The EPA prescribes standards for release of effluent as part of the NPDES permit
system.
A seller can revoke an option at any time so long as there is proper notification.
An executor need only sign his name to the deed to transfer title.
An oil and gas lease is a subsurface property right.
The U.S. Supreme Court has required the EPA to address global warming via
regulation.
PSD regulations apply in nonattainment areas.
Equitable servitudes require privity.
Sections are numbered according to their distance from the guide meridians.
Estate taxes affect the amount of inheritance.
Companies that find violations must self-report them to the EPA within 30 days in order
to enjoy favorable treatment for voluntary disclosures.
Rescission is generally the remedy for misrepresentation.
Consent states require proof of an express or implied contract.
A tenancy by the entirety is a joint tenancy between husband and wife.
When developments become ghost developments there are federal grant programs to
help get the development moving again.
A lien for federal estate taxes is a judicial lien.
Security deposit regulations can include interest payment requirements.
Adverse possession cannot arise from a mistake on boundary lines.
Investment interest can be deducted from any source of income.
Escrow instructions are a contract between buyer, seller and escrow agent.
Discuss whether each of the following would be a fixture or personal property. Be
certain to discuss all relevant factors in making your determination.
a. In a residence, a sofa and chair that are made of the same fabric as the draperies. The
buyer of the residence wants to know.
b. A floor cable for PROFS, the IBM intraoffice communication system. The tenant
wants to know if it can take it when the lease expires.
c. Refrigerators in an apartment complex that is being sold.
A broker who buys a client’s property through a third party
a. Need not disclose the purchase so long as the client agreed to a dual agency
b. Need not disclose the purchase so long as the broker qualifies for financing
c. Either a or b
d. None of the above
Which of the following is not characteristic of the Prior Appropriation Doctrine of
Water Rights?
a. First in time/first in right
b. Must own land abutting or touching the body of water
c. Water can be used for natural and artificial purposes
d. Both b and c
e. All of the above are characteristic of prior appropriation
Randy Baca resides with her two children in a two’‘bedroom apartment owned by
Lakefront, Inc. The hot water in the apartment is too hot for Randy to touch, and she
has complained to Lakefront and the manager. Her six’‘year old daughter is severely
scalded when she tries to draw water for her bath. Which of the following is correct?
a. Lakefront will be held liable for the injuries
b. Lakefront will not be held liable since their obligation is only to furnish hot water
under a warranty of habitability
c. Lakefront will not be held liable because Baca should have moved out
d. None of the above
Which of the following is most likely to be considered a fixture in a residential sale?
a. Ceiling fan
b. Refrigerator
c. Sofa
d. Above-ground spa
With reference to #29, what type of interest does X hold?
a. Fee simple determinable
b. Fee simple subject to a condition subsequent
c. Fee tail
d. None of the above
In 1995, Edna R. Murphy executed a quitclaim deed conveying her residence to herself
and Dorothy Moore as joint tenants with a right of survivorship. This quitclaim deed
was recorded. In 1998, Murphy quitclaimed her interest in the property to another party,
who, in 2002, quitclaimed the property back to Murphy. Who owns the property now?
a. Murphy and Moore as joint tenants
b. Murphy and Moore as tenants in common
c. Murphy, Moore, and the third party as tenants in common
d. Murphy and the third party as tenants in common
18 U.S.C. Section 1201 is an example of a
a. Federal administrative regulation
b. Federal legislative enactment
c. State statute
d. Provision of the U.S. Constitution
Angela holds an easement that prevents Bill from planting willow trees. Angela and Bill
are adjoining landowners, and Angela obtained the easement because she felt the roots
of willow trees would harm her in-ground swimming pool.
What type of easement has been granted?
a. An easement in gross
b. A negative easement appurtenant
c. A quasi easement
d. An easement by prescription
The National Environmental Quality Act
a. Establishes the EPA
b. Establishes the requirements for EISs
c. Has been repealed
d. None of the above
Non-refundable cleaning deposits are not permitted under URLTA.
Earnest money
a. Is the deposit on a land purchase
b. Is the same as an option
c. Is paid by the seller
d. None of the above
What is included in determining the amount for which an investor is at’‘risk?
a. Initial contribution
b. Personal liability for debts
c. Pledges of property
d. a and c only
e. a, b and c
With regard to #54, what is the effect of Xenon self-reporting the issue with the parking
lot?
a. There is no effect; Xenon is still liable
b. Self-reporting reduces the penalty
c. Self-reporting places a greater percentage of liability on the government
d. Self-reporting can be used against Xenon in civil suits
What document do most title companies require when a corporation is selling property
to another?
a. A copy of the corporation’s bylaws
b. The corporation’s registration with the Securities Exchange Commission
c. A board resolution
d. All of the above are generally required
A due’‘on’‘sale clause
a. is invalid in a loan by a federal institution
b. is invalid in a loan by a state institution
c. Prevents assumptions of loans by buyers at the original loan rate
d. None of the above
a “To A for the life of G” is an example of
a. A life estate pur autre vie
b. A tenancy for years
c. A fee simple determinable
d. None of the above
First Fidelity holds the mortgage on property purchased by PCB, Inc. PCB is a
manufacturer that disposed of chemicals in its manufacturing process on the 6 vacant
acres of the land. Three years ago, PCB defaulted on the mortgage and First Fidelity
took over the property and leased it to ASB, Inc., another manufacturer. PCB is now
bankrupt and the EPA has expended $500,000 for clean’‘up of the six acres. Who is
liable to the EPA?
a. First Fidelity
b. PCB
c. ASB
d. a and b only
e. All of the above
Saxon Construction is developing a subdivision of single’‘ family homes. The real
estate market has taken a down turn and Saxon has negotiated a sale of the final eight
lots to Whister who will build a 300’‘unit apartment complex on the lots. There is a
deed restriction for the area that limits construction to single’‘family dwellings. Saxon
amends the deed restriction. Which of the following is correct?
a. Saxon cannot amend the deed restrictions
b. Saxon can amend the deed restrictions for those 8 lots
c. The apartments still fit the single’‘family dwelling description in the restriction
d. None of the above
A public nuisance
a. Cannot be enjoined by a private citizen suit
b. Prevents recovery of damages by individual citizens
c. Is eliminated by federal environmental regulations
d. None of the above
A remainder is a future interest in one other than the grantor.
A gift lapses when the donee predeceases the testator.
Judicial decisions make up part of the common law.
Commercial lease landlords have similar rights of access to the leased premises that
residential landlords have.
William Ratliff left a one’‘acre parcel of land to his children by the following language
in his will:
“To my son, Alex and my daughter, Anne, as joint tenants and not as tenants in
common.”
The land is worth $300,000. Alex borrowed $100,000 from a bank and pledged his
interest in the land as security. Shortly thereafter, Alex was killed in an auto accident.
Anna says she now owns the property free and clear of the bank’s interest. The bank
claims there was no right of survivorship and they can carry their interest through
Alex’s estate. Who is correct?
A subsequent perfected secured creditor cannot take priority over an already existing
mortgage.
A financing statement must be authorized to be valid.
The Judds purchased a home in a subdivision in Arizona that was designated as one for
those age ’55 and over.’ The restrictions on the subdivision also provide that only
children over the age of 18 can reside with their parents. The Judds’ daughter was
recently divorced and has asked to live with them for a few months until she is
financially stable again. The Judds’ 12-year-old granddaughter will also be moving in.
Can the neighbors obtain a court order to require the daughter and granddaughter to
move out? Riley v. Stoves, 526 P.2d 749 (Ariz. 1974)