CONNECTICUT R.E. EXAM
QUESTIONS WITH VERIFIED
ANSWERS
The state requires that the values placed on all properties reflect their - ANSWER-
market value
Connecticut law requires _______-year real estate valuation and a physical
inspection every ______ years - ANSWER-5; 10
Connecticut statutes generally hold tax liens to a ______-year maximum. To be
valid, tax liens must be recorded by the agency levying the tax within two years from
the due date. - ANSWER-15
All contracts over ______ in Connecticut must be in writing. - ANSWER-$500
Real estate contracts must contain the basic legal elements to be enforceable.
These include legally competent parties, offer and acceptance, legality of object, and
- ANSWER-valid consideration
Listing and buyer agency contracts are bilateral contracts. To be enforceable,
agency agreements must be in writing and contain certain minimal provisions,
EXCEPT - ANSWER-identification of involved in the property transaction
If the buyer or seller breaches a real estate contract ending in a dispute, the broker
holding the escrow funds has the option to - ANSWER-deposit the funds with a court
Residential property condition disclosure notices must be given to a property buyer
by the seller in all residential transactions, EXCEPT in the case of - ANSWER-newly
constructed residential real estate
The municipal tax rate in Connecticut is - ANSWER-.25%
The Connecticut state conveyance tax rate is - ANSWER-.75% of the first $800,000
and any amount over that is taxed at 1.25%
A couple sold their East Haven home to a buyer for $850,000. How much does the
couple owe in municipal and state conveyance taxes? - ANSWER-$8,750
A couple sold their home in East Haven for $650,000. How much do they owe in
municipal and state conveyance taxes? - ANSWER-$6,500
The prescriptive period to acquire adverse possession requires the adverse
possessor to have had uninterrupted use for a period of - ANSWER-15 years
A man believes he has acquired title to a property by adverse possession. To make
a legal claim, he MUST - ANSWER-bring a quiet title action in civil court
QUESTIONS WITH VERIFIED
ANSWERS
The state requires that the values placed on all properties reflect their - ANSWER-
market value
Connecticut law requires _______-year real estate valuation and a physical
inspection every ______ years - ANSWER-5; 10
Connecticut statutes generally hold tax liens to a ______-year maximum. To be
valid, tax liens must be recorded by the agency levying the tax within two years from
the due date. - ANSWER-15
All contracts over ______ in Connecticut must be in writing. - ANSWER-$500
Real estate contracts must contain the basic legal elements to be enforceable.
These include legally competent parties, offer and acceptance, legality of object, and
- ANSWER-valid consideration
Listing and buyer agency contracts are bilateral contracts. To be enforceable,
agency agreements must be in writing and contain certain minimal provisions,
EXCEPT - ANSWER-identification of involved in the property transaction
If the buyer or seller breaches a real estate contract ending in a dispute, the broker
holding the escrow funds has the option to - ANSWER-deposit the funds with a court
Residential property condition disclosure notices must be given to a property buyer
by the seller in all residential transactions, EXCEPT in the case of - ANSWER-newly
constructed residential real estate
The municipal tax rate in Connecticut is - ANSWER-.25%
The Connecticut state conveyance tax rate is - ANSWER-.75% of the first $800,000
and any amount over that is taxed at 1.25%
A couple sold their East Haven home to a buyer for $850,000. How much does the
couple owe in municipal and state conveyance taxes? - ANSWER-$8,750
A couple sold their home in East Haven for $650,000. How much do they owe in
municipal and state conveyance taxes? - ANSWER-$6,500
The prescriptive period to acquire adverse possession requires the adverse
possessor to have had uninterrupted use for a period of - ANSWER-15 years
A man believes he has acquired title to a property by adverse possession. To make
a legal claim, he MUST - ANSWER-bring a quiet title action in civil court
