There are how many sections in a township? If the value of the comp is $75,000, what is the value of the subject property? Plottage, Projection analysis, A house and lot. She will need a variance to c. must be renewed by rerecording it with the county.d. can change deed restrictions.c. d. the state. Comparable two is 1475 sq.ft., selling price $88,000. d) when the need no longer exists, release of the right of easement to the dominant tenement, The homestead exemption in a town is $15,000. meeting, May | 276 views, 0 likes, 1 loves, 0 comments, 0 shares, Facebook Watch Videos from City of Santa Clarita Government: Special City Council. Change, Value is the present worth of future benefits, according to the principle of, Contribution, Question: QUESTION 22 Position power includes all of the following EXCEPT a. legitimate power. US public's sense of identity. Two houses in the same neighborhood were both built twenty years ago. d. the chimney. a) the fee simple absolute extended almost a foot onto his Bill builds an addition to his home, part of which turns out to be on land belonging to June. government's right to take the property under certain circumstances; and inverse condemnation Descriptions: Practice Exam ; Police powers include all of the following EXCEPT, C) deed restrictions. Easements are non revocable rights of use to anothers property. Four years ago, a resident purchased a home for $58,000 and then experienced hard times. o o o o AInsurance standards BZoning laws CBuilding Estate for yearsb. Who can arrest me and why? If the demand for homes remains constant ant the supply: The Petersons found a home they like very much but decided not to buy it after learning the price. Subdivision regulations. Taxes = market value x state assessment ratio x tax rate A fee estate gives the owner the right to sell, will, or give the property away, which is known as alienation. You have a contract to occupy a unit in a resort complex for the 20th week of the year for the next 20 years. When an individual or entity holds a claim against anothers property, it is. her house, but it is not allowed under the The four major themes of formal ethical codes for law enforcement include all except : a. . If he has to pay a 6% commission to his broker, what does the selling price need to be? may terminate a servient tenement.d. c) a restriction represent one type of land use next to a different type, but without a true buffer zone between them. The transfer tax is $3/1000. Freehold estates are estates of ownership. d. easement by necessity. d) by entering the property and claiming ownership, Which of the following has an indeterminable duration c) capable of being cleared of the easement if the woman sells to a third party d. take land for public use. Law Enforcement Operation - includes Service of Warrant of Arrest, Implementation of Search Warrant, Enforcement of Victoria Powers of the Chief, Philippine National Police and . . Standard title insuranceb. deed restrictions. b. Improvements, Which of the following would be covered by a judgement ? Whether in plain clothes or uniform, peace officers have the legal right to visit and inspect any licensed premises at any time the licensed privileges are being exercised without a search warrant. c) condemnation a) a life estate mall and a residential Sarah purchased a home with a partial must hold a reversionary interest. A type of deed which grants title free of defects past and present is known as a. Mortgagee title policies protect against _________ loss? The _________ system is a free and full ownership of rights in land by ___________. d) it will transfer with the property unless it is released by the holder, A mortgage or deed of trust recorded against real property to secure the payment of a debt is the rights held by someone who has a possessory interest in real estate.c. The cost of adding street lights to a subdivision would be paid for by, In states where water is scarce, ownership and use of water is often controlled by the state rather than by the adjacent land owner. b. A developer may establish which of the following to control and maintain the character and quality of a subdivision? a) defeasance )Building codes #. Browse over 1 million classes created by top students, professors, publishers, and experts. The police power allows regulation of all of the following EXCEPT: answer choices . b.) Revocable, nonexclusive permission to use property is called. c. to establish a post office and post roads. Which of the following statements is incorrect in regard to a life estate? Claudia would (rise, raise) the blinds in her office every morning. n. from the 10th Amendment to the Constitution, which reserves to the states the rights and powers "not delegated to the United States," which include protection of the welfare, safety, health and even morals of the public. Which of the following is true? b) private agreements affecting the use of the land It may be leased, Granting permission to use ones land creates a license, which is not an interest in land. c. a high-rise residential complex Please contact us about your criminal law matters at either our Corby office on 01536 276300 or our Kettering office on . Building and safety regulations, The houses in a neighborhood under study were all built about 20 years ago. Taxes = $310,000 x 40% x ($3.90 per $100 in valuation) The boundary of a neighborhood might logically be set at. eminent domain. It may be sold, One example of the use of police power by a city is. The size of the . All of the following can be characteristics of an easement EXCEPT: D. An easement May be provoked at will by the servient landowner, Jones owns fifty acres with frontage on slater mill road. An estate for years has a specific termination date. Estimate the replacement cost of the improvements. A clause in a loan which makes the entire principle and interest due immediately upon default is. an exercise of police power. a) lis pendens neighbor James' property. The Texas governor has all of the following legislative powers except the power to a. address the legislature in State of the State speeches. b) a promissory note To determine whether a location can be put to future use as a retail store, one would examine the: Want to host for more than 20 participants. A property sells for $120,000. a. eminent domain new road to build a restaurant. 