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California Real Estate > Property Ownership & Land Use Controls & Regulations > Flashcards

Property Ownership & Land Use Controls & Regulations Flashcards

To learn Hot Topics.

1
Q

Is a grant deed signed by a single person under the age of 18 valid?

A

No. It is void.

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2
Q

Can commission splits between brokers be by oral agreement?

A

Yes.

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3
Q

Can you pay a commission to an out-of-state broker?

A

Yes.

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4
Q

What redevelops property for mixed use?

A

Infill.

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5
Q

What term is used for something to be performed at a later date?

A

Executory.

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6
Q

What term is used for a document that has been signed?

A

Executed.

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7
Q

What is the statute of limitations on a judgment?

A

10 years.

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8
Q

What type of listing allows the owner to sell the property during the listing period and not pay a commission?

A

An exclusive agency listing.

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9
Q

Can an exclusive listing have an open-ended date?

A

No. All exclusive listings must have a definite termination date.

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10
Q

Who earns a commission on an open listing?

A

Only the agent who is the procuring cause.

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11
Q

Are net listings legal in California?

A

Yes. But, they are not recommended.

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12
Q

Expansion and contraction of available spaces is influenced mainly by what?

A

The elasticity of demand.

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13
Q

What is a kiosk?

A

A small freestanding building used for information purposes that is often found in shopping centers.

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14
Q

What term means “the study of the population”?

A

Demography.

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15
Q

What is a term for a very large city?

A

A megalopolis.

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16
Q

What is a request for zoning change of a single lot for the owners’ benefit called?

A

A variance.

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17
Q

Septic tanks must be installed how far from improvements?

A

At least five feet.

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18
Q

What is a setback?

A

The distance between the street and the front of the improvements that must remain unimproved to comply with ordinance.

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19
Q

What types of setbacks do most communities have?

A

Front, side and rear.

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20
Q

What is the purpose of the Franchise Investment Law?

A

To protect the franchise.

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21
Q

What type of funds are used to purchase a franchise?

A

Discretionary.

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22
Q

Who must publish a bulk sales notice?

A

The transferee (a buyer).

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23
Q

How many days before the sale must a bulk sales notice be published?

A

At least 12 days.

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24
Q

What is the purpose of the bulk sales notice?

A

To alert creditors to the sale.

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25
Q

How many times must the bulk sales notice appear?

A

Only once.

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26
Q

Under what jurisdiction is the bulk sales notice?

A

The bulk sales notice is under the Uniform Commercial Code.

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27
Q

What does a buyer need to obtain from the State Board of Equalization to avoid successor’s liability?

A

A clearance receipt.

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28
Q

Who does the buyer obtain a clearance receipt from, in order to avoid successor’s liability?

A

The State Board of Equalization.

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29
Q

What does a bill of sale do?

A

Transfers title to personal property?

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30
Q

Does a bill of sale transfer title to real property?

A

No.

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31
Q

What is required for a bill of sale to be valid?

A

The seller’s signature.

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32
Q

What department regulates liquor licensing?

A

The Department of Alcoholic Beverage Control.

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33
Q

How can a franchisor be exempt from the permit aspect of the Franchise Investment Law?

A

A franchisor must have a net worth of $5 million with at least 25 franchises operating continuously in the five years preceding the offering.

34
Q

What are you testing for by turning on all faucets and flushing the toilets?

A

Water pressure.

35
Q

What affects the value of property near a gas station?

A

Toxic waste.

36
Q

What is another name for Title VIII?

A

The federal Fair Housing Act.

37
Q

What is another name for the federal Fair Housing Act?

A

Title VIII.

38
Q

What does “as is” refer to?

A

Observable defects.

39
Q

What act prohibits discrimination in the membership of real estate boards and the multiple listing service?

A

Title VIII of the Civil Rights Act of 1968 (federal).

40
Q

Under which act may an owner of a single-family residence take in one boarder to live with him or her and is exempt from the act?

A

California Fair Housing.

41
Q

Which act controls businesses and prohibits discrimination?

A

The Unruh Civil Rights Act.

42
Q

Under the Unruh Civil Rights Act are actual or punitive damages possible?

A

Both are possible.

43
Q

Give three examples of illegal and unethical practices by a real estate licensee.

A

Steering, panic selling, and blockbusting.

44
Q

What is redlining?

A

Discrimination by a financial institution.

45
Q

What is the purpose of federal fair housing laws?

A

To provide fair housing for all persons in the United States.

46
Q

Legal action based on alleged violations of fair housing laws can be brought in which court?

A

Both federal and state courts.

47
Q

What landmark case barred racial discrimination in property matters in the U.S.?

A

Jones v. Mayer in 1968.

48
Q

Which disclosure is required of sellers or transferors of one-unit to four-unit dwellings, since 1987?

A

A Real Property Transfer Disclosure Statement.

49
Q

Is a Real Property Transfer Disclosure Statement required for an “as is” sale?

A

Yes.

50
Q

Can a broker fill in the seller’s portion of the Real Property Transfer Disclosure Statement?

A

No.

51
Q

A broker must disclose based on what?

A

A competent visual inspection of the accessible areas.

52
Q

What is the point of Easton v. Strassburger?

A

A broker must make a competent visual inspection of the accessible areas and disclose.

53
Q

As of 1988, what are agents required to give to seller and buyers of one to four dwelling units?

A

A written Agency Disclosure Statement.

54
Q

What are three hallmarks of a fiduciary relationship?

A

Loyalty, integrity, and utmost care.

55
Q

What are the names of the base and meridian lines in California?

A

Humboldt, Mt. Diablo, and San Bernardino.

56
Q

What does the saying “miles square” refer to?

A

Shape.

57
Q

What does the expression “square miles” refer to?

A

Area or content.

58
Q

Is a township a six-mile square?

A

Yes.

59
Q

How many square miles are in a township?

A

36.

60
Q

How many townships are there in a 36-mile square?

A

36.

61
Q

How many sections are there in a township?

A

36.

62
Q

How many square miles are in a six-mile square?

A

36.

63
Q

How many acres are in a section?

A

640.

64
Q

What is a one-mile square?

A

A section.

65
Q

Are range lines oriented north-south or east-west?

A

North-south. (Range, north and south all have five letters.)

66
Q

Are base lines oriented north-south or east-west?

A

East-west., (Base, east and west all have four letters.)

67
Q

How many square feet in an acre?

A

43,560 square feet to an acre.

68
Q

How many feet on each side of a square acre?

A

208.71 feet on each side of a square acre.

69
Q

How many square yards to one acre?

A

4,840 square yards to an acre.

70
Q

How many feet in a mile?

A

5,280 feet to a mile.

71
Q

How many rods to a mile?

A

320 rods to a mile.

72
Q

How many feet to a rod?

A

16.5 feet to one rod.

73
Q

How many rods to one chain?

A

Four rods to one chain.

74
Q

How many feet to one chain?

A

66 feet to one chain.

75
Q

How many square feet to a square yard?

A

Nine square feet to a square yard.

76
Q

What is a brownfield site?

A

A contaminated abandoned parcel that may be complicated to develop.

77
Q

What is a side yard setback?

A

The distance between the property line and the edge of the improvements.

78
Q

Do you deduct side yard setbacks from one side or both sides?

A

Both sides.

79
Q

How do you calculate build-able square feet?

A

Deduct the setbacks from the total lot area to arrive at build-able square feet.

80
Q

What are contiguous lots?

A

Lots that abut each other, at any point of contact.

California Real Estate (1 decks)

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