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82 Cards in this Set
- Front
- Back
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Jack and Jill have recently been divorced. The decree gave the house to Jill. Since there is no reason for Jack to give any guarantee of title, he will most likely pass his interest in the property with a: A. Special Warranty Deed B. Quit Claim Deed C. General Warranty Deed D. Patent Deed |
B. Quit Claim Deed |
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Which of the following deeds would be most desirable as seen from the perspective of the buyer? A. Special Warranty Deed D. Bargain and Sale Deed |
C. General Warranty Deed |
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When does title actually pass under a deed? A. On the day of the date written on the deed B. On the day the deed is executed or signed C. On the day it is delivered and accepted |
C. On the day it is delivered and accepted |
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A deed that the government uses to transfer government owned property to a private individual is known as a: A. Warranty Deed B. Patent Deed C. Quit Claim Deed D. Federal Land Deed |
B. Patent Deed |
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The most common use of a quit claim deed is to: A. Pass full title with all warranties to the grantee in a quick and timely manner. B. Pass title from the government to a private individual. C. Remove clouds from the title. D. Quit claim to all ownership and all liability for loans and other encumbrances on the title. |
C. Remove clouds from the title. |
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A property is sold at an estate sale and title is passed by the executor to the buyer. The executor’s deed would be most like which of the following? A. Special Warranty Deed B. General Warranty Deed C. Quit Claim Deed D. Patent Deed |
A. Special Warranty Deed |
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Which of the following describes the Covenant of Quiet Enjoyment? A. Freedom from distressing noise from an adjoining property owner. B. The seller must quietly relinquish possession. C. The purchaser shall not be disturbed in the peaceful possession of the property. D. All encumbrances have been recorded. |
C. The purchaser shall not be disturbed in the peaceful possession of the property. |
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What clause means "to have and to hold” or “subject to” and defines the extent of a transfer of real property? A. Escalator clause B. Habendum clause C. Escheat clause D. Notice of Interest clause |
B. Habendum clause |
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Which of the following is NOT necessary to make a deed valid?
B. Property description C. Signature of the grantor D. Delivery of the deed to the grantee |
A. Date of the transfer of ownership |
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Which of the following is NOT a valid means of delivering a deed from the grantor to the grantee? A. The grantor hands the deed to the grantee. B. The grantor tells the grantee that the grantee is to have the property after his death. C. The grantor gives written,notarized instructions to deliver the deed to the grantee after the death of the grantor. D. The grantor records the deed at the county recorder’s office in the name of the grantee. |
B. The grantor tells the grantee that the grantee is to have the property after his death. |
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A handwritten will is:
A. a nuncupative will C. a bequest |
B. a holographic will |
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A person appointed by the court to carry out the terms of a will is called a(n): A. Testator B. Executor or Executrix D. Devisor |
C. Administrator |
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If a person dies intestate, his estate would be distributed according to the law of: A. Holographic B. Devise C. Codicil D. Intestacy or descent |
D. Intestacy or descent |
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Which of the following is NOT a part of the Bundle of Rights? A) Use B) Disposition C) Possession D) Interest |
D) Interest |
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The word or phrase that mostaccurately describes the word"Freehold" is: B. Ownership C. Life Estate D. Pur Autre Vie |
B. Ownership |
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Don Meyers has the legal right to act as though he owns a property for the rest of his life, even though the property is actually owned by his father Ron Meyers. Don is a: A) Holder of a life estate B) Holder of a life estate purautre vie C) Remainderman D) Holder of Rights of Reversion |
A) Holder of a life estate |
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Jason and Harriet Telford bought ahome. The deed named them as grantees, but failed to indicate if they were tenants in common or joint tenants. Later Jason was killed in an accident. His will read that all of his real and personal property was to be divided equally between his children. Harriet claimed that she and Jason were joint tenants and therefore she should get all of the property. It ended up in court.How will the court most likely rule in this case? |
By Utah Law, if the deed is ambiguous, the court will declare it to be joint tenancy between husband and wife. The kids have no claim. |
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When all partners are general partners, the organization is considered to be a:
B) Limited Partnership C) Joint Venture D) Corporation |
A) General Partnership |
