Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
The purchase contract must be recorded in order to be valid.
Impact fees are unconstitutional.
An 'as is' clause does not provide blanket immunity for a broker.
Condominium owners have no ownership rights in the common areas.
Passive activity losses are not deductible from other income sources.
Undue influence can serve to set aside a conveyance by deed.
Certain zoning restrictions can constitute a taking.
The title to riverbeds is governed by either the Riparian Theory or Prior Appropriation
Doctrine.
Solar easements provide protection from obstruction of light and sunlight.
An option can be revoked any time prior to acceptance.
A conveyance by one joint tenant to a third party severs the joint tenancy.
The U.S. Supreme Court has refused to recognize a de minimis exception to CERCLA
liability.
The Interstate Land Sales Full Disclosure Act applies to all subdivision developments.
Escrow instructions need not be in writing to be enforceable.
In a cost'‘plus price formula, overhead is not included.
A plat map must be recorded.
Lenders have no liability for canceling a loan commitment.
Which of the following is not true under the URLTA?
a. The self'‘help section permits repair and deduct
b. Security deposits are non-refundable
c. Landlord access is limited
d. All of the above are true under the URLTA
Racial covenants
a. Are unconstitutional
b. Are still valid in some states
c. Are invalid unless they existed before 1964
d. None of the above
Which of the following is not a solution for a tenant with uninhabitable premises?
a. Repair and deduct
b. Tort recovery
c. Nonpayment of rent
d. Criminal action against landlord
What happens if a buyer purchases property without conducting environmental due
diligence?
a. The buyer becomes jointly and severally liable for clean-up
b. The buyer takes free and clear of any environmental liability because not knowing
about the issues excuses the buyer from liability
c. The buyer becomes solely liable for the clean-up of the property
d. The buyer can recover from the Superfund for any cost of clean-up
Steve, Rob, and Charley own a building as joint tenants with the right of survivorship.
Steve conveyed his interest in the building to Mary by executing and delivering a deed
to Mary. Rob and Charley did not know about the transfer and did not consent to it. Rob
and Charley then died. After their deaths, what would Mary's interest in the building
be?
a. A 1/3 interest as a tenant in common
b. A 1/3 interest as a joint tenant
c. Total ownership due to the deaths of Rob and Charley
d. No interest because Rob and Charley did not consent to the transfer
Higbee Corporation and Kennedy both claimed title to a narrow strip of property
located in Bethel Park, Allegheny County, Pennsylvania. Higbee filed suit to quiet title.
The original grant on the property to Kennedy provided as follows:
To have and to hold the said piece of land above-described the hereditaments and
premises hereby granted or mentioned and intended so to be with the appurtenance
unto the said party of the second part his heirs and assigns to and for the only proper
use and behoove of the said party of the second part his heirs and assigns forever
provided the party of the second part his heirs and assigns wishes to make use of it for
the purpose of a road. THE PARTY OF THE SECOND PART AGREES TO KEEP A
GOOD FENSE AROUND THE ABOVE-MENTIONED LOT, FAILING TO DO SO
FORFEITS HIS CLAIM, whenever the party of the second part wishes to give up his
claim to said lot he is to have full privilege to remove all fencing materials whenever
the party of the second part his heirs and assigns fails to fulfill this agreement the land
is to revert to the party of the first part.
What type of land interests were created?
If you were forming a partnership with a fellow real estate broker to develop a tract of
land, to which source of law would you turn for the law on forming a partnership?
a. Local ordinances
b. Code of Federal Regulations
c. State laws
d. State constitution
Which of the following federal acts does not permit private citizen suits?
a. Resource Conservation and Recovery Act
b. Clean Air Act
c. Clean Water Act
d. All of the above permit private suits
Adverse possession
a. Occurs when someone pays the property taxes for the adverse possession period
b. Can occur even when a license for use is given
c. Is illegal in most states
d. None of the above
Baker Corporation sent a letter to Sampson Company in which Baker offered to
purchase 10 acres of certain real estate from Sampson for $4,000. Sampson responded
that it would sell eight of these acres for that price. Baker and Sampson have created
a. A contract for the sale of 8 acres for $4,000
b. A contract for the sale of 10 acres for $4,000
c. A contract to sell 8 acres for $3,200
d. No contract in this connection
Day 1 0 → A
Day 2 0 → B (bfp)
Day 3 B records
Day 4 A records
In a race/notice state, who would take title to the property?
a. A
b. B
The Zuni Indians, as part of their religion, make a periodic pilgrimage at the time of the
summer solstice, on foot or horseback, from their reservation in northwest New Mexico
to the mountain area the tribe calls Kohlu/wala:wa, which is in northeast Arizona. The
Zuni believe Kohlu/wala:wa is their place of origin, the basis for their religious life, and
the home of their dead. The pilgrimage has occurred since the fifteenth century.
