Real Estate Law
In order for a mobile home to become real property, A.) the wheels must be removed, a concrete foundation must be built and it must be fastened to the foundation. B.) the wheels must be removed, the mobile home must be fastened to a foundation and the Certificate of Title for the Mobile Home must be surrendered to the auditor of the county in which the mobile home is located. C.)the wheels must be removed. D.)the wheels must be removed and a concrete foundation must be built.
B
Another name for a Land Contract is Bill of Sale. Certificate of Title. Contract Forfeiture. Contract for Deed.
Contract for Deed
Personal property can never be changed to real property. True or False?
False
Personal property, personalty, and chattels are names for items permanently attached to real property.
False
Rosie and Jasmine, daughter and mother, hold their real estate together in a statutory survivorship tenancy. Jasmine dies, leaving no will. Both Rosie and her husband survive Jasmine. Which of the follow is true? The Ohio statute of intestate distribution will cancel out the statutory survivorship tenancy. Rosie's husband cannot have any dower rights in Jasmine's share, which now passes to Rosie. Jasmine's half of the realty passes to Rosie, and Rosie's husband has dower rights in the real estate. The statutory survivorship tenancy between Rosie and Jasmine was invalid, because Rosie, as a married woman, had no legal right to purchase realty with anyone other than her husband.
Jasmine's half of the realty passes to Rosie, and Rosie's husband has dower rights in the real estate.
Mary and David each have children from previous marriages. If Mary and David own real estate together, as statutory survivorship tenants, and then Mary dies, survived by David, this will take place: Both David's and Mary's children will get Mary's half interest in the property. Mary's share will pass to David, and none of the children will get a share. Mary's children will only get Mary's half interest in the property. David's children will only get Mary's half interest in the property.
Mary's share will pass to David, and none of the children will get a share.
Following an escrow closing of your seller - Sally Jones' - transaction, Sally calls you, confused and angry at some of the entries on the HUD Settlement Statement. What should you do? Hang up the phone on Sally. It's not your problem. Refer Sally to the person who prepared this Settlement Statement: the escrow agent. Tell Sally, "Hey, I'll get back to you. Let me think about this situation for a while." Immediately take Sally's "side" and, yourself, call up the escrow agent and start arguing how Sally's been overcharged, wronged, etc.
Refer Sally to the person who prepared this Settlement Statement: the escrow agent.
A tenant is validly paying rent into court, yet the landlord continues to refuse to remedy the deplorable condition of the premises. Which is true? The tenant can bring foreclosure proceedings against the landlord. If the tenant keeps paying and resides there long enough, they can get ownership away from the landlord. The court is powerless to do anything other than receive the rent and let the tenant remain in the premises. The tenant can apply for a court order that will direct the landlord to remedy the condition, or be held in contempt of court.
The tenant can apply for a court order that will direct the landlord to remedy the condition, or be held in contempt of court.
A fixture is another name for something that is permanently attached to real property. True False
True
The proper procedure for an Ohio landlord to use to evict a residential tenant who has failed to pay the agreed rent or who, otherwise, has breached the lease or rental agreement is... an action for specific performance a forcible entry and detainer action a foreclosure action to bar the tenant from returning to the leased premises an action for breach of contract
a forcible entry and detainer action
The current possessory right held by one who has a life estate interest in real property
a freehold estate
Which of the following is not a potential legal problem? a grantee's receiving a general warranty deed a trustee's failing to sign a fiduciary deed an improperly executed deed non-release of dower, when a grantor is married
a grantee's receiving a general warranty deed
Which is a present interest in real estate? a remainder a fee simple conditional a right of reverter a life estate
a life estate
An owner wants to transfer their land to the Village to be used as a public park. But if the Village ever tries to use the land differently, then the owner wants it to go to their heirs. The owner should grant the Village a... a profit an estate for years a qualified fee a license
a qualified fee
Under most real estate purchase contracts, this will prevent the closing of the transaction: a delay in the purchaser's job transfer into town a delay in completion of construction of the seller's new home a seller's spouse, refusing to release their dower interest a dispute between real estate brokers over the commission
a seller's spouse, refusing to release their dower interest
This tenant is holding-over, after the expiration of their tenancy, without the landlord's consent. They are... a tenant at will a periodic tenant a life tenant a tenant at sufferance
a tenant at sufferance
If someone trespasses long enough, they can become the owner of a property through a process called easement by prescription. quit claim deed. adverse possession. open and notorious use.
