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Christie's Real Estate Test

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real estate real estate Quiz on Christie's Real Estate Test, created by Christie Wallace Bergen on 09/10/2018.
Christie Wallace Bergen
Quiz by Christie Wallace Bergen, updated more than 1 year ago More Less
Patrick Bergen
Created by Patrick Bergen about 6 years ago
Christie Wallace Bergen
Copied by Christie Wallace Bergen about 6 years ago
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Resource summary

Question 1

Question
priority of interest in real estate is usually determined by:
Answer
  • date of the document
  • actual knowledge
  • date of recordation
  • reference to statute of frauds

Question 2

Question
Which of the following statements is INCORRECT?
Answer
  • 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

Question 3

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

Question 4

Question
All of the following are examples of how a contract may be discharged EXCEPT:
Answer
  • expiration of time according to the statute of limitations
  • unilateral rescission by a defrauded purchaser
  • novation
  • supervening illegality

Question 5

Question
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
Answer
  • 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

Question 6

Question
A novation can be any of the following EXCEPT:
Answer
  • 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

Question 7

Question
An executory contract is one where
Answer
  • 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.

Question 8

Question
An implied contract is one where:
Answer
  • 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.

Question 9

Question
Which of the following will normally control the contents of a deed ?
Answer
  • the listing agreement
  • the contract for sale
  • the verbal representation of seller and broker
  • a properly executed power of attorney by the seller

Question 10

Question
The Statue of Limitations refers to
Answer
  • Rights
  • time
  • terminology
  • legal description

Question 11

Question
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?
Answer
  • 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

Question 12

Question
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.
Answer
  • 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.

Question 13

Question
When there is a conflict between the wording of portions of a sales contract, which of the following takes precedence over all other wording?
Answer
  • Typewritten
  • printed
  • standard
  • handwritten

Question 14

Question
white of the following parties receives equitable title?
Answer
  • optionee
  • vendee
  • lessee
  • mortgagee

Question 15

Question
A land contract is:
Answer
  • 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

Question 16

Question
An enforceable sales contract must include all but which of the following
Answer
  • reality of consent
  • an earnest money deposit
  • be in writing
  • mutual assent

Question 17

Question
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?
Answer
  • 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

Question 18

Question
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
Answer
  • the parties reality of consent
  • the law of contracts
  • the parol evidence rule
  • the doctrine of relation back.

Question 19

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

Question 20

Question
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:
Answer
  • 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

Question 21

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

Question 22

Question
the provision in a sales contract which obligates the seller to repair a leaking basement one year after closing is called.
Answer
  • a liquidated damages clause
  • time is of the essence
  • a survival clause
  • relation back clause

Question 23

Question
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?
Answer
  • judgement
  • attachment
  • write of execution
  • All of the above

Question 24

Question
concerning liens, which of the following is INCORRECT?
Answer
  • Liens are always encumbrances
  • Liens are either equitable or statutory
  • Liens increase the value of property
  • liense are either specific or general

Question 25

Question
An easement created for the purpose of giving an owner ingress and egress to his/her landlocked property is:
Answer
  • an easement in gross
  • an easement by subscription
  • an easement appurtenant
  • an easement by abandonment

Question 26

Question
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?
Answer
  • 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

Question 27

Question
A private deed restriction can be made ineffective by which of the following?
Answer
  • a ground lease
  • conveyance of the property
  • voluntary cancellation by at least 2 of the affected property owners
  • a conflict with zoning laws

Question 28

Question
A provision found only in a deed which subjects the ownership of land to certain restrictions is called a:
Answer
  • condition
  • convenant
  • prescription
  • necessity

Question 29

Question
A remainder estate may exist at the same time with all but which of the following?
Answer
  • Fee Simple absolute
  • life estate
  • fee simple on a condition subsequent
  • fee simple determinable

Question 30

Question
Encroachments are usuually discovered by
Answer
  • title search
  • physical inspection
  • survey
  • recording

Question 31

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

Question 32

Question
An encumbrance may be defined as all the following EXCEPT:
Answer
  • 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

