general partners

  • severalty partners

Explanation

Question 102 of 140

1

ownership of real estate for such things as schools, roads, parks, and military installations is?

Select one of the following:

  • prescriptive ownership

  • private ownership

  • possessive ownership

  • public ownership

Explanation

Question 103 of 140

1

a condominium may be used for which of the following?

Select one of the following:

  • parking garage

  • shopping center

  • office building

  • all of the above

Explanation

Question 104 of 140

1

husband and wife who own property as tenants by the entirety:

Select one of the following:

  • must both consent to sell

  • may individually file a partition suit

  • must both sign for any debt secured by the property

  • both A&B

Explanation

Question 105 of 140

1

a tenancy in common form of ownership entitles each co tenant to:

Select one of the following:

  • the right of survivorship

  • an equal interest in the land

  • take title free and clear

  • an undivided interest in the land

Explanation

Question 106 of 140

1

Al and Sue own property as joint tenants. Under which of the following circumstances will severalty ownership NOT result?

Select one of the following:

  • Sue files a partition suit which divides the property between Al and Sue

  • Al sells his interest to Barry

  • Sue sells her interest to Al

  • Al Dies

Explanation

Question 107 of 140

1

in order to obtain a proprietary lease on a co-op unit an individual must buy a/an?

Select one of the following:

  • license

  • condominium

  • mortgage

  • share of stock

Explanation

Question 108 of 140

1

which of the following characteristics does NOT apply to tenants in common?

Select one of the following:

  • hold separate title to an undivided interest

  • must own equal shares of interest

  • may sell, will or mortgage their interest

  • are not subject to right of survivorship

Explanation

Question 109 of 140

1

corporations are not allowed to own real estate in joint tenancy because of the:

Select one of the following:

  • right to file a partition suit

  • equal rights of possession requirement for this type of ownership

  • right of survivorship

  • limited libation shared by the stockholders.

Explanation

Question 110 of 140

1

an undivided interest of the whole is owner by a:

Select one of the following:

  • tenant in common

  • joint tenant

  • tenant by the entireties

  • all of the above

Explanation

Question 111 of 140

1

in the event of death, which form of ownership permits the deceased to name an heir?

Select one of the following:

  • tenancy by the entirety

  • joint tenancy

  • ordinary life estate

  • tenancy in common

Explanation

Question 112 of 140

1

carlos would like to liquidate his 1/3 interest in a business property. His cousin, who has a 2/3 interest dow not agree to selling. Can carlos file a partition suit?

Select one of the following:

  • yes, but only if his cousin consents

  • yes, because any concurrent owners, except for a tenant by the entireties can file

  • no, because a tenant in common cannot file for a partition

  • no, because he has less than a majority interest

Explanation

Question 113 of 140

1

Al, Bill, and Rob own property as joint tenants. upon Rob's death his interest passes to:

Select one of the following:

  • his surviving heirs of those designated in his will

  • his surviving wife, or Al and Bill if she predeceased him

  • his surviving wife

  • Al and Bill

Explanation

Question 114 of 140

1

the owners of a limited liability company are called?

Select one of the following:

  • partners

  • stockholders

  • members

  • managers

Explanation

Question 115 of 140

1

which of the foliowing types of ownership cannot be created by operation of law, but must be created by the parties expressed intent?

Select one of the following:

  • community proeprty

  • tenancy in common

  • joint tenancy

  • condominium ownership

Explanation

Question 116 of 140

1

the georgia timeshare act requires all of the following EXCEPT:

Select one of the following:

  • all advertising must comply with the Fair Business Practices act

  • trust funds must be held in an escrow account

  • unless exempt by law, sales agents must be licensed

  • a 10 day right of recession from receipt of the Public offering statement

Explanation

Question 117 of 140

1

Ken and Dan buy a property as an investment. The deed names both as the new owners, but the instrument is silent as to their respective interests and says nothing about the form of ownership. Under these circumstances which of the following is INCORRECT?

Select one of the following:

  • Each owns an undivided 1/2 interest

  • a tenancy in common ownership exists

  • their interests are subject to probate

  • they now the property with the right of survivorship

Explanation

Question 118 of 140

1

the Georgia condominium act requires:

Select one of the following:

  • no right of recession for any condominium purchase

  • a 7 day right of recession for the purchase of all condominium units

  • a 7 day right of recession for the purchase of previously owned condominium units

  • a 7 day right of recession for the purchase of new condominium units only

Explanation

Question 119 of 140

1

Joint tenancy will most likely be chosen as a form of ownership by husband and wife to:

Select one of the following:

  • defeat dower and curtesy rights

  • avoid personal liability to creditors

  • assure each an undivided 1/2 interest

  • assure the surviving spouse of sole ownership without probate

Explanation

Question 120 of 140

1

both husband and wife must join in the signing in order to sell or mortgage land held as:

Select one of the following:

  • community property

  • tenants by the entireties

  • in states with dower

  • all of the above

Explanation

Question 121 of 140

1

Priority of interest in real elates usually determine by:

Select one of the following:

  • date of the document

  • date of recordation

  • actual knowledge

  • reference to statue of frauds

Explanation

Question 122 of 140

1

the covenant in which a grantor promises that the owner owns the property and has the right to convey title to it is the:

Select one of the following:

  • covenant of warranty forever

  • covenant of seizin

  • covenant of quiet enjoyment

  • covenant of further assurances

Explanation

Question 123 of 140

1

which of the following statements is INCORRECT?