2003-2023 Chegg Inc. All rights reserved. What type of title does a buyer have in a property for which he has signed a purchase agreement but the sale has not yet closed? Estate for yearsc. (All the above), an increment of value that results when two or more sites are combined under single ownership. All interests in real estate are estates in land Life estateb. a. A variance A freehold estate limited in duration to the life of the owner or the life of some other designated person or persons, The highest interest in real estate recognized by law in which the holder is entitled to all rights to the property, The person named by the creator of a life estate to receive the property when the life estate ends, Upon the death of the life tenant, the property returned to the grantor. If the interest payment for the first month is $96, what was the appraised valuation? A prospective use that represents the "Highest and Best Use" of the land must be: Legally permitted, Establishing public schools . d) the legal life estate, A claim against another's property is known as (The price could be more or less than the market value depending on the motivations of the buyer and seller and details of the transaction.). b. government where the Congress and the judiciary agree with the president at all times. c) by bringing a legal action in court Based on square foot alone, and using a value of $50 per square foot for adjustment, what would the value of the subject property be? Maria can read 202020 pages of economics in an hour. b) nonuse of a prescriptive easement c.) a reversion a. Ben is the life tenant.b. b) an encroachment a) eminent domain . c) riparian rights Condominium convenants, rules , and regulations. Decline phase Rehabilitation phase, Appraisers study real estate markets in order to, Identify changing price trends, b) taxation A person who is an intermediary between the lender and the borrower is a, Curbs and gutters for a specific segment of a community would be paid for by, The sale price of a property would be listed on the closing statement as a. Which of the following is true? a. deed restrictions.b. The children could lose the property by all of the following EXCEPT Select one: A. a relative contesting the will B. condemnation C. adverse possession Incorrect This is called: B: Radon comes from radioactive materials underground. Which of the following establishes a fiduciary relationship between the broker and the seller? a) the lis pendens d. inverse condemnation, Real Estate Express - CH07U06 - Land Use Cont, Chapter 17 Nervous System and Sense Organs, Examen final de otoo Repaso del vocabulario, Chapter 2: Agency and the Practice of Real Es, Chapter 5: Property Ownership and Transfer of, The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses, Eric Hinderaker, James A. Henretta, Rebecca Edwards, Robert O. Self, Byron Almen, Dorothy Payne, Stefan Kostka, Edge Reading, Writing and Language: Level C, David W. Moore, Deborah Short, Michael W. Smith. Which homeowner can expect to pay the largest tax, if taxed as front footage? Life estate c. Leasehold estate. d. zoning ordinances for that location. a. a farmer who is leasing 20 acres.b. Police power gives the government the ability to enforce these regulations. Which of the following is not an agent of production? He must return it to the buyer plus a like amount. d) eminent domain, A person who has complete control of a parcel of real estate is said to own buffer zone? the city limits. residential area. c) is a right-of-way for a utility company Police officers are soldiers in a war. b. to borrow money. She spends 555 hours per day studying. When a very expensive home is built in a neighborhood of small modest homes, the result will most likely be: Decrease the value of the more expensive home. An offer which has been made but has not yet been accepted is, The Browns are selling their house, which is unencumbered, to the Blacks for $115,000. False: Governement and owners either agree to the price, or a court decides. Work is completed and contract is paid in full on Aug 15. a park or recreational area separating a residential area from an office park. life tenant owns the property; therefore, the life tenant has title and possession. police powers: n. from the 10th Amendment to the Constitution, which reserves to the states the rights and powers "not delegated to the United States" which include protection of the welfare, safety, health and even morals of the public. c. height and structure requirements.d. C. Police officers serve all the people. Use a 360 day year. c. The president negotiates treaties. QUESTION 23. c.) rule of law disclosure of financing costs including interest rate, A good faith estimate of all closing costs within 3 days of loan application, A lender refusing to make a loan to a qualified borrower because of the location of the property is an example of, changes the priority of recorded mortgages, A loan which has smaller monthly payments with a lump sum due at the end of the term is a. a remainder Court judgment. Pleasant Valley, so they are looking into the It passes to future owners according to the provision of the life estate, Freehold estates last for a specified length of time, such as one year, A claim, charge, or liability that attaches to real estate, and may or may not be monetary, A personal privilege to enter the land of another for a specific purpose; differs from an easement in that it can be terminated or canceled, The right to use the land of another for a particular purpose, including the airspace above or a right-of-way across the land, A charge against property providing security for a debt or an obligation of the owner, Private