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Examen
Legal Aspects of Real Estate Ch. 13 Fair Housing Laws UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal Aspects of Real Estate Ch. 13 Fair Housing Laws UPDATED ACTUAL Exam Questions and CORRECT Answers What Act prohibits lenders from discriminating against applicants on the basis of race, color, religion, national origin, sex, marital status, age or dependency on public assistance? - CORRECT ANSWER - The Equal Credit Opportunity Act How long does a lender have to inform an applicant that he or she was rejected for a home loan? - CORRECT ANSWER - 30 days What is defined ...
STANFORDGRADESS
Examen
Chapter 7 Legal Aspects of Real Estate UPDATED ACTUAL Exam Questions and CORRECT Answers
Chapter 7 Legal Aspects of Real Estate UPDATED ACTUAL Exam Questions and CORRECT Answers Contract - CORRECT ANSWER - An agreement to do or not to do a certain thing. It must have four essential elements: parties capable of contracting, consent of the parties, a lawful object, and consideration. A contract for sale of real property must also be in writing and signed by the party or parties to be charged with performance. Express Contract - CORRECT ANSWER spoken or written....
STANFORDGRADESS
Examen
Legal aspects of Real estate chapter 7 UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal aspects of Real estate chapter 7 UPDATED ACTUAL Exam Questions and CORRECT Answers What agreement authorizes a broker to represent an owner or landlord? - CORRECT ANSWER - An owner listing An agent who ultimately caused a buyer to purchase a home and earned the commission is called - CORRECT ANSWER - the procuring cause agent
STANFORDGRADESS
Examen
Legal aspects of Real estate chapter 8 UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal aspects of Real estate chapter 8 UPDATED ACTUAL Exam Questions and CORRECT Answers What paragraph in a CAR Residential Purchase Agreement has five sections that outline the joint instructions of the buyer and seller to the escrow holder and defines the roles of the parties in the transaction? Joint Escrow Instructions to Escrow Holder Prorations of Property Taxes and Other Items Brokers Representative Capacity - CORRECT ANSWER Holder - Joint Escrow Instructions to ...
STANFORDGRADESS
Examen
Legal Aspects of Real Estate Ch 9 Quiz UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal Aspects of Real Estate Ch 9 Quiz UPDATED ACTUAL Exam Questions and CORRECT Answers What must a seller listing agent complete yet there's an actual knowledge of a property being in a natural hazards zone - CORRECT ANSWER - A natural hazards disclosure statement What percentage of the gross sales priced must eBay or withhold and send to the Iris at the seller of real property is a foreign person - CORRECT ANSWER - 15% What is a map, drawn to scale, of the division of...
STANFORDGRADESS
Examen
Legal Aspects of Real Estate Chapter 10 UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal Aspects of Real Estate Chapter 10 UPDATED ACTUAL Exam Questions and CORRECT Answers For how long can a California income tax lien be in force? A maximum of 10 years A maximum of 30 years A maximum of 20 years A maximum of 5 years - CORRECT ANSWER - A maximum of 30 years What type of lien secures a purchase money mortgage, a seller's loan to a buyer to finance the
STANFORDGRADESS
Examen
CA legal aspects of Real Estate: Chapter 10 UPDATED ACTUAL Exam Questions and CORRECT Answers
CA legal aspects of Real Estate: Chapter 10 UPDATED ACTUAL Exam Questions and CORRECT Answers encumbrance - CORRECT ANSWER - is the term used to describe an interest in and right to real property that limits the legal owner's freehold interest. In effect, an encumbrance is another's right to use or take possession of a legal owner's property, or to prevent the legal owner from enjoying the full bundle of rights in the estate.Easements and liens are the most common typ...
STANFORDGRADESS
Examen
Legal aspects of real estate chapter 10 UPDATED Exam Questions and CORRECT Answers
Legal aspects of real estate chapter 10 UPDATED Exam Questions and CORRECT Answers A lien is put on a property by - CORRECT ANSWER - creditors What type of superior lien does local government entities place against certain properties to ensure payment for local improvement projects such as new roads, schools, sewers or libraries? - CORRECT ANSWER - Special assessment lien Which of the following is NOT a superior lien? - CORRECT ANSWER tax - federal incom
STANFORDGRADESS
Examen
Legal Aspects of Real Estate Chapter 11 UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal Aspects of Real Estate Chapter 11 UPDATED ACTUAL Exam Questions and CORRECT Answers What conveys title rights in a property over to an assigned trustee? A right of assignment A subordination clause A deed of trust A release of deed - CORRECT ANSWER - A deed of trust What was passed by Congress in 1977 to prevent redlining and to encourage banks and thrifts to help meet the credit needs of all segments of their communities, including low-and moderate
STANFORDGRADESS
Examen
Legal Aspects of Real Estate Chapter 14 UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal Aspects of Real Estate Chapter 14 UPDATED ACTUAL Exam Questions and CORRECT Answers What lease clause talks about the landlord leasing the property and the tenant taking possession of the property? Capacity to contract Rent Demising clause Description - CORRECT ANSWER - Demising clause What type of lease conveys a leasehold interest to an owner of a cooperative
STANFORDGRADESS
Examen
CA legal aspects of Real Estate: Chapter 7 UPDATED ACTUAL Exam Questions and CORRECT Answers
CA legal aspects of Real Estate: Chapter 7 UPDATED ACTUAL Exam Questions and CORRECT Answers Section 3508 of the IRS code - CORRECT ANSWER - •allows real estate agents to be classified as independent contractors under a supervising broker. In order to qualify as an independent contractor, the IRS requires what's called the safe harbor test to establish that a person is truly acting as an independent contractor and not an employee. The three conditions of the safe harbor t...
