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Real Estate > Real Estate Law > Flashcards

Real Estate Law Flashcards

0
Q

When and where was the first modern attempt at comprehensive zoning made?

A

New York. 1916.

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1
Q

What is a “Subdivision” as defined by the Lands Act?

A

A subdivision is a blah blah blah

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2
Q

What is Euclidean Zoning

A

Simple Zoning based on hierarchical structure: Residential prevails over commercial, which prevails over industrial.

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3
Q

What is Interim Zoning

A

Expeditious method of providing exception to zoning for important purposes.

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4
Q

What does LAFCO stand for?

A

Local Agency Formation Commission.

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5
Q

What is the Local Agency Formation Commission (LAFCO)?

A

A commission that the state requires to exist in each county and city having a planning department. It regulates the policies and procedures for incorporating new cities, merging cities, and annexing land to cities.

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6
Q

In which court case did the court completely denounce the plaintiff’s claim that a General Plan with trees shown to span over the land owner’s property was considered a taking of his property?

A

Shelby Realty v. city of San Buenaventura.

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7
Q

In which court case did the court hold that the city can preserve its small-town character through use of zoning.

A

Construction Industry of Sonoma v. City of Petaluma (1976).

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8
Q

In which court case did the court hold that the city can limit single-family residences to 1-acre-minimum lots and exclude all future commercial uses.

A

Los Altos Hills v. Adobe Creek Properties (1973).

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9
Q

What are the three sources of relief from zoning regulations?

A

Using the legislative, executive, or judicial branch of the government to get relief from zoning restrictions.

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10
Q

Which famous Supreme Court case held that a court has no place in deciding whether zoning officials are zoning properly unless it is clear that their actions are arbitrary or irrational.

A

Nectow v. City of Cambridge (1927).

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11
Q

Which court case found four types of invalid applications of zoning to be 1) Exclusion of existing use 2) Creation of a monopoly 3) Renders land unsuitable for its purpose 4) Creation of zoning islands?

A

Wilkins v. San Bernardino (1946).

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12
Q

What are the criteria to have a Variance granted?

A

1) it will not have adverse affects on surroundings. 2) the property is special because of size, shape, topography, location of surrounds 3) owner is undergoing hardships

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13
Q

What is a Conditional Use Permit?

A

Special relief from zoning for the sake of “Public Interest”.

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14
Q

Which court case found that the board of supervisors are bound by the wording of its zoning ordinances and must disallow the conditional use permit for a church in a residential zone?

A

Tusin Heights Association v. Board of Supervisors

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15
Q

What does NEPA stand for?

A

National Environmental Policy Act of 1970.

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16
Q

What is the National Environmental Policy Act of 1969?

A

The strongest Federal-Level legislation that declares environmental protection to be a national policy to prevent and eliminate damage to the environment and biosphere. It requires that all federal agencies to prepare, file and consider an environmental impact statement before approval of action.

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17
Q

What does EQA stand for?

A

Environment Quality Act of 1970.

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18
Q

What is the Environmental Quality Act of 1970?

A

A California legislation that regulates hazardous material that most commonly controls property purchases. It is design to shift the burden of cleanup from the government to the property owners and potentially responsible partners.

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19
Q

Which court case found that a private development that required government permit and may have significant impact on the environment must submit an Environmental Impact Report per the EQA before issuance of the permit?

A

Friends of Mammoth v. Board of Supervisors.

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20
Q

What does CERCLA stand for?

A

Comprehensive Environmental Response, Compensation, and. Liability Act (aka “Superfund”).

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21
Q

What is California Superfund?

A

A California legislation that regulates hazardous material that most commonly controls property purchases. It is designed to shift the burden of cleanup from the government to the property owners and potentially responsible partners.

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22
Q

What is the prime exception to Superfund that states that anyone who bought contaminated property unknowing of its contaminations before purchase had no reason to know of the contaminations and who did not contribute to the contamination is not liable for the cleanup costs, which are shifted to the previous owners.

A

Innocent Land Owner Exception.

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23
Q

Which legislation is the second biggest exception to Superfund? hint: it encourages owners to purchase and restore contaminated property by shielding them from federal liability provided the new owner does not contaminate and also cleans up the property using the approved guidelines?

A

Brownfield Revitalization and Environmental Restoration Act of 2001.

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24
Q

What act is a California legislation that controls the sale of public land, that is already subdivided, by regulating the type of advertising and marketing that can be used?

A

The Subdivisioned Lands Act.

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25
Q

Which Act is a California legislation, executed by the city or county, that regulates. The physical design and development required for subdividing land and is uninvolved with the marketing and salability of completed subdivisions?

A

Subdivision Map Act.

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26
Q

What is a “Notice of Intention and Subdivision Questionaire”?

A

An application for subdivision in a form set by the Real Estate Commissioner that includes a lengthy questionnaire.

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27
Q

What Report is often known as the “Pink Report” issued by the commissioner that enables the developer to accept offers and deposits as fully refundable bids into a special escrow or trust account?

A

The Preliminary Subdivision Public Report.

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28
Q

What Report is often known as the “white” issued by the commissioner that finalizes approval to market and sell Subdivisions. this report must be given to each purchaser prior to signing of contract.

A

Final Public Report.

29
Q

What is a Subdivision as defined by the Map Act?

A

“The division by any subdivider of any unit or units of improved or unimproved land, or any portion thereof, shown on the latest equalized county assessment roll as a unit or contiguous unit for the purpose of sale, lease or financing, whether immediate or future.”

30
Q

Which document if issued allows for the subdivision into five or moe lots for “other situations” by local Ordinances.

A

Final Map.

31
Q

What is “Vested Right” when referring to zoning.

