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Question 1 1. A party wall is located on the boundary between two properties. Who benefits?
Question 2 2. Which of the following is true about encroachments?
Question 3 3. How are REIT dividends taxed?
Question 4 4. Allan and Beth hold a piece of property as joint tenants. Allan decides to sell his interest to Charles. How do Beth and Charles hold their interest?
Question 5 5. A house flipper is renovating a kitchen in a city that has adopted the ICC model codes. Which building code is the flipper most concerned about for his kitchen renovation?
Question 6 6. Why do CC&Rs exist?
Question 7 7. CFPB is an acronym for
Question 8 8. Anna's loan requires that she escrow seven months of her annual property tax bill of $2,439. How much money will be collected at the time of closing?
Question 9 9. What does a 100 year floodplain mean in terms of flood risk for a property?
Question 10 10. What is an example of a latent defect?
Question 11 11. Leigh and Jennifer are friends. Leigh is looking for a new house, and Jennifer happens to work in real estate. Leigh can't make it to a showing for a house she's interested in and asks Jennifer to go look at the house for her. Leigh never hired Jennifer, but she tells the owners that Jennifer is coming on her behalf. Jennifer sees the house and knows Leigh will love it, so she makes an offer for Leigh. What is this an example of?
Question 12 12. Paul hires Andy to be his sports agent. Paul hires Andy specifically to negotiate his NFL contract for the upcoming football season. Shortly afterward, Paul breaks his leg and can't play football for several months. What is the state of this agency relationship?
Question 13 13. Marco leases the entire 5th floor of a downtown office building for his law firm. He'd like to add some antennas, for better WiFi reception, to the top of the building. Before he does this, he needs to know:
Question 14 14. What gives the mineral estate the right to make reasonable use of the surface?
Question 15 15. How will the escrow agent typically know when he can release the property he is holding?
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