STANFORDGRADESS
Examen
California Legal Aspects of Real Estate Chapter 14 UPDATED ACTUAL Exam Questions and CORRECT Answers
California Legal Aspects of Real Estate Chapter 14 UPDATED ACTUAL Exam Questions and CORRECT Answers This is a federal law that prohibits all discrimination on the basis of race only...? - CORRECT ANSWER - Civil Rights Act of 1866 This is a federal prohibition on discrimination in sale, rental, financing, or appraisal of housing on the basis of race, color, religion, gender, national origin,
STANFORDGRADESS
Examen
Legal Aspects of Real Estate Final easy2pass UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal Aspects of Real Estate Final easy2pass UPDATED ACTUAL Exam Questions and CORRECT Answers Under the common law, legal disputes were decided ________before a judge - CORRECT ANSWER - On a case by case basis Is the right of the government to take private property for public use. - CORRECT ANSWER - Eminent domain The use of property includes the right to: - CORRECT ANSWER encumber - Occupy, sell, dispute,
STANFORDGRADESS
Examen
Legal Aspects of Real Estate - Final Exam UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal Aspects of Real Estate - Final Exam UPDATED ACTUAL Exam Questions and CORRECT Answers Lien - CORRECT ANSWER - A claim against another's property securing either payment of a debt or fulfillment of some other monetary exchange Mechanic's Lien - CORRECT ANSWER - The right of one who renders services or supplies materials in connection with the improvement of real property to seek a judicial sale of the realty to satisfy unpaid claims Judgment Lien - CORRECT ANSW...
STANFORDGRADESS
Examen
Legal Aspects of Real Estate Quizzes UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal Aspects of Real Estate Quizzes UPDATED ACTUAL Exam Questions and CORRECT Answers In most cases, a decision rendered in an arbitration proceeding is binding upon the parties. True or False - CORRECT ANSWER - True Arbitration is an alternative dispute resolution process in which an impartial third party hears the positions of the parties to a dispute and renders a decision. In most cases, the decision is binding. California's community property law originated with Spani...
STANFORDGRADESS
Examen
Legal Aspects of Real Estate Quizzes UPDATED Exam Questions and CORRECT Answers
Legal Aspects of Real Estate Quizzes UPDATED Exam Questions and CORRECT Answers Discrimination in the purchasing or renting of real estate is regulated by __________ law. probate fair housing antitrust agency - CORRECT ANSWER - fair housing The __________ administers the Real Estate Law in California.
STANFORDGRADESS
Examen
Legal Aspects Questions #12 UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal Aspects Questions #12 UPDATED ACTUAL Exam Questions and CORRECT Answers Which correctly matches the boundary with its boundary line A. Road/center of the road B. Non-navigable river/center of the river C. Navigable river/average low-water mark D. All of the above are correctly matched - CORRECT ANSWER are correctly matched When a tree trunk is on the boundary line A. Both owners must agree to its removal B. It belongs to both owners C. Either owner can trim bra...
STANFORDGRADESS
Examen
Legal Aspects Questions #10 UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal Aspects Questions #10 UPDATED ACTUAL Exam Questions and CORRECT Answers To be a negotiable instrument, a note or draft need NOT be A. A sum certain B. Signed by the payee C. An unconditional promise or order D. In writing - CORRECT ANSWER - B. signed by the payee
STANFORDGRADESS
Examen
Legal Aspects Questions #3 UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal Aspects Questions #3 UPDATED ACTUAL Exam Questions and CORRECT Answers Ethics would be best described as A. Obeying the law B. Doing what is right C. An agency duty D. Treating all people the same - CORRECT ANSWER (The Golden Rule) - B. Doing what is righ
STANFORDGRADESS
Examen
Legal Aspects Questions #11 UPDATED ACTUAL Exam Questions and CORRECT Answers
Legal Aspects Questions #11 UPDATED ACTUAL Exam Questions and CORRECT Answers Involuntary liens include all EXCEPT A. Judgment liens B. Tax liens C. Special assessment lien D mechanic's lien - CORRECT ANSWER Which is NOT a specific lien A. Property tax lien B. Judgment lien C. Special assessment lien D. Mechanic's lien - CORRECT ANSWER - B. Judgment lien
STANFORDGRADESS