Test

Christie's Real Estate Test

Christie Wallace Bergen 140 preguntas Actualizado el 19 oct 2018

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Preguntas del test (140)

1priority of interest in real estate is usually determined by:
1. Adate of the document
2. Bactual knowledge
3. Cdate of recordation
4. Dreference to statute of frauds
2Which of the following statements is INCORRECT?
1. Aa deed conveys a present interest in real estate
2. Ba will conveys no interest in real estate until after the death of testator
3. Ca deed conveys a future interest in real estate if so specified by the grantee
4. DA will conveys no interest in real estate until it is probated
3If a purchaser breaches a valid and enforceable sales contract, the seller may at his/her option
1. Adeclare the contract forfeited and retain as liquidated damages any payments received from the buyer
2. Brescind the contract and return any payments received from the buyer
3. Csue for specific performance
4. Dany of the above
4All of the following are examples of how a contract may be discharged EXCEPT:
1. Aexpiration of time according to the statute of limitations
2. Bunilateral rescission by a defrauded purchaser
3. Cnovation
4. Dsupervening illegality
5Frances, an elderly lady, entered into a contact to sell her home when her unscrupulous nephew Bruce took unfair advantage of his relationship with her. Frances
1. AWill have to sell if the purchaser is an innocent third party
2. Bmay rescind the contract if she chooses
3. Cwill not have to sell because the contract is void due to fraud
4. Dwill have to sell but has legal recourse against Bruce
6A novation can be any of the following EXCEPT:
1. Asubstitution of a new contract for an existing contract.
2. Bsubstitution of one party for another
3. Csubstitution of a new obligation to discharge a former obligation
4. Dsubstitution of a new agreement by one party against the wishes of the other party
7An executory contract is one where
1. Asomething reminds to be done by one of both parties
2. Bthe contract has been properly signed
3. Ccontract time limit has expired
4. Done of the parties has died before closing and the decedents executor must act on behalf to he deceased.
8An implied contract is one where:
1. AThe parties express their intent orally
2. BThe parties express their intent in writing
3. CThe parties agreement is shown by their acts and conduct
4. Done party makes a promise in order to induce another party to act.
9Which of the following will normally control the contents of a deed ?
1. Athe listing agreement
2. Bthe contract for sale
3. Cthe verbal representation of seller and broker
4. Da properly executed power of attorney by the seller
10The Statue of Limitations refers to
1. ARights
2. Btime
3. Cterminology
4. Dlegal description

11A broker has listed a property for a client who lives in another state. when an offer is received from a cooperating agent, it is FAXED to the owner. he then FAXES back a signed acceptance to his agent who in turn delivers it to the buyers agent. When did it become a binding agreement?
1. Awhen the seller signed it
2. Bwhen it was received by the listing agent
3. Cwhen it was received by the buyers agent
4. Dnever because FAXED signatures are not legal
12Broker Mike Stevens Tells Andy Malcolm that certain land is zoned for industrial use. Although Stevens thought he was correct, the land was actually zoned for residential. Malcolm relied on stevens' representation and signed a contract to purchase the land.
1. AMalcolm may rescind the contract
2. Bthe contract is void because of fraud
3. Cthe contract lacks mutual assent
4. Dthe contract is valid and enforceable because Stevens made an honest mistake.
13When there is a conflict between the wording of portions of a sales contract, which of the following takes precedence over all other wording?
1. ATypewritten
2. Bprinted
3. Cstandard
4. Dhandwritten
14white of the following parties receives equitable title?
1. Aoptionee
2. Bvendee
3. Clessee
4. Dmortgagee
15A land contract is:
1. AA financing arrangement where the purchaser pays regular installments of principal and interest to the seller while the seller retains title.
2. Ba method which is used exclusively for the purchase of vacant land
3. Cillegal
4. Dunrecordable
16An enforceable sales contract must include all but which of the following
1. Areality of consent
2. Ban earnest money deposit
3. Cbe in writing
4. Dmutual assent
17Mary Jo Davis gives Steve Calvin an option to buy her farm within the next year for $500k. Calvin agrees to pay $10k for the option. Regarding this transaction which of the following is correct?
