21 Red

Yes, according to the ADA, the first priority is the "get to the door standard" that includes installing ramps, widening entrances, and providing accessible parking spaces. -

Amy suffered a spinal cord injury. She is partially paralyzed and confined to a wheel chair. She is self-sufficient in day-to-day living, has a career, and is looking for a new apartment. She decides to take a tour of Golden Gate Gables apartments. She was very happy with the two-bedroom unit and wants to put in an application for the unit. She has a special van—to accommodate her wheelchair--that requires an extra-wide disabled parking space. The Golden Gate Gables does not provide any special parking for the disabled. If Amy's application is approved for the apartment, does the apartment complex have to install a special parking spot for Amy?

Yes, as long as the products or services do not include any actions for which a California real estate license is required. -

Is it permissible to advertise real estate associated services or products in California without a California real estate license

The Van Horns are the grantees; and ABC Escrow the third party. This transaction constitutes escrow. -

The Van Horns deposit funds with ABC Escrow as a requirement for the purchase of their new home. Who is the grantee and the third party, and what is the type of transaction?

Yes, private mortgage insurance is required for all loans with less than 20% down payment. -

Tracy and Darnell are buying a home. They have a 15% down payment and have qualified for a thirty year fixed conventional rate mortgage. Will Tracy and Darnell have to pay PMI?

Vesting -

Which of the following is not a fourfold unity?

Written in testator's handwriting -

Which of the following is not a requirement of a will?

Voluntary Tenancy -

Which of the following is not considered one of the six distinct forms of ownership in California?

XYZ Escrow did not maintain the records and files of its clients. Due to poor record keeping, several escrow accounts at XYZ were overdrawn. -

XYZ Escrow has gone out of business. They committed one of THE violations of all violations of escrow holder regulations. What is the violation?

While the federal government sometimes taxes the estates of deceased persons, California has eliminated inheritance taxes altogether. -

Sydney has inherited her grandmother's estate worth approximately $4.5 million. She is worried about paying taxes on the estate and the inheritance. How will these taxes affect her new estate and inheritance?

Yes, according to the regulations of the Real Estate Purchase Agreements in California, all offers received by the broker must be presented to the seller, no matter how out of line with expectations. -

The Browns have a real estate agreement with Sell Fast Real Estate Company. A couple makes a ridiculously low offer on their home, which is five-bedrooms, five-baths in Malibu. The offer is $200,000 less than the Browns' asking price. Does the broker have to present the offer to the Browns, even if it is obviously going to be rejected and waste everyone's time?

A veteran's basic entitlement is $104,250. Lenders generally lend up to four times the available entitlement without a down payment. There is no maximum amount, but generally lenders limit VA loans to $417,000. -

Bruce, a private in the US Army, has applied for his Certificate of Eligibility and been approved. He wants to purchase a condo for himself. What's the maximum amount lenders will loan Bruce, based on his veteran status?

Yes, it is not necessary for a deed to be recorded. However, recording is advisable to protect the ownership interests of the grantee, establish priority, provide a record, and convey the transfer of title. -

Chandra and Fabian have heard that it is unnecessary to record a deed. Is this accurate?

Yes, if a collector makes more than ten annual collections, or collects more than $40,000, he/she must be licensed as a California real estate broker. -

Jacinda makes collections on real estate loans. Last year, she made approximately 20 collections and collected $38,000. Must Jacinda be licensed?

Yes, a trade of properties (Exchange) is possible if the trade involves no financing and the properties are not mortgaged. -

Jack owns a small home near a school. He doesn't have any children, and doesn't plan on having any in the future. Jack is a writer and works out of his home. All of the noise from the playground during the day interrupts Jack while he is trying to work. Tina, a friend of Jack's, also owns a small home. Her home is in a quiet, little secluded neighborhood. She has a child that will be entering first grade in the fall and wishes she lived closer to a school. One day, Jack asked Tina if she would want to exchange homes. Is this a possibility?

Yes, Jackson's initial deposit to open the account should have only totaled about $200.00. The $15,000 he deposited of his own money to open the account is considered excessive. -

Jackson, a broker, is accused of commingling his money with trust account funds. His broker's trust account is a non-interest-bearing account. The current balance of the trust account is $430,000. The earnest deposit funds portion of the account totals $415,000; the broker's initial deposit totals $15,000. Is Jackson guilty of commingling?

Yes, in California any apartment complex that has sixteen or more rental units must have a manager that lives on-site. In addition, Kimberly, as an off-site manager, must hold a real estate broker license. If she decides to hire a residential manager, who lives on the property, they do not need a broker's license. -

Pelican Bay Apartments is a complex consisting of 80 units. The units are available in studio and one-, two-, and three-bedroom apartments. Kimberly Bracco is the property manager of Pelican Bay. She has decided to stay in her condo and not reside at Pelican Bay. She is also pursuing her California real estate license as she manages the property. Is anything wrong with this scenario?

Yes, it is a violation. Leases do not terminate because a property is sold. -

Penny and Joe rent an apartment in the Trade Winds apartment complex. They moved in one month earlier and signed a one year lease. Today the couple received a notice stating the complex has been sold and their lease will terminate at the end of thirty days. Is this a violation?

Yes, Peter should be giving this position a second thought based on the clause. This type of clause is an Allowable Vacancy Rate. -

Peter has been offered the position of property manager for a large apartment complex. These apartments are upscale with impeccable maintenance programs and beