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RW exam > Acq, RAP, & Prop Mgt > Flashcards

Acq, RAP, & Prop Mgt Flashcards

1
Q

What unit sets a value for a property?

A

Appraisals

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2
Q

The parcel diary must state that each owner received what document?

A

Title VI information

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3
Q

What is the maximum dollar amount for internal escrow?

A

$25,000 or less

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4
Q

What document must be recorded and states there are legal proceedings pending?

A

Lis Pendens

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5
Q

What issues or questions do the CTC consider?

A

Is the project necessary?
Was it planned with the greatest public good and least private injury?
Is the property necessary for the project?
Was fair market value made?

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6
Q

What initiates the condemnation process?

A

Mailing the Notice of Intent (NOI) to adopt a Resolution of Necessity (RON)

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7
Q

What dollar amount is considered a substantial administrative settlement?

A

More than $500,000

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8
Q

What type of RW agent makes a RAP call and under what circumstances?

A

An acquisition agent will make a RAP call when it is owner occupied?

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9
Q

What initiates eligibility of Relocation Assistance Program (RAP)?

A

Initiation of Negotiations

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10
Q

What are the components of the Uniform Compliance Act?

A

Establish just compensation prior to initiation of negotiations
Make every reasonable effort to acquire expeditiously by negotiation
Include appraisal with First Written Offer
Include appraisal summary statement because it is required by FHWA

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11
Q

What do nonstandard clauses need to be explained in?

A

Memorandum of Settlement

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12
Q

How many days do we give property owners to consider a First Written Offer?

A

30 days

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13
Q

What type of easement gives fee simple interests and access rights?

A

Permanent easements

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14
Q

What type of easement is for leases, permits to enter, and rights of entry?

A

Temporary easement

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15
Q

What allows for a price differential, mortgage differential, incidental expenses or rent differential/ down payment option?

A

Replacement Housing Payments

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16
Q

Who receives rent differential for rent and utilities for actual or estimated average over 12 months and down payment option for direct conversion of rent differential?

A

Tenants who have 90 or more days

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17
Q

What are is considered moving expenses?

A

Actual reasonable moving costs such as reimbursement for 50 miles or less. This includes: transportation, packing / unpacking, disconnecting / reconnecting household appliances, temporary storage and insurance. Fixed moving cost schedule is designed to cover actual expenses at a fixed rate. Schedule depends on owner or tenant furnished.

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18
Q

Three main functions of RAP?

A
  1. Relocation Advisory Assistance
  2. Moving expenses
  3. Replacement housing payments
19
Q

Who is considered a person that has temporary use and occupancy of real property owned by another?

A

Tenant

20
Q

What act insures that people displaced as a direct result of federal or federally assisted projects are treated fairly, consistently, and equitably so that such persons will not suffer disproportionate injuries as a result of projects designed for their benefit of the public as a whole?

A

The Uniform Act of 1970 (49 CFR 24)

21
Q

What is a person considered if they have any of these 4:
1. Fee, life estate, land contract, 99 year lease, or oral lease,
2. Interest in a cooperative housing project which includes the right to occupy a dwelling,
3. A contract to purchase any interests or estates,
4. Any other interests (including a partial interest)

A

An owner

22
Q

What are the 6 characteristics of a comparable replacement?

A
  1. Decent, safe, and sanitary
  2. Functionally equivalent
  3. Adequate size for the accommodation
  4. Area not subject to unreasonable adverse environmental conditions
  5. Location not less desirable
  6. Land that is typical in size for residential development
23
Q

What is functional obsolescence?

A

It lacks appeal. It is the loss in value due to a flaw in the structure, materials, or design that diminishes function, utility, or appeal.

24
Q

What are the three tests for a larger parcel?

A

Contiguity
Same owner
Same use

25
Q

What formula is used to calculate total economic life?

A

Effective age (EA) + remaining economic life (REL) = total economic life (TEL)

26
Q

What is the section of the appraisal report that has an analysis of value derived from the approaches used to arrive at a final value estimate and clearly communicates the appraiser’s reasoning by which they resolve the range of values to a conclusion?

A

Reconciliation

27
Q

What must a 90 day owner occupant have to receive the full amount of RHP’s?

A

Purchase and occupy ?DSFS? Rep dwelling within 1 year after the later of:
1. The date he first received notice of available replacement housing
2. The date Caltrans paid acquisition cost of current dwellings and spend at least the amount of the CT rep dwelling and file a claim for RHP’s within 18 months of date needed to vacate property or CT paid acquisition cost of current dwelling

28
Q

Who contacts displacees, explains information and policies, gives current listings (if desired), and offers right to appeal?

A

Relocation Advisory Assistance

29
Q

What is a resident considered if they are at a property 90 days prior to ION?

A

Qualified owner occupant

30
Q

What is step one of property management?

A

Inspect- make sure property is decent, safe and sanitary. It needs to be ready to rent. The state fire marshal approves plans prior to leasing.

31
Q

What is step two for property management?

A

Advertise- the availability of the property must be advertised and newspaper ads must comply with Public Contract Codes

32
Q

What is step three for property management?

A

Show - show the property to prospective tenants

33
Q

What is step four for property management?

A

Application- complete rental application and pet application (if applicable). Obtain SS#, ID, & credit report

34
Q

What is step five for property management?

A

Determine:
1. Fair market rental rates
2. Who pays utilities
3. Rental period (paid monthly & due dates)

35
Q

What is the six step for property management?

A

Agreement- execute rental agreement (everyone 18 years old must sign). Tenants must sign before they occupy property.

36
Q

What is step seven for property management?

A

Advise and inform

37
Q

What is involved in advising tenants?

A

Advice tenants of:
1. Policies regarding deposit
2. Period of time property will be available to rent
3. Possessory interest tax ( tax on non-taxable property)

38
Q

What is involved with informing the tenants?

A

Inform tenants of:
1. Prompt payment on 1st is mandatory
2. Give brochures at time of agreement : Caltrans and You
Title VI

39
Q

What is step eight for property management?

A

Account - setup tenancy account in the Right of Way Property Management system

40
Q

What is the percentage of rent disbursed to the county?

A

24% per streets and highway code

41
Q

What cannot be used on public property?

A

Prescriptive rights

42
Q

Excess land vs. airspace

A

Excess land is not in the right of way
Airspace is in the right of way but it doesn’t affect traffic

43
Q

What must be disclosed for properties constructed prior to 1978?

A

Excess land must disclose the possible exposure to lead based paint

RW exam (4 decks)

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