1. AIf calvin does not exercise his option, Davis must return the option money
2. Bdavis is the optionee
3. Ccalvin does not have the right to use the property during the option year
4. Dis calvin exercises his option, the $10k will automatically be applied to the purchase price
18If a seller deposits the deed with an escrow agent, but the seller dies before it is delivered to the purchaser, the transfer of title becomes effective on the date the deed was deposited into escrow. this procedure is allowed by
1. Athe parties reality of consent
2. Bthe law of contracts
3. Cthe parol evidence rule
4. Dthe doctrine of relation back.
19in order to enter into a contract to buy real estate. a corporate official who signs the agreement must obtain
1. Athe president of the corporation
2. Ba majority vote of the stockholders
3. Ca corporate resolution passed by the Board of Directors
4. Dthe chairman of the board of directors
20Seller Evans, having signed a contract of the sale of her home, verbally promised the buyer that the living room would be painted. when the buyer moved in, the buyer discovered that the room hadn't been painted as promised. Under these circumstances:
1. AThe seller breached the contract
2. Bthe buyer has no legal recourse
3. Cthe seller must reimburse the buyer a reasonable amount for failure to paint the room
4. Dthe buyer has a legal basis for a suit for damages
21Before being notified of the seller's acceptance, the prospective purchaser may:
1. AWithdraw the offer and receive a full refund of the earnest money deposit
2. Bnot withdraw the offer until the seller has had a reasonable time to consider it
3. Cwithdraw the offer and receive a full refund of the earnest money deposit unless the offer had a time limit which has not yet expired
4. Dwithdraw the offer but forfeit the earnest money
22the provision in a sales contract which obligates the seller to repair a leaking basement one year after closing is called.
1. Aa liquidated damages clause
2. Btime is of the essence
3. Ca survival clause
4. Drelation back clause
23several legal steps must sometimes be taken before a creditor can have an outstanding debt satisfied through the sale of a debtor's property. Which of the following may be required?
1. Ajudgement
2. Battachment
3. Cwrite of execution
4. DAll of the above
24concerning liens, which of the following is INCORRECT?
1. ALiens are always encumbrances
2. BLiens are either equitable or statutory
3. CLiens increase the value of property
4. Dliense are either specific or general
25An easement created for the purpose of giving an owner ingress and egress to his/her landlocked property is:
1. Aan easement in gross
2. Ban easement by subscription
3. Can easement appurtenant
4. Dan easement by abandonment
26Jones owned 50 acres with frontage on Slater Mill Rd. Jones sold the front 30 acres to Smith but reserved an easement for the right of access to the back 20 acres. Which of the following is INCORRECT?
1. AJones has a dominate estate
2. BSmith has a servient estate
3. Csmith's estate is subject to Jone's interest
4. DJones estate in the 20 acres is subject to Smith's interest
27A private deed restriction can be made ineffective by which of the following?
1. Aa ground lease
2. Bconveyance of the property
3. Cvoluntary cancellation by at least 2 of the affected property owners
4. Da conflict with zoning laws
28A provision found only in a deed which subjects the ownership of land to certain restrictions is called a:
1. Acondition
2. Bconvenant
3. Cprescription
4. Dnecessity
29A remainder estate may exist at the same time with all but which of the following?
1. AFee Simple absolute
2. Blife estate
3. Cfee simple on a condition subsequent
4. Dfee simple determinable
30Encroachments are usuually discovered by
1. Atitle search
2. Bphysical inspection
3. Csurvey
4. Drecording
31For 10 years Mr Jones had verbal permission to park a car in Mr Smith's Driveway. Mr Smith sold to Mr Johnson.
