Real Estate Review

A type of development where density requirements apply to the project, rather than each lot

An easement created by hostile use

A leasehold estate that has a definite beginning and ending, cannot be renewed and requires no notice to terminate

A city’s document that determines future growth

A lease whereby the lessor agrees to pay the taxes, insurance and maintenance costs

The document in a home loan that includes the written promise to pay and shows all loan terms

Only husbands and wives are involved in

A listing where the broker’s commission would be any sale price in excess of a specified amount

A lien related to pending litigation

Funds deposited with an offer to demonstrate serious intent to purchase

If an owner is exempt from Fair Housing Laws, he must comply with which of the following

Deliberate deceit to gain an advantage

What is the effect on the original offer if a counteroffer is made

Which of the following is a contract in which promises have been made but not yet completed

The illegal practice of showing homes to prospective buyers in neighborhoods mostly with their ethnic/racial group

A document which shows the exact amount of debt owed by the debtor

Which of the following is NOT a requirement for a valid deed

A type of easement that runs with the land

State laws that prescribe time limits on legal actions

A listing whereby the broker gets paid regardless of who finds the buyer

An agreement not to compete in a particular area

A lien that applies to all of one's real and personal property is a

What type of lien always takes the first priority if a forced sale occurs

Mr. J, agent for Mr. E's property, receives three offers before the 6p meeting scheduled with Mr. E. What must Mr. J do?

A term of a contract or deed which is enforced only by lawsuit

Illegal practice of convincing people to sell property because racial characteristics of the neighborhood are changing

The increase in value that results from assembling small parcels into one larger one

A person who represents someone else in many transactions within one general field

Law which states which contracts must be in writing

The document used to return legal title to a trustor when a trust deed loan is repaid

Barbecue, grills, lawn movers, and tractors are examples of

An agent of an agent

A contract that has all of the essential elements

The owner of an individual unit in a cooperative apartment complex is the

A person hired to do a job and who has withholding taken out of his or her payment

A burden or problem with title to a property

A lien that always has first priority

Which of the following is NOT an option to the buyer if the seller defaults in a contract

A protected class under the Fair Housing Act which involves custody of minor children or prospective custody

A right to use another’s property without ownership

The illegal practice of mixing escrow money with personal or business funds

The use of force or threatened force

An offer can be withdrawn by the offeror

An irrevocable right to use the property of another which carries no possessory interest is known as a(an)

Which of the following would NOT qualify as a protected class because of a disability

The best definition of real estate would include: the land, the improvements of and to the land, and all

A new contract which replaces an old one

A person in a position of trust for someone else

The power of government to take property when needed for public use

A joint tenant sells his 25% interest to someone outside the joint tenancy, the person who buys the interest enters as a

Personal property attached to real property which is used as part of a trade or profession

How many investors are required for a Real Estate Investment Trust (REIT)

One owner in a concurrent ownership enacts a court action to force the sale of the property, the court action is called

A clause in a commercial lease whereby the lessor agrees not to rent to any competitors of the lessee

A characteristic of a right of first refusal is

The law that requires certain contracts to be in writing is the

Which of the following is NOT a mandatory characteristic of a competent party

A false statement of material fact is __; and a subjective opinion is __

A contract which has been fulfilled

Which of the following penalties is possible if a restrictive covenant is breached

Items that were personal property but have been attached to real property and are now considered real property

A lien used to finance improvements serving a limited area

The legal claim that makes a property security for repayment of a debt

False statement or concealment of a material fact

The lot is burdened by an easement

The borrower in a mortgage loan

A contract which lacks one or more essential element

Fixtures are__; trade fixtures are __

A contract where both parties make promises

Water rights relating to flowing water such as a river or stream are called___and rights relating to a lake or sea are _

A grantor signed a deed on 1/15, grantee accepted on 1/17 and recorded on 1/19. When did the deed become valid

Which of the following can occur under a life estate

The lease given to shareholders in a cooperative

Which of the following is true with regard to the interests of the buyer following the creation of a contract

A type of modern legal description which describes the property’s shape and dimensions

Which of the following liens is both voluntary and specific

Which of the following lists the four essential elements of a contract?

A lease with predetermined rent increases

The holder of a naked title in a trust

A listing whereby the broker would be paid unless the seller found his or her own buyer

Which of the following describes the options in an option contract

The document recorded to release the lien when a mortgage loan is repaid

The four government rights in real property are

A person hired to do a job and who does not have withholding taken

To approve or sanction an act after the fact

The transfer of rights in real estate through a lease is a

The act of mixing one’s own money with someone else’s

The Civil Rights Act of 1968 (Title VIII), commonly known as the fair housing law, covered what type of property

The Civil Rights Act of 1866 banned___discrimination

A long-term lease on vacant land

A contract where only one party makes a promise

The consideration in a real estate sales contract is

The type of deed which includes the highest assurance to the buyer

A type of estate whereby the original grantor takes back title upon the death of the life tenant

A contract created by the actions of the parties

Who acknowledges a deed so that it can be recorded

When a life tenant is granted a life estate for as long as his mother lives, what type of life estate has been conveyed

