What is the basic purpose of acknowledgment…

Xaamirr1
                What is the basic purpose of acknowledgment…

 

 

 

 

 

 

 

 

What is the basic purpose of acknowledgment before a notary public in signing a deed?

Question 21 options:

 

a) 

To make the deed eligible for recording

 

b) 

To assure that the title is valid

 

c) 

To show the genuineness of the grantor’s signature

 

d) 

To prove that the property has not been encumbered

 

Question 22 (1 point)

 

 

 

 

 

 

 

 

 

Which of the following are legitimate methods for creating easements?

Question 22 options:

 

a) 

Express grant

 

b) 

Implied grant

 

c) 

Express reservation

 

d) 

All of the above

 

Question 23 (1 point)

 

 

 

 

 

 

 

 

 

Which of the following documents is signed by the owner of the real estate?

Question 23 options:

 

a) 

A gift deed

 

b) 

A trustee’s deed

 

c) 

A reconveyance deed

 

d) 

A tax deed

 

Question 24 (1 point)

 

 

 

 

 

 

 

 

 

Which of the following notions best explains the continued existence of the real estate brokerage industry?

Question 24 options:

 

a) 

Complexity, size, and long-term nature of transactions

 

b) 

Frequency and ease of sales of individual properties

 

c) 

Common public knowledge of markets and law

 

d) 

Need for standardization of commissions

 

Question 25 (1 point)

 

 

 

 

 

 

 

 

 

The listing agreement defines the relationship between ___.

Question 25 options:

 

a) 

the property owner and the buyer

 

b) 

the real estate broker and the buyer

 

c) 

the real estate broker and the sales associate

 

d) 

the property owner and the real estate broker

 

Question 26 (1 point)

 

 

 

 

 

 

 

 

 

The primary purpose of a listing agreement is to define the relationship between ___.

Question 26 options:

 

a) 

the property owner and potential buyers

 

b) 

the real estate broker and potential buyers

 

c) 

the real estate broker and sales associates and broker associates

 

d) 

the property owner and the real estate broker

 

Question 27 (1 point)

 

 

 

 

 

 

 

 

 

The law that requires real estate contracts to be in writing to be enforceable is the ___.

Question 27 options:

 

a) 

law of descent and distribution

 

b) 

statute of frauds.

 

c) 

parole evidence rule

 

d) 

statute of limitations

 

Question 28 (1 point)

 

 

 

 

 

 

 

 

 

The most widely employed method of regulating the use of land is ___.

Question 28 options:

 

a) 

subdivision regulation

 

b) 

site-plan review

 

c) 

zoning

 

d) 

building codes

 

Question 29 (1 point)

 

 

 

 

 

 

 

 

 

The mortgage document used as an encumbrance on an owner’s title is an example of a ___.

Question 29 options:

 

a) 

special lien

 

b) 

broad lien

 

c) 

general lien

 

d) 

judgment lien

 

Question 30 (1 point)

 

 

 

 

 

 

 

 

 

Intensity of use is also known as ___.

Question 30 options:

 

a) 

economic density

 

b) 

developmental density

 

c) 

financial density

 

d) 

urban density

 

Question 31 (1 point)

 

 

 

 

 

 

 

 

 

The most common type of listing agreement used today is the ______.

Question 31 options:

 

a) 

open listing

 

b) 

exclusive right-to-sell listing

 

c) 

net listing

 

d) 

exclusive-agency listing

 

Question 32 (1 point)

 

 

 

 

 

 

 

 

 

In order for a deed to be valid ___.

Question 32 options:

 

a) 

the grantor must be legally competent

 

b) 

the signature of the grantor must be witnessed

 

c) 

the deed must be recorded

 

d) 

the grantee must sign the deed

 

Question 33 (1 point)

 

 

 

 

 

 

 

 

 

A multiple listing contract clause is most often used in conjunction with a(n) ___.

Question 33 options:

 

a) 

open listing

 

b) 

exclusive right-to-sell listing

 

c) 

by-owner listing

 

d) 

exclusive agency listing

 

Question 34 (1 point)

 

 

 

 

 

 

 

 

 

To claim a property under adverse possession, which is not a requirement under the law?

Question 34 options:

 

a) 

The claim must be continuous.

 

b) 

One possessor must hold the claim for the entire statutory period.

 

c) 

The possession must be actual and exclusive, that is, in the manner of a reasonable owner.

 

d) 

The claim must be open and notorious.

 

Question 35 (1 point)

 

 

 

 

 

 

 

 

 

The owner of the property being encroached upon has the right to force the removal of the encroachment, but if that owner fails to force removal, the other party may claim the legal right to continue encroaching by ___.

Question 35 options:

 

a) 

adverse possession

 

b) 

eminent domain

 

c) 

condemnation

 

d) 

license

 

Question 36 (1 point)

 

 

 

 

 

 

 

 

 

Pierre owns a one-quarter undivided interest in a parcel of land, and he wants his       interest transferred to his sister Estelle. As a general rule, which of the following actions will transfer Pierre’s undivided interest out of his name?

Question 36 options:

 

a) 

Redemption from foreclosure sale

 

b) 

Making and signing a will

 

c) 

Delivery of a deed

 

d) 

Signed acceptance of offer to purchase

 

Question 37 (1 point)

 

 

 

 

 

 

 

 

 

Which of the following represent some of the powers governments have over private property?

Question 37 options:

 

a) 

Taxation, eminent domain, and police powers

 

b) 

Powers of attorney, eminent domain, and police powers

 

c) 

Powers of eminent domain, denial, and estoppel

 

d) 

Powers of police, refusal, and denial

 

Question 38 (1 point)

 

 

 

 

 

 

 

 

 

When a prospective buyer makes a written purchase offer that the seller ___.
accepts, then the ___.

Question 38 options:

 

a) 

buyer may take possession of the real estate

 

b) 

seller grants the buyer possessory rights

 

c) 

buyer receives legal title to the property

 

d) 

buyer receives equitable title to the property

 

Question 39 (1 point)

 

 

 

 

 

 

 

 

 

In which of the following situations could a quitclaim deed NOT be used?

Question 39 options:

 

a) 

To convey title

 

b) 

To release a nominal real estate interest

 

c) 

To remove a cloud on title

 

d) 

To warrant that a title is valid

 

Question 40 (1 point)

 

 

 

 

 

 

 

 

 

At the time a buyer was negotiating the purchase of a lot on which to build a
new home, the seller represented that the soil was firm enough to support the
construction of a building when, in fact, the seller knew it was not. This
contract is ___.

Question 40 options:

 

a) 

void

 

b) 

voidable by the buyer because of fraud

 

c) 

voidable by the seller because of the mistake

 

d) 

voidable by neither party because no harm was done yet.