1. AJones had a license from Smith; Johnson may continue it or discontinue it as he chooses.
2. BJones continous use over 10 years has probably created an easement by prescription, leaving Johnson powerless to revoke Jones right to continue parking in the driveway
3. CSmith's permission to Jones to use a portion of the land for a specific purpose created an easement appurtenant which runs with the land.
4. DJones use of the driveway was a personal easement in gross, which ended when Smith sold to Johnson
32An encumbrance may be defined as all the following EXCEPT:
1. AAnything which affects of limits the fee simple title
2. BThe degree, quantity, nature, and extent of interest in real property
3. CRights or interests hold by held by someone other than the fee simple owner
4. Da claim, charge or liability that attaches to real property
33A provision found only in a deed which subjects the ownership of land to certain restrictions is called a:
1. ACovenant
2. BCondition
3. Cprescription
4. Dnecessity
34A remainder estate may exist at the same time with all but which of the following?
1. AA fee simple absolute
2. Blife estate
3. Cfee simple ona condition subsequent
4. Dfee simple determinable
35Amy Carson owns 200 acres which are rich in oil reserves. her ownership interest is fee simple absolute. She may:
1. Asell the oil rights but retain fee simple ownership in land
2. Bsell the land but reserve the oil rights
3. Csell the oil rights to one party and all remaining rights in the land to another
4. Ddo any of the above
36Jim is an electrician who was hired by ABC construction to install all of the electrical wiring in a new home. Jim began the work on June 10 and completed the work on June 15. The closing takes place on August 20. If jim is never paid by the general contractor and wishes to file a lien, the effective date would be?
1. Ajune 10th, against property owner
2. BJune 10, against property
3. Cjune 15 against general contractor
4. DAugust 20 against new home owner
37The grantor of a life estate may retain a:
1. AReversionary estate
2. Bless than freehold estate
3. Cremainder estate
4. Dfee simple determinable estate
38Which of the following is an estate in land?
1. Aeasement
2. Blien
3. Cencumbrance
4. Dlease
39statutory liens which are also specific include:
1. Ajudgement lien
2. Bmechanics lien
3. Cmortgage lien
4. Destate tax lien
40The types of leasehold estates include:
1. Aestates from period to period
2. Bestates for years
3. Cestates at sufferance
4. Dall of the above
41General liens encumber all real and personal property owned by the debtor, they include:
1. AMechanics liens
2. Battachment liens
3. Cmortgage liens
4. Djudgement liens
42an easement may be created in any of the following ways EXCEPT:
1. AReservation
2. Bnecessity
3. Cgrant
4. Dmerger
43the right of enjoyment includes some rights over adjoining land including the right of
1. Alateral support
2. Beminent domain
3. Cprescription
4. Dpossession
44under police power which of the following CANNOT be done?
1. Aproperty can be condemned as unfit for occupancy
2. Bproperty can be zoned
3. Cproperty can be taken away for public purpose, provided fair compensation is given
4. Dsubdivision regulations can be enacted
45when may a salesperson legally refuse to show a house to an Asian prospect?
1. Awhen the seller has indicated a desire not to have an Asian own the property
2. Bwhen the seller prohibits an Asian from physically coming on to the property
3. Cwhen the seller says the property is not to be shown while e the seller is out of town
4. Dnever
46a developer purchased a parcel of land 10 years ago, at which time the current zoning would have permitted the construction of 80 houses. now he is ready to build but a recent rezoning now restricts him to 40 houses. is he entitled to some compensation for the down zoning
1. Ayes, because it is right under eminent domain
2. Byes, because the property is grandfathered.
3. Cno, an exercise of police power does not require compensation
4. Dno, because he should have improved the property when he bought it
47zoning ordinances and subdivision regulations, as examples of the enactment of police power, usually cover such matters as: o
1. Abaselines
2. Bset back lines
3. Cdeed restrictions
4. Dencumbrances
48concerning the Federal fair housing law, which of the following is correct with respect to the definition of a minority?
