REAL ESTATE LAW EXAM QUESTIONS WITH ANSWERS

REAL ESTATE LAW EXAM QUESTIONS WITH ANSWERS
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A //house //is //under //contract //for //sale; //it //has //a //built-in //bookcase //and //a //chandelier. //The
//buyer //has //also //agreed //to //purchase //a //dinette //set //and //a //table //lamp //from //the //seller //as


//well. //Which //is //most //correct? //- //CORRECT //ANSWERS(S)✔✔The //built-in //bookcase //and
//chandelier //are //included //in //the //real //estate //contract, //because //they //are //part //of //the //real


//estate. //The //dinette //and //table //lamp //are //chattels //and //would //be //sold //separately.




All //laws //- //state, //county, //municipal, //private //- //must //fit //within //the //constraints //of //this
document: //- //CORRECT //ANSWERS(S)✔✔US //CONSTITUTION
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An //item //of //personalty //that //is //affixed //to //the //realty //so //as //to //be //used //as //part //of //it //is: //-
CORRECT //ANSWERS(S)✔✔A //FIXTURE
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Bob //owns //a //bakery //in //Maplecrest, //NJ. //Business //is //not //going //well, //and //he //is //already //a
//few //payments //behind //on //his //mortgage. //The //income //from //the //bakery //is //not //enough //to


//repay //his //debt //-- //he //owes //Bank //of //America //$100,000 //on //his //mortgage //and //the


//Maplecrest //Credit //Union //$25,000 //for //a //loan //he //took //out //to //buy //his //high-end //baking


//oven. //If //BofA //forecloses //on //his //mortgage, //will //they //be //able //to //access //the //oven //as //well


//as //the //property //as //security //for //the //loan, //since //the //oven //has //been //attached //to //the


//floor //of //the //kitchen? //- //CORRECT //ANSWERS(S)✔✔No, //as //long //as //the //credit //union //filed //a
//UCC //lien //protecting //its //security //interest //on //the //oven, //the //credit //union //gets //the //oven.




One //of //these //is //an //example //of //a //Federal //Agency, //empowered //to //enforce //federal //law: //-
CORRECT //ANSWERS(S)✔✔environmental //protection //agency
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One //of //these //is //an //example //of //Federal //Legislative //Enactments: //- //CORRECT
//ANSWERS(S)✔✔Comprehensive //Environmental //Response, //Compensation, //and //Liability
//Act //(CERCLA)

,In //In //re //North //Carolina //Swine //Farm //Nuisance //Litigation, //the //court //dealt //with //the //issue
//of //whether //plaintiffs //possessed //sufficient //property //interest //to //maintain //a //nuisance


//action. //What //did //the //court //decide? //- //CORRECT //ANSWERS(S)✔✔Yes, //because //they //have
//shown //that //they //are //lawfully //occupying //the //property




The //following //are //examples //of //private //laws //- //CORRECT //ANSWERS(S)✔✔. //A //Purchase //and
//Sale //Agreement



. //Rules //adopted //by //a //Homeowner's //Association



In //Kelo //v. //City //of //New //London, //a //redevelopment //was //challenged //by //homeowners
//whose //homes //would //be //razed //to //make //room //for //the //new //development. //The


//homeowners //challenged //the //government's //ability //to //take //their //homes. //This //case //went


//all //the //way //to //the //U.S. //Supreme //Court. //What //was //the //primary //issue //in //the //case


//before //the //Supreme //Court? //- //CORRECT //ANSWERS(S)✔✔Whether //the //City's
//redevelopment //plan //served //a //"public //purpose"




What //is //Case //Precedent? //- //CORRECT //ANSWERS(S)✔✔1. //Reliance //on //common //law //and
//prior //court //decisions //to //resolve //a //dispute



2. //Other //parties //can //use //and //rely //on //a //court's //interpretation //of //similar //facts //or //similar
//issues



3. //Can //be //used //as //a //guideline //for //contracts //and //transactions //after //a //judicial //decision



Real //estate //is //best //defined //as... //- //CORRECT //ANSWERS(S)✔✔land //and //all //permanent
//attachments




Should //the //is //US //Supreme //Court //hear //challenges //to //changes //in //laws //impacting //climate
//change //and //the //environment, //which //of //the //following //outcomes //is //likely //with //a //more


//conservative //court: //- //CORRECT //ANSWERS(S)✔✔Environmental //regulations //could //be
//loosened //or //rescinded, //resulting //in //lower //carbon //emissions //standards, //more //national


//parkland //becoming //available //for //development, //fewer //wetlands //subject //to //use


//restrictions.

, Susan //Hewitt //is //a //licensed //broker //in //the //State //of //NJ. //She //is //confused //as //to //her //role //in
//dealing //with //both //buyers //and //sellers //in //the //same //transaction. //What //sources //of //law


//would //help //her //clarify //her //role //with //both //buyers //and //sellers? //Select //all //that //apply. //-


CORRECT //ANSWERS(S)✔✔- //State //laws //on //broker //relationships
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// -State //brokerage //licensing //regulation

-The //listing //contract //for //the //property

-Case //law //dealing //with //this //issue



The //state //court //system //mimics //the //federal //- //trial //level, //appellate //level //and //top //level. //In
NJ, //the //Trial //Court //is //called: //- //CORRECT //ANSWERS(S)✔✔the //superior //court
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This //Amendment //was //added //to //the //Constitution //following //the //Civil //War, //and //was
//necessary //in //order //to //ensure //that //the //southern //states //complied //with //the //new //federal


//laws //providing //citizenship //status //and //"equal //protection //of //the //laws" //to //former //slaves. //-


CORRECT //ANSWERS(S)✔✔fourteenth //amendment
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What //is //the //name //of //the //Federal //Agency //responsible //for //management //and //conservation
//of //federal //lands //and //natural //resources? //- //CORRECT //ANSWERS(S)✔✔Department //of //the
//Interior




Which //constitutional //amendment //requires //that //the //federal //government //cannot //take
//private //property //and //convert //it //to //public //use //without //due //process //and //just


compensation? //- //CORRECT //ANSWERS(S)✔✔fifth //amendment
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Which //government //branches //have //laws //that //impact //real //estate //transactions? //- //CORRECT
ANSWERS(S)✔✔Federal
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State

// County