ISBN 13: 978-1133586555

The Prior Appropriation Theory requires the rights of all appropriators to be equal. SIPs are state plans for implementation of air quality standards. Answer: T A broker/agent has a duty to provide legal advice to clients. Answer: F Federal lands […]

An agency relationship exists between brokers and sellers. Zoning limiting adult bookstores to certain areas is unconstitutional. Answer: F A recipient of a counteroffer must accept the counteroffer upon receipt if they made the original offer. Answer: F Parol evidence […]

The 1963 Clean Air Act was largely ignored. Townships are numbered according to their distance from guide meridians. Answer: F The Fair Housing Act applies to ads for the sale or lease of property. Answer: T Title insurance affords coverage […]

A lessee can never have a mechanics’ lien validly imposed upon the lessor’s property. Appraisals now require a physical visit to the property. Answer: T Rent controls are generally in place for housing that qualifies for low-income housing credits. Answer: […]

For the best protection for property rights, domestic partners should register their partnerships in states that recognize such relationships. In the deed of trust financing arrangement, the land owner is the trustee. Answer: F Oil and gas rights are always […]

The effect of filing a financing statement in the incorrect filing office is losing perfection on the security interest. Two black professors and their families (who had recently transferred to a university in a small town) sought to purchase homes […]

A public utility easement is an easement appurtenant. The Uniform Status of Children of Assisted Conception Act deals with the rights of posthumous heirs. Answer: T When a remainder is given to the heirs of a then’‘living person, the remainder […]

Freehold means that an interest in land is inheritable. Offer your best advice for handling change orders during construction. Answer: Have them in writing, no oral change orders. Copy all parties up and down the construction change. Put provisions in […]

The Judsons deeded their property to the Synders, using a deed with a description that a court has determined to be legally inadequate. The Snyders, using the same description, deeded the property to the Crismons. The Crismons lived on the […]

“To A for the life of B” creates a life estate in B. A vested remainder subject to partial divestment exists when a remainder is given to a group which can expand in size. Answer: T A landlord can be […]

Reed Watkins made and executed a valid will in which he left all of his property to his son and daughter. They failed to visit him or call. When Reed’s neighbor was visiting one day, Reed got the will out […]

First Lincoln holds a deed of trust on Ellen Tracy’s home (amount secured = $175,000). Ellen has defaulted on her payments. Describe the steps First Lincoln must take to sell the property. Secured and perfected creditors who finance home improvements […]

To deliver marketable title, the seller must deliver property to the buyer that is free from mortgages and other liens. Master-planned communities have experienced more blight from foreclosure than other types of developments. Answer: T The superfund is available to […]

Aesthetic zoning is unconstitutional. Under the RULPA, limited partners cannot be employed by the partnership and still enjoy limited liability. Answer: F The ADA does not apply to buildings built prior to 1988 that are not accessible to the disabled. […]

The broker has no duty or liability to the buyer/offeror in a transaction. The delivery of marketable title is a condition precedent to performance of a contract for the sale of land. Answer: T A PMSI in fixtures recorded before […]

Misrepresentation requires proof of intent. A street address is a legally sufficient description. Answer: F An option has the same rights and legal effect as earnest money. Answer: F The YSP need not be disclosed unless the borrower wishes to […]

The note or debt instrument should be referenced in the mortgage. Brokers are only required to disclose direct profits they might make from an offer to the seller. Answer: F Water running from one landowner’s property to another causing flooding […]

A plat map shows the dimensions of lots. A son’s murder of his testator father disqualifies the children of the murderer/son from inheriting. Answer: F If an individual does not have an advance directive on life support, then life support […]