1. Aany group of members of a group that can be identified by race, color, religion, sex, handicap, familial status or national origin
2. Bany group of member of a group that can be identified by any other characteristic on the basis of which discrimination is prohibited by a federal, state of local fair housing law
3. Chas nothing to do with numbers
4. Dall of the above
49the county tax assessor
1. Adetermines the assessed value of each individually owned property in the county
2. Bsets the book value of individual properties
3. Csets the tax rate
4. Dcollects the taxes due on all properties in the county
50with the best of intentions, a salesperson advises an African American family to avoid an area where there have been incidents of bigotry. this constitutes:
1. Ano violation of Fair housing law if the facts stated were true
2. Bno violation of law since the advice was given with good intentions
3. Ca violation in the form of blockbusting
4. Da violation in the form of steering
51the lead based paint hazard reduction act requires that the buyer be provided with certain information when purchasing a residential dwelling or a residential dwelling in which a component of that dwelling was built prior to 1978. which of the following is correct regarding these disclosures?
1. Athe disclosure must be made prior to closing
2. Bthe disclosure must be made prior to showing a property
3. Cthe disclosure must be made within 30 days of signing of the contract
4. Dthe disclosure must be made prior to entering into a contract to purchase
52a prospective purchaser, who is caucasian, asks a salesperson what percentage of the families in a particular are is african American. the salesperson's best course of action would be:
1. Ato refuse to answer the question
2. Bto advise the purchaser that the question is improper
3. Cto refer the purchaser to an appropriate agency such as the public school administration
4. Dto assure the purchaser there is no reason to be concerned sine the percentage is small
53he city of Longview has approved a budget of $12,500,000 which is to be funded by ad valorem tax. the assessment roll shows that all nonexempt property has a fair market value of $950,000,000. If the assessment rate is 40%, what tax rate will each property owner be required to pay?
1. A.33/dollar
2. B.33/100 dollars
3. C3.30/100 dollars
4. D4.40/1,000 dollars
54the Mrs Murphy Exemption to the fair housing law of 1968 requires which of the following?
1. AThat no real estate broker is used
2. Bthat no discriminatory advertising is used
3. Cthat the owner rents units in a 2-4 family building or rooming house
4. Dall of the above
55a Buyer whose number is listed in the DO Not Call Registry has called a broker requesting information on a listing. For what period of time may the broker continue to call the buyer with information on other properties in which the broker feels the buyer may have an interest?
1. Anever
2. Bwithin 3 months of the initial inquiry
3. Cwithin 18 months of the inquiry
4. Dan unlimited time unless the buyer requests no further calls from the company
56Beth Stanfield inherited a lot on Central Ave. in the city of Belview. The lot is zoned for single family, detached residential use. In trying to sell the property, Beth has been unable to find a buyer because of the excessively heavy traffic on Central ave. due to its widening 2 years ago from 2 to 6 lanes. Beth has petitioned the Belview zoning board of appeals for permission to construct a duplex on the lot. her request, if granted, would constitute
1. Aa nonconforming use
2. Ba variance
3. Ca grand fathered property
4. Dspot zoning
57if a house is assessed at $9,000 and an assessment is 30% of the market value, the county assessor would have judged its market value to be:
1. A$27,000
2. B$27,500
3. C$28,000
4. D$30,000
58Of the following statements, which is correct with respect to zoning ordinances?
1. Aplanning commissions and master plans generally are not concerned with aesthetic value.
2. Bzoning regulations supersede deed restrictions
3. CPrivate restrictions and zoning ordinances may both be effective with respect to the same land at the same time. with private restrictions imposing additional limitations on the use.
4. Dzoning ordinances have retroactive application
59You are licensed salesperson working with an out of town Arab client who has identified a home her wishes to see in a neighborhood that you know is predominately Jewish. you should:
1. Atactfully suggest an alternative
2. Bshow the property
3. Cexplain that the neighbors are predominately jewish
4. Drefuse to show the property
60which of the following practices would not violate antitrust laws?
