In all states, attorneys acting for clients in selling real estate must have licenses.
Due process requires that a taxpayer not be required to pay tax until after they’ve had an
opportunity to object.
If you move next to a nuisance, you are not entitled to any remedies for damages caused
by the nuisance.
A tenant always has the right to give lien rights to a contractor who performs work on
the real property.
A broker need not disclose statutorily protected information if asked directly by the
buyer.
Electronic (fax) forms of contracts are valid.
A party receiving an interest in land from a joint tenant becomes a tenant in common
with the remaining joint tenants.
A co’‘op interest cannot be mortgaged or pledged.
An option need not be in writing to be valid.
Mortgage brokers’ compensation was based on the number of loans as well as the
amount of those loans and the interest rate obtained for them.
In a race-notice jurisdiction, the first bona fide purchaser to record takes title.
The Government Mortgage Package is opposed by both industry and consumer groups.
Which of the following land interests is not inheritable?
a. Life estate
b. Fee simple absolute
c. Fee tail
d. None of the above
The implied duty of operation
a. Requires a landlord to lease all spaces before a tenant is required to pay rent on net
profit clauses
b. Does not apply in shopping malls
c. Requires a tenant to open leased space for business
d. Violates federal antitrust laws
Which of the following is not a limitation on the rule of capture?
a. Unitization
b. Doctrine of correlative rights
c. Enhanced recovery operations
d. Sweeping
e. All of the above are limitations on the rule of capture
Hal Divelbiss owned a corner lot located next to an elementary school. Children from
the neighborhood cut across the lot diagonally as they were walking to school. The
children did so with such frequency that there was a visible path across Hal’s property.
The children had been using the path since the school opened in 1971. On December 1,
2000, Hal placed a fence around the perimeter of the lot and the children could no
longer use their well-established short cut. The school and the children
a. Have acquired an easement by prescription
b. Have acquired an easement by necessity
c. Have an irrevocable license
d. Have no rights to the path
Which of the following will not serve to revoke a will?
a. Burning
b. Writing “void” across all pages
c. Execution of a new will
d. All of the above serve to revoke a will
With reference to #13, what is the maximum security deposit the landlord could collect
from Alex under the URLTA?
a. $600
b. $300
c. $900
d. None of the above
Suppose that the foreclosure sale brings $110,000, how much will each party receive?
Contractor
a. $0
b. $2,000
c. $4,000
d. $6,000
e. $8,000
f. $92,000
Day 1 ‘“ O conveys to A (bfp)
Day 2 ‘“ O conveys to B
Day 3 ‘“ O conveys to C (bfp)
Day 4 ‘“ B records
Day 5 ‘“ A records
Day 6 ‘“ C records
Under a race statute, who has title?
a. A
b. B
c. C
Which of the following is not an example of a condition precedent?
a. Buyer of a house retaining employment
b. Buyer of a house obtaining financing
c. Buyer requiring an environmental assessment of the property
d. All of these are examples of conditions precedent
Solar easements
a. Are illegal in most states
b. Provide the easement holder with a right to light
c. Exist because the U.S. follows the doctrine of ancient lights
d. Both b and c
e. None of the above
The Yield Spread Premium (YSP) is
a. The difference between the lowest mortgage rate the borrower qualifies for and the
rate the mortgage broker is able to obtain
b. The difference between the interest rate and the APR
c. The total amount for closing given in the GFE vs. the actual closing costs
d. The discount rate for FHA loans
Jason Whitesides passed away with a will that awarded his estate to his children or
grandchildren if his children predecease him. The will directs a per stirpes distribution.
