CT REAL ESTATE PRACTICE AND LAW WELL
STUDIED EXAM WITH CORRECT QUESTIONS AND
ACTUAL ANSWERS GRADED A+
Ct recognizes these listing agreements - ANSWERS-Exclusive right to
sell, exclusive agency, open listing
Time required for acquisition of prescription easements is - ANSWERS-15
years
Under CT law, real estate brokers are required to retain certain brokerage
records such as offers, counteroffers drafted in brokers office, contracts,
leases, agency Agreements and disclosures, escrow and trust account
checks and Bank statements. These records must be kept - ANSWERS-7
years
An easement by prescription may be extinguished if the owner takes,
obtains, or regains an open and continuous control and possession of the
property for - ANSWERS-15 years
The Connecticut Department of consumer protection requires that land
surveyors - ANSWERS-Be licensed by the Department of consumer
protection, division of land surveyors and professional engineers
Resale documents must be furnished to the buyer or his or her attorney
before the closing or transfer of possession. The buyers right to cancel the
purchase contract is how many days after the resale documents have been
hand-delivered? - ANSWERS-5 business days, 7 for certified mail
The common interest ownership act regulates common interest properties.
Which best describes the properties governed by this act? - ANSWERS-
PUD (planned unit developments) condominiums and cooperatives
,Questions about boundaries in Connecticut are resolved by - ANSWERS-
The superior Court, a committee, and possibly a land surveyor
Legal descriptions of property in Connecticut predominantly follow the -
ANSWERS-Metes-and-bounds method
In cases of involuntary partition the owners are advised to - ANSWERS-
Petition the Superior Court for equitable relief
Sellers can obtain condominium resale disclosure documents from -
ANSWERS-Association
A couple were married on July 4, 2007. Both individually owned a
condominium prior to their marriage in their own name. They decided to
keep the condominium unit separate. Once they are married in
Connecticut, their former properties will will - ANSWERS-Remain
separate interests
If there is a physical division of co-owned real estate, committees are
appointed by the courts, partitions cannot always be fair and equitable -
ANSWERS-Involuntary partition action
When a unit owner request a resale certificate from the association in
writing, it must be provided within how many business days, and what kind
association charge for the resale certificate? - ANSWERS-10 days $125
plus 5 cents per page
Connecticut license laws provide that licensed brokers may not accept a
listing that is based on a - ANSWERS-Net price
Under Connecticut licensing laws, brokers and agents have to disclose a
present or contemplated interest in a property listed with them if they are -
ANSWERS-Contemplating purchasing the property
Sharon buyer called agent Michael to view his listing on Monroe Street.
Sharon does not have an agent. Michael provides a written agency
, disclosure notice to Sharon stating that he represents the seller. -
ANSWERS-Agency agreement not required
A buyer finds and purchases a for sale by owner home. A broker states
entitlement to a brokerage fee. For this to be the case, the buyer would
have entered into which type of buyer broker agreement with the broker? -
ANSWERS-Exclusive agency right to represent the buyer
Give buyer info on licensees firm, provide buyer info on mortgage rates and
lending institutions, show buyer in house listings - ANSWERS-Without a
written buyer agency agreement
The Connecticut common interest ownership act dictates that legally
sufficient description of a common interest ownership unit must contain all
of the following - ANSWERS-Recording date, name of community, unit
number
Real property taxes are ad valorem (based on value) Taxes levied by -
ANSWERS-Local municipalities
Connecticut requires the values placed on all properties be based on their -
ANSWERS-Market value
Connecticut law requires towns to revalue properties every___ Years by
physical observation or statistical analysis. Physical inspection is required
every___ years - ANSWERS-5, 10
Taxes are a lien on the property - ANSWERS-From the date of
assessment
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. - ANSWERS-15
State conveyance taxes and municipal conveyance taxes are -
ANSWERS-Based on a percentage of the selling price
STUDIED EXAM WITH CORRECT QUESTIONS AND
ACTUAL ANSWERS GRADED A+
Ct recognizes these listing agreements - ANSWERS-Exclusive right to
sell, exclusive agency, open listing
Time required for acquisition of prescription easements is - ANSWERS-15
years
Under CT law, real estate brokers are required to retain certain brokerage
records such as offers, counteroffers drafted in brokers office, contracts,
leases, agency Agreements and disclosures, escrow and trust account
checks and Bank statements. These records must be kept - ANSWERS-7
years
An easement by prescription may be extinguished if the owner takes,
obtains, or regains an open and continuous control and possession of the
property for - ANSWERS-15 years
The Connecticut Department of consumer protection requires that land
surveyors - ANSWERS-Be licensed by the Department of consumer
protection, division of land surveyors and professional engineers
Resale documents must be furnished to the buyer or his or her attorney
before the closing or transfer of possession. The buyers right to cancel the
purchase contract is how many days after the resale documents have been
hand-delivered? - ANSWERS-5 business days, 7 for certified mail
The common interest ownership act regulates common interest properties.
Which best describes the properties governed by this act? - ANSWERS-
PUD (planned unit developments) condominiums and cooperatives
,Questions about boundaries in Connecticut are resolved by - ANSWERS-
The superior Court, a committee, and possibly a land surveyor
Legal descriptions of property in Connecticut predominantly follow the -
ANSWERS-Metes-and-bounds method
In cases of involuntary partition the owners are advised to - ANSWERS-
Petition the Superior Court for equitable relief
Sellers can obtain condominium resale disclosure documents from -
ANSWERS-Association
A couple were married on July 4, 2007. Both individually owned a
condominium prior to their marriage in their own name. They decided to
keep the condominium unit separate. Once they are married in
Connecticut, their former properties will will - ANSWERS-Remain
separate interests
If there is a physical division of co-owned real estate, committees are
appointed by the courts, partitions cannot always be fair and equitable -
ANSWERS-Involuntary partition action
When a unit owner request a resale certificate from the association in
writing, it must be provided within how many business days, and what kind
association charge for the resale certificate? - ANSWERS-10 days $125
plus 5 cents per page
Connecticut license laws provide that licensed brokers may not accept a
listing that is based on a - ANSWERS-Net price
Under Connecticut licensing laws, brokers and agents have to disclose a
present or contemplated interest in a property listed with them if they are -
ANSWERS-Contemplating purchasing the property
Sharon buyer called agent Michael to view his listing on Monroe Street.
Sharon does not have an agent. Michael provides a written agency
, disclosure notice to Sharon stating that he represents the seller. -
ANSWERS-Agency agreement not required
A buyer finds and purchases a for sale by owner home. A broker states
entitlement to a brokerage fee. For this to be the case, the buyer would
have entered into which type of buyer broker agreement with the broker? -
ANSWERS-Exclusive agency right to represent the buyer
Give buyer info on licensees firm, provide buyer info on mortgage rates and
lending institutions, show buyer in house listings - ANSWERS-Without a
written buyer agency agreement
The Connecticut common interest ownership act dictates that legally
sufficient description of a common interest ownership unit must contain all
of the following - ANSWERS-Recording date, name of community, unit
number
Real property taxes are ad valorem (based on value) Taxes levied by -
ANSWERS-Local municipalities
Connecticut requires the values placed on all properties be based on their -
ANSWERS-Market value
Connecticut law requires towns to revalue properties every___ Years by
physical observation or statistical analysis. Physical inspection is required
every___ years - ANSWERS-5, 10
Taxes are a lien on the property - ANSWERS-From the date of
assessment
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. - ANSWERS-15
State conveyance taxes and municipal conveyance taxes are -
ANSWERS-Based on a percentage of the selling price