1. ARefusal of real estate boards to admit qualified members
2. Bany brokers going into collusion to set property prices
3. Cestablishing a company policy for determining commissions to be charged
4. D2 of more brokers going into collision to set commission rates
61A client asks a licensed salesperson to find a tenant who will lease her/her furnished home for a 4 month period. to which of the following might your refusal to rent NOT constitute a violation of Fair housing laws?
1. Aan asian family
2. B4 university students
3. C2 single women, with a child
4. Da blind man
62which of the following statements is true concerning the CAN-SPAM act?
1. Athe use of a misleading subject line is permissible as long as the transmission is identified as an ad.
2. Bthe sender has 7 days to honor an opt out request
3. Cthe act prevents the sending of commercial emails unless the sender received prior written permission
4. Devery commercial email must contain an opt out provision
63Charlie is a laotian immigrant. He has subdivided his lot and built a new home next door to his own residence. In listing this house he asks the salesperson to look for a Loatian purchaser. Which of the following statements is true?
1. AThe salesperson might advertise a Laotian preferred
2. Bthe listing isn't illegal sine Charlie has only expressed a preference not a requirement.
3. Cthe listing salesperson should refer the listing to a Laotian salesperson
4. Dthere listing should not be taken under these conditions.
64you can sell your house without a real estate license
1. AVerdadero
2. BFalso
65real estate salespersons earn commissions
1. AVerdadero
2. BFalso
66you can own a real estate brokerage as a salesperson
1. AVerdadero
2. BFalso
67real estate agents appraise homes
1. AVerdadero
2. BFalso
68you need a special license to be a "Property manager"
1. AVerdadero
2. BFalso
69You need a special license to sell "Commercial real estate"
1. AVerdadero
2. BFalso
70Once licensed in Georgia, you can sell real estate in any state
1. AVerdadero
2. BFalso
71To sell mobile homes, you need a real estate license
1. AVerdadero
2. BFalso
72a broker can require you to come to work at specific times
1. AVerdadero
2. BFalso
73real estate pre license class teaches you how to sell real estate
1. AVerdadero
2. BFalso
74you can manage other peoples' real estate without a license
1. AVerdadero
2. BFalso
75A seller hires a salesperson to sell their home
1. AVerdadero
2. BFalso
76a buyer hires a salesperon to help them buy their home
1. AVerdadero
2. BFalso
77the GA real estate commission is the governing body for real estate licensees
1. AVerdadero
2. BFalso
78to sell a business, you need a real estate license
1. AVerdadero
2. BFalso
79real estate takes years to develop a large income
1. AVerdadero
2. BFalso
80the average first year real estate agent makes $35,000 in their first year
1. AVerdadero
2. BFalso
81all of the following items are personal property EXCEPT:
1. Atrade fixtures
2. Ba privacy fence
3. Cpatio furniture
4. Dportable dishwasher
82a seller wishes to remove certain shrubs planted in the front yard and not include the in the sales price of the home
1. Athe shrubs can be removed unless they are valuable
2. Bthe shrubs must be left and included in the sales price of the home
3. Cif the seller planted the shrubs they can be removed
4. Dthe seller may do so only if permission for the removal is specifically stated in the sales contract.
83a permanent addition to a building is:
1. Areal property
2. Bpersonal property
3. Ca chattel real
4. Dan encumbrance
84the transfer of land ownership automatically includes:
1. Aemblements
2. Bfixtures
3. Cchattels real
4. Dtrade fixtures
85water rights along a large, navigable lake or ocean are known as:
1. Atidal rights
2. Bshore rights
3. Ccorrelative rights
4. Dlittoral rights
86water table refers to the:
1. Adifference between the high and low water level of a navigable body of water
2. Blevel at which percolating water is found below the earths surface
3. Cdepth to which a landowner may drill in order to extract water in exercising the right of prior appropriation
4. Dnone of the above
87of the following items which is considered real property?