Jason has three children, Joan, John and James. However, James died one year before
Jason. James is survived by two children, Jack and Jane. How is the estate to be
distributed?
a. Joan ‘“ 1/3, John ‘“ 1/3, Jack ‘“ 1/6, Jane 1/6
b. Joan ‘“ 1/4, John ‘“ 1/4, Jack ‘“ 1/4, Janet ‘“ 1/4
c. Joan and John ‘“ 1/2 each
d. None of the above
With respect to question #7, how much interest did A and B hold initially?
a. Proportionate according to the amount of their payment
b. One’‘half each
c. Impossible to determine from the information given
d. None of the above
An apartment complex has placed an ad in the newspaper that includes the following,
‘No families with more than 3 children under the age of 10.’ Which of the following is
correct with regard to the ad?
a. Since it is private property, the age restriction is fine
b. The age restriction is fine as long as there is housing in the area for families with
children
c. The age restriction is a violation of the Fair Housing Act
d. The age restriction is reasonable and valid
Which of the following is NOT a test courts use in determining whether action taken by
an homeowners’ association is valid?
a. The reasonableness test
b. The business judgment test
c. The contracts test
d. The timing test
The Armstrongs owned a beach front lot on the Outer Banks in North Carolina. The
Armstrongs wished to construct a deck on the second story of their home. When they
applied for a permit for the construction, the town denied their application unless the
Armstrongs were willing to allow a path from the road through their property to the
beach. Which of the following best describes the Armstrongs’ rights?
a. The town has control over the permit process and land use and can require the
easement
b. The town can require the easement as long as it does not charge for the permit
c. The town is never permitted to take an easement on private property
d. The town cannot have the easement without compensation or deny the permit without
cause
With regard to #27, what portion of Ella’s estate would each of the three children of
Terry inherit?
a. 1/5
b. 1/6
c. 1/4
d. 1/9
Under the ILSFDA, pending litigation involving developers is revealed in
a. The property report
b. The statement of record
c. Need not be revealed
d. None of the above
The Americans with Disabilities Act applies to
a. Banks
b. Shopping centers
c. Medical offices
d. a, b, and c
e. None of the above
To recover on a nuisance theory
a. A landowner must establish physical entry of some tangible item
b. A landowner must establish the conduct was intentional
c. A landowner must establish damage
d. None of the above
Which of the following would be appointed to act in an intestate probate?
a. Executor
b. Administrator
c. Personal representative
d. Either a or c
e. Either b or c
Repair and deduct is a tenant’s self’‘help method under the URLTA.
Determine whether the items would be fixtures or personal property.
A refrigerator purchased by a homeowner for installation and use in her mortgaged
home
a. Fixture
b. Personal property
The power of sale is
a. A method of judicial foreclosure
b. A method of nonjudicial foreclosure
c. An accelerated method of judicial foreclosure
d. None of the above
Suppose in #13 above, X provided for per stirpes distribution. How would the estate be
distributed?
a. A and B get 1/3 each and D and E get 1/6 each
b. A, B, D, and E get 1/4
c. A and B get 1/2
d. None of the above
Trevor Hammell wishes to form a real estate syndication for the purpose of buying and
developing a parcel of land located near the announced location of a multi’‘regional
shopping mall. Trevor has in mind that he will sell limited partnership interests in the
firm to people in Arizona (where the mall is located) and in several other nearby states.
Trevor is curious about the nature and types of laws that will affect his proposed
project. Provide him with a list of relevant laws.
The type of party who is seeking classification of a fixture as opposed to personal
property is an irrelevant factor in that classification.
Gatlin, Inc. is a dry wall (sheetrock) firm that has submitted a bid to Kalil Homes to do
the dry wall work on the new Kalil subdivision of 280 homes. Kalil accepts Gatlin’s bid
and after 10 homes are completed substantially changes the specs on the homes. Gatlin
needs to charge more money in order to still earn a profit. Kalil maintains Gatlin is
bound by the original contract price. Who is correct?
“Beginning of construction” is defined as when the first work is done or the first
equipment is placed on the property.
The Internal Revenue Code is a federal statute.
Most states are community property states.
Discuss the various steps and processes involved in probate.
Emblements are naturally growing vegetation.