Illinois Real Estate Leasing Agent License Preparation
questions with verified answers
A constructive eviction may... Ans✓✓✓ Result if a lessor allows a property to fall
into a state of disrepair to the extent that it becomes uninhabitable.
Acceptance Ans✓✓✓ Accomplished when the seller or landlord agrees to the
terms they offer.
Accord and Satisfaction Ans✓✓✓ parties' agreement to change the obligation
required by their original contract and the performance of the new obligation
Are the rights required through a lease personal property rights or rights to real
property? Ans✓✓✓ Personal property rights
Competent Parties Ans✓✓✓ Must be 18 in Illinois, sane and sober, and they
must have the authority to take action regarding the property
fraud Ans✓✓✓ Occurs when one party intentionally misrepresents or conceals
facts that are relevant to the contract. Contract is voidable by innocent party
If a landlord desires to terminate the lease. What should they give the tenant
Ans✓✓✓ 5 day notice
Is an oral Lease for a year or less still enforceable? Ans✓✓✓ Yes, but anything
longer than a year is only enforceable through writing
, land Ans✓✓✓ Consists of the surface, subsurface, and airspace.
Novation Ans✓✓✓ Occurs when all parties agree to a substitution of one of the
parties to the contract by creating a new agreement
offer Ans✓✓✓ When tenants or buyers want to enter into an agreement to rent
or purchase, They explain the terms they would like the seller or landlord to agree
upon.
Statute of Frauds Ans✓✓✓ requires real estate contracts to be in writing to be
enforceable
Statute of Limitations Ans✓✓✓ Limits the amount of time a party has to bring
action against another party who has committed fraud or violated the terms of a
contract. Time period varies
subsurface Ans✓✓✓ Space beneath the surface
Surface Ans✓✓✓ what appears or what can be seen
Surrender and Acceptance indicates... Ans✓✓✓ The mutual agreement of
parties to terminate the lease
Voluntary termination of a lease... Ans✓✓✓ Is automatic upon expiration of its
term or through surrender and acceptance at any time during its term
questions with verified answers
A constructive eviction may... Ans✓✓✓ Result if a lessor allows a property to fall
into a state of disrepair to the extent that it becomes uninhabitable.
Acceptance Ans✓✓✓ Accomplished when the seller or landlord agrees to the
terms they offer.
Accord and Satisfaction Ans✓✓✓ parties' agreement to change the obligation
required by their original contract and the performance of the new obligation
Are the rights required through a lease personal property rights or rights to real
property? Ans✓✓✓ Personal property rights
Competent Parties Ans✓✓✓ Must be 18 in Illinois, sane and sober, and they
must have the authority to take action regarding the property
fraud Ans✓✓✓ Occurs when one party intentionally misrepresents or conceals
facts that are relevant to the contract. Contract is voidable by innocent party
If a landlord desires to terminate the lease. What should they give the tenant
Ans✓✓✓ 5 day notice
Is an oral Lease for a year or less still enforceable? Ans✓✓✓ Yes, but anything
longer than a year is only enforceable through writing
, land Ans✓✓✓ Consists of the surface, subsurface, and airspace.
Novation Ans✓✓✓ Occurs when all parties agree to a substitution of one of the
parties to the contract by creating a new agreement
offer Ans✓✓✓ When tenants or buyers want to enter into an agreement to rent
or purchase, They explain the terms they would like the seller or landlord to agree
upon.
Statute of Frauds Ans✓✓✓ requires real estate contracts to be in writing to be
enforceable
Statute of Limitations Ans✓✓✓ Limits the amount of time a party has to bring
action against another party who has committed fraud or violated the terms of a
contract. Time period varies
subsurface Ans✓✓✓ Space beneath the surface
Surface Ans✓✓✓ what appears or what can be seen
Surrender and Acceptance indicates... Ans✓✓✓ The mutual agreement of
parties to terminate the lease
Voluntary termination of a lease... Ans✓✓✓ Is automatic upon expiration of its
term or through surrender and acceptance at any time during its term
