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Misrepresentation requires proof of intent.
A street address is a legally sufficient description.
An option has the same rights and legal effect as earnest money.
The YSP need not be disclosed unless the borrower wishes to shop around on the
mortgage terms.
In a dual agency, the real estate agent cannot breach his or her fiduciary duty to either
seller or buyer.
Title insurance will still cover a non'‘bona fide purchasers buyer.
That both spouses had their own legal counsel is a key to having a prenuptial agreement
be found to be valid.
'Christians only" in an ad for an apartment would violate the Fair Housing Act.
A decedent who has died intestate has died with a will.
A valid escrow requires an underlying purchase contract.
Most states continue to use the common law doctrine of advancements.
A quitclaim deed does not serve to transfer title.
Tenancies in common must satisfy the four unities of time, title, interest and possession.
The EPA has a duty to address global warming issues.
Which of the following is not furnished by the seller?
a. Keys
b. Tenant list and leases
c. Loan commitment
d. Pest inspection report
e. All of the above are furnished by the seller
PDR contracts are
a. Unconstitutional development rights assignments
b. Enforceable promises by farmers to maintain their properties as farmland
c. Easements granted by farmers to permit some development on their farmlands
d. Available for developers when farmers refuse to sell their farmland
What is the difference between a fixture and a trade fixture?
a. There is no difference; both are fixtures
b. The owner is taxed on fixtures but no trade fixtures
c. A trade fixture is personal property
d. A trade fixture is real property
Who is responsible for compliance with the Americans With Disabilities Act in
commercial properties?
a. Landlord
b. Tenant
c. Local housing authorities
d. a and b
e. a, b and c
Midwest Utilities, Inc., wishes to construct a power plant near Des Moines. Its proposed
coal-fired plant will have emissions. How does Midwest obtain an emissions permit?
a. Apply to the EPA
b. No new power plants can be constructed after the 1990 Clean Air Act was passed
c. Purchase emission rights from others
d. Get a exception to bubble emissions limits
Plat maps
a. Are recorded in land records
b. Are invalid descriptions unless included in a government survey
c. Are valid with a street address
d. Are invalid forms of descriptions
Which future interest accompanies the creation of a life estate?
a. The possibility of reverter
b. Right of entry/power of termination
c. DOWT
d. Remainder
A zoning restriction
a. Can constitute a taking
b. Is never a taking if there is a legitimate public purpose
c. Cannot be an age restriction
d. None of the above
In the Anna Nicole Smith will contest, what was the basis for Ms. Smith's recovery of
millions following a trial?
a. She was able to show that her deceased husband lacked capacity to execute a will and
she, as a surviving spouse, was entitled to her community property share
b. Tortious interference with expectation of inheritance
c. That she had engaged in undue influence
d. That there were no surviving heirs
The Doctrine of Ancient Lights
a. Exists in England
b. Exists in the United States
c. Was adopted by statute in most states
d. None of the above
Zack Peyton borrowed $398,000 from Fifth First Bank to purchase a new home. Zack
gave First Bank a mortgage on his home. The mortgage was recorded on January 3,
2004. Zack had made a down payment of $42,000. When Zack moved in, he purchased
an in-ground swimming pool from Paddock Pools for $35,000. Zack paid Paddock
$4,000 and Paddock financed the remaining amount for him, recording a mortgage for
$29,000 on February 26, 2004. Zack needed window coverings, landscape, and some
new furniture. Wells Fargo gave Zack a $150,000 home equity line of credit, secured by
a mortgage on Zack's home for $150,000. Wells Fargo recorded the home equity credit
line mortgage on February 1, 2004. Zack, because of a bonus at work, did not draw on
the line of credit until June 10, 2005, using $25,000.
The economy went south somewhere around September 2008. The value of Zack's
home dropped by almost 50%. Zack lost his job. He could no longer make his
payments. Fifth First Bank served Zack with a notice of foreclosure on November 1,
2008.
Suppose that Tommy Tonita purchased the Zack home at a foreclosure sale. Tommy
paid the $220,000. What type of document would Tommy receive at the foreclosure
sale?
a. A warranty deed
b. A special warranty deed
c. A sheriff's deed
d. A bargain and sale deed
Which of the following is not required to establish an easement by implication?
a. Prior use during unity of ownership
b. Absolute necessity
c. Reasonable necessity
d. All of the above are required
A title insurance policy
a. Protects against title issues developing after the policy is issued
b. Protects against a recorded easement overlooked in a title search
c. Provides no protection for prescriptive easements
d. Protects against zoning issues
'To A so long as she does not allow the construction of wind turbines on the property,'' is
an example of
a. A fee simple determinable
b. A fee simple subject to a condition precedent
c. An executor interest
d. A fee tail
e. None of the above
12 C.F.R. Section 226 is an example of
a. Federal administrative regulation
b. Federal legislative enactment
c. State regulation
d. None of the above
Rob and Cher Morgan own a single-story home in a subdivision in Chevy Chase,
Maryland. Their neighbors who live behind them have nearly completed a renovation
and remodeling project of their home whereby they will be adding a second story and
attic space. The result is that the Morgans' backyard is under shade most of the day.