adverse possession
When the purchaser/grantee asks the real estate salesperson for a recommendation as to how to take title, the real estate salesperson should... advise the purchaser to check with their banker for a recommendation advise the purchaser how to take title, based on the salesperson's experience in the field advise the purchaser to check with their insurance agent for a recommendation advise the purchaser to check with their attorney and/or estate planner for a recommendation
advise the purchaser to check with their attorney and/or estate planner for a recommendation
Land used to raise crops and animals is referred to as residential property. commercial property. industrial property. agricultural property.
agricultural property
An invalid lease may be enforced, if the tenant has partially performed it. Partial performance is... payment of rent possession of the premises improvements to the property all of the above
all of the above
The real estate purchase contract need not have... an earnest money payment signatures of purchase and seller an offer and acceptance a writing
an earnest money payment
The disinterested third party that is required for an escrow agent is likely to be this individual: the seller's attorney the seller's real estate broker the buyer's attorney an employee of a title company
an employee of a title company
A deed that prohibits the sale of the land to non-whites is an example of... zoning power a valid deed restriction an invalid deed restriction all of the above
an invalid deed restriction
Declarations of restrictions, recorded by a developer are... public land use controls private land use controls matters of public record b and c, only all of the above
b and c, only
If an owner of a piece of property passes away and leaves no heirs, the property be transferred to the State of Ohio by escheat. will most likely just deteriorate and eventually fall down. be transferred to the probate court of the county the property is located. be taken for public use through eminent domain.
be transferred to the State of Ohio by escheat
The process by which a transaction is consummated, documents are signed, and money changes hands, sometimes called settlement.
closing
Land that is used for the purpose of business such as offices, stores and the like is referred to as residential property. agricultural property. commercial property. industrial property.
commercial property
Another name for a qualified fee estate.
defeasible fee estate
Qualified Fee Estates are also know as defeasible fee estates. future interests. reversionary interests. indeterminable.
defeasible fee estates
While a land contract is in place on a property, the vendee has full ownership and the right to do as they please with the property. a large tax burden. equitable title to the property. nothing but an obligation to pay for the property.
equitable title to the property
This method of termination is commonly used for written leases that have specific beginning and ending dates, and no provision for any renewals: expiration constructive eviction notification abandonment
expiration
A Title Guarantee is a superior form of title evidence, as compared with an Owner's Fee Policy of Title Insurance. True False
false
A city's zoning ordinances are not entitled to any presumption of legitimacy. True False
false
A counteroffer is more binding than an offer. True False
false
A deed must be dated to be valid. True False
false
A township must allow some light industrial uses of land within its zoning resolutions. True False
false
All states tax all transfers of real property, via conveyance fee taxes. True False
false
Eminent domain puts the use of land into a highest-and-best-use mode. True False
false
Expandable condominiums shift the original percentage of interest of common area ownership, as a part of the expansion. True False
false
Federal law is controlling in condominium law. True False
false
For those who wish to minimize the involvement of Probate Court in their post-death affairs, tenancy in common is preferable to statutory survivorship tenancy. True False
false
If a mother makes her daughter a statutory survivorship coowner, the daughter has no present rights in the realty; but only gains rights in the future, when the mother dies. True False
false
If grantors own their real estate in a tenancy by the entireties, they may only convey an estate by the entireties to their husband and wife purchasers. True False
false
In an escrow closing, the purchaser and seller must present themselves personally to the escrow agent, to sign the standard conditions of escrow agreement. True False
false
In order for deed restrictions to be valid, they must be printed on a recorded deed itself. True False
false
Inadequacy of consideration is a defense to enforceability of a contract. True False
false
Life Estates have no value. True False
false
Property that is subject to Aunt Sally's life estate can not be sold until Sally dies. True False
false
Statutory survivorship tenancy can only be used with co-owners who are related either by blood or by marriage. True False
false
The individual who signed the purchase contract as purchaser automatically becomes the grantee. True False
false
The landlord is responsible for any injuries to any persons who are physically on the rented/leased property, for whatever reason. True False
false
The marital status of the grantees must be indicated on the deed, to bring to light any potential spouses'-rights-in-the-real estate considerations. True False
false
The remedy of "self-help" is available to Ohio landlords, whenever a tenant is at least three months behind in rental payments. Using this remedy, landlords can change the locks on a tenant's premises; clean out all their stuff; and leave it on the tree lawn for the tenants to do with, as they choose. True False
false
When a life tenant dies, the subject property becomes the fee simple estate of the life tenant's heirs. True False
false
When real property is held in severalty, more than one person is involved as an owner. True False
false
Written notices must be given to all tenants by landlords, before an eviction action can be filed in court. True False
false
The most complete ownership of property; one in which the owner holds all of the available rights to the property.
