California Principles questions Ch5-Ch9

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Principles Ch5 quiz

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1 of 10 Which of the following is not a water right?

A.    Riparian Right

B.     Doctrine of Prior Appropriation

C.     Littoral Right

D.    Alluvial Right

2 of 10 Melinda’s mother recently passed away. She is thinking of selling her belongings in an estate sale. During her research, she came across real and personal property regulations and laws. Please help Melinda understand the legal difference(s) between real and personal property.

A.    For the most part, the rules of the situs state govern the transfer of personal property from seller to buyer.

B.     Tax laws often distinguish between real and personal property.

C.     An agreement for a sale of real property must be in writing and signed by the party to be charged. If the amount or value is $500 or more, an agreement for the sale of personal property must be in writing.

D.    Both B and C

Principles

3 of 10 Gary and Paul have wooden shutters installed throughout their home. A few years later, Paul is promoted by his employer and transferred to another city. Gary wants to take the wooden shutters to their new home. Paul insists they must remain with the home. Which of the five tests for real and personal property applies?

A.    Method of Attachment

B.     Adaptability

C.     Intent

D.    All of the above.

4 of 10 The Percy family have purchased a heavily wooded property in Northern California. They are planning to build a guest house off the main house for entertaining. In the process, many trees will need to be cleared. The family is planning to sell the wood to the neighbors as firewood. Which process applies?

A.    Annexation

B.     Severance

C.     Appurtenance

D.    Livery of Seisin

5 of 10 John lives in an apartment and each month pays his rental payments. He is also considered a stockholder in his building and owns property. In what type of apartment does John live?

A.    Condominium

B.     Timeshare

C.     Cooperative

D.    Common Element

6 of 10 To take private property through eminent domain, three steps must be taken by the state or local government. What are they?

A.    The property owner must be paid compensation for the property. The property must be zoned for business use or public use. The owner must have due process in the court system.

B.     The property owner must agree to voluntarily transfer the property. The property must be for public good or use. The owner must have due process in the court system.

C.     The property owner must be paid compensation for the property. The property must be for public good or use. The owner must have due process in the court system.

D.    The property owner must be paid compensation for the property. The property must be for public good or use. The process of condemnation must be executed to ensure taking of the property.

7 of 10 Which of the following is not considered one of the five economic characteristics of land?

A.    The more demand for a particular property, the more valuable the property. The more demand there is for a particular property, the more valuable it is to consumers looking for real estate.

B.     Each parcel of land has its own nonhomogeneous characteristics. No two properties are the same.

C.     One property will sell quickly if only a few properties in a particular area are on the market.

D.    The three most important economic characteristics of real estate are location, location, and location.

8 of 10 Jeremy opened a coffeehouse in a space leased from Maria and Renaldo. A week before his lease expired, Jeremy moved to a new location without his commercial microwave which was attached to the counter. Eighteen days following notice of Jeremy’s right to reclaim the microwave, Maria and Renaldo sold the microwave at auction. Jeremy is furious and threatening legal action. Does he have a suit?

A.    No, Jeremy does not have a case. Since the microwave was not reclaimed during the period allowed by law.

B.     Yes, Jeremy does have a possible suit. The trade fixture, the installed microwave, is considered personal property and was merely forgotten and not legally Maria and Renaldo’s to sell.

C.     No, Jeremy does not have a possible suit. If he left it in the property, it automatically becomes property of the owners.

D.    Both A and C

9 of 10 Jonathan decides to sell his home and transfer all of his property ownership rights to the new buyer. This bundling and selling of rights is known as:

A.    Livery of Seisin

B.     Transfer of Appurtenances

C.     Nonhomogeneous Situs

D.    Transfer of Chattels

10 of 10 A violent storm comes in from the ocean, hitting the beachfront properties with destructive force. When the Meyers return to their home, they find the beach has disappeared from their property. Which term describes the damage?

A.    Reliction

B.     Avulsion

C.     Erosion

D.    Alluvion

Principles Ch6 quiz

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1 of 10 All property in the United States falls under which system of land ownership?

A.    Feudal System

B.     Allodial System

C.     Freehold System

D.    Dower System

2 of 10 TBH, Inc. owns land for development adjacent to their corporate headquarters. TBH, Inc. is the sole owner of the property. The land will be developed as a shopping and restaurant area. Which form of ownership does this property fall under?

