At a minimum, all deeds contain what four (4) clauses?

Name the five (5) covenants made by a grantor in a general warranty deed.

Name six (6) fiduciary duties owed by an agent to a principal.

Name four (4) duties owed by a principal to his or her agent.

Real estate brokers are fiduciaries. True or false

Real estate brokers are universal agents. True or false

All real estate agents and brokers are realtors.

All real estate brokers are real estate agents. True or false

All real estate agents are real estate brokers. True or false

The person in possession of a Tenancy for Years has actual ownership (all 4 ownership rights) of the property for a designated period of time. True or false

A fee simple absolute may be transferred by will. True or false

A life tenant may sell his/her interest to another person during the period of time the life estate is in effect. True or false

A life estate may be transferred by will. True or false

A Tenancy by the Entirety requires the owners to be husband and wife. True or false

Define and describe the difference between a condominium and a cooperative.

List the four (4) methods of acquiring real property.

What is a deed?AND, list the four (4) most common deeds.

At common law, the owner of a life estate could use the real property in any lawful manner so long as s/he did not commit waste.Define "waste,"and list three (3) types of waste,describing each ANDgiving an example of each type. Which type is permitted and which two are not?

What is "adverse possession?" To qualify as an adverse possession, what five (5) elements must be presentwith a brief description of each?

At the end of a life estate tenancy, the property will be subject to either areversion or aremainder. What is the difference?

At times, parties to a contract of sale or lease of real property dispute whether or not an item is a fixture that must remain with the property. While every state, through statute or case law, indicates how to resolve such matters, in general,the judicial test for determining whether or not an item is a fixture addresses what four (4) factors?

What is a fixture?AND Give one example each of a "domestic fixture" and a "trade fixture."

List the four (4) basic ownership rightsand give a brief description or example of each.

A Real property includes:

A land and things permanently attached to land

B homes, garages, and other buildings

C in-ground swimming pools

D minerals in the ground

a & b, but not c or d

a, b, c, and d

Which type of estate entitles its owner to "total ownership" with 100% rights and privileges to the property?

Group of answer choices

Tenancy for Years

Real Estate

Fee Simple Absolute

Life Estate

What constitutes ownership by two (2) or more persons where each owns a certain proportion of the property and right to enjoy the whole without right of survivorship?

Group of answer choices

Tenancy for Years

Joint Tenancy

Tenancy in Common

Tenancy by the Entirety

What constitutes ownership with right of survivorship where two (2) or more (not necessarily related) persons each have an undivided ownership interest in property?

Group of answer choices

Tenancy of Years

Joint Tenancy

Tenancy in Common

Tenancy by the Entirety

Who may make a deed?

Group of answer choices

any adult

a competent adult who is of sound mind

any minor or adult who is of sound mind

any adult who has hired a real estate attorney

Real estate contracts are required to be in writing in order to satisfy the terms of the:

Group of answer choices

Statute of Limitations

Codes

Statute of Frauds

Statute of Fraudulent Contracts

Rule Against Perpetuity

John enters into an oral contract with Sam to purchase land for $50,000. No money changes hands. When Sam then sells the land to Rachel, John may:

Group of answer choices

successfully sue Sam to enforce the contract

successfully sue Sam for breach of contract

not enforce the contract because it was not in writing

receive punitive damages

both a & b