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Which of the following is a feature of a corporation? A) Personal assets are protected from law suits brought against the corporation. B) All partners are limited partners. C) Each member has full liability. D) Each owner has full right to make binding decisions on the corporation. |
A) Personal assets are protectedfrom law suits brought againstthe corporation. |
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John and Lucy Mason own their home together. If one of them dies the other will automatically own the property. Therefore they own their property as: B) Owners in Severalty C) Joint Tenants D) Tenants in Community Property |
C) Joint Tenants |
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Kyle and Bob own property as joint tenants. Bob dies. Kyle has Bob's name removed from the ownership. Kyle now: B) Owns the property as a tenant in severalty. C) Has no ownership since his interest was dependent on the life of Bob. D) Bob’s interest in the property will be part of his estate and must go through probate before anyone can own it. |
B) Owns the property as a tenant inseveralty. |
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A little known fact about joint tenancy is that: B) Joint tenants cannot own unequal shares of the property. C) Joint tenancy applies only to husband and wife. D) Joint tenancy avoids probate only if the deceased has no will. |
B) Joint tenants cannot own unequal shares of the property. |
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Which of the following is NOT a test of a fixture? B. The cost of the item C. How the item was attached to the real property D. What was agreed to in the Real Estate Purchase Agreement |
B. The cost of the item |
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Situs refers to which of the following? A) Location B) Fixtures C) Emblements D) Lateral support |
A) Location |
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A display cabinet in a retail store would be considered: A) A trade fixture and real property B) a trade fixture and personal property C) a fixture and real property D) a fixture and personal property |
B) a trade fixture and personal property |
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If an item has been severed from real property, it would NOT be considered which of the following? B) Personalty C) Appurtenant D) Personal Property |
C) Appurtenant |
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When building a retaining wall,which of the following is the owner of the land providing? A) Lateral Support B) Emblement C) Accession D) Severance |
A) Lateral Support |
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"Attached to the land or the deed,"defines: A) Accession B) Appurtenant C) Alienation D) Acceleration |
B) Appurtenant |
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Crops which have been nurtured in the year of the transfer are considered: A) trade fixtures B) appurtenant C) an example of severance D) emblements |
D) emblements |
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Water or mineral rights would beconsidered: A) personal property B) real property C) it depends on how they're used D) they are rights, not a kind of property |
B) real property |
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Which of the following is a true statement about trade fixtures? B) The method of attachment is significant. C) the business owns the property or is renting it is important. D) Only attached items are considered trade fixtures. |
A) Attachment is not an issue one way or the other. |
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Which of the following would be considered chattel? B) Water right C) Tractor D) Barn |
C) Tractor |
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“No two parcels of real property are exactly the same," is the definition of: B) an emblement C) subterranean support D) non-homogeneous |
D) non-homogeneous |
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Which of the following is true? A) A bill of sale transfers ownership to real property only. B) A bill of sale can transfer ownership to real property and/or personal property. C) A deed transfers ownership to real property only. D) A deed typically transfers ownership to real property, but can transfer ownership to personal property if provided for in the Real Estate Purchase Agreement. |
C) A deed transfers ownership to real property only. |
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The process of nature adding to the real property is called: B) Accession C) Severance D) Improvement |
B) Accession |
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A barber's chair in a barber shop would be considered: B) a trade fixture C) emblements D) alluvion |
B) a trade fixture |
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When real property is detached from real property, it is a process called: B) Severance C) Accession D) Appurtenant |
B) Severance |
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When the state is able to take ownership of property because its original owner died and did not leave a will or have any heirs, it is called: B) Inverse condemnation C) Condemnation D) Escheat |
D) Escheat |
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Which of the following requires compensation by the government? A) Escheat B) Police Power C) Eminent Domain D) Zoning |
C) Eminent Domain |
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An owner has three horses. During his ownership the zoning is changed from agricultural to residential and horses are not allowed. This owner is legally able to keep his horses. The right to keep the horses is called a(n): A) Legal conforming use B) Legal non-conforming use C) Variance D) Spot Zoning |
B) Legal non-conforming use |
