AYPO FINAL 2ND ATTEMPT TEST QUESTIONS AND
ANSWERS
Vince purchases several acres to construct a neighbourhood. Which technique
does he eventually use to divide the land into smaller pieces? ANSWER Block
and Lot
What must a CC&R be to be valid for longer than a year? ANSWER Written
down
Do local governments not have to pay property taxes? ANSWER: In agreement
No legitimate will or heirs could be found after the owner's death. Which course
of action is most likely to enable the city to seize the properties? ANSWER
Escheat
Do appraisal reports typically address the possibility of encroachment on nearby
properties? ANSWER No.
Can a text message be interpreted as a legally binding contract? ANSWER: In
agreement
Ten days before to closing, Conor listed a house for a seller who chose to
remove it from the market after an offer was accepted. What are Conor's options
for getting his commission? ANSWER His principal broker, Caroline, needs to
take the seller to court.
What is the term for a lease of undeveloped land where the tenant is allowed to
build but is liable for all additional expenses? REPLY Ground Lease
Can a building's owner forbid the installation of a wheelchair ramp for people
with disabilities? ANSWER No, unless the price is unaffordable.
Under the Special Warranty Deed-ANSWER Only, the buyer can hold the seller
accountable for damages resulting from clouds that were imposed or formed on
the property while she was the owner.
ANSWERS
Vince purchases several acres to construct a neighbourhood. Which technique
does he eventually use to divide the land into smaller pieces? ANSWER Block
and Lot
What must a CC&R be to be valid for longer than a year? ANSWER Written
down
Do local governments not have to pay property taxes? ANSWER: In agreement
No legitimate will or heirs could be found after the owner's death. Which course
of action is most likely to enable the city to seize the properties? ANSWER
Escheat
Do appraisal reports typically address the possibility of encroachment on nearby
properties? ANSWER No.
Can a text message be interpreted as a legally binding contract? ANSWER: In
agreement
Ten days before to closing, Conor listed a house for a seller who chose to
remove it from the market after an offer was accepted. What are Conor's options
for getting his commission? ANSWER His principal broker, Caroline, needs to
take the seller to court.
What is the term for a lease of undeveloped land where the tenant is allowed to
build but is liable for all additional expenses? REPLY Ground Lease
Can a building's owner forbid the installation of a wheelchair ramp for people
with disabilities? ANSWER No, unless the price is unaffordable.
Under the Special Warranty Deed-ANSWER Only, the buyer can hold the seller
accountable for damages resulting from clouds that were imposed or formed on
the property while she was the owner.