The pilgrimage crossed over the rather large landholdings of Earl Platt. In 1985, Mr.
Platt declared that he was going to prohibit the Zuni from crossing his lands during their
pilgrimage. The United States government intervened in the dispute on behalf of the
Zuni. A woman from St. Johns, Arizona (located in the northeast part of the state), has
testified that she remembers watching the pilgrimage as a girl in 1938. Can Mr. Platt
stop the Zuni? Do the Zuni have any rights? U.S. on Behalf of Zuni Tribe of New
Mexico v. Platt, 730 F.Supp. 318 (D. Ariz. 1990).
How far apart are the guide meridians?
a. 24 miles
b. 36 miles
c. 16 miles
d. Indeterminate since there are only 35 of them
For a real estate contract to be valid
a. There must be a formal written agreement
b. Both parties must sign
c. It must be notarized
d. None of the above
Sal Simpson and Jeff Gibbons entered into a contract for Gibbons to sell his property to
Simpson. The closing date was to be January 13, 2013. They also opened an escrow for
closing and put the closing date as January 13, 2013. The contract provided that if the
closing did not occur by January 13, 2013, either side could terminate the agreement.
The property did not close on January 13, 2013, so Gibbons sent a letter to Simpson
canceling the transaction. The escrow agent received all the necessary funds and
documents by January 14, 2013 and went ahead and closed on the sale. Gibbons wants
his property back. Which of the following is correct?
a. Gibbons must convey title to the property because all requirements for closing were
met
b. Gibbons is entitled to have the title restored to him because the contract time for
closing controlled the transaction
c. Simpson lost the right to purchase the property by having escrow instructions
d. Gibbons cannot stop the actions of an escrow company once the escrow is
established
The bid notice is
a. The offer from the owner
b. An invitation for offers
c. A unilateral offer accepted by a bid
d. The contractor's notification of intent to submit a bid
e. None of the above
Drake Mall is located in an area that has a high crime rate. The mall parking lot has
excellent lighting and the owners of the mall provide 24-hour security for the facility,
both inside the facility and outside in the parking lot. A mall patron was attacked,
robbed, and savagely beaten at 8:45 p.m. on a Friday evening. Mall security had just
been in the parking area where the patron was accosted two minutes before the attack.
Which of the following best describes the extent of the mall owners' liability for the
patron's injuries?
a. There is never liability from the criminal acts of third parties
b. There is liability if a patron had been attacked in that area before
c. There is no liability if the security steps Drake Mall has taken are reasonable and
prudent
d. There is liability because commercial property owners are insurers against crimes to
their invitees
Landlords are generally liable for the loss of profits that their construction projects
cause to their tenants.
Describe the information necessary in a contract so that it will be sufficient to support a
lien in contract states.
Barbara is negotiating with Wilt for the purchase of Wilt's home. Offer suggestions to
Barbara for provisions that should be included in the contract and investigations that
she should have completed before she buys.
Suppose Jones brings an action in forcible detainer or an action for dispossession. What
defenses can Tenant One assert?
The following testamentary grant is made: "To my wife for life, remainder to my
children when all have graduated from college." Discuss what interests have been
created and any applicable rules.
Andrew Letsos listed his property for sale with Andrew Brusha, an agent with Century
21-New West Realty, on June 15, 1990. The property was listed at a price of $229,000,
and Letsos agreed to pay a 6 percent commission. After eight consecutive listing
renewals and no buyers, the property was listed again at a price of $129,000 on
September 16, 1992. Following a listing period at the new price that ran one and a half
years with no success, Mr. Brusha contracted with Mr. Letsos to buy the property for
$92,000 on March 9, 1993. Sometime later in March 1993, Mr. Brusha met Anthony
Hernandez, another real estate broker. In May, Mr. Brusha and Mr. Hernandez
contracted for the sale and purchase of the Letsos property for $115,000, with closing to
take place on or before July 27, 1993.
Letsos and Brusha closed their deal on the property in July 1993. When Letsos's
attorney called Brusha for a follow-up payment, Brusha asked for some time because he
would have the money as soon as his sale of the property to Hernandez closed. Letsos's
attorney then told Letsos about the Hernandez sale and Letsos filed suit against Brusha
and Century 21 alleging breach of fiduciary duty by Brusha in his failure to disclose the
sale. Should Letsos recover for breach of fiduciary duty?
