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block

The street in your neighborhood has been paved in the city. How will that affect your tax bill?

Select the correct answer(s).  

(0/0)

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Assessed value will decrease

Your property tax will be lowered

Millage rate will increase

You may receive a bill for special assessments

none

The listing salesperson has no duty to inform a buyer that

Select the correct answer(s).  

(0/0)

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Leaks from a nearby toxic waste dump site have caused underground pollution

The city inspector will probably not issue a permit to build on this property unless a cleanup takes place

Seller indicted that she will accept less for the property

Zoning is a problem for the property

none

An area of land that is one mile by one mile square is called

Select the correct answer(s).  

(0/0)

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A check

An acre

A section

A township

none

A provision placed in the deed by the seller aimed at controlling the present and future use of property is called

Select the correct answer(s).  

(0/0)

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Land use regulation

Seller restriction

Deed restriction

Unnecessary burden on the buyer

none

Seller's disclosure statement must be provided to buyer

Select the correct answer(s).  

(0/0)

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Any time before closing

No later than two days after closing

Before an offer to purchase is signed

No later than nine business days after signing the offer to purchase

none

All the following is true about joint tenants except

Select the correct answer(s).  

(0/0)

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They have the right of survivorship

They may own property in equal or unequal shares

Ownership is received with the same deed or will

They must inherit or purchase property at the same time

none

An owner of porperty whose property is located next to a small body of water or stream has

Select the correct answer(s).  

(0/0)

---

Littoral rights

Erosion rights

Riparian Rights

Encroachment rights

none

John purchases property property zoned for multiple units and plans to build an apartment complex on it but discovers a deed restriction that limits the use to single famiy only. You should tell John that...

Select the correct answer(s).  

(0/0)

---

The deed restriction has no power against a zoning ordinance

The zoning ordinance must be honored because the government's rights are superior to private rights

The deed restriction will supersede the zoning ordinance because it is more restrictive

Based on the restriction, he could build single-family homes or apartments as he wishes

none

The right to use someone elses's property for a purpose is known as

Select the correct answer(s).  

(0/0)

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Encumbrance

An easement

Encroachment

Public right

none

Regarding condominiums, which of the following is not true?

Select the correct answer(s).  

(0/0)

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All co-owners have to honor the bylaws

If a co-owner does not use a common element such as a swimming pool, then she does not have to pay her share of the association dues

Association fees are paid to the condominium association to maintain common elements and insure them

Common elements are owned by all co-owners

none

A deed restriction is placed in the deed by

Select the correct answer(s).  

(0/0)

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The Grantee

the Grantor

The Lender

The broker

none

An owner asks the salesperson if his company will accept less commission. The Salesperson must...

Select the correct answer(s).  

(0/0)

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Leave the commission blank after signing the listing agreement and see if the broker will later allow a lower commission

Tell the owner that all commissions are set by the state and there is nothing he can do

Lower the commission to any reasonable amount agreed upon between the salesperson and the owner

Tell the owner that the decision must be made by the broker and he has no authority to accept less commission

none

All of the following are material facts except

Select the correct answer(s).  

(0/0)

---

Seller is anxious to sell

Problem with Plumbing

Crack in the basement wall

A leak in the roof

none

A method of legally decribing land that involves baselines and range lines is the...

Select the correct answer(s).  

(0/0)

---

Rectangular survey system

Informal reference system

Metes and bounds

Lot subdivision method

none

An owner requests that the licensee delete the anti-discrimination clause from the listing because as a minority individual he is offended by it and would not even dream of discriminating against other minority individuals. The licensee must...

Select the correct answer(s).  

(0/0)

---

Ask the seller to wait until he sees the buyers in case they are of a different race group and the seller may still want to discriminate anyway

Get permission from the broker before the clause is deleted

Delete the clause

Tell the seller that it is a state requirement and a listing will not be valid without it