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When commercial development threatens to move close to a residential area and negatively affect the value of the homes, the planning and zoning commission might create a(n): A) Condemned area B) Variance C) Buffer zone D) Setback line |
C) Buffer zone |
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The main difference between police power and eminent domain is: A) compensation B) disregard for the law C) the creation of a variance D) the buffer zone |
A) compensation |
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When an owner has no way to get to his property, his property is said to be: B) without access in gross C) road rotted D) landlocked |
D) landlocked |
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The Johnson's built a new fence. It was later discovered that the fence was 3 feet onto their neighbor’s property. This is an example ofa(n): B) encroachment C) easement appurtenant D) ingress |
B) encroachment |
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The CC&R's in a subdivision require that the exterior of all homes be brick. When Mr.Kendall was building his home, it became apparent he was going to use aluminum siding. If the others who own homes wanted to stop him, they would go to the courts and obtain a(n): B) encumbrance C) Cease and Desist Order D) There is nothing they can do. |
A) injunction |
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Mr. Little has an easement on Mr.Biggs' property in the form of a right of way. Mr. Little would be considered the: A) dominant tenement B) tenement supreme C) servient tenement D) tenement in gross |
A) dominant tenement |
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School children have been walking across Mr. Walker's vacant lot for 40 years or more. When Mr. Walker begins to build on the lot in such a way that it would block the path of the children, the parents stop him claiming they have an easement by: A) necessity B) implication C) mutual agreement |
D) prescription |
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The largest area of land used in the Rectangular Survey is: A) Acre B) Section C) Township D) Base and Meridian |
C) Township |
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A section contains: A) 640 acres B) 5,280 feet C) 36 square miles D) 43,560 square feet |
A) 640 acres |
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Degrees are used in which of the following? A) Rectangular Survey B) Informal land descriptions C) Metes and Bounds D) Lot, Block, and Plat |
C) Metes and Bounds |
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Sections in a township are numbered from 1-36. Section number 1 would be in the: A) Northwest corner of the township. B) Northeast corner of the township. C) Southwest corner of the township. D) Southeast corner of the township. |
B) Northeast corner of the township. |
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A column of townships running North and South, and counted East and West from the meridian is called a: A) Range B) Acre C) Section D) Tier |
A) Range |
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How many acres are there in the parcel of land described below? The NW 1/4 of the SE 1/4 of the E1/2 of Section 21. A) 1.13 B) 20 C) 165 D) 1,361 |
B) 20 |
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Herbert Landon, a surveyor, was standing in Section 14. Which direction would he go to get to Section 22? A) Northwest B) Northeast C) Southwest D) Southeast |
C) Southwest |
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Howard and Betty Evers listed their home with Mac Miller, a sales agent.This makes Mac's principal broker the: A) selling agent B) listing agent C) selling subagent D) listing subagent |
B) listing agent |
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When a seller’s agent suggests an offer amount that is less than the listed price,the agent might be creating: A) agency by estoppel B) agency by ratification C) agency by implication D) agency by express consent |
C) agency by implication |
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An agent who has authority to perform all lawful acts for a principal is referred to as a(n): A) special agent B) agent by estoppel C) general agent D) universal agent |
D) universal agent |
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When the buyer does NOT enter into a buyer agency agreement with a broker,he is likely in a condition called: A) ratification B) estoppel C) caveat emptor D) lis pendens |
C) caveat emptor |
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When the agent is hired to use his/her expertise to fulfill certain objectives of the principal the agent is a: B. Undisclosed agent C. Universal agent D. General agent |
D. General agent |
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An offer is brought to a seller from a brokerage who did not take the listing. Assuming there is no buyer agency contract, and the MLS listing offered subagency, what are the agency relationships? |
The listing broker is the agent. All others, be they sales agents,associate brokers or principal brokers, are subagents. |
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Under a listing contract, the buyer is considered a: A) principal B) agent C) client D) customer |
D) customer |
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The seller became angry with the listing broker and refused to pay the commission, stating he didn’t like the broker, so she was no longer his agent.The broker sued the seller and the court ruled in favor of the broker. The court ruled that the seller could not deny the fact that the agency was created in the listing. This is agency created by ____________. |
Estoppel |