A.    Severalty

B.     Unity of Possession

C.     Joint Tenancy

D.    All of the above

3 of 10 Penelope is interested in buying a 150-year-old historical home in San Francisco. If Penelope decides to purchase the home, it must be on the condition the original architectural features are never removed from the home. Additionally, if Penelope buys the home and then sells it at some point, the same condition must be in the sales contract, and so on. What type of freehold estate is this historic home?

A.    Fee Simple Defeasible

B.     Estate in Reversion

C.     Fee Simple Absolute

D.    Curtesy Estate

4 of 10 Which of the following is not considered one of the six distinct forms of ownership in California?

A.    Tenancy in Common

B.     Severalty

C.     Joint Tenancy

D.    Voluntary Tenancy

5 of 10 HEH, Inc. owns a large parcel of land which will be used for commercial development. Upon the sale of the property to HEH, Inc., the grantor in a written agreement established the lake may never be touched and the property may only be used for commercial purposes. Which type of private deed restriction is in place for HEH, Inc.’s property?

A.    Affirmative

B.     Covenant

C.     Public

D.    Building

6 of 10 The Moltasanto family has owned a vineyard in Sonoma for over one hundred years. They have owned all rights to the property since the first day of ownership. The property is always inherited by the oldest child after the death of the previous owner. Which type of estate is the Moltasanto family vineyard?

A.    Fee Simple Defeasible

B.     Fee Simple Absolute

C.     Estate in Reversion

D.    A Leasehold Estate

7 of 10 Suzette is leasing a condo from the Garcias. She has been renting the condo for over three years. She renews the lease each year and, because of her loyalty and exemplarily rental history, the Garcia’s allow her to make any décor changes she wishes. Which of the following statements is true about the relationship between the Garcias and Suzette?

A.    The Garcias own the condo in leasehold but rent it to Suzette in freehold.

B.     The Garcias have entered into a Pur Autre Vie lease relationship with Suzette.

C.     The Garcias own the condo in freehold but rent it to Suzette in leasehold.

D.    The Garcias and Suzette have a tenants in common relationship.

8 of 10 Patrice and Michael are in the process of refinancing their townhouse. The mortgage company calls and gives the couple the news they have a lien on their home for non-payment of the previous year’s property taxes. What type of lien is on their property? What do they need to do to remedy their situation?

A.    Patrice and Michael have an involuntary lien placed on their home for delinquent property taxes. The couple needs to pay the taxes, any interest and/or late fees, and have the lien removed.

B.     Patrice and Michael have a voluntary lien placed on their home for delinquent property taxes. The couple must pay the back taxes to have the lien removed

C.     Patrice and Michael have an equitable lien placed on their home for delinquent property taxes. The couple must pay the back taxes to have the lien removed.

D.    Patrice and Michael have a judgment lien placed on their home for delinquent property taxes. The couple must pay the back taxes and petition the court to have the lien removed.

9 of 10 Ted and Jack are selling their home to Duncan and Gary. Upon the title search, the title company discovers Ted and Jack’s home is free of any liens or problems and can be easily sold. Ted and Jack’s property holds which type of title?

A.    Certificate of Title

B.     Abstract

C.     Marketable Title

D.    Chain of Title

10 of 10 Christine and Scott have been married for fifteen years. They have three children, a home, and a vacation home. The couple purchased their home together after their marriage, but Scott owned the vacation property prior to the union. Christine and Scott are now getting divorced. Christine wants half of their residence and half of the ownership of the vacation property. At times they have rented the vacation home and the proceeds have gone to their joint bank account. Does Christine have any legal right to the ownership of the vacation home?

A.    Yes, due to the commingling of the funds gained from rental proceeds, Christine will be allowed shared ownership of the vacation property.

B.     Yes, although Scott came to the marriage with the vacation property, all property owned by each partner in a marriage is thus shared by the spouse.

C.     No, Scott came to the marriage with the vacation property, therefore it may remain a separate property. However, due to the commingling of the rental proceeds from the property in the joint account, she does have a right to half the proceeds.

