Exam 18: real property and land use

A one-point charge will generate a fee of ________ on a loan of $10,000.

A sublease is legally the same thing as an assignment of a lease.

A ________ is the right,conferred by a written contract,to purchase property on the same terms offered by or to a third party.

In a(n)________,the potential buyer pays the seller for the right,but not the obligation,to purchase the property during a given time period.

Bob is selling his home.During the inspection with his broker,Bob discovered that some of the pipes in the walls had developed tiny leaks.The cost of fully repairing this condition would cost thousands of dollars and take approximately three months.Instead,Bob verbally represented to each and every buyer that the house was "in great shape" and "had no problems." Carl bought Bob's house; and six months after the deal closed,a pipe broke causing ten thousand dollars in damages.What remedies does Carl have against Bob regarding the sale of the house? Discuss fully.

A ________ gives a person the right to negotiate the purchase of the property before the seller enters negotiations with another party.

In relation to notice in connection with a property interest,courts may find _______notice if a reasonable inquiry would have disclosed a prior interest.

Which of the following is not a type of recording statute?

A trust is a form of co-ownership of property.

Until a developer obtains a _______ right,meaning a fully guaranteed right,to develop a property,the regulation governing that property may be changed.

Real estate law has its roots in both English common law and Spanish civil law.

The conveyance of a ________ interest conveys absolute ownership of real property.

A warranty of _______ is applied in a minority of jurisdictions and involves a warranty at the inception of a commercial lease that there are no latent defects in the premises that will prevent the premises from being used for its intended purpose and that the premises will remain in a suitable condition.

Under a race recording statute,the first person to receive a valid deed will be deemed the owner of the property.

The ownership interests of tenants in common are by definition equal.

A ground lease is a very long-term lease.

Sales of real property interests to nonresident aliens may be regulated by the state but are not regulated by the federal government.

As a general rule,a real estate broker may act for more than one person in a real property transaction without the knowledge of all parties to the transaction.

The type of deed used by the seller determines the scope of the warranties the buyer is given.

What must a person do to acquire a parcel of land by adverse possession?