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RELegalAspects MC
MC CA Legal Aspects of RE
| Question | Answer |
|---|---|
| What is the significance of the Code of Hammurabi? | It was an early example of codifying laws. |
| Our laws are derived from four main sources: (1) constitutional law, (2) statutory law, (3) administrative law, and (4) common law. Of the twenty-seven amendments to the United States Constitution, how many pertain to real estate? | 6 |
| Which of the following is a federal law affecting the real estate industry? | All of the above |
| Which laws are written rules and regulations adopted by governmental agencies to enable the agencies to carry out regulatory duties? | Administrative laws b. Common laws |
| The two broad categories of law are ________ law and ___________ law. a. administrative / civil | civil / criminal |
| A crime is a violation of the federal or state criminal laws. What is the typical punishment for a crime? | All of the above |
| In the court structure of California, which court is ranked as the highest? | California Supreme Court |
| Of the following, which is a way to settle a dispute? | All of the above |
| Which of the following statements is true regarding Alternative Dispute Resolution (ADR)? | ADR includes arbitration or mediation. |
| Compensating the plaintiff through legal and/or equitable means is called a(n): | remedy. |
| Tom and Sarah have decided to sell their home. Which of the bundle of rights gives them the right to sell their property? | Right to transfer |
| What is the commonality of air rights, surface rights, and subsurface rights? | Land |
| Of the following, which would not be considered permanently attached and therefore is not real property? | A crop of wheat ready to be harvested |
| Which of the following statements is correct when determining whether property is personal or real? | If no agreement exists between the parties, the next step is to look at the method of attachment. |
| Mike leased commercial space from Jim, for his pizza business. Mike bought and attached a restaurant-sized pizza oven. He plans to take it to a new location upon expiration of the lease. What is the status of the oven at the end of the lease? | Since the oven is a trade fixture, Mike may remove it as long as he does not damage the space. |
| What is the commonality of “subterranean”, “percolating”, and “overlying land use” | Groundwater |
| Which doctrine allows landowners overlying percolating groundwater, such as an aquifer, to use the water on an equal basis? | Correlative rights |
| Which of the following is true of a legal description? | All of the above are true about legal descriptions |
| Which of the following would not be a type of legal description? | 1375 Rose Road, Any City, County of Sutton, State of California |
| What type of legal description uses grids to determine the location of a specific tract of land? | Public Land Survey System |
| Real property interests can be categorized in a number of different ways. An estate with indefinite duration is classified as a freehold estate and one with a fixed or determinable duration is classified as a non-freehold estate. Which pair is correct? | Freehold estate – Perpetual estate |
| Which of the following is correct about the real property concept of a leasehold? | A leasehold is not an ownership interest, but it is an estate in land. |
| Of the four types of leasehold estates, which one indicates that the tenant is considered a holdover tenant? | Tenancy at sufferance |
| As defined most broadly, a lien is: | a financial interest in the real property of another. |
| What is the commonality of trustor, trustee, and beneficiary? | Voluntary lien |
| In California, ad valorem taxes differ from special assessments in which of the following ways? | Ad valorem taxes are a percentage of the fair market value of real property based on its most recent sale or improvement and are collected annually. |
| An easement appurtenant differs from an easement in gross in that: | with an easement in gross, there is a servient tenement, but no dominant tenement. |
| The right to enter another’s land to harvest timber is known as: | profit-à-prendre |
| Which of the following could lead to loss of title, if not satisfied? | Condition |
| Which of the following is protected by an automatic homestead exemption, but not by a declared homestead? | Mobile home on leased land |
| Which power of government is the basis for county and city zoning regulations and building codes? | Police power |
| In the Euclid v. Ambler Realty Co. decision, the U.S. Supreme Court: | found that zoning was a valid exercise of the police power. |
| Which of the following is true regarding zoning? | A zoning ordinance divides a city or county into different geographic zones. |
| Jeff wants 2 open a restaurnt but his parcel states that the allowd uses are single-family res, cemeters, police and fire statns, religious assem. & duplexs. The conditionl uses are aprtmnt houses, medclinics, parks, schls, bus off, & mobhome parks.Jeff: | cannot open a restaurant on this parcel unless he gets it re-zoned. |
| Kat farmd on her property 4 mor than 20yrs. Bcuz of the encroachment of new, smlr lots, the Cnty chngd the zonin . The new zonin wont allow farmin operatns, but has a clause that existin farmin operations can cont.4 10yrs. The cnty’s action is: | lawful without the payment of any monetary compensation. |
| The commonality of tentative, final, and parcel is that they are types of: | maps in the Subdivision Map Act. |
| Which of the following subdivisions would be regulated by the Subdivided Lands Law? | Subdivision with 5 or more new parcels |
| Which type of “taking” is referred to as a Lucas Wipeout? | Regulatory taking |
| A categorical exemption under CEQA: | is a provision entitling a project to an exemption by law at an early stage in the environmental review process. |
| A real estate developer is planning to build luxury condominiums next to a natural lake. Which law requires the developer to prepare an environmental impact report? | California Environmental Quality Act |
Created by:
julietmongia