Real Estate Fundamentals - 30-hour course Flashcards

Real Estate Fundamentals - 30-hour course Flashcards A datum isused in the description of an air lot.Which of the following is required in Pennsylvania real estate transactions?Coal Mining Notice Method of annexation, adaptation to real estate, and agreement between the parties are the legal tests for determining whether an item is?a fixture or personal property.Which of the following is considered to have the greatest impact on the value of a property?Area Preference Method of annexation, adaptation to real estate, and agreement between the parties are the legal tests for determining whether an item is a fixture or personal property.The bundle of legal rights includes all of the following rights

EXCEPT

use the property for any purpose, legal or otherwise.The buyers have asked their real estate agent to help them determine the correct way to take title to their new home. In this situation, the real estate agent should suggest that the buyers consult an attorney.What is the effect of Pennsylvania adopting the Uniform Partnership Act?Partnerships are recognized as a legal entity.What, if anything, is required of a federally funded project?Environmental impact statement Who, if anyone, is permitted to obtain aviation easements over land surrounding airports?Local government authorities Soil absorption and drainage are measured by percolation test.appurtenant easementRuns with the land What is considered when determining whether an item is real property?A)Manner in which the item is actually used with other real propertyB)Method of its attachment to other real propertyC)Intended use of the item by its owner Contamination by underground storage tanks is regulated by the EPA.Which entity is generally responsible for creating the requirements for a real estate license?Individual state law When is a certificate of occupancy issued? After a newly constructed building has been inspected and found satisfactory by the municipal inspector benchmarkA brass marker that surveyors use to mark local datums i Nonhomogeneityuniqueness To protect the public from fraudulent interstate land sales, a developer involved in interstate land sales of 25 or more lots must provide each purchaser with a report of the details of the land, as registered with HUD.A monument is used in which type of legal description?Metes and bounds The purpose of a building permit is toprovide evidence of compliance with municipal construction regulations.If a buyer of a vacant lot builds a house that violates the restrictions in the buyer's deed, the buyer may be sued and required to alter the structure to conform with the restrictions.

A buyer purchased a parcel of land and immediately sold the mineral rights to an oil company. The buyer gave up which of the following?Subsurface rights At what level of radon, if any, does the EPA suggest that action be taken?

• pCi/L

With regard to ownership rights to waterways, Pennsylvania adheres to the common-law doctrine of riparian and littoral rights.An acre is how many square feet?43,560 square feet.Which of the following is a physical characteristic of real estate?Indestructibility Under Pennsylvania's Uniform Condominium Act, each succeeding purchaser must be given a copy of the resale certificate.The primary intent of zoning regulations is to ensure the health, safety, and welfare of the community.A landowner who wants to use the property in a manner prohibited by a local zoning ordinance can try to obtain which of the following from the municipality?Variance To determine whether a location can be put to future use as a retail store, one would examine the zoning ordinances How might a restriction in a seller's deed be enforced?Court injunction Where is the official datum as defined by the U.S.Geological Survey (USGS) located?Mean sea level at New York Harbor A developer may establish which of the following to control and maintain the character and quality of a subdivision?Restrictive covenants LandEarth's surface to the center of the earth After selling all the lots in a new community, the developer transfers ownership of the streets and park to the municipality Dedication