Question 33

Question
A provision found only in a deed which subjects the ownership of land to certain restrictions is called a:
Answer
  • Covenant
  • Condition
  • prescription
  • necessity

Question 34

Question
A remainder estate may exist at the same time with all but which of the following?
Answer
  • A fee simple absolute
  • life estate
  • fee simple ona condition subsequent
  • fee simple determinable

Question 35

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

Question 36

Question
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?
Answer
  • june 10th, against property owner
  • June 10, against property
  • june 15 against general contractor
  • August 20 against new home owner

Question 37

Question
The grantor of a life estate may retain a:
Answer
  • Reversionary estate
  • less than freehold estate
  • remainder estate
  • fee simple determinable estate

Question 38

Question
Which of the following is an estate in land?
Answer
  • easement
  • lien
  • encumbrance
  • lease

Question 39

Question
statutory liens which are also specific include:
Answer
  • judgement lien
  • mechanics lien
  • mortgage lien
  • estate tax lien

Question 40

Question
The types of leasehold estates include:
Answer
  • estates from period to period
  • estates for years
  • estates at sufferance
  • all of the above

Question 41

Question
General liens encumber all real and personal property owned by the debtor, they include:
Answer
  • Mechanics liens
  • attachment liens
  • mortgage liens
  • judgement liens

Question 42

Question
an easement may be created in any of the following ways EXCEPT:
Answer
  • Reservation
  • necessity
  • grant
  • merger

Question 43

Question
the right of enjoyment includes some rights over adjoining land including the right of
Answer
  • lateral support
  • eminent domain
  • prescription
  • possession

Question 44

Question
under police power which of the following CANNOT be done?
Answer
  • 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

Question 45

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

Question 46

Question
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
Answer
  • 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

Question 47

Question
zoning ordinances and subdivision regulations, as examples of the enactment of police power, usually cover such matters as: o
Answer
  • baselines
  • set back lines
  • deed restrictions
  • encumbrances

Question 48

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

Question 49

Question
the county tax assessor
Answer
  • 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

Question 50

Question
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:
Answer
  • 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

Question 51

Question
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?
Answer
  • 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

Question 52

Question
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:
Answer
  • 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

Question 53

Question
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?
Answer
  • .33/dollar
  • .33/100 dollars
  • 3.30/100 dollars
  • 4.40/1,000 dollars

Question 54

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

Question 55

Question
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?
Answer
  • 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

Question 56

Question
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
Answer
  • a nonconforming use
  • a variance
  • a grand fathered property
  • spot zoning

Question 57

Question
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:
Answer
  • $27,000
  • $27,500
  • $28,000
  • $30,000

Question 58

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

Question 59

Question
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:
Answer
  • tactfully suggest an alternative
  • show the property
  • explain that the neighbors are predominately jewish
  • refuse to show the property

Question 60

Question
which of the following practices would not violate antitrust laws?
Answer
  • 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

Question 61

Question
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?
Answer
  • an asian family
  • 4 university students
  • 2 single women, with a child
  • a blind man

Question 62

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

Question 63

Question
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?
Answer
  • 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.

Question 64

Question
you can sell your house without a real estate license
Answer
  • True
  • False

Question 65

Question
real estate salespersons earn commissions
Answer
  • True
  • False

Question 66

Question
you can own a real estate brokerage as a salesperson
Answer
  • True
  • False

Question 67

Question
real estate agents appraise homes
Answer
  • True
  • False

Question 68

Question
you need a special license to be a "Property manager"
Answer
  • True
  • False

Question 69

Question
You need a special license to sell "Commercial real estate"
Answer
  • True
  • False

Question 70

Question
Once licensed in Georgia, you can sell real estate in any state
Answer
  • True
  • False

Question 71

Question
To sell mobile homes, you need a real estate license
Answer
  • True
  • False

Question 72

Question
a broker can require you to come to work at specific times
Answer
  • True
  • False

Question 73

Question
real estate pre license class teaches you how to sell real estate
Answer
  • True
  • False

Question 74

Question
you can manage other peoples' real estate without a license
Answer
  • True
  • False

