Real Estate Law Final UPDATED
ACTUAL Questions and CORRECT
Answers
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? - CORRECT 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 -
CORRECT 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 - CORRECT
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? - CORRECT
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 - CORRECT 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? - CORRECT 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? - CORRECT 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? - CORRECT ANSWER -
Mortgage; of these only a mortgage results in Aline which is a financial encumbrance
A trade fixture is - CORRECT ANSWER -And Adam the leasee is a loud to remove
A world gift of money is a - CORRECT ANSWER -Legacy
Which is a private restriction on the use of real property - CORRECT 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? - CORRECT
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 - CORRECT
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 - CORRECT 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 - CORRECT ANSWER -Limited
warranty's
Which statement is true of an easement appurtenant that is not true of an easement in gross -
CORRECT ANSWER -There is a dominant tenement
In a court of action for fraud - CORRECT ANSWER -There must be Intentional
wrongdoing, the victim must have relied on what he was told, the wrongdoing must be material
ACTUAL Questions and CORRECT
Answers
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? - CORRECT 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 -
CORRECT 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 - CORRECT
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? - CORRECT
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 - CORRECT 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? - CORRECT 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? - CORRECT 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? - CORRECT ANSWER -
Mortgage; of these only a mortgage results in Aline which is a financial encumbrance
A trade fixture is - CORRECT ANSWER -And Adam the leasee is a loud to remove
A world gift of money is a - CORRECT ANSWER -Legacy
Which is a private restriction on the use of real property - CORRECT 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? - CORRECT
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 - CORRECT
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 - CORRECT 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 - CORRECT ANSWER -Limited
warranty's
Which statement is true of an easement appurtenant that is not true of an easement in gross -
CORRECT ANSWER -There is a dominant tenement
In a court of action for fraud - CORRECT ANSWER -There must be Intentional
wrongdoing, the victim must have relied on what he was told, the wrongdoing must be material
