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RE LAW SAE aceable final exam
Questions and Correct Answers/ Latest
Update / Already Graded
Which of these is a bilateral contract?
Ans: Richard signs a contract to buy James's house.
What does severalty mean?
Ans: sole ownership
What agency is responsible for enforcing TRELA?
Ans: TREC
What is the difference between a subdivider and a developer?
Ans: A subdivider parcels out the land; a developer builds
things on it.
If a landlord has the power to retake the property after the lease term
has expired, this means they have a:
Ans: A landlord has a reversionary right; this means that the
landlord has the power to retake the property after the lease
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term has expired. Therefore, the landlord's interest in the
property is known as a leased fee estate plus reversionary right.
Alex defaulted on his loan and lost his house to foreclosure. This is an
example of:
Ans: Involuntary Alienation
The concept of escheat means that property:
Ans: `reverts to the state when a person dies without a will, an
heir, or a creditor
Which of the following has a long lease term and is often used in the
development of commercial property?
Ans: Ground lease
What is adverse possession?
Ans: A method of gaining legal title to real property by the
actual, open, hostile, and continuous possession of it.
What is a contour map used for?
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Ans: it shows hills, valleys, plateaus, and other patterns that
may affect water drainage, runoff, or other development issues
What type of contract is a real estate sales contract?
Ans: bilateral contract
The payment that the prospective buyer makes to the seller in
exchange for the exclusive option to terminate the sales contract
within a specified period of time without penalty is called the:
Ans: Option money
What can the seller do if a buyer defaults on a real estate contract, and
the seller decides to forfeit the contract?
Ans: keep the earnest money and any payments they have
received from the buyer
What is chattel?
Ans: an unattached, moveable asset not considered real estate
Which of the following best defines the term "recording"?
All rights reserved © 2025/ 2026 |
RE LAW SAE aceable final exam
Questions and Correct Answers/ Latest
Update / Already Graded
Which of these is a bilateral contract?
Ans: Richard signs a contract to buy James's house.
What does severalty mean?
Ans: sole ownership
What agency is responsible for enforcing TRELA?
Ans: TREC
What is the difference between a subdivider and a developer?
Ans: A subdivider parcels out the land; a developer builds
things on it.
If a landlord has the power to retake the property after the lease term
has expired, this means they have a:
Ans: A landlord has a reversionary right; this means that the
landlord has the power to retake the property after the lease
All rights reserved © 2025/ 2026 |
, Page |2
term has expired. Therefore, the landlord's interest in the
property is known as a leased fee estate plus reversionary right.
Alex defaulted on his loan and lost his house to foreclosure. This is an
example of:
Ans: Involuntary Alienation
The concept of escheat means that property:
Ans: `reverts to the state when a person dies without a will, an
heir, or a creditor
Which of the following has a long lease term and is often used in the
development of commercial property?
Ans: Ground lease
What is adverse possession?
Ans: A method of gaining legal title to real property by the
actual, open, hostile, and continuous possession of it.
What is a contour map used for?
All rights reserved © 2025/ 2026 |
, Page |3
Ans: it shows hills, valleys, plateaus, and other patterns that
may affect water drainage, runoff, or other development issues
What type of contract is a real estate sales contract?
Ans: bilateral contract
The payment that the prospective buyer makes to the seller in
exchange for the exclusive option to terminate the sales contract
within a specified period of time without penalty is called the:
Ans: Option money
What can the seller do if a buyer defaults on a real estate contract, and
the seller decides to forfeit the contract?
Ans: keep the earnest money and any payments they have
received from the buyer
What is chattel?
Ans: an unattached, moveable asset not considered real estate
Which of the following best defines the term "recording"?
All rights reserved © 2025/ 2026 |