D.    Both A and B

Principles Ch7 quiz

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1 of 10 Sania and her mother own property on a river. The water has carried part of their bank downstream to another property. They want their bank back and are prepared to have it returned. Which method of property transfer applies?

A.    By Accession and through Accretion

B.     By Accession and through Avulsion (It must be reclaimed within one year of the occurrence.)

C.     By Accession and through Avulsion (It must be reclaimed within two years of the occurrence.)

D.    By Succession and through Avulsion

2 of 10 The Ahmed family have signed a contract to buy the Miller family’s home. However, the contract states the Ahmeds must first close on the sale of their current home within thirty days. If this closing does not occur, the contract is no longer binding for either party. Which contract term applies?

A.    Novation

B.     Option

C.     Contingency

D.    Assignment

3 of 10 Which of the following is not a method of involuntary alienation?

A.    Tacking On

B.     Escheat

C.     Adverse Possession

D.    Eminent Domain

4 of 10 Ginny, a licensee, uses a preprinted contract in Tim’s purchase of a new loft apartment. There is a discrepancy in the contract between a preprinted clause and a handwritten addition. Which clause supersedes?

A.    The preprinted clause always supersedes a handwritten clause.

B.     The handwritten clause generally supersedes the preprinted clause.

C.     The handwritten clause always supersedes a preprinted clause.

D.    The grantor and grantee must resolve the contractual issues or the contract will be void.

5 of 10 Jack is buying the Padillas’ home. He makes his offer and in his terms states he wants all the window treatments, refrigerator, and microwave to be part of the sale. The Padillas accept his offer on the condition that the refrigerator is the only item that stays in the home. Which contract term applies?

A.    Implied Agreement

B.     Novation

C.     Counteroffer

D.    Option

6 of 10 Victoria, the lessee is negotiating to lease a condo from Sanchez, the lessor. They have agreed on the monthly lease payment, term of lease, security deposit, and so forth. Victoria plans to start moving in on the first day of next month. Which of the following applies to this situation?

A.    Offer

B.     Contract

C.     Title

D.    Executed

7 of 10 Olive Maccones dies without a will. She has three sons and seven grandchildren. She owned a substantial amount of property. What happens to the property?

A.    The property escheats back to the state.

B.     The property will be intestate and distributed by the state to the heirs.

C.     The property will be transferred according to the Statute of Descent and Distribution.

D.    Both A and C

8 of 10 Which of the following is not a requirement of a will?

A.    Legal age

B.     Proper wording

C.     Witnesses

D.    Written in testator’s handwriting

9 of 10 Which of the following elements is not necessary for a valid contract?

A.    Offer and Acceptance

B.     Accession

C.     Legality of Object

D.    Consideration

10 of 10 Victoria decides not to lease the condo from Sanchez. (They have an oral agreement.) She tells him she has changed her mind the day before she had agreed to move in. He has spent time and money getting the property ready for Victoria and is thinking of suing. Which type of contract applies to the situation?

A.    Valid

B.     Unenforceable

C.     Voidable

D.    Void

Principles Ch8 quiz

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1 of 10 Melinda is selling her home to Trevion. The deed, conveying the property, will be a general warranty deed. Who is the Grantor? Who is the Grantee in the transaction?

A.    Trevion is the Grantor. Melinda is the Grantee.

B.     Melinda is the Grantor. Trevion is the Grantee.

C.     Melinda is the Grantor. The home is the Grantee.

D.    Trevion is the Grantee. The home is the Grantor.

2 of 10 Which of the following deeds are not really deeds at all?

A.    Trustee’s Deed

B.     Land Patent

C.     Trust Deed

D.    Both A and B

3 of 10 Chandra and Fabian have heard that it is unnecessary to record a deed. Is this accurate?

A.    No, it is necessary and required to record a deed. The deed will not be valid unless it is signed, recorded, and notarized by a notary public.

B.     Yes, it is not necessary for a deed to be recorded. It is still valid and presumed to have been delivered without such recording.

C.     Yes, it is not necessary for a deed to be recorded. However, recording is advisable to protect the ownership interests of the grantee, establish priority, provide a record, and convey the transfer of title.

D.    No, it is necessary and required to record a deed. If it is not recorded, the first to record the deed is considered the first in right to the property.

