colibri real estate law Flashcards

colibri real estate law Flashcards What type of deed is tailored to the requirements of specific parties, properties, and purposes?A grant deedA general deedA special purpose deedA full covenant and warranty deed A special purpose deed What type of lien is one placed against any and all real and personal property owned by a particular debtor?A specific lienA general lienA senior lienA junior lien A general lien What type of listing is a non-exclusive contract, authorizing a broker to serve as the agent for either the sale or the purchase of property?A net listingAn exclusive right to sell listingAn open listingA multiple listing An open listing What type of variance permits an applicant to vary one or more of the dimensional or physical requirements of the applicable zoning law, code or ordinance in connection with some proposed construction?A zoning varianceA use varianceA code varianceAn area variance An area variance What independent contractor form must be used by brokers in California?The California Association of Realtors Independent Contractor Agreement formThe California Brokerage Agreement formThe Real Estate Association Claim formAny independent contractor form agreement The California Association of Realtors Independent Contractor Agreement form Which section, in a CAR Counteroffer, states that a binding agreement is created when a copy of a signed acceptance is personally received by the maker of the counteroffer or the person's authorized agent?OfferAcceptanceExpirationTerms Acceptance Which of the following is NOT a specialized federal court?U.S. Claims CourtU.S. Supreme CourtU.S. Tax CourtU.S. Bankruptcy Court U.S. Supreme Court California requires that deaths that occurred within the past three years be disclosed unless an occupant of the property dies with, or as a result of,cancer.leukemia.environmental factors.AIDS.AIDS.What doctrine states that if a property owner is lax in protecting his or her rights, the property owner may lose those rights?The Doctrine of ReapportionmentThe Doctrine of LachesThe Act of State DoctrineThe Cumulative Rights Doctrine The Doctrine of Laches What is known as water beneath the surface that runs in recognizable underground streams or collects in porous ground layers called aquifers?Common waterSurface

waterGround waterwater table.Ground water What describes a piece of property or an object on a property that is crossing the boundary line of an adjacent

property?A nuisanceA considerationA claimAn encroachment An encroachment

What describes when a borrower requests that the lender replace him or her on the loan instrument with a new buyer who must go through a process of full substitution?RestorationNovationSuccessorRenewal Novation What describes a lease provision that gives the tenant the right to extend the lease for an additional period of time and sets forth the terms for the renewed lease?A term leaseAn extensionA lease from period to periodAn option to renew An option to renew If a person dies with no heirs and no one qualified to receive the property, what power will the state use to claim the property?EscheatEminent domainSovereigntyIncentive Escheat What is a legal instrument for the voluntary transfer of real and personal property after the owner's death?A trustA willA deedA title A will Arbitration is an out of court settlement procedure wherethe third party has the power to make a binding decision.the third party attempts to create a compromise.the third party conducts a discovery.the third party consults with the judge.the third party has the power to make a binding decision.If a person believes he or she has been discriminated against, within what period of time of the alleged act must a complaint be filed with HUD?60 days2 years1 year6 months

• year

How many days notice must a month-to-month tenant give prior to vacating the property?60907530 30 Which fiduciary duty requires an agent to place the client's interests above those of all others, including his or her own?HonestyLoyaltyAccountabilityDisclosure Loyalty In what type of a relationship is an agent paid based on his or her results, not effort or time spent working on real estate activities?An employee relationshipA technical relationshipAn independent contractor relationshipA transaction broker relationship An independent contractor relationship What informs buyers and prospective tenants of the registered sex offender database that can be searched to identify if any sex offenders are near a property?Identifying a Registered Sex Offender PamphletNotice Regarding Database of Location of Registered Sex OffendersA Sex Offender Disclosure FormA Property Disclosure Statement Notice Regarding Database of Location of Registered Sex Offenders If an affiliated licensee terminates or transfers to another broker, within how many days of termination must a broker notify the DRE through it's Elicensing system, or in writing, and return the licensee's license to the licensee?5 days14 days10 days3 days

• days