Also, the Morgans feel their privacy is breached because, from the second story, all of
the Morgans' backyard and windows are visible.
a. The Morgans have a right to light and could obtain an injunction against the second
story
b. The construction and renovation are a trespass to the Morgans' light
c. Absent any state statute, the Morgans have no rights to stop the renovation and
remodeling
d. The neighbors' renovation is a nuisance for its interference with the Morgans' use and
enjoyment of their property
Nicholas Sharp and Barry and Rhonda Downey own adjacent tracts of land in Howard
County, Maryland. Their two adjacent lots were a single tract of land owned by Jack
Ryan, Inc., the corporate alter ego of John E. Ryan. On February 20, 1996, Ryan
divided the tract by deed, creating Lot 1 and Lot 2. Ryan then conveyed Lot 1 to Pamela
Jekel. On the same date as the conveyance of Lot 1, Ryan and Jekel executed an
easement instrument which gave Ryan access to his Lot 2 over the existing Jeep trail
located on Lot 1. Jack Ryan ended up married to Pamela Jekel and conveyed his lot to
Nicholas Sharp. Pamela Jekel Ryan conveyed her lot to Barry and Rhonda Downey.
Once the Ryans married, what happened to the easement?
a. It was terminated because of unity of ownership
b. There was no need for an easement so no rights passed with either tract
c. The easement rights continued
What happens when homeowners owe more to subcontractors than the total price they
were to pay the general contractor because the general contractor has not paid the
subcontractors and the general contractor is no longer solvent?
a. Homeowners are always exempt from paying more than they owed the general
contractor
b. The homeowners must pay the full amount due to all subcontractors
c. The homeowners cannot be liened by the subcontractors
d. Courts and states have differing standards of equity applied in resolving these issues
Zack Peyton borrowed $398,000 from Fifth First Bank to purchase a new home. Zack
gave First Bank a mortgage on his home. The mortgage was recorded on January 3,
2004. Zack had made a down payment of $42,000. When Zack moved in, he purchased
an in-ground swimming pool from Paddock Pools for $35,000. Zack paid Paddock
$4,000 and Paddock financed the remaining amount for him, recording a mortgage for
$29,000 on February 26, 2004. Zack needed window coverings, landscape, and some
new furniture. Wells Fargo gave Zack a $150,000 home equity line of credit, secured by
a mortgage on Zack's home for $150,000. Wells Fargo recorded the home equity credit
line mortgage on February 1, 2004. Zack, because of a bonus at work, did not draw on
the line of credit until June 10, 2005, using $25,000.
The economy went south somewhere around September 2008. The value of Zack's
home dropped by almost 50%. Zack lost his job. He could no longer make his
payments. Fifth First Bank served Zack with a notice of foreclosure on November 1,
2008.
Three months after Tommy bought Zack's house at the foreclosure sale Zack is able to
find a job and received a signing bonus of $575,000. Zack wants his house back.
a. Because the sale has occurred and the transfer been made, Zack has no further rights
in the property
b. Zack can purchase the house from Tommy if he pays Tommy the sale price plus all
the foreclosure expenses
c. Zack can get his house back if he pays Fifth First, Paddock, and Wells Fargo the
amounts due, plus interest, plus expenses
d. Zack can get his house back if he pays the principal amounts due on all three loans
The description, 'All my land except the spring house'
a. Is a valid legal description
b. Is a plat map description
c. Is a metes and bounds description
d. Is invalid
Landlords can provide for the retention of a security deposit as damages for a breach.
Explain impact fees.
An Article IX security interest requires a written agreement for fixtures.
Discuss the lienor's position in doing work for lessees, trustees and executors.
Smith has seen Jones' dog in his (Smith's) yard each morning. The dog leaves behind
irritating matter. Smith wishes to know his rights.
Rescission of a contract is available when there has been misrepresentation.
The Endangered Species Act applies to construction projects.
A fee tail (at common law) is inheritable only by lineal descendants.
An easement by express grant gives the grantee a right.
Trade fixtures in commercial leases generally stay with the tenant and not the landlord's
property.