4 of 10 Which of the following statements in reference to a deed is untrue?

A.    The deed transfers ownership only one time.

B.     In a deed, alienation is another term for transfer or convey.

C.     A deed must be recorded in order to be valid.

D.    The primary variation in the different types of deeds are the promises made by the grantor.

5 of 10 Jeffrey is selling his loft to Caroline. He is using a General Warranty Deed in the transfer of property. Which of the following covenants is not a requirement?

A.    Covenant of Seisin

B.     Covenant Against Encumbrances

C.     Covenant of Exceptions and Reservations

D.    Covenant of Further Assurance

6 of 10 Shamus McManus purchased property from Sir Ian Wainwright under early English common law. Which of the following were acceptable methods of property transfer?

A.    The transfer of a rock, some dirt, or a branch of a tree (feoffment).

B.     Livery of Seisin, the actual delivery of possession of the property.

C.     A statement made in front of witnesses in sight of the land, and the new owner’s entry onto that land.

D.    All of the above.

7 of 10 Maya, who lives in California, just purchased her first home at a Trustee’s foreclosure sale. She was given a deed at the sale. What type of deed was she given?

A.    Tax Deed

B.     Grant Deed

C.     Sheriff’s Deed

D.    Trustee’s Deed

8 of 10 Chandra is selling her condo to Fabian. Chandra’s deed explains the property has been clear since her ownership. However, she cannot guarantee that is the case prior to buying the condo. Which deed covers this situation?

A.    Bargain and Sale

B.     Special Warranty

C.     General Warranty

D.    Tax

9 of 10 Which of the following is not considered a basic real estate deed?‎

A.    General Warranty deed

B.     Bargain and Sale deed

C.     Special Warranty deed

D.    Sheriff’s deed

10 of 10 The signature of a notary public is known as:

A.    Attestation

B.     Acknowledgment

C.     Alienation

D.    Testimonium

Principles Ch9 quiz

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1 of 10 Johnel, of ABC Escrow, is beginning to work on the escrow procedures of the Van Horn – Simpson file. She prepares the instructions; orders the title search and report; requests new loan instructions and documents; negotiates the fee due ABC Escrow from the parties involved; and accepts the pest control report and other reports. Which of these procedures is prohibited?

A.    Johnel should not be requesting new loan instructions and documents. That is confidential information not applicable to closing escrow.

B.     The ordering of the title search and report is prohibited of an escrow company. It is a procedure that is handled by the sellers’ closing representation.

C.     Johnel should only be preparing the instructions and ordering the title search and report. All of the other procedures are not requirements of the escrow holder.

D.    Johnel should not be negotiating the fee due ABC Escrow as part of escrow procedures. The buyer and seller negotiate between themselves who is responsible for paying the escrow holder’s fee.

2 of 10 Dan, a real estate agent, suggests an escrow holder to the Snyder family for their real estate transaction. Is this a prohibited activity in California?

A.    If the Snyder family requests the information from Dan, and he has disclosed any interest he may have in the escrow company, then it is not prohibited.

B.     If Dan has made his suggested escrow company a condition of the transaction, it is a prohibited activity.

C.     If Dan has made the suggestion of an escrow company without a request of his client, it is not prohibited, just good customer service.

D.    Both A and B

3 of 10 XYZ Escrow has been turned down in its application for an escrow license. What could be the reasoning behind the denial of the license to XYZ?

A.    XYZ Escrow could not prove it was financially solvent and was unable to furnish a surety bond of at least $100,000.

B.     XYZ Escrow could not prove it was financially solvent and was unable to furnish a surety bond of at least $25,000, or more, based upon the yearly average trust obligations.

C.     XYZ Escrow placed funds in a trust account that was exempt from execution or attachment.

D.    XYZ Escrow could not prove it was financially solvent and furnish bonds of indemnification for all employees of at least $25,000.

4 of 10 The Escrow Act, found in the California Financial Code, establishes two essential mandates for escrow validity. What are these mandates?

A.    There must be a binding contract between buyer (grantor) and the seller (grantee); and there must be a conditional delivery of transfer instruments and funds to separate agencies.

B.     There must be a binding contract between buyer (neutral party) and the seller (grantee); and there must be a conditional delivery of transfer instruments and funds to a grantor.

