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14 Cards in this Set
- Front
- Back
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The statute of frauds requires that contracts for the sake of real estate must: A. Be recorded B. Be in writing C. Be bilateral contracts D. Have a cash deposit |
B. Be in writing |
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When purchasing a property, the amount of the buyers earnest money deposit is determined by: A. State law based on the purchase price of the peppery B. Local custom and location of the property C. Agreement between the buyer and the broker D. Agreement between the buyer and the seller |
D. Agreement between the buyer and the seller |
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What is the status of a contract during the period of time after a real estate sales contract is signed by both parties but before title actually passes? The contract is:
A. Unilateral B. Voidable C. Executory D. Interim |
C. Executory |
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An agreement not to close an offer is known as an:
A. Novation B. Option C. Rescission D. Subrogation |
B. Option |
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Seller Pat gives an option to buyer Jordan to purchase Pat's ranch. This option most clearly constitutes a(n):
A. Voluntary lien on Pat's ranch B. Offer to the enter into a contract C. Fiduciary agreement D. Contract to keep an offer open |
D. Contract to keep an offer open |
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As used in real estate law, the term tenancy is best described as: A. The landlord-tenant relationship B. Retention of rights as a remainder man C. A tenant in a lease agreement D. A mode or method of holding title to real property by a lesser or an owner |
D. A mode or method of holding title to real property by a lesser or an owner |
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Under a lease for an unfurnished apartment, the lessor may require a security deposit of no more than:
A. $500 B. One months rent C. Two months rent D. Three months rent |
C. Two months rent |
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If an owner grants possession of real property to another person for less than the owner's interest, it is known as:
A. A subordinated lease B. An uninsured lease C. A lease D. A sale-leaseback |
C. A lease |
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The maximum amount of security deposit a landlord may demand from a prospective tenant depends upon the: A. Total number of tenants who plan to occupy the premises B. Number of children occupying the unit C. Term of the lease and whether the unit is furnished or unfurnished D. Economic competition from nearby properties |
C. Term of the lease and whether the unit is furnished or unfurnished |
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The right of quiet enjoyment most often means:
A. Freedom from annoyance from noisy neighbors B. Lack of interference from the paramount title holder C. Lack of interference from adjoining owners D. None of the above |
B. Lack of interference from the paramount title holder |
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If real property is subleased, the interest held by the sublessor is commonly known as an:
A. Double lease B. Freehold estate C. Assignment lease D. Sandwich lease |
D. Sandwich lease |
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An unlawful detainer proceeding is most often taken by an A. Beneficiary B. Trustee C. Lessor D. Grantee |
C. Lessor |
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If a tenant refuses to pay rent due according to terms of a written lease, the landlord may have the tenant evicted by:
A. Serving a 30 day notice B. Posting a three-day notice to quit or pay rent allowing three days to pass C. Pursuing an action in court D. Filing a Notice of Default |
C. Pursuing an action in court |
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A prospective buyer made an offer and gave the seller's broker a $500 check as a deposit for the sale of a residence. Before the offer was given to the seller, the buyer contacted the broker and withdrew the offer. What should the broker do with the $500 check?
A. Deposit it in escrow B. Return it immediately C. Hold it until the seller is notified D. Keep it to be reimbursed for out of pocket expenses |
Return it immediately |