1. Anatural things movable by law
2. Bnotes secured by mortgages on real estate
3. Criparian rights
4. Dhouse plants
88all of the following are appurtenances EXCEPT
1. Ariparian rights
2. Ba garage
3. Can apple orchard
4. Dtrade fixtures
89real property is changed into personal property by:
1. Athe right of appropriation
2. Bseverance
3. Cthe law of capture
4. Dfructose naturales
90which of the following would be considered an artificial monument when used in metes and bounds legal description?
1. Aa tree
2. Ba fence corner
3. Ca river
4. Da large rock
91an adequate metes and bounds description must have all of the following EXCEPT:
1. Aa definite point of beginning
2. Bfour sides
3. Cclosure
4. Dlinear measurements and compass directions
92the point of beginning on a plat of survey is marked with reference to a:
1. Abenchmark
2. Bdatum
3. Cmeridian
4. Dbase line
93if a man has 6 acres of land and deeds 3/4 of it to a son and the remainder to a nephew, how many square feet of land does the nephew acquire?
1. A261,360
2. B196,020
3. C65,340
4. D43,560
94How many cubic feet of space is there in a warehouse that is 610 feed wide by 140 feet deep and has 18 foot ceilings?
1. A85,400
2. B1,537,200
3. C35
4. D2520
95which of the following would be acceptable on sales contract?
1. Alegal description to be attached
2. Blegal description attached and made a part of hereof by reference
3. Cthe legal description and survey to be provided at closing
4. Dpurchaser to be provided with legal description within 10 days
96When it is necessary to prepare a new metes and bounds description it should be done by:
1. Athe seller
2. Ba licensed surveyor
3. Cthe listing salesperson
4. Dthe selling salesperson
97you have a prospective purchaser for a home, and the listing agent ha not been able to provide you with a legal description. which statement describes your best course of action?
1. Acomplain to the real estate commission
2. Bwrite an offer without a legal
3. Cfind the legal yourself at the courthouse or on the computer
4. Dcontact the seller yourself
98if the only land description you have provided on our offer is the street address
1. Athis could be sufficient if there is no other street by the same name
2. Bthis contract is probably unenforceable
3. Cthis amounts to a contingency that must be resolved
4. Dthe contract may be legal but is unprofessional
99a metes and bounds description must have all of the following EXCEPT:
1. Aa definite point of beginning
2. Bthe name of the county and state
3. Cthe approximate square footage or acreage
4. Dcompass directions and distances from one point to the next
100a metes and bounds description might be insufficient if:
1. it does not have enough sides to close
2. it is irregular in shape
1. Aonly 1 is true
2. Bonly 2 is true
3. Cboth 1 and 2 are true
4. Dneither 1 or 2 is true
101If there is no indication in the deed as to how co-owners are taking title, the law presumes the parties intended to won the property as:
1. Atenants in common
2. Bjoint tenants
3. Cgeneral partners
4. Dseveralty partners
102ownership of real estate for such things as schools, roads, parks, and military installations is?
1. Aprescriptive ownership
2. Bprivate ownership
3. Cpossessive ownership
4. Dpublic ownership
103a condominium may be used for which of the following?
1. Aparking garage
2. Bshopping center
3. Coffice building
4. Dall of the above
104husband and wife who own property as tenants by the entirety:
1. Amust both consent to sell
2. Bmay individually file a partition suit
3. Cmust both sign for any debt secured by the property
4. Dboth A&B
105a tenancy in common form of ownership entitles each co tenant to:
1. Athe right of survivorship
2. Ban equal interest in the land
3. Ctake title free and clear
4. Dan undivided interest in the land
106Al and Sue own property as joint tenants. Under which of the following circumstances will severalty ownership NOT result?
1. ASue files a partition suit which divides the property between Al and Sue
2. BAl sells his interest to Barry
3. CSue sells her interest to Al
4. DAl Dies
107in order to obtain a proprietary lease on a co-op unit an individual must buy a/an?
