All of these are good examples of severance except

FL RE Cheat Sheet Flashcards A ____ is a promise of real property, kept by the lender to secure the loan.A. noteB. agreement C. deedD. contract All of these are good examples of severance except ____.A. dividing a single room into two roomsB. removing a bathroom sinkC. tearing down a fenceD. ripping up carpet Which of the following is a violation of the Fair Housing act?A. not renovating second-story apartments to accommodate handicapped residentsB. not allowing a service dog in an apartment complex that doesn't allow petsC. a private club that provides lodging and gives preferential treatment to club membersD. refusing to rent to someone who does not meet economic qualifications According to Fair Housing laws, a handicapped individual who needs a service dog is permitted to have one even if animals are not generally allowed on the property.However, the person is responsible to pay for any damage the animal causes when their tenancy is up. In new multiple-story housing properties, accommodations must be made on the first floor only.Which type of deed contains no warranties at all?A.trustee's deedB. quitclaim deedC. sheriff's deedD. referee's deed Real estate agents will earn their money once a piece of property is ____.A. financially secureB. loaned or abettedC.valuedD. sold or exchanged Which of the following describes a transaction brokerage?A. The broker represents both the buying and selling parties.B. The broker represents the buyer in the transaction.C. The broker represents the seller in the transaction.D. The broker does not represent either party, but provides general information and services to each.In a transaction brokerage, the broker may help with general information or services, but she is not looking out for the specific interests of either the buying or selling party.What information would be unethical for a listing agent to share with a potential buyer?A. "The seller is very eager for an offer because he lost his job and found a new one in a different state."B. "The neighbors next door are really great and have two young children about the age of your kids."C."The roof might need to be replaced in the next year or two."D. "The community association fees are $800 this year, but they will be going up to $1200 next year." It is inappropriate for a listing agent to tell a prospective buyer personal information about the seller, even if it may encourage a sale. The only exception would be in the case of a seller instructing the agent to do so. Doing so would be a confidentiality breach on the part of the listing agent. The broker should answer all questions related to the property honestly.Which part of a traditional deed contains warranties?A.premisesB. habendum C. testimoniumD. acknowledgement What part of a deed limits the amount of the estate granted?A. premisesB. acknowledgementC. habendumD.testimonium Which lien is required by law to be paid first?A. home equity loanB. construction lienC. personal loanD.delinquent property taxes Which of these is not a type of leasehold estate?A. estate at sufferanceB. estate at willC. estate for yearsD. estate in perpetuity Which of the following is an example of dual agency?A. an agent who represents multiple buyers at the same timeB.an agent who represents both the buyer and the sellerC. an agent who represents multiple buyers and sellers at the same timeD. an agent who has a real estate license in two states When acting on behalf of a principal, an agent must ____.A. do everything in their power to ensure the best possible outcome for the principalB. balance the interests of the seller with the interests of the buyerC. put the principal's interests before their ownD. treat the principal's interests and their own interests with the same level of care A reverse mortgage ____.A. requires participant to be 62 or older and removes all remaining interest payments from

mortgageB. requires participant to be 65 or older and removes all remaining interest payments from mortgageC.requires participant to be 62 or older and converts equity into cashD. requires participant to be 55 or older and converts equity into cash Real property is defined as ____.A. land and all chattelB.landC. land and all personal property on that landD. land

and everything permanently attached A subdivision has a rule that each home in the neighborhood be at least 2,500 square feet. This is an example of which concept?A. homestead lawsB.cooperative ownershipC. restrictive covenantD. Fair Housing Laws violation Restrictive covenants are created by neighborhood developers or associations to ensure that the neighborhood maintains certain standards. Examples include minimum housing size, restrictions on architectural style, or mandated underground sprinkling.Where is a deed recorded?A. lawyer's officeB. county courthouseC. Secretary of StateD. Department of Licensing and Regulatory Affairs (LARA) Who is responsible for establishing the listing price of a property?A. the appraiserB. the property ownerC. the mortgage companyD. the real estate broker In a real estate transaction, the ____ is the current owner of the property and is conveying his or her property to someone else.A. landlord B. agentC. guarantorD. grantor Substituting a new obligation for an existing one with the intent to cancel the latter is called ____.A. assignment B.execution C. latchesD. novation A contract can become voidable if one of the parties was being victimized because ____.A. they were misled B. all of theseC. they were a minorD. they did not agree voluntarily Which of the following is not a requirement for a deed to be valid?A. description of propertyB. name of granteeC.recording in a county courthouseD. signature of grantor How many square feet in one acre?A. 55,430 B. 24,650 C.

43,560 D. 46,530

There are 43,560 square feet in an acre.Which of the following is not true regarding a contract of sale?A. It must be notarized.B. It is acceptable to refer to a document that is in the public record if the property description is very complex.C. It must be signed by all parties.D. Preprinted contracts are acceptable.Deed restrictions and easements on a property are considered ____ when written into the deed.A. a bad investmentB. a turnaround investmentC. a considerationD.exceptions and reservations When ownership of a piece of real estate goes from one person to another, it is called a(n) ____.A. convetary exchangeB. transferC. dealD. exchange A buyer and seller agree to wait until the seller's listing is expired to make the sale in order to avoid paying the broker his share. How can the broker get his commission?A. Sue the party/parties the broker was representing.B. Prove in court he was the procuring cause of sale.C. If the listing is expired, the commission is forfeited.D. File an injunction with the title company.Which of the following is never allowed?A. an exclusive right-to-sell listingB. an agent representing the buyer and seller of a single propertyC. a salesperson with an expired license presenting an offerD. a seller who attempts to sell their own house without the help of an agent Broker Katie obtains an exclusive agency listing with seller Steve. Katie creates marketing materials and runs open houses for Steve's home. Then, Steve finds a buyer on his own and sells the house without Katie's help. What fee is Katie owed?A. Steve must compensate Katie for the marketing materials but not for the time she spent running open houses.B. Katie has not earned a fee.C. Katie is entitled to the full commission.D. Steve doesn't owe Katie the full commission but must compensate her for the time and resources spent on marketing and open houses.A buyer agrees to purchase a home once the sale on her current home is completed. Legally, this is known as

____?A. contingencyB. option agreementC. negotationD.specific performance Mr. and Mrs. Cox make Mr. and Mrs. Green an offer on their home, but they have not heard back from them on