1. A homeowner is considering installing an underground swimming pool, which may cost many thousands of dollars to build. What concept should the homeowner consider? a. Change b. C... 1. A homeowner is considering installing an underground swimming pool, which may cost many thousands of dollars to build. What concept should the homeowner consider? a. Change b. Competition with the neighbors c. Conformity within the neighborhood d. Contribution 2. In August, a tenant signs a one-year lease in apartment complex and moves in. Rent payments are due on the 15th of each month. On December 12th, the apartment complex is sold to a new owner. On March 14th, the building burns. Which of these statements accurately describes the tenant's obligations? a. The tenant is not required to continue paying rent after March 14th because the premises have been destroyed. b. The tenant is not required to continue paying rent after December 12th because the sale voids the preexisting lease. c. The tenant is required to continue paying rent for the full lease term because a tenancy for years cannot be terminated by the destruction of the premises. d. The tenant is required to continue paying rent, but the residential lease is converted by law into ground lease. 3. Which of these is NOT an example of a physical characteristic of land? a. Uniqueness b. Immobility c. Indestructibility d. Situs 4. Why are deeds, liens and other claims recorded? a. To give actual notice. b. To give direct notice. c. To give constructive notice d. To give nominal notice. 5. What amount may the Commission charge for a criminal record search? a. $25 b. $30 c. $50 d. $100

Question image

Understand the Problem

The questions pertain to concepts in real estate, such as homeowner obligations, tenant rights, characteristics of land, and legal procedures regarding property. They seek to assess knowledge in these areas.

Answer

1. Change; 2. a; 3. Situs; 4. To give constructive notice; 5. $50
  1. Change; 2. The tenant is not required to continue paying rent after March 14th because the premises have been destroyed; 3. Situs; 4. To give constructive notice; 5. $50
Answer for screen readers
  1. Change; 2. The tenant is not required to continue paying rent after March 14th because the premises have been destroyed; 3. Situs; 4. To give constructive notice; 5. $50

More Information

The answers cover various real estate concepts including the importance of change for improvement projects, tenant obligations during destruction of premises, physical characteristics of land, the purpose of document recording, and fees for criminal record searches.

Tips

Confusing 'situs' as a physical characteristic is common. Remember, situs refers to location or preference, not a physical trait.

Sources

AI-generated content may contain errors. Please verify critical information

Thank you for voting!
Use Quizgecko on...
Browser
Browser