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A listing broker would be considered which of the following types of agent? A) General B) Specific C) Bilateral D) Universal |
B) Specific |
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A property manager would be considered which of the following types of agent? A) General B) Specific C) Unilateral D) Universal |
A) General |
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Mr. Zephyr employed a broker to make an offer to purchase Mr. Wilson’s home. Mr. Zephyr instructed the broker to keep his (Mr. Zephyr’s) identity concealed.When the broker filled in the buyer’s name on the purchase agreement, he wrote, “Undisclosed principal.” This would make Mr. Zephyr what kind of a principal in this transaction? |
B) Partially disclosed |
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A broker who represents both the buyer and the seller, having fully disclosed his agency to each and obtained written permission from both, becomes a(n): A) agent to the seller and a subagent to the buyer. B) limited agent. C) neutral mediator. D) subagent to both the seller and the buyer. |
B) limited agent. |
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Mr. Zingle listed his property with JaneJacoby, the broker of Jacob and JacobyRealtors®. He instructed Jacoby that he would offer subagency to no one except the agents of Jacob & Jacoby Realtors®. What agency does this create? |
D) Jacoby is the agent, her licensees are subagents; and all others are buyer agents |
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Which of the following most accurately reflects the meaning of "fiduciary?" A. Estoppel B. Bankruptcy C. Trust D. Universal |
C. Trust |
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Which of the following is NOT one of the fiduciary duties required of an agent? B. Disclosure C. Loyalty D. Reasonable care |
A. Informed consent |
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The sellers had entered into an agency contract with a brokerage. Later, they signed consent to limited agency, as their agent was also representing the buyer. What fiduciary benefits are they giving up? B) Confidentiality C) Reasonable care D) Obedience |
A) Loyalty |
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Which of the following best describes a buyer brokerage? A. A company that never practices limited agency. B. A company that doesn’t take listings. C. A company that, in addition to listings, also enters into buyer agency contracts. D. A full service company that represents all types of clients in all types of real estate transactions. |
B. A company that doesn’t take listings. |
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What is the purpose of Section 5 in the REPC? A) Create the formal agency relationship between buyer and agent. B) Create the formal agency relationship with the seller. C) Confirm agency relationships previously created. D) Provide notice of the two brokerages involved in the transaction. |
C) Confirm agency relationships previously created. |
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Under what circumstances could a licensee in Utah use a buyer agency contract other than the one recommended by the UAR (Utah Assoc.of REALTORS®)? A) The attorney of the broker has created a different form for that purpose. B) The broker has created a different form for his/her agents to use. C) The buyers provided a contract they had drafted for this purpose. D) The sellers, at the time of listing,provided a form they wanted their agent to use. |
A) The attorney of the broker has created a different form for that purpose. |
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The compensation plans for Real Estate Agents can vary from company to company. True or False? |
True |
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Specialty Brokerages might be all of the following EXCEPT: A) Property Management Company B) Land Development Company C) Commercial or Residential Leasing Company D) Referral Company |
D) Referral Company |
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Brokers are responsible to insure that their agents record the necessary documents and file them accurately. True or False? |
True |
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Brokerages Policies and Procedures have to be written according to the rules governed by the Utah Association of REALTORS®. True or False? |
False |
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When first discussing agency it is best to verbalize the language from what form? A) The Buyer Broker agreement B) Listing Agreement C) The Agency Open House Disclosure D) The Unrepresented Purchaser |
D) The Unrepresented Purchaser |
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Which of the follow is NOT required of a broker? A) To list the property on the local MLS B) To accept the delivery of an offer C) To assist in the completion of acounter offer D) To verify accuracy of the Closing Disclosure |
A) To list the property on the local MLS |
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Which forms are required when the agent is representing both parties in the transaction? A) Buyer Broker Agreement and Listing Agreement B) Limited Agency Disclosure C) Agency Disclosure D) Listing Agreement, Buyer Broker Agreement and Limited Agency Consent. |
D) Listing Agreement, Buyer Broker Agreement and Limited Agency Consent. |
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What things must an agent do when dealing with offers? A) Develop the offer B) Communicate the offer C) Present the offer D) All of the above |
D) All of the above |
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What year did the State of Utah adopt minimum service requirements? A. 2004 B. 2005 C. 2006 D. 2007 |
B. 2005 |