A

A right of an owner to proceed under the original zoning permit even if new zoning is contrary to usage.

32
Q

What does a Title Insurance Policy do?

A

Insures that title to real estate is free from defects in title, undisclosed liences, and adverse claims.

33
Q

Who regulates Title Companies?

A

The Insurance Commissioner.

34
Q

Which court case found that an Title Insurance, that excludes coverage for losses reslting from any legislaton or government act/restriction, is not held responsible when a property has lowered value due to its physical condition in violation with restrictions.

A

Hocking v. Title Insurance & Trust Co. (1951).

35
Q

What does CLTA stand for?

A

California Land Title Association.

36
Q

What does ALTA stand for?

A

The American Land Title Association.

37
Q

What document shows the status of the title and the legal description and is primarily used to discover clouds on title and other problems to resolve before close of escrow?

A

The Preliminary Title Report.

38
Q

In 1982, a major shift occured to Title company responsibilities, what was this shift?

A

Since 1982, title companies will not be liable for negligence in failing to disclose conditions about title.

39
Q

What document guarantees to list all necessary parties who must receive notice of foreclosure or they may not be bound by foreclosure. This document also describes all liens against the property and provides a legal descriptions.

A

Foreclosure Guarantee Reports.

40
Q

What document names all parties under litigation regarding property title?

A

Litigation Guarantee Reports.

41
Q

What document provides a list of all property of record owned by a person?

A

Name Run Reports (a.k.a. Real Property Guarantee Report).

42
Q

Does CLTA cover for Police Power?

A

No.

43
Q

Does ALTA cover for Police Power?

A

No.

44
Q

What institutions are exempt from requirement of being a licensed escrow corporation and still execute escrows?

A
  • Banks
  • Savings and Loans
  • Trust Companies
  • Insurance Companies
  • Certain Attourneys
  • Real Estate Brokers in limited situations
45
Q

What are the three essential elements of an escrow?

A
  • Irrevocable deposits of money or documents
  • under a valid and enforceable contract
  • calls for the deliver of money and documents trigged by certain conditions
46
Q

When conflicting, which prevails, the Escrow Instructions or the earlier Contract?

A

Escrow Instructions.

47
Q

Which court case found that partial money for the purchase value placed in an escrow does not satisfy the conditions to execte the escrow and the money is still the property of the buyer, if there is no written penalty of default?

A

Kellog v. Curry (1951).

48
Q

What does RESPA stand for?

A

Real Estate Settlement Procedures Act (a.k.a. Regulation X).

49
Q

What is Regulation X (RESPA)?

A

A federal legislation that:

  • simplifies the wording of settlement costs
  • requires borrows to be given good faith estimate of costs
  • prohibits kickbacks and other disalloweed fees.
50
Q

What is a “Special Agent”

A

An agent employed for a particular act or transaction.

51
Q

Why is Implied Agency so easily created even unintentionally?

A

Because consideration is not a requirement for the formation of an agency relationship, a gratuitous offer of assistance may bind a broker to the fiduciary obligations of an agent and create a liability for failure to act.

52
Q

What is an Ostensible Agency?

A

It is an agency that may arise when the principal negligently or intentionally causes a third person reasonably to believe that another is the agent.

53
Q

What are the 3 ways to end Agency relationships?

A
  • End of employment
  • Death or Incapacity
  • Revocation
54
Q

Which court case found that broker’s duties end upon close of escrow and the broker has no further duties towards that client?

A

Robinson v. Grossman (1997).

55
Q

Which court case held that even the operation of a rental data agency that merely supplies information about available rentals requires a real estate license?

A

Rees v. Dept. of Real Estate (1977).

56
Q

Which court case held that Real Estate Salespersons are employees?

A

Gipson v. Davis Realty Co. (1963).

57
Q

How many days does a Broker have to deposit principal’s money into a fund without commingling.

A

1 business day.

58
Q

From which groups/organizations are Brokers prohibit to receive a straight referral fee from?

A
  • Escrow company
  • Title Company
  • Pest Control
  • Lenders
59
Q

Which court case reversed a decision and found that it is appropriate for the Real Estate Commissioner to suspend a real estate licensee for commingling whether or not he/she had the intent to repay or cover damages.

A

De St. Germain v. Watson (1950).

60
Q

Which court case found it illegal for Brokers to to conceal any offers to their Principals, even unenforceable oral offers?

A

Duin v Security First National Bank (1955).

61
Q

If a Broker commits a tort under the principal’s instructions or within the course and scope of that agency, what happens?

A

The principal will be jointly and severally liable with the broker.

62
Q

What type of Fraud is committed when a Broker issues a false statement that the Broker believes to be true but has no reasonable gronds for his belief?

A

Negligent Misrepresentation.

63
Q

What type of Fraud occurs when a Broker suggests or states something that the Broker knows is untrue.

A

Intentional Misrepresentation.

64
Q

What type of Fraud is committed when a Broker hides defects in the property to prevent investigation and discovery?

A

Concealment.

65
Q

What type of Fraud is committed when a Broker chooses not to disclose any known material fact that a third person is ignorant of and unable to discover upon reasonable observation?

A

Nondisclosure.

66
Q

What type of Fraud is committed when a Broker fails to perform as he said he would?

A

False Promise.

67
Q

Which court case found that a broker who signs a contract without indicating agent status will generally be held liable as a principal?

A

Otis Elevator Co. v Berry (1938).

68
Q

Start Over

A

Start Over

69
Q

What is disintermediation?

A

The sudden flow of funds out of thirft institutions (which grant real estate loans) into the general money market (where real estate loans are not common).

70
Q
A

Real Estate (2 decks)

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