Annually harvested crops are known as

The use of borrowed money to make an investment

The lender in a mortgage loan

Transfer of property by descent or laws of succession occurs when

Method of legal description which describes property in relation to the intersection of a baseline and meridian

Which of the following is NOT an example of freehold estate

Which instrument of conveyance affords the most protection to the purchaser

Things that “run with the land” 

The speed at which an investment can be converted to cash

What is the name of the court action used to remove a claim against a property

A lease where the lessee pays for the taxes, insurance and maintenance

A clause that allows the release of the lien against one lot in a blanket mortgage

Terms used in advertisements which might show a preference for or against a particular protected class

Number of square feet per acre

Power of government to regulate use of property

Transfer of real property through a will is known as

Rights to water from a flowing source, such as a river or stream

A burden on title (monetary or non-monetary)

The amount of space between the lot line and the building line is the

A contract whereby the seller finances the purchase and retains legal title until the full balance is paid

A person who is at least 18 and of sound mind

The best term to describe an unauthorized improvement extending across property lines

The gradual build up of soil on a property through the action of wind or water is known as

Violation of the terms of a contract without excuse

Holding title to property as a sole owner

Land burdened by an easement and on which the easement is located is known as the

The marketplace where mortgage loans are bought and sold

A contract that appears valid but could be rescinded

Which of the following is an economic characteristic?

Collusion or cooperating between competitors regarding price

A one-mile by one-mile parcel of land

Transfer or conveyance of title

A term of a contract or deed whereby the holder could lose title

A type of easement that attaches to a person or company

In Georgia, there are only three ways in which property ownership may be held; they are

A harmless statement of exaggeration

What is chattel

The law that prohibits excessive interest rates on loans

A person who represents someone else in a transaction in a particular transaction

A contract signed under duress is an example of

A person who has his or her broker’s license but is acting in the capacity of a salesperson for another broker

If one party gains title to the property of another by the continuous, open, hostile and exclusive use of the property

The primary purpose of recordation is to

When property is conveyed back to the original grantor of the same property, that person receives a

What term is used to describe one or both parties not performing under the contract terms

Title that appears to be valid but is not

A contractual right to obtain legal title

A(n) ___ contract is one created by the actions of the parties

A clause that allows a future loan to retain its priority in liquidation

A lien related to construction costs

A person who represents someone else in matters of all types

The property description method utilizing length measurement, compass direction and markers is called

A contract whereby the buyer has a choice to buy a property at a specific price for a stated period of time

A contract which has yet to be fulfilled

Which of the following is a physical characteristic of land?

Which of the following documents is used for the alienation of real property

Which of the following is NOT applicable to an option contract

An agreement whereby a lessee has the first opportunity to purchase the property should the lessor decide to sell

What term describes a new contract taking the place of an old contract

Transfer of all of a parties interest in a contract

A lease where rental increases are based on repeated appraisals

A clause in a mortgage loan that states the loan becomes due and payable upon sale of the property

A document which allows someone else to sign a contract for you

A requirement to buy a lesser quality property or service in order to buy a higher quality property or service

The property description method using lot numbers, block numbers, and subdivision names

A listing whereby only the broker who is the "procuring cause" would get paid a commission

The cancelling of a contract

Water rights based on “first in time, first in right

A leasehold estate with a definite start and ending is automatically renewed w/o notice and requires notice to terminate

A contract where the terms are at least discussed

An analysis used to recommend a listing price

The act of removing something that was attached to the land so that it becomes personal property

A bank or insurer who refuses to do business in a particular area

An organization through which brokers can share listings

When a zoning authority grants permission for the use of property which does not strictly conform to the area zoning

A type of estate where title can be lost if some condition is violated

A lease where at least some portion of the rent is based on the sales of the lessee

What is the one characteristic shared by both tenancy in common and joint tenancy

A legal claim against all property owned by the debtor

Trying to make a profit by telling owners to sell because people of a protected class are moving into the neighborhood

A legal concept which prevents someone from asserting or denying rights inconsistent with a previous position

A person who represents both parties in a transaction

The person conveying title in a deed

Notice given by recording

The lender in a deed loan

Which of the following would be EXEMPT under Familial Status protection

A person named in a will to carry out the will

The recipient of a power of attorney

Laws which prohibit monopolistic practices

In Georgia, leasehold estates are considered to be

A type of deed used instead of a mortgage

The borrower in a deed loan

A type of estate whereby a tenant may occupy a property for a definite and specified period of time

Rights to water from a lake, sea, ocean

When a tenant in common dies; what happens to his interest in the property

A declaration that signature was voluntary

A clause in a listing stating a broker will be paid if a property was shown and purchased even after the listing expired

A property owner's signing over rights in a claim to the insurance company in return for receiving insurance

A six mile by six mile parcel of land 

Examination of public records regarding ownership of a particular parcel of land

What occurs when a lessor’s action (or inaction) results in the premises being uninhabitable

Number of feet in a mile

A type of easement for landlocked parcels