Judicial foreclosure does not require notice to the mortgagor.
An EIS must be filed for both private and governmental projects.
There was an implied warranty of habitability at common law.
Title insurance covers mechanic’s liens.
The specifics of zoning laws are generally found in state statutes.
The MLS service of the NAR need not include properties from virtual real estate
brokers.
The second-look doctrine applies to the buyer’s right to a second inspection before
closing on the property.
In a wrap’‘around, the buyer is personally liable on the existing mortgage.
The previous presence of meth labs on a property is now a required disclosure in many
states.
There are 640 acres in a section.
A tax deed is a general warranty deed.
Adverse possession requires proof of animosity or anger between the parties.
Flipping is another name for the continuing refinancing of a home mortgage to take
advantage of declining interest rates.
Time’‘sharing interest owners have transfer restrictions on their interests.
There are three parties in a deed of trust financing arrangement.
What remedies are available when a company has released harmful emissions into the
air without a permit?
a. Criminal penalties
b. Civil penalties and recovery
c. Injunctions
d. All of these are available remedies
For the doctrine of part performance to apply
a. There must have been valuable improvements made
b. There must be possession and partial payment
c. Both a and b
d. Either a or b
G leaves a life estate to A and “then to B when B reaches age 21.” What interest does B
hold?
a. A remainder
b. A reversion
c. An executory interest
d. An interest violative of RAP
Privity of contract is required
a. In consent states
b. In contract states
c. In all states
d. None of the above
The Smiths have recently discovered that there is a mechanic’s lien on their property.
Mrs. Smith wants to know where to turn to find the law on mechanic’s liens. Which of
the following sources is correct?
a. State constitution
b. State legislative enactments
c. Federal regulations
d. U.S. Constitution
One of the effects of Superfund site designations
a. Is an increase in brownfields
b. Increased due diligence
c. No clean-ups
d. a and b only
In a deed of trust financing arrangement
a. The lender is the trustor
b. The buyer/borrower is the trustee
c. The buyer/borrower is the settlor
d. None of the above
On May 1, 2005, Cynthia Hendrix bought her home and First Bank recorded its
mortgage. On June 24, 2007, Cynthia sold her home to Stanton Gulbrandsen for
$250,000. At that time, Cynthia’s mortgage was $225,000. Stanton assumed Cynthia’s
mortgage and gave Second Bank a second mortgage for $225,000. Second Bank did not
record its mortgage. On October 12, 2009, Stanton sold the home to Derek Bolger for
$275,000. Bolger took the property subject to the previous mortgages and executed a
$275,000 mortgage to Third Bank. Third Bank recorded its mortgage on October 18,
2009. Third Bank knew of the Second Bank mortgage.
In a race-notice state, which mortgage company has second priority?
a. First Bank
b. Second Bank
c. Third Bank
d. Impossible to tell from facts given
Bill Blass is accepting bids for construction of a new office building on his
centrally’‘located property. Blass wants to be certain that he is protected in the bidding
process so that if the selected construction firm backs out after acceptance but before
construction, he is compensated for the delay in finding a new contractor. Blass needs
a. a bid bond
b. a performance bond
c. a construction bond
d. a payment bond
e. None of the above
Assume the following sequence of events:
Day 1 ‘“ O conveys to A (bfp)
Day 2 ‘“ O conveys to B
Day 3 ‘“ B records
Day 4 ‘“ O conveys to C (bfp)
Day 5 ‘“ A records
Day 6 ‘“ C records
Under a pure race statute, who has title?
a. A
b. B
c. C
Which of the following is covered by the Rule Against Perpetuities?
a. Options
b. Vested interests
c. Contingent remainders
d. Possibility of reverter
e. Both c and d
A lien waiver
a. Is given by a sub in exchange for payment
b. Is the same thing as a preliminary notice
c. Does not waive the sub’s right to foreclosure
d. None of the above
The SE’‘1/4 of the NE’‘1/4 has how many acres?
a. 160
b. 80
c. 40
d. None of the above
Which of the following types of deeds gives the warranty of quiet enjoyment?
a. Warranty
b. Special warranty
c. Sheriff’s deed
d. a and b
e. None of the above
The tax assessor for Los Angeles county wishes to tax The Shane Company, a jeweler
that owns the air rights for its five story building above a theater on Wilshire Boulevard.