Question 75

Question
A seller hires a salesperson to sell their home
Answer
  • True
  • False

Question 76

Question
a buyer hires a salesperon to help them buy their home
Answer
  • True
  • False

Question 77

Question
the GA real estate commission is the governing body for real estate licensees
Answer
  • True
  • False

Question 78

Question
to sell a business, you need a real estate license
Answer
  • True
  • False

Question 79

Question
real estate takes years to develop a large income
Answer
  • True
  • False

Question 80

Question
the average first year real estate agent makes $35,000 in their first year
Answer
  • True
  • False

Question 81

Question
all of the following items are personal property EXCEPT:
Answer
  • trade fixtures
  • a privacy fence
  • patio furniture
  • portable dishwasher

Question 82

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

Question 83

Question
a permanent addition to a building is:
Answer
  • real property
  • personal property
  • a chattel real
  • an encumbrance

Question 84

Question
the transfer of land ownership automatically includes:
Answer
  • emblements
  • fixtures
  • chattels real
  • trade fixtures

Question 85

Question
water rights along a large, navigable lake or ocean are known as:
Answer
  • tidal rights
  • shore rights
  • correlative rights
  • littoral rights

Question 86

Question
water table refers to the:
Answer
  • 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

Question 87

Question
of the following items which is considered real property?
Answer
  • natural things movable by law
  • notes secured by mortgages on real estate
  • riparian rights
  • house plants

Question 88

Question
all of the following are appurtenances EXCEPT
Answer
  • riparian rights
  • a garage
  • an apple orchard
  • trade fixtures

Question 89

Question
real property is changed into personal property by:
Answer
  • the right of appropriation
  • severance
  • the law of capture
  • fructose naturales

Question 90

Question
which of the following would be considered an artificial monument when used in metes and bounds legal description?
Answer
  • a tree
  • a fence corner
  • a river
  • a large rock

Question 91

Question
an adequate metes and bounds description must have all of the following EXCEPT:
Answer
  • a definite point of beginning
  • four sides
  • closure
  • linear measurements and compass directions

Question 92

Question
the point of beginning on a plat of survey is marked with reference to a:
Answer
  • benchmark
  • datum
  • meridian
  • base line

Question 93

Question
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?
Answer
  • 261,360
  • 196,020
  • 65,340
  • 43,560

Question 94

Question
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?
Answer
  • 85,400
  • 1,537,200
  • 35
  • 2520

Question 95

Question
which of the following would be acceptable on sales contract?
Answer
  • 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

Question 96

Question
When it is necessary to prepare a new metes and bounds description it should be done by:
Answer
  • the seller
  • a licensed surveyor
  • the listing salesperson
  • the selling salesperson

Question 97

Question
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?
Answer
  • 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

Question 98

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

Question 99

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

Question 100

Question
a metes and bounds description might be insufficient if: 1. it does not have enough sides to close 2. it is irregular in shape
Answer
  • only 1 is true
  • only 2 is true
  • both 1 and 2 are true
  • neither 1 or 2 is true

Question 101

Question
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:
Answer
  • tenants in common
  • joint tenants
  • general partners
  • severalty partners

Question 102

Question
ownership of real estate for such things as schools, roads, parks, and military installations is?
Answer
  • prescriptive ownership
  • private ownership
  • possessive ownership
  • public ownership

Question 103

Question
a condominium may be used for which of the following?
Answer
  • parking garage
  • shopping center
  • office building
  • all of the above

Question 104

Question
husband and wife who own property as tenants by the entirety:
Answer
  • must both consent to sell
  • may individually file a partition suit
  • must both sign for any debt secured by the property
  • both A&B

Question 105

Question
a tenancy in common form of ownership entitles each co tenant to:
Answer
  • the right of survivorship
  • an equal interest in the land
  • take title free and clear
  • an undivided interest in the land

Question 106

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

Question 107

Question
in order to obtain a proprietary lease on a co-op unit an individual must buy a/an?
Answer
  • license
  • condominium
  • mortgage
  • share of stock

Question 108

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

Question 109

Question
corporations are not allowed to own real estate in joint tenancy because of the:
Answer
  • 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.