C.     There must be a binding contract between buyer (grantee) and the seller (neutral party); and there must be a conditional delivery of transfer instruments and funds to a dual agency.

D.    There must be a binding contract between buyer (grantee) and the seller (grantor); and there must be a conditional delivery of transfer instruments and funds to a neutral third party.

5 of 10 The escrow instructions in the Van Horn – Simpson transaction are deemed unavailable to the Simpsons. If instructions are confidential, and ABC Escrow is a dual agency representing both parties, why are the instructions only known to the Van Horns, their real estate agent, and ABC Escrow?

A.    The instructions are considered bilateral and only apply to the Van Horns.

B.     The instructions are always only available to the buyer (grantee) and are of no consequence to the seller (grantor).

C.     The bilateral instructions apply only to the Van Horns and therefore may be known only to the Van Horns, their agent and ABC Escrow.

D.    The instructions are considered unilateral and apply only to the Van Horns; therefore they may be known only to the Van Horns, their agent and ABC Escrow.

6 of 10 The Van Horns (buyers) and the Simpsons (sellers) have closed escrow on their real estate transaction. Who handles the completion of the transaction and both parties’ separate paperwork?

A.    Both parties close the transaction with ABC Escrow, the dual agency, in which both parties are represented. ABC Escrow then changes to separate agency and also handles each parties separate paperwork.

B.     Although ABC Escrow served as the dual agency representing both parties until escrow closed, the Van Horns and Simpsons change to separate agencies for the handling of final paperwork.

C.     ABC Escrow closes escrow for the Van Horn family. The real estate listing agent closes escrow for the Simpson family. Both parties use an agreed upon title company, acting as a dual agency, to complete the transaction and final paperwork.

D.    None of the above.

7 of 10 The Van Horns deposit funds with ABC Escrow as a requirement for the purchase of their new home. Who is the grantee and the third party, and what is the type of transaction?

A.    The Van Horns are the grantees; and ABC Escrow the third party. This transaction constitutes appropriated closing funds.

B.     The Van Horns are the grantees; and ABC Escrow the third party. This transaction constitutes escrow.

C.     The Van Horns are the third party; and ABC Escrow the grantee. The transaction constitutes escrow.

D.    The Van Horns are the grantees; and ABC Escrow the third party. This transaction constitutes proration.

E.      

8 of 10 At the close of escrow, ABC Escrow divides up funds proportionately between the Van Horns and Simpsons. What is the process and what expenses does it include?

A.    The process of dividing funds between parties is the rescinding of escrow. It includes both expenses that are prepaid by the seller and paid after closing by the buyer.

B.     The process of dividing funds between parties is termination of escrow. It includes the expenses that both parties prepaid to the escrow holder.

C.     The process of dividing funds between parties is proration. It includes both expenses that are prepaid by the seller and paid after closing by the buyer.

D.    The process of dividing funds between parties is auditing escrow. It includes expenses of both parties granted to the escrow holder to secure the real estate transaction.

9 of 10 John and Jane Van Horn are buying their first home from the Simpson family. ABC Escrow will be the closing agent for both the Van Horns and Simpsons. Which of the three is considered the neutral party in this real estate transaction?

A.    The Van Horns are the neutral party; the Simpsons are the sellers; ABC Escrow is the lender.

B.     The Simpsons are the neutral party; the Van Horns are the buyers; ABC Escrow is the lender.

C.     ABC Escrow is the neutral party; the Van Horns are the buyers; the Simpsons are the sellers.

D.    Both the Van Horns and the Simpsons are the neutral parties in the transaction. ABC Escrow is the lender.

10 of 10 XYZ Escrow has gone out of business. They committed one of THE violations of all violations of escrow holder regulations. What is the violation?

A.    XYZ Escrow charged a fee for its services.

B.     XYZ Escrow did not maintain the records and files of its clients. Due to poor record keeping, several escrow accounts at XYZ were overdrawn.

C.     XYZ Escrow used forms at closing that were neither simple nor clear. In several instances, the closing of escrow was behind schedule and held up the completion of the real estate transaction.

D.    XYZ Escrow Company submitted the required annual audit late to their CPA for an additional audit.

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