1. Alicense
2. Bcondominium
3. Cmortgage
4. Dshare of stock
108which of the following characteristics does NOT apply to tenants in common?
1. Ahold separate title to an undivided interest
2. Bmust own equal shares of interest
3. Cmay sell, will or mortgage their interest
4. Dare not subject to right of survivorship
109corporations are not allowed to own real estate in joint tenancy because of the:
1. Aright to file a partition suit
2. Bequal rights of possession requirement for this type of ownership
3. Cright of survivorship
4. Dlimited libation shared by the stockholders.
110an undivided interest of the whole is owner by a:
1. Atenant in common
2. Bjoint tenant
3. Ctenant by the entireties
4. Dall of the above
111in the event of death, which form of ownership permits the deceased to name an heir?
1. Atenancy by the entirety
2. Bjoint tenancy
3. Cordinary life estate
4. Dtenancy in common
112carlos would like to liquidate his 1/3 interest in a business property. His cousin, who has a 2/3 interest dow not agree to selling. Can carlos file a partition suit?
1. Ayes, but only if his cousin consents
2. Byes, because any concurrent owners, except for a tenant by the entireties can file
3. Cno, because a tenant in common cannot file for a partition
4. Dno, because he has less than a majority interest
113Al, Bill, and Rob own property as joint tenants. upon Rob's death his interest passes to:
1. Ahis surviving heirs of those designated in his will
2. Bhis surviving wife, or Al and Bill if she predeceased him
3. Chis surviving wife
4. DAl and Bill
114the owners of a limited liability company are called?
1. Apartners
2. Bstockholders
3. Cmembers
4. Dmanagers
115which of the foliowing types of ownership cannot be created by operation of law, but must be created by the parties expressed intent?
1. Acommunity proeprty
2. Btenancy in common
3. Cjoint tenancy
4. Dcondominium ownership
116the georgia timeshare act requires all of the following EXCEPT:
1. Aall advertising must comply with the Fair Business Practices act
2. Btrust funds must be held in an escrow account
3. Cunless exempt by law, sales agents must be licensed
4. Da 10 day right of recession from receipt of the Public offering statement
117Ken and Dan buy a property as an investment. The deed names both as the new owners, but the instrument is silent as to their respective interests and says nothing about the form of ownership. Under these circumstances which of the following is INCORRECT?
1. AEach owns an undivided 1/2 interest
2. Ba tenancy in common ownership exists
3. Ctheir interests are subject to probate
4. Dthey now the property with the right of survivorship
118the Georgia condominium act requires:
1. Ano right of recession for any condominium purchase
2. Ba 7 day right of recession for the purchase of all condominium units
3. Ca 7 day right of recession for the purchase of previously owned condominium units
4. Da 7 day right of recession for the purchase of new condominium units only
119Joint tenancy will most likely be chosen as a form of ownership by husband and wife to:
1. Adefeat dower and curtesy rights
2. Bavoid personal liability to creditors
3. Cassure each an undivided 1/2 interest
4. Dassure the surviving spouse of sole ownership without probate
120both husband and wife must join in the signing in order to sell or mortgage land held as:
1. Acommunity property
2. Btenants by the entireties
3. Cin states with dower
4. Dall of the above
121Priority of interest in real elates usually determine by:
1. Adate of the document
2. Bdate of recordation
3. Cactual knowledge
4. Dreference to statue of frauds
122the covenant in which a grantor promises that the owner owns the property and has the right to convey title to it is the:
1. Acovenant of warranty forever
2. Bcovenant of seizin
3. Ccovenant of quiet enjoyment
4. Dcovenant of further assurances
123which of the following statements is INCORRECT?
