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Question 1 of 10
1. Question
In the United States, there are four methods used for describing lands that are nationally accepted. Which of the following is not among the four methods?
Correct
The other method for describing land in the US is called a rectangular survey. These methods are useful in identifying real estate. These methods must be legally followed as required by the law when identifying the real estate hence the name ‘legal description’.For the description to be considered good enough and valid, it must therefore identify the property. Contrary to a good description, it’s rare for a description to be 100 percent accurate.
Incorrect
The other method for describing land in the US is called a rectangular survey. These methods are useful in identifying real estate. These methods must be legally followed as required by the law when identifying the real estate hence the name ‘legal description’.For the description to be considered good enough and valid, it must therefore identify the property. Contrary to a good description, it’s rare for a description to be 100 percent accurate.
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Question 2 of 10
2. Question
Max offers to buy Jane’s house for $225,000. Jane examines Max’s offer and then offers to sell her house to Max for $250,000. Which of the following is correct?
Correct
For parties to be in a contract of a sale, they must first engage in a conversation. When selling a property in real estate, you initiate a sale contract with a prospective buyer who shows interest in the property being sold. The offeror is the person who makes an offer, whereas the Offeree is the person receiving the request.
Incorrect
For parties to be in a contract of a sale, they must first engage in a conversation. When selling a property in real estate, you initiate a sale contract with a prospective buyer who shows interest in the property being sold. The offeror is the person who makes an offer, whereas the Offeree is the person receiving the request.
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Question 3 of 10
3. Question
Max expressed an interest in a house sold by Jane and made an effort to make an offer to Janes’s house. A statement in the request states that it will remain open until noon, March 17, 2018. It’s now 3 p.m March 16, 2018. Which of the following statement is correct according to the case?
Correct
When two parties are involved in the conversation before entering into a contract, no one has a right to do something to each other until the agreement is made. The party that requests to buy a property through an offer has to wait until the end date to see whether it will accept or decline the offer. The offeror is free to cancel an offer if the offeree has not yet accepted it.
Incorrect
When two parties are involved in the conversation before entering into a contract, no one has a right to do something to each other until the agreement is made. The party that requests to buy a property through an offer has to wait until the end date to see whether it will accept or decline the offer. The offeror is free to cancel an offer if the offeree has not yet accepted it.
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Question 4 of 10
4. Question
Which of the following part of a deed is not correctly explained?
Correct
A deed contains an official written statement by a public officer. The declaration in the deed is usually written by a commissioner specialized in oaths and with regards to the genuineness of the grantor’s signature. Acknowledgment is of more usefulness during the recording of the deed than in the transfer title.
Incorrect
A deed contains an official written statement by a public officer. The declaration in the deed is usually written by a commissioner specialized in oaths and with regards to the genuineness of the grantor’s signature. Acknowledgment is of more usefulness during the recording of the deed than in the transfer title.
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Question 5 of 10
5. Question
Which of the following explanation best explains what blockbusting is?
Correct
The Fair Housing Act bans blockbusting. Blockbusters buy properties at very low prices from the whites and sell them to the black at extremely high prices. Some of the blockbusters, to meet their greedy and felonious goal they intentionally incite panic.
Incorrect
The Fair Housing Act bans blockbusting. Blockbusters buy properties at very low prices from the whites and sell them to the black at extremely high prices. Some of the blockbusters, to meet their greedy and felonious goal they intentionally incite panic.
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Question 6 of 10
6. Question
Which statement below clearly gives the meaning of the Eminent domain?
Correct
Just like other regular people, the government can initiate negotiations and buy a property. As a seller, you can also turn down the government if you feel you don’t need to do business. The government also has a right to practice the right of eminent domain, but it goes against it because they enter into a negotiation when they want land for a specific purpose. The government can acquire your land forcefully because they have the right to eminent domain.
Incorrect
Just like other regular people, the government can initiate negotiations and buy a property. As a seller, you can also turn down the government if you feel you don’t need to do business. The government also has a right to practice the right of eminent domain, but it goes against it because they enter into a negotiation when they want land for a specific purpose. The government can acquire your land forcefully because they have the right to eminent domain.
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Question 7 of 10
7. Question
When a government decides to forcefully acquire a person’s property and against his/her will, it needs first to meet specific requirements before taking that action. Which of the following is not among the requirements?
Correct
Every state has her self-made requirements that a government needs to meet before exercising the right of eminent domain. People can challenge eminent domain proceedings at the court of law if they believe that the property use is not for a genuine public purpose or because the government did not follow the right procedure.
Incorrect
Every state has her self-made requirements that a government needs to meet before exercising the right of eminent domain. People can challenge eminent domain proceedings at the court of law if they believe that the property use is not for a genuine public purpose or because the government did not follow the right procedure.
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Question 8 of 10
8. Question
Rakel buys a landlocked property. Muliro allows Rakel to drive on her property towards the main road. What does Rakel have?
Correct
A property that benefits from an easement appurtenant is neighbors’.In this case, Rakel’s property. An individual is the one who benefits from an easement in gross. Easement by the entirety does not exist. Incase someone refuses to give an easement, then an easement by necessity is issued. In our case, Muliro agrees to give Rakel an easement.
Incorrect
A property that benefits from an easement appurtenant is neighbors’.In this case, Rakel’s property. An individual is the one who benefits from an easement in gross. Easement by the entirety does not exist. Incase someone refuses to give an easement, then an easement by necessity is issued. In our case, Muliro agrees to give Rakel an easement.
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Question 9 of 10
9. Question
A general order has a list of requirements that also appear in the deed. Pick out the wrongly explained requirement.
Correct
The need to establish and prove property ownership has forced states to endorse legislation known as the statute of fraud. In the real estate business, a title must be written by the statute of fraud when is changing ownership, that is when transferred from one party to another. When titles are prepared, they are required to be prepared according to the current place you are living.
Incorrect
The need to establish and prove property ownership has forced states to endorse legislation known as the statute of fraud. In the real estate business, a title must be written by the statute of fraud when is changing ownership, that is when transferred from one party to another. When titles are prepared, they are required to be prepared according to the current place you are living.
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Question 10 of 10
10. Question
Which of the following statements clearly explains what covenant against obstruction warranty is?
Correct
General warranty deeds are also referred to as warranty deeds. They ensure beefed-up protection and warranties to the grantees. The covenant against obstruction assures the grantor that there are no obstructions, for instance, an easement or warranties.
Incorrect
General warranty deeds are also referred to as warranty deeds. They ensure beefed-up protection and warranties to the grantees. The covenant against obstruction assures the grantor that there are no obstructions, for instance, an easement or warranties.