Gold Coast final exam (questions and answers)
2024 Graded A+;; 100% GUARANTEED PASS
actual notice - ANSWER own it
Constructive notice - ANSWER record something in public records
How Is Real Estate Recovery Funded ? - ANSWER by fees & fines
Eminent Domain - ANSWER government has right to take away public use citizens can't refuse to sell)
immune properties - ANSWER government owned
lot & block - ANSWER residential sub-division surgery system
Metes and Bounds - ANSWER oldest method of land description & provides the most accurate type of
legal descriptions
What does the Real estate recovery fund do ? - ANSWER reimburse members of the public
what is a township... - ANSWER a township is 6 miles square contains 36 square miles
Each township contains ____ acres - ANSWER 640 acres
How many square feet are in an acre? - ANSWER 43,560
kickbacks are illegal unless.. - ANSWER someone has a licensed
, Offer and Acceptance - ANSWER Meeting of the minds or mutual agreement- all parties concerned
understand and agree to all the terms of the contract
Overimprovement - ANSWER An addition or change to property not in line with its highest and best use
statue of frauds - ANSWER provides protection against fraud in the sale of real property. requires
contract for the transfer of a right or interest in land
statute of limitations (oral contracts) - ANSWER if contract is entirely oral, action must be brought within
4 years
statue of limitations (written contracts) - ANSWER if contract is entirely written, action must be brought
within five years
Sufficient Consideration - ANSWER either valuable or good consideration may be sufficient
WILD CARD - ANSWER Withdrawal, insanity, lapse of time, death of either party ,counteroffer,
acceptance,rejection,destruction of property
option contract define - ANSWER right to buy a property during a specified period-of-time, at a specified
price.
contract for deed define - ANSWER aka an agreement between a property owner & potential buyer in
which the owner agrees to deliver a deed to the purchaser after certain conditions been met
Define implied contract - ANSWER exists when some or all of the terms and conditions can be assumed
by the nature of the government
Suit for cancellation (rescission) - ANSWER The party who is not in breach of contract can bring a suit in
court to cancel the contract and ask the court to put the parties back in their original positions.
2024 Graded A+;; 100% GUARANTEED PASS
actual notice - ANSWER own it
Constructive notice - ANSWER record something in public records
How Is Real Estate Recovery Funded ? - ANSWER by fees & fines
Eminent Domain - ANSWER government has right to take away public use citizens can't refuse to sell)
immune properties - ANSWER government owned
lot & block - ANSWER residential sub-division surgery system
Metes and Bounds - ANSWER oldest method of land description & provides the most accurate type of
legal descriptions
What does the Real estate recovery fund do ? - ANSWER reimburse members of the public
what is a township... - ANSWER a township is 6 miles square contains 36 square miles
Each township contains ____ acres - ANSWER 640 acres
How many square feet are in an acre? - ANSWER 43,560
kickbacks are illegal unless.. - ANSWER someone has a licensed
, Offer and Acceptance - ANSWER Meeting of the minds or mutual agreement- all parties concerned
understand and agree to all the terms of the contract
Overimprovement - ANSWER An addition or change to property not in line with its highest and best use
statue of frauds - ANSWER provides protection against fraud in the sale of real property. requires
contract for the transfer of a right or interest in land
statute of limitations (oral contracts) - ANSWER if contract is entirely oral, action must be brought within
4 years
statue of limitations (written contracts) - ANSWER if contract is entirely written, action must be brought
within five years
Sufficient Consideration - ANSWER either valuable or good consideration may be sufficient
WILD CARD - ANSWER Withdrawal, insanity, lapse of time, death of either party ,counteroffer,
acceptance,rejection,destruction of property
option contract define - ANSWER right to buy a property during a specified period-of-time, at a specified
price.
contract for deed define - ANSWER aka an agreement between a property owner & potential buyer in
which the owner agrees to deliver a deed to the purchaser after certain conditions been met
Define implied contract - ANSWER exists when some or all of the terms and conditions can be assumed
by the nature of the government
Suit for cancellation (rescission) - ANSWER The party who is not in breach of contract can bring a suit in
court to cancel the contract and ask the court to put the parties back in their original positions.
