Question 1

Hybrids still require associations and CC&Rs.

Accepted Answer

A) True 
 B)False

Question 2

A time-sharing interest can only be a lease.

Accepted Answer

A) True 
 B)False

Question 3

A proprietary lease:

Accepted Answer

A)  Is for perpetuity or a long period. 
B)  Includes a provision for rent. 
C)  Governs time-share ownership. 
D)  Governs condominium ownership. 
A)  Is for perpetuity or a long period. 
B)  Includes a provision for rent. 
C)  Governs time-share ownership. 
D)  Governs condominium ownership.

Question 4

In which of the following forms of multi-unit housing does the owner not own real property?

Accepted Answer

A)  Condominium 
B)  Co-op 
C)  Townhouse 
D)  Hybrids 
A)  Condominium 
B)  Co-op 
C)  Townhouse 
D)  Hybrids

Question 5

Most states place limitations on association foreclosures for nonpayment of monthly fees by owners.

Accepted Answer

A) True 
 B)False

Question 6

When is it possible to have removal of a condominium owner?

Accepted Answer

A)  For non-payment of association fees' 
B)  For alterations without board approval 
C)  For creation of a nuisance or public health reasons 
D)  For injury of a visitor in the owner's unit 
A)  For non-payment of association fees' 
B)  For alterations without board approval 
C)  For creation of a nuisance or public health reasons 
D)  For injury of a visitor in the owner's unit

Question 7

​Flowing Stream Townhouse Development's homeowners' association has adopted a rule that no owner can sell or lease his or her unit to a Tier 3 registered sex offender. Alice Strom is a Flowing Stream owner who has sold her townhome to a registered Tier 3 sex offender. The homeowners' association board has refused to allow the buyer to move into his townhome and has obtained a court injunction prohibiting his taking occupancy.
-Which of the following factors will the court consider in determining the validity of the rule?

Accepted Answer

A)  Whether such rules will serve to exclude a group of citizens from being able to own a home 
B)  How long the rule has been in place 
C)  Whether Alice had actually read the rule 
D)  Whether the real estate broker in the sale disclosed the rule 
A)  Whether such rules will serve to exclude a group of citizens from being able to own a home 
B)  How long the rule has been in place 
C)  Whether Alice had actually read the rule 
D)  Whether the real estate broker in the sale disclosed the rule

Question 8

Time-sharing interests can be fee simple interests.

Accepted Answer

A) True 
 B)False

Question 9

Discuss the liability of a builder for defects in common areas vs. units in a condominium project.

Accepted Answer

?Builder has same li

Question 10

Turn-offs of services must be authorized in the bylaws to be a means of enforcement of assessments.

Accepted Answer

A) True 
 B)False

Question 11

Associations can recover from developers for defects in construction in the common areas.

Accepted Answer

A) True 
 B)False

Question 12

An architectural control committee:

Accepted Answer

A) Is created by the bylaws for a condominium project. 
B) Expires when the developer completes the condominium project. 
C) Has authority only over the common areas. 
D) Has no authority until owners approve its decisions. 
A) Is created by the bylaws for a condominium project. 
B) Expires when the developer completes the condominium project. 
C) Has authority only over the common areas. 
D) Has no authority until owners approve its decisions.

Question 13

A co-op owner cannot be removed from his or her unit through eviction processes.

Accepted Answer

A) True 
 B)False

Question 14

Developers are responsible for pre-conversion expenses.

Accepted Answer

A) True 
 B)False

Question 15

The air space above a condominium:

Accepted Answer

A)  Is owned by the individual condominium owner. 
B)  Is a common area. 
C)  Is not a real property interest. 
D)  Does not include transfer rights. 
A)  Is owned by the individual condominium owner. 
B)  Is a common area. 
C)  Is not a real property interest. 
D)  Does not include transfer rights.

Question 16

Which of the following is not a hybrid?

Accepted Answer

A)  A form of ownership that combines features of various forms of multi-unit housing 
B)  Patio homes 
C)  Garden homes 
D)  Timeshare interests 
A)  A form of ownership that combines features of various forms of multi-unit housing 
B)  Patio homes 
C)  Garden homes 
D)  Timeshare interests

Question 17

Who has liability for injuries to visitors that occur in condominium common areas?

Accepted Answer

A)  No one is liable 
B)  The maintenance firm only 
C)  The condominium association 
D)  Developers 
A)  No one is liable 
B)  The maintenance firm only 
C)  The condominium association 
D)  Developers

Question 18

​What is the purpose of an architectural control committee?

Accepted Answer

​To maintain uniform

Question 19

Transfer restrictions on co-op interests are invalid.

Accepted Answer

A) True 
 B)False

Question 20

Discuss the differences and similarities between a condominium, townhouse and cooperatives.

Accepted Answer

Condo - actual ownership of area in unit

Exam 11: Real Estate Communities: Multiunit Interests and Owners Associations

Hybrids still require associations and CC&Rs.

A time-sharing interest can only be a lease.

A proprietary lease:

In which of the following forms of multi-unit housing does the owner not own real property?

Most states place limitations on association foreclosures for nonpayment of monthly fees by owners.

When is it possible to have removal of a condominium owner?

Time-sharing interests can be fee simple interests.

Discuss the liability of a builder for defects in common areas vs. units in a condominium project.

Turn-offs of services must be authorized in the bylaws to be a means of enforcement of assessments.

Associations can recover from developers for defects in construction in the common areas.

An architectural control committee:

A co-op owner cannot be removed from his or her unit through eviction processes.

Developers are responsible for pre-conversion expenses.

The air space above a condominium:

Which of the following is not a hybrid?

Who has liability for injuries to visitors that occur in condominium common areas?

​What is the purpose of an architectural control committee?

Transfer restrictions on co-op interests are invalid.

Discuss the differences and similarities between a condominium, townhouse and cooperatives.

Sources of Real Estate Law

Land Interests: Present and Future

Extent of Real Estate Interests

Nonpossessory Interests in Real Estate

Fixtures

Liens

Describing Land Interests

Co-Ownership of Real Estate

The Landlord-Tenant Relationship

Commercial Leases

The Brokers Role in the Transfer of Real Estate

The Purchase Contract

Methods of Transfer and Conveyance in Real Estate

Financing in the Transfer of Real Estate

Closing the Deal

Transferring Real Estate After Death: Wills, Estates, and Probate

Zoning

Constitutional Issues in Real Estate

Environmental Regulation and Sustainability

Legal Issues in Land and Economic Development

Tax Aspects of Real Estate Ownership and Transfer

Filters

What is the purpose of an architectural control committee?