Select one of the following:

  • a deed conveys a present interest in real estate

  • a will conveys no interest in real estate until after the death of the testator

  • a deed conveys a further interest in real estate if so specified by the grantee

  • a will conveys no interest in real estate until it is probated

Explanation

Question 124 of 140

1

when performing a title examination, the attorney locates the book and page number where a particular dee is recorded by looking in an alphabetical listing. the subject property is located in a county which uses an index system of recording called:

Select one of the following:

  • torrens index

  • tract index

  • alpha index

  • grantor-grantee index

Explanation

Question 125 of 140

1

title to real property is conveyed by deed when:

Select one of the following:

  • signed by the grantor

  • recorded by the grantee

  • delivered and accepted

  • signed by the grantee

Explanation

Question 126 of 140

1

if a grantor conveys title to a farm but retains a one acre tract in the northwest corner, the deed would contain

Select one of the following:

  • an exception

  • an easement

  • a reservation

  • none of the above

Explanation

Question 127 of 140

1

Carmela bought an owner's policy of th title insurance for her new home at closing that took place in June of 2000. A year later a title dispute arose that concerned a claim that the grantor's signature on a deed signed in 1991 was a forgery. Does Carmel's policy cover her?

Select one of the following:

  • yes, because this type of problem is not an exception to a typical owner's policy

  • yes, as long as Carmela has paid her annual title insurance premiums

  • no, because the title problem could not be discovered by searching recorded documents

  • no, because the problem occurred long before the policy was written

Explanation

Question 128 of 140

1

Murphy owns a 65 acre tract of land bordering the Flint River. As a result of a gradual accumulation of soil along the river bank, Murphy acquired an additional 10 feet of property. Title to the additional land was acquired through the process of:

Select one of the following:

  • Dereliction

  • Avulsion

  • Accession

  • Erosion

Explanation

Question 129 of 140

1

If a person dies intestate leaving real property as part of hes/her estate, the dependent's heirs will acquire title according to:

Select one of the following:

  • a formal will

  • the laws of descent and distribution

  • escheat

  • an administrator

Explanation

Question 130 of 140

1

a title defect might be removed by:

Select one of the following:

  • an action to quiet title

  • title insurance

  • a certificate of title

  • a partition action

Explanation

Question 131 of 140

1

the claim of a person trying to prove the title by adverse possession might be strengthened by:

Select one of the following:

  • tacking

  • paying the property taxes

  • color of title

  • all of the above

Explanation

Question 132 of 140

1

Scott sells his home to Zachary who immediately takes possession but does not record the deed. 3 days later Scott sells to Martin who records his deed. The rightful owner is

Select one of the following:

  • scott

  • zachary

  • martin

  • zachary and martin, each having an undivided 1/2 interest

Explanation

Question 133 of 140

1

an amendment or a modification to a will can be affected by:

Select one of the following:

  • a condicil

  • executing a new deed

  • initiating and witnessing the desired changes

  • making a patent

Explanation

Question 134 of 140

1

which of the following is not required for a valid and enforceable conveyance of title by deed?

Select one of the following:

  • a written document

  • habendum clause

  • legal capacity of grantor

  • granting clause

Explanation

Question 135 of 140

1

a reservation in a deed may be used to create:

Select one of the following:

  • an easement

  • quiet title action

  • a reversion estate

  • a 15 foot piece of land reserved by the grantor

Explanation

Question 136 of 140

1

Actual notice results from which of the following?

Select one of the following:

  • existence of power lines

  • knowledge learned by inspecting the public records

  • a strangers possession under an unrecorded deed

  • an unrecorded deed

Explanation

Question 137 of 140

1

a break of gap in the chain to title results if:

Select one of the following:

  • a previous grantee failed to record the deed

  • there is an existing cloud on the title

  • a title search reveals a defective legal description in a deed recorded in the public records

  • the title is encumbered

Explanation

Question 138 of 140

1

with respect to a dependent's property, the probate court has the responsibility of:

Select one of the following:

  • establishing rightful heirs

  • passing on the validity of a patent

  • appointing an executor

  • finding the testator

Explanation

Question 139 of 140

1

the purpose of an acknowledgement is to:

Select one of the following:

  • prevent recordable documents from being signed voluntarily

  • assure the grantee of a valid document

  • prevent forgery of recordable documents

  • to keep the grantee from using a fictitious name

Explanation

Question 140 of 140

1

when a corporate officer signs a deed is could also have a/an?

Select one of the following:

  • stamp

  • sticker

  • sign

  • seal

Explanation

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