Real Estate Law I Final Review Exam (New 2024/ 2025 Update) Introduction to the Incident
Command System | Questions and Verified Answers| Grade A | 100%
1 The deed says, I grant this land to B for life, and then to C" Before the death of B, which future interest
does C have? - (answer)In this life estate, has a remainder interest.
2. P wants to extend the side of the house beyond the setback boundary. P must obtain - (answer)d)a
variance.
6. When a broker returns his own broker's license to the Superintendent of the Division of Real Estate so
as to reactivate his salesperson license, the license said to be - (answer)A broker can place a license on
deposit and reactive a sales license.
7. In Ohio, for property to escheat to the state, which must be TRUE? - (answer)When e deceased
person leaves no heirs and does not have a will, the property may escheat to the state
9. Two parcels of land wherein one parcel has the use of another for a specific, limited purpose is called
- (answer)An (a)easement easement appurtenant appurtenant burdens one parcel for the benefit of
another parcel.
13. Which is the best example of rescission of a contract? - (answer)A (a) lease lease that that is is
terminated terminated by by the mutual agreement agreement of both of the parties is lessor an and
example lessee of rescission.
sells a home to B. B takes possession immediately but is slow to record the deed. In the meantime, A
sells the same property to C immediately records the deed (before B). Who has title? - (answer)B; C does
not on the property, is a did not have the right to sell it at that point, even if the deed was not recorded
Which in conference would constitute a lien on a real property? - (answer)Mortgage; of these only a
mortgage results in Aline which is a financial encumbrance
A trade fixture is - (answer)And Adam the leasee is a loud to remove
A world gift of money is a - (answer)Legacy
, Real Estate Law I Final Review Exam (New 2024/ 2025 Update) Introduction to the Incident
Command System | Questions and Verified Answers| Grade A | 100%
Which is a private restriction on the use of real property - (answer)Restrictive covenant's; restrictive
covenant's are private restrictions placed in a deed the other choices aren't governmental restrictions
According to Ohio license law, who does not need to be licensed to sell real estate? - (answer)A salary
employee of ABC Corporation when ABC is selling its own property the salaried employee would be
exempt under these circumstances
A deed is most commonly used legal instrument for the transfer of - (answer)Freehold estate, freehold
estate are typically transferred with a deed
Absent a clause in the sales contract to whom should the sales associate turn over deposit money she
receives - (answer)Her brokerage for deposit in the Brokeridge trust account, money should be given to
the broker to be deposited into the trust account
A special warranty deed is special because it offers - (answer)Limited warranty's
Which statement is true of an easement appurtenant that is not true of an easement in gross -
(answer)There is a dominant tenement
In a court of action for fraud - (answer)There must be Intentional wrongdoing, the victim must have
relied on what he was told, the wrongdoing must be material
Who owns a future interest in real property - (answer)Holder of dower rights, holder of reversionary
interest, remainderman
A 1/3 life estate in a deceased spouses property transferred without consent is - (answer)A life estate
pur autre vie
Command System | Questions and Verified Answers| Grade A | 100%
1 The deed says, I grant this land to B for life, and then to C" Before the death of B, which future interest
does C have? - (answer)In this life estate, has a remainder interest.
2. P wants to extend the side of the house beyond the setback boundary. P must obtain - (answer)d)a
variance.
6. When a broker returns his own broker's license to the Superintendent of the Division of Real Estate so
as to reactivate his salesperson license, the license said to be - (answer)A broker can place a license on
deposit and reactive a sales license.
7. In Ohio, for property to escheat to the state, which must be TRUE? - (answer)When e deceased
person leaves no heirs and does not have a will, the property may escheat to the state
9. Two parcels of land wherein one parcel has the use of another for a specific, limited purpose is called
- (answer)An (a)easement easement appurtenant appurtenant burdens one parcel for the benefit of
another parcel.
13. Which is the best example of rescission of a contract? - (answer)A (a) lease lease that that is is
terminated terminated by by the mutual agreement agreement of both of the parties is lessor an and
example lessee of rescission.
sells a home to B. B takes possession immediately but is slow to record the deed. In the meantime, A
sells the same property to C immediately records the deed (before B). Who has title? - (answer)B; C does
not on the property, is a did not have the right to sell it at that point, even if the deed was not recorded
Which in conference would constitute a lien on a real property? - (answer)Mortgage; of these only a
mortgage results in Aline which is a financial encumbrance
A trade fixture is - (answer)And Adam the leasee is a loud to remove
A world gift of money is a - (answer)Legacy
, Real Estate Law I Final Review Exam (New 2024/ 2025 Update) Introduction to the Incident
Command System | Questions and Verified Answers| Grade A | 100%
Which is a private restriction on the use of real property - (answer)Restrictive covenant's; restrictive
covenant's are private restrictions placed in a deed the other choices aren't governmental restrictions
According to Ohio license law, who does not need to be licensed to sell real estate? - (answer)A salary
employee of ABC Corporation when ABC is selling its own property the salaried employee would be
exempt under these circumstances
A deed is most commonly used legal instrument for the transfer of - (answer)Freehold estate, freehold
estate are typically transferred with a deed
Absent a clause in the sales contract to whom should the sales associate turn over deposit money she
receives - (answer)Her brokerage for deposit in the Brokeridge trust account, money should be given to
the broker to be deposited into the trust account
A special warranty deed is special because it offers - (answer)Limited warranty's
Which statement is true of an easement appurtenant that is not true of an easement in gross -
(answer)There is a dominant tenement
In a court of action for fraud - (answer)There must be Intentional wrongdoing, the victim must have
relied on what he was told, the wrongdoing must be material
Who owns a future interest in real property - (answer)Holder of dower rights, holder of reversionary
interest, remainderman
A 1/3 life estate in a deceased spouses property transferred without consent is - (answer)A life estate
pur autre vie