Question 110

Question
an undivided interest of the whole is owner by a:
Answer
  • tenant in common
  • joint tenant
  • tenant by the entireties
  • all of the above

Question 111

Question
in the event of death, which form of ownership permits the deceased to name an heir?
Answer
  • tenancy by the entirety
  • joint tenancy
  • ordinary life estate
  • tenancy in common

Question 112

Question
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?
Answer
  • 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

Question 113

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

Question 114

Question
the owners of a limited liability company are called?
Answer
  • partners
  • stockholders
  • members
  • managers

Question 115

Question
which of the foliowing types of ownership cannot be created by operation of law, but must be created by the parties expressed intent?
Answer
  • community proeprty
  • tenancy in common
  • joint tenancy
  • condominium ownership

Question 116

Question
the georgia timeshare act requires all of the following EXCEPT:
Answer
  • 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

Question 117

Question
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?
Answer
  • 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

Question 118

Question
the Georgia condominium act requires:
Answer
  • 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

Question 119

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

Question 120

Question
both husband and wife must join in the signing in order to sell or mortgage land held as:
Answer
  • community property
  • tenants by the entireties
  • in states with dower
  • all of the above

Question 121

Question
Priority of interest in real elates usually determine by:
Answer
  • date of the document
  • date of recordation
  • actual knowledge
  • reference to statue of frauds

Question 122

Question
the covenant in which a grantor promises that the owner owns the property and has the right to convey title to it is the:
Answer
  • covenant of warranty forever
  • covenant of seizin
  • covenant of quiet enjoyment
  • covenant of further assurances

Question 123

Question
which of the following statements is INCORRECT?
Answer
  • 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

Question 124

Question
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:
Answer
  • torrens index
  • tract index
  • alpha index
  • grantor-grantee index

Question 125

Question
title to real property is conveyed by deed when:
Answer
  • signed by the grantor
  • recorded by the grantee
  • delivered and accepted
  • signed by the grantee

Question 126

Question
if a grantor conveys title to a farm but retains a one acre tract in the northwest corner, the deed would contain
Answer
  • an exception
  • an easement
  • a reservation
  • none of the above

Question 127

Question
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?
Answer
  • 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

Question 128

Question
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:
Answer
  • Dereliction
  • Avulsion
  • Accession
  • Erosion

Question 129

Question
If a person dies intestate leaving real property as part of hes/her estate, the dependent's heirs will acquire title according to:
Answer
  • a formal will
  • the laws of descent and distribution
  • escheat
  • an administrator

Question 130

Question
a title defect might be removed by:
Answer
  • an action to quiet title
  • title insurance
  • a certificate of title
  • a partition action

Question 131

Question
the claim of a person trying to prove the title by adverse possession might be strengthened by:
Answer
  • tacking
  • paying the property taxes
  • color of title
  • all of the above

Question 132

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

Question 133

Question
an amendment or a modification to a will can be affected by:
Answer
  • a condicil
  • executing a new deed
  • initiating and witnessing the desired changes
  • making a patent

Question 134

Question
which of the following is not required for a valid and enforceable conveyance of title by deed?
Answer
  • a written document
  • habendum clause
  • legal capacity of grantor
  • granting clause

Question 135

Question
a reservation in a deed may be used to create:
Answer
  • an easement
  • quiet title action
  • a reversion estate
  • a 15 foot piece of land reserved by the grantor

Question 136

Question
Actual notice results from which of the following?
Answer
  • existence of power lines
  • knowledge learned by inspecting the public records
  • a strangers possession under an unrecorded deed
  • an unrecorded deed

Question 137

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

Question 138

Question
with respect to a dependent's property, the probate court has the responsibility of:
Answer
  • establishing rightful heirs
  • passing on the validity of a patent
  • appointing an executor
  • finding the testator

Question 139

Question
the purpose of an acknowledgement is to:
Answer
  • 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

Question 140

Question
when a corporate officer signs a deed is could also have a/an?
Answer
  • stamp
  • sticker
  • sign
  • seal
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