The Shane Company insists that it owns no real property.
a. The assessor is correct; the air rights are a real property interest
b. The Shane Company is correct; air is not a real property interest
c. The air rights must be taxed as personal property
d. The theater owns the air rights and should be taxed
A government regulation that deprives a landowner of use of her property
a. Is a taking that requires compensation
b. Is not a taking since the landowner still has title
c. Is a taking but no compensation is required
d. None of the above
Anchor tenants
a. Tend to pay more rent per square foot than the other smaller tenants
b. Tend to pay less per square foot than the other tenants
c. Are liable to the smaller tenants for damages if they fail to open their store in a center
d. Can terminate their leases at any time without having to pay damages
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.
If an easement is created by a conveyance
a. It does pass with the title to the land
b. It does not pass with the title to the land
The following statute has been passed in one of the fifty states:
Anyone openly and notoriously cohabitating in any premises with a person of the
opposite sex other than his or her spouse shall be subject to conviction and punishment
under the classification of Misdemeanor 1.
To whom does this statute apply? Discuss each of the following categories of people in
light of the statute’s probable intent.
a. Families with male and female children
b. A brother and sister sharing an apartment while attending college
c. A niece residing temporarily with an uncle
d. A woman living with her male companion
To which of the following groups does a landowner owe the highest degree of care?
a. Trespasser
b. Licensee
c. Invitee
d. None of the above
Creation of an easement by implied grant or reservation requires proof of
a. Absolute necessity
b. Unity of ownership immediately prior to the sale
c. Prescriptive rights
d. None of the above
On June 15, 1982, Shirley Joyce Speers signed a ‘Last Will and Testament.’ It named her
husband, Ralph Speers, as her executor. It also gave her daughter, Sherry Arlene Ross,
her household furnishings and appliances, and her son, Daniel Eugene Speers, her
livestock. Her husband was named the beneficiary of the rest of the estate, provided he
paid the estate’s expenses. If he failed to do so, his share went to their children and
grandsons. The will was probably witnessed and signed, but not notarized. The
witnesses did not see any lines or strikeouts in the will when they signed it. Shirley died
on April 20, 1997, and the will was found with strike-outs that eliminated the gifts to
her husband. Which of the following occurs as a result?
a. The will is admitted to probate as it was originally executed
b. The will is admitted to probate with all the terms except those that are crossed out
c. The will cannot be admitted to probate
d. None of the above
In 1952, Ogle was the owner of two adjoining lots numbered 6 and 7 fronting at the
north on a city street. In that year, he laid out a concrete driveway along and two feet
from what he erroneously believed to be the west boundary of lot 7. Ogle used the
driveway for access to buildings situated at the southern end of both lots. Later, in 1952,
he conveyed lot 7 to Dale, and thereafter in the same year he conveyed lot 6 to Pace.
Neither deed made any reference to the driveway, and after the conveyance Dale used it
exclusively for access to lot 7. In 1976, a survey by Pace established that the driveway
encroached six inches on lot 6, and Pace brought an appropriate action to establish his
lawful ownership of the strip upon which the driveway approaches, to enjoin its use by
Dale, and to require Dale to remove the overlap. What result?
Discuss the documents necessary for the creation of a co’‘op and a condominium.
Both the possibility of reverter and right of entry can be transferred inter vivos.
Explain the purpose behind the Rule Against Perpetuities.
The City of Scottsdale has adopted a zoning ordinance that requires all businesses to
have a Western front or architectural style to their buildings. Most businesses already
had the appearance. Scottsdale is a resort town, drawing its income primarily from
tourist trade. One merchant has brought suit challenging the validity of the ordinance.
What result?
With reference to #12, what if the state had passed a statute that prohibited the taking of
property by local governments for purposes of substituting a different business in an
area?
A deed that is not recorded is void.
Margaret was shopping in a large grocery/department store when she slipped on some
spilled dusting powder and fell, injuring her back. Margaret wishes to recover for her
medical bills and her injury. What result? What further information would be helpful?