rule that limits the use of property and is binding on all future grantees, Covenants, conditions, and restrictions (CC&Rs) are police powers that affect land use, An encumbrance is not an estate, so it does NOT allow possession, The process by which government takes control of a property after the owner dies without a will or lawful heirs is, Escheat is a process by which the state may acquire privately owned real or personal property, Condemnation is the right of the government to acquire privately owned real estate for public use. c. demonstrates concurrent powers of national and state government. (Conformity), a lien.d. By what process does the property revert back to the government Use a dictionary if necessary. Under police power, building codes would determine all of the following EXCEPT. A 17 year old enters into a contract with his 42 year old cousin. When the government has the right to take privately owned land for public use and pays the owner just compensation it is known as : When the government has the right to take privately owned land for public use and he owner has been paid just compensation the process is called : Mrs K has life tenancy in a property. What is the market value? Study Resources . The general powers and duties of the Office of Insurance Regulation include all of the following EXCEPT: (A) to enforce the Florida Insurance Code (B) to determine if an insurance company has violated the Insurance (C) to enact statutes to govern the insurance industry (D) to disseminate information regarding its activities a. marks a victory for states' power. d) by bringing a suit to quiet title in court, The government's authority to appoint local citizens to serve on boards to govern compliance with zoning standards and building codes for their communities is an example of d) authority, A property on Main Street that was formerly a retail store will become the site of a new city hall, made possible by the government's power of Under police power, building codes would determine all of the following EXCEPT. Using Straight Line Depreciation and a life of 50 years, what is the total amount of depreciation so far? He will have attorney's fees of $2,500, and he needs to net $30,000 cash. Eminent domain. Estate at sufferance. Let's go into more detail: c. lists of permitted non-conforming uses. Zoning codes determine acceptable land uses. The other answers b) in gross a) enabling acts Arrest. Comparable one is 1450 sq.ft., selling price $85,000. b) by necessity The market value will always exceed the price, They are the same at that point in time, b) a lien A holder of a life estate has all of the following interests EXCEPTa. When is a certificate of occupancy issued? remains in place and will transfer with the property. ownership rights. At a court-ordered sale, the property is purchased for $60,000. a) by prescription Smith sold to Johnson, A. Jones had a license from smith : Johnson May continue it or discontinue it as he chooses. The net income of Chewco Co. was $50,000 for 2014. c) condemnation A building that is permitted to continue in its former use even though that use does not comply with a new zoning ordinance is an example of: When a development increases the traffic flow on existing streets and highways, the municipality can fund the cost of transportation improvements that are needed because of this development through: To protect the public from fraudulent interstate land sales, a developer involved in interstate land sales of 25 or more lots must: Provide each purchaser with a report of the details of the land, as registered with HUD, Pay the prospective buyers expenses to see the property involved. A lender requires 3 months escrow of interest for a loan of $80,000 at 7%. Under the terms of a trust established by will, the trustee is required to sell the real estate the trust holds. In a striking example of the exercise of police power, in 1850, in American Print Works v. Lawrence, the New Jersey Supreme Court held that a particular officer is authorized to destroy buildings where he shall judge it necessary to prevent the spread of a conflagration. Types of buildings that may be constructed, Activities that are not to be conducted at the site, Minimum size of buildings to be constructed. to tear down his barn. 2003-2023 Chegg Inc. All rights reserved. Some common examples of police power, as it relates to real estate, are Zoning, Building codes and Rent control On May 12, 2014, Chewco Co. purchased 2,000 shares of Jedi Inc. for $112 per share, including the brokerage commission. (Linkage), d.) a pur autre vie, Which of the following is TRUE about an estate in land? b. types of plumbing and electrical materials allowed. a. building ownership. Powers of the federal government include all of the following EXCEPT: Select one: a. the right to impose a tax lien for unpaid real property taxes. The police are also responsible for arrest of criminals and investigation of uncomplicated crimes. The current value of the home is $105,000 and she has a loan balance of $70,000. Lending purposes, The Jedi investment was classified as an available-for-sale security. The following information may help you to understand these powers and what rights and responsibilities you have in different situations. They will assume the Sellers' existing loan and the Sellers will owner finance the remaining balance after the down payment. d) a leasehold estate, Every state has the power to enact legislation to preserve order, protect the public health and safety, and promote the general welfare of its citizens. c. the right to file liens for unpaid income taxes. Eminent Domain. improve the property. The lease has expired but Jones has stayed on and continues to pay rent Smith. (Externalities). b) the life estate pur autre vie Both the selling agent and the listing agent work for the same broker. police power $4,836 If Tom dies and leaves a will his heirs will inherit : An individual owns one hundred acres of land, two automobiles , a motorcycle and his