CA DRE Real Estate Exam- Practice Correct Solutions 2023/2024
Two friends hold title as joint tenants. One borrowed money and executed a deed of trust against the property. In terms of affecting title this action could: - ANSWERPlace the beneficiary in a precarious position should the borrower die before the debt is paid. Joint tenant estate held by two joint tenants is severed and ended by the following: - ANSWERA foreclosure by one of the joint tenants. One of the joint tenants transfers his interest to a third party. One of the joint tenants sell his interest. A man owns six seperate parcels of real property. He wants to offer all of the parcels as security for a mortgage loan. The mortgage that he will obtain will probably be? - ANSWERA blanket mortgage All of the following acts of one joint tenant terminates a joint tenancy except when the joint tenant: - ANSWERMortgages his or her share Avulsion - ANSWERIs the sudden tearing away of land by the the action of water When appraising a home build in 1910 the appraiser must use: - ANSWERToday's cost and today's reproduct ion cost The appraiser gives an 30 year old home a rating of 6 years is called: - ANSWEREffective age a home painted in 1972, even if the seller repainted the property a lead based paint booklet is required, if not, the ommission allows the buyer to: - ANSWERcancel the transaction. Not funtional obsolescense - - ANSWERProximity of nuisances
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