1. Aa deed conveys a present interest in real estate
2. Ba will conveys no interest in real estate until after the death of the testator
3. Ca deed conveys a further interest in real estate if so specified by the grantee
4. Da will conveys no interest in real estate until it is probated
124when performing a title examination, the attorney locates the book and page number where a particular dee is recorded by looking in an alphabetical listing. the subject property is located in a county which uses an index system of recording called:
1. Atorrens index
2. Btract index
3. Calpha index
4. Dgrantor-grantee index
125title to real property is conveyed by deed when:
1. Asigned by the grantor
2. Brecorded by the grantee
3. Cdelivered and accepted
4. Dsigned by the grantee
126if a grantor conveys title to a farm but retains a one acre tract in the northwest corner, the deed would contain
1. Aan exception
2. Ban easement
3. Ca reservation
4. Dnone of the above
127Carmela bought an owner's policy of th title insurance for her new home at closing that took place in June of 2000. A year later a title dispute arose that concerned a claim that the grantor's signature on a deed signed in 1991 was a forgery. Does Carmel's policy cover her?
1. Ayes, because this type of problem is not an exception to a typical owner's policy
2. Byes, as long as Carmela has paid her annual title insurance premiums
3. Cno, because the title problem could not be discovered by searching recorded documents
4. Dno, because the problem occurred long before the policy was written
128Murphy owns a 65 acre tract of land bordering the Flint River. As a result of a gradual accumulation of soil along the river bank, Murphy acquired an additional 10 feet of property. Title to the additional land was acquired through the process of:
1. ADereliction
2. BAvulsion
3. CAccession
4. DErosion
129If a person dies intestate leaving real property as part of hes/her estate, the dependent's heirs will acquire title according to:
1. Aa formal will
2. Bthe laws of descent and distribution
3. Cescheat
4. Dan administrator
130a title defect might be removed by:
1. Aan action to quiet title
2. Btitle insurance
3. Ca certificate of title
4. Da partition action
131the claim of a person trying to prove the title by adverse possession might be strengthened by:
1. Atacking
2. Bpaying the property taxes
3. Ccolor of title
4. Dall of the above
132Scott sells his home to Zachary who immediately takes possession but does not record the deed. 3 days later Scott sells to Martin who records his deed. The rightful owner is
1. Ascott
2. Bzachary
3. Cmartin
4. Dzachary and martin, each having an undivided 1/2 interest
133an amendment or a modification to a will can be affected by:
1. Aa condicil
2. Bexecuting a new deed
3. Cinitiating and witnessing the desired changes
4. Dmaking a patent
134which of the following is not required for a valid and enforceable conveyance of title by deed?
1. Aa written document
2. Bhabendum clause
3. Clegal capacity of grantor
4. Dgranting clause
135a reservation in a deed may be used to create:
1. Aan easement
2. Bquiet title action
3. Ca reversion estate
4. Da 15 foot piece of land reserved by the grantor
136Actual notice results from which of the following?
1. Aexistence of power lines
2. Bknowledge learned by inspecting the public records
3. Ca strangers possession under an unrecorded deed
4. Dan unrecorded deed
137a break of gap in the chain to title results if:
1. Aa previous grantee failed to record the deed
2. Bthere is an existing cloud on the title
3. Ca title search reveals a defective legal description in a deed recorded in the public records
4. Dthe title is encumbered
138with respect to a dependent's property, the probate court has the responsibility of:
1. Aestablishing rightful heirs
2. Bpassing on the validity of a patent
3. Cappointing an executor
4. Dfinding the testator
139the purpose of an acknowledgement is to:
1. Aprevent recordable documents from being signed voluntarily
2. Bassure the grantee of a valid document
3. Cprevent forgery of recordable documents
4. Dto keep the grantee from using a fictitious name
140when a corporate officer signs a deed is could also have a/an?
1. Astamp
2. Bsticker
3. Csign
4. Dseal

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Descripción: real estate real estate Test sobre Christie's Real Estate Test, creado por Christie Wallace Bergen el 09/10/2018.
Autor: Christie Wallace Bergen
Idioma: English
Visitas: 59
Historial: Creado el 9 oct 2018 · actualizado el 19 oct 2018
Etiquetas: real estate
Valoración: Aún sin valoraciones
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Christie's Real Estate Test

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