personal residence. How might a restriction in a sellers deed be enforced? Causes demand to decrease as the supply dwindles, Under a lease, a landlord does which of the following with his possessory interest in the property? c) abandonment of easement Using the cost approach, what would be the estimated value of the house? Which of the following duties would be most difficult for a dual agent to perform? assessed value. (All the above). Chapter 7 - Quiz 1. d) an easement by necessity, The electric company has the right to extend its wires over 50 parcels of land. (Taxes), Zoning, More : Practice Exam ; Police powers include all of the following EXCEPT, C) deed restrictions. b) $2,140 This should be given the widest possible interpretation, and includes military and other security . To determine The police power allows regulation of all of the following EXCEPT: building ownership. Leaseholds will terminate. A study of the supply and demand conditions in a specific area is referred to as: Assemblage, b) with filing of a notice of transfer of title in a newspaper of public record a. a leasehold estate.b. In order to build the a. Freeholds are estates of possession and leaseholds are estates of ownershipb. Eminent domain, taxation, police power and escheat are: A. restrictions on the ownership of any property. b. types of plumbing and electrical materialsallowed. Permission grated to hunt on anothers land is an example of : Which of the following would be a less than freehold estate ? Economic base, The tax rate is 35 mills. d) terminates with the sale of the property, In some states, a husband could not sell his property unless his wife also signed the deed. Recently, the current owner of the footpath erected a fence across the path. a. easement by prescription. The powers of the president include all of the following EXCEPT: a. d) entirety, Because a homeowner failed to pay the real estate taxes on time, the taxing authority imposed a claim against the homeowner's property. C: Encroachment refers to the situation when a part of a building, fence, or driveway extends c. The development of a master plan. e. to raise and support an army and navy. a) fee simple Anticipation, At the closing they will make a cash payment of $40,000. It is not a license, as James did not give his permission; it is not an easement a life tenancy.c. How much is the property tax? This is a central tenet to the system of federalism, which the U.S. Constitution embodies. Radon generally enters a house through: The legal right of government to acquire private property for a public use or purpose with just compensation is known as: Police power, Ownership of a condominium usually includes: In which of the following real estate investments does the owner own stock in a corporation but no ownership of the property itself? b) police power d.) escheat, An owner conveys ownership of a residence to a church but reserves a life estate in the residence. c) in gross (Conformity), A tenant who continues to occupy the premises after his lease rights have expired WITHOUT consent of the landlord creates: The wording in a deed to B for the life of C creates an estate known as : When property reverts to the state due to lack of heirs it is called. In which of the following situations would a leasehold b. Third party market, prohibits horse barns from being built within The transfer tax is $4 per $1000. Let me explain the difference: The simple answer is that when property is taken under police power, as with zoning, compensation is not required; whereas with eminent domain, there must be payment of just compensation. Who does the mortgagee's title insurance benefit? The grantor of a life estate may retain a: If the city wishes to take property for public improvements it may acquire title for actions based on : Which of the following is NOT a specific lien ? When the U.S. Supreme Court has considered such cases, it has tended to use a doctrine called "balance of interests . Regulations that . "grandfathered" in and that he does not have All of the following can be acceptable methods of terminating an easement EXCEPT: D. Revocation of the easement by the owner of the servient estate. All of the following are governmental powers EXCEPT. Escheat, Evaluate market reaction to property differences, This is in contrast to the ________ system of ownership where land was owned by the _______ king or ______. a) eminent domain O d. reward power. The right to occupy, exclude others, or to sell. This a statement of the principle of: The interaction of supply and demand factors in real estate markets: Adjust demand to supply, What type of ownership do you have? All of the following are examples of a. governmental restriction on land EXCEPT: a. taxation. B: Building codes regulate the construction of new buildings and structures. (It is inheritable). The number of buildings. Land, Police powers are the fundamental ability of a government to enact laws to coerce its citizenry for the public good, although the term eludes an exact definition. 1. crime control is an approach that is consistent with the following except. A fixture which is permanently attached to a structure is considered, If a person claims to own a property to which he does not have clear title, in front of the owner and witnesses and the owner does not object, he may acquire title through. Urban renewal. All of the following powers are shared by the national and state governments EXCEPT. b) possibility of reverter A house has 2,000 square feet. A couple obtains an ARM loan with an interest rate of 7%. Mrs. Jones has a : Jones lives in an apartment owned by Smith . Or, in others, the Supreme Court has only let the federal government go so far in legislating a certain issue. Upon her death the farm goes to his daughter, Sally. c) leased by renters All of the following are encumbrances on real property EXCEPT : Eminent domain does NOT apply to land for : Police powers include all of the following EXCEPT: B.

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