fee simple absolute
An ancient ceremony that was once used to transfer ownership of real property and to preserve the knowledge that the transfer took place; the modern equivalent is the closing
feoffment
Which of the following is a valid public purpose, for which land can be taken: for use as a country club for an expansion of the local Jewish Community Center for use as a hydro-electric dam by the local utility provider for office space for the American Civil Liberties Union
for use as a hydro-electric dam by the local utility provider
Real property can voluntarily be transferred by all of the following except sale. contract for deed. foreclosure. gift.
foreclosure
A purchaser/vendee enters into a land contract with a seller/vendor (calling for a zero percent down payment). The purchaser loses his job and, three months into the deal, defaults on the contract. A likely result is... all of this are correct. forfeiture by the seller/vendor forfeiture by the purchaser/vendee bankruptcy by the seller/vendor
forfeiture by the purchaser/vendee
A right that gives the interest holder the right (or potential right) to possess the property in the future.
future interest
From the grantee's attorney's point of view, the deed that will be best for their client is usually the... quitclaim deed general warranty deed special warranty deed community property deed
general warranty deed
Involuntary transfer of real property would include all of the following except adverse possession. foreclosure. gift. eminent domain.
gift
Both zoning laws and a deed restriction could prevent this use of land: traveling on a county road surfing the Internet with your laptop computer, while sitting in a tree house in your backyard writing poetry in your bedroom having a stable with your own horses
having a stable with your own horses
The tests for determining if an item is a fixture includes all of the following EXCEPT: adaptation to use. the method of attachment. how much the item cost. intent of the person attaching the item.
how much the item cost
An attorney-at-law can personally sign a deed for their client - the seller/grantor - under which of these conditions: if the seller/grantor is deceased an attorney-at-law automatically has the right to sign any and all papers for their clients if the attorney has a written power-of-attorney from the seller/grantor, authorizing such signing if the seller/grantor orally tells them to sign
if the attorney has a written power-of-attorney from the seller/grantor, authorizing such signing
Rosie Thorn, an adult, lives with her mother, Jasmine. (They love to garden.) They both own the real property, and the only way they could not own the real property together is... in severalty as statutory survivorship tenants as tenants in common as joint tenants with rights of survivorship
in severalty
Land that is used in the manufacturing of goods is an example of residential property. agricultural property. commercial property. industrial property.
industrial property
A seller who was contemplating engaging in "owner's financing" with a prospective buyer would be wise to... only do the deal if they can - somehow - get a higher rate than the usury laws would allow forget the whole idea; it's a dangerous and stupid thing to do rely solely on the representations of the buyer and their real estate agent, as to the buyer's creditworthiness and ability to pay, as promised investigate the buyer's creditworthiness fully, before going ahead with the deal
investigate the buyer's creditworthiness fully, before going ahead with the deal
A current right to possess and use real property for so long as that person is alive.
life estate
The owner of a fee simple estate conveys their real estate to another, while retaining a life interest for themselves. The estate they are keeping is a... homestead life estate remainder dower mansion
life estate
A life estate measured by the life of another; typically created when a life estate interest is sold.
life estate pur autre vie
The current possessory right held by one who has a life estate interest in real property.
life interest
A concept from the feoffment ceremony that is roughly equivalent to "delivery of possession." The new owner thereby is able to "seize" or hold the property.
livery of seisin
In a life estate, the person whose life will determine the duration of the right to possess the property.
measuring life
In order to have a valid transfer of real property, the grantor must deliver the deed and the grantee must accept it. reject the deed. acknowledge it. sign the deed.
must accept it
A female and her male companion own real property equally, as statutory survivorship tenants. Each may not... sell his or her interest, without the consent of the other tenant get married and give a spouse dower rights, without the consent of the other tenant pass their interest by a will oust the other tenant from use and possession of the property
oust the other tenant from use and possession of the property
Three families have owned a large piece of acreage with a vacation home for a number of year. One of the families is going through a divorce and want the other two families to buy their portion. A price cannot be agreed upon. The divorcing family can file an action with the court of common pleas. That action is know as.... Sour grapes Inverse Condemnation. Eminent Domain. Partition
partition
The delivery of a warranty deed... guarantees the title insures the title gives constructive notice of ownership passes the title
passes the title
Multi-family housing is... required by federal law to exist in every community in the U.S. potentially, an efficient way to let a lot of people enjoy the benefits of only a little bit of land limited to occupants being related by blood or marriage one way to get more people into a single living unit than would be safe and healthful, based on the local zoning code
potentially, an efficient way to let a lot of people enjoy the benefits of only a little bit of land
A right that gives the interest holder the right to currently possess the property.
present interest
A possessory estate that places some restrictions on the use of the property, such as property that is given to a city, but on the condition that is only used for a park. If the city tries to use the property for some other purpose, the grantor (or the grantor's heirs) can act to regain ownership and possession of the property.
qualified fee estate
Which of the following is a commonly prorated item in the closing of real estate transactions? the attorney's fee for preparing the deed the real estate commission the cost of a professional property inspection, ordered by the purchaser real estate taxes, both general and special
real estate taxes, both general and special
If Rosie had a husband, he could... use his community property rights against both Rosie and Jasmine sue Jasmine for wrongful coownership bring a partition action against Rosie for leaving him out receive dower rights in this real estate
receive dower rights in this real estate
The future interest that follows a life estate.
remainder
Single family homes, duplexes, apartment buildings are all examples of commercial property. industrial property. agricultural property. residential property.
residential property
The power to withdraw a counteroffer... ends after 48 hours rests with the counter-offeror must have a time limit rests with the counter-offeree
rests with the counter-offeror
The power to reject an offer... rests with the offeror rests with the offeree must have a time limit ends after 48 hours
rests with the offeree
When the landlord tries to evict a residential tenant, because the tenant has acted lawfully against the landlord, this is: abandonment constructive eviction retaliatory eviction caveat emptor
retaliatory eviction
The future interest that follows a qualified fee estate.
reversionary interest
A rule from a case in the 16th century that treated creating a life estate in A, with the remainder in X.s heirs as a transfer of fee simple absolute to A. This situation originally dealt with a scheme to avoid taxes on the transfer. Ohio abolished the Rule in Shelley's Case in 1953-thus, a life estate in A with the remainder in X.s heirs will not now be treated as a transfer of fee simple absolute.
rule in shelley's case
When a purchaser will also need his wife's income to qualify for the mortgage loan, he should... get co-signatures to the purchase contract, by his wife's parents put a time-is-of-the-essence clause in the purchase contract put a condition in the purchase contract, regarding the sale of the purchaser's own home first sign the purchase contract with his wife, and put a financing condition in the contract that will cover this need
sign the purchase contract with his wife, and put a financing condition in the contract that will cover this need
A real estate listing contract that is missing this term is so incomplete as to make it invalid and unenforceable... the amount of the asking/listing price a reference to a broker's presenting only conventionally-financed offers the date the real estate agent signed the contract a seller's warranty of the marketability of the title
the amount of the asking/listing price
All of the following are fixtures, except... the paddock fence and stable, for the three horses, out back. the bone china stored in the free-standing china cabinet in the dining room. the lava stone fireplace in the master bedroom. the built-in closets in the laundry room
the bone china stored in the free-standing china cabinet in the dining room
Typically, the most expensive proof of title is... the attorney's opinion letter the title guarantee the fee policy of title insurance the abstract of title
the fee policy of title insurance
One advantage to a beneficiary from holding title to real estate in the form of a trust is... so long as they do not breach their fiduciary duties, a trustee is virtually guaranteed to be paid for acting as such only family members who live in Ohio can be named as trustees, to manage the property the assurance that Probate Court will always be present ... and involved ... to make sure nothing bad happens to the property the legal title can be held or sold or mortgaged by a person - the trustee - who might have superior asset management skills (and control) as compared to the one for whose benefit the property is being held - the beneficiary
the legal title can be held or sold or mortgaged by a person - the trustee - who might have superior asset management skills (and control) as compared to the one for whose benefit the property is being held - the beneficiary
Which of the following statements about a quitclaim deed is true? the quitclaim deed is voidable by the grantor, for 30 days after their conveyance the quitclaim deed is never the appropriate deed to be used the quitclaim deed transfers rights in property to no one the quitclaim deed transfers to the grantee all of the grantor's rights in the land
the quitclaim deed transfers to the grantee all of the grantor's rights in the land
Because of it's central location, section 16 of a township was often referred to as the school section. the county seat. prime ground. the central coordinate.
the school section
Before the scheduled formal closing, the seller is run over by a bus and killed. He has an executed warranty deed clutched in his hand. Which of the following is true: closing can proceed as scheduled, because of the doctrine of relation back the transaction has been totally nullified by this event the transaction now needs approval of the seller's heirs the transaction will probably need Probate Court assistance, in order to close
the transaction will probably need Probate Court assistance, in order to close
A fee simple absolute estate is subject only to those restrictions to which all realty must remain subject; i.e., taxation and zoning. True False
true
A fiduciary deed is the "best" deed that can be given when, due to death or incompetency or ownership of the land by a trustee, no general warranty deed can be provided. True False
true
A landowner who wants to build a home on his 2.9 acres, when the zoning code requires at least 3 acres, should seek a variance. True False
true
A leasehold "estate for years" would have a specific starting date ... and a specific ending date. Upon reaching the ending date, the tenant's lawful right to remain in the premises will terminate. True False
true
A statement of consideration is typically required for must deed forms. True False
true
An abstract of title is a history of all things that affect the current title status of the realty. True False
true
Attorneys are routinely used for formal closings, but not for escrow closings. True False
true
Carpet that needs a good steam cleaning, after the tenant vacates, reflects ordinary wear and tear ... not waste. True False
true
Deed restrictions can lose their force and effect over a long passage of time. True False
true
Given that, today, many sellers have "mortgaged their properties to the hilt," as it were, a careful real estate salesperson will make extra efforts to verify that a seller will be able to tender marketable title, whenever it appears that there is little, if any, seller's equity in the property. True False
true
If a man wants the children from his first marriage to receive an interest in his real estate upon his death, he should probably not hold real estate in statutory survivorship tenancy with his second (third, fourth, etc.) wife. True False
true
If a party makes no good faith effort to fulfill a condition of the contract placed therein for this party's benefit, they're probably in breach of the contract. True False
true
In the above situation, if the mother or daughter marries, their husbands could have dower rights in this real estate (in states that recognize dower). True False
true
Oral leases may be used for both residential and commercial leases. True False
true
Part performance, such as possession and improvements to the real estate, can make an oral purchase contract valid, as an exception to the statute of frauds. True False
true
Rent is usually considered payable on the first day of the month, unless the lease provides otherwise. True False
true
Rent withholding allows the tenant to deposit rent with the court, rather than with the landlord. True False
true
Replacing a shower stall will generally not require the approval of the county building department. True False
true
Special assessments may, or may not, be prorated between the purchaser and the seller, depending on the terms of their purchase contract. True False
true
Standard deed forms usually contain a clause for the release of a spouse's rights in the grantor's real property. True False
true
The central, controlling document in a condominium is the declaration. True False
true
The seller is usually debited for the cost of the preparation of the warranty deed. True False
true
Grasslands, vacant lots and forests are examples of improved land. commercial property. industrial property. unimproved land.
unimproved land
The duty of a person who has less than a fee simple interest in real property to preserve the property for the benefit of the person that holds the rest of the rights in the property. Waste basically includes damages other than ordinary wear and tear
waste
A husband and wife co-own real estate. The husband signs the purchase contract and the deed; and the wife signs neither. She simply refuses to convey her half of the real estate. Using the court-ordered remedy of specific performance, the purchaser... will be able to force her to convey because of the law requiring a spouse to support the actions of their marital partner will be able to force her to convey, because of her dower rights in the realty will be unable to force her to convey, since she never signed the purchase contract be able to force her to convey, because she signed the listing contract
will be unable to force her to convey, since she never signed the purchase contract
The landlord must pay the real estate taxes on the leased real property in which case? with a net lease with a percentage lease with a gross lease with any commercial lease
with a gross income
Because of Ohio's legislation effective for deeds signed after February 1, 2002, which of the following is no longer required for a valid deed: insertion of a legal description on the blank deed form signing by the grantor, followed by delivery to the grantee, or their representative witnessing of the grantor's signing of the deed notarization of the deed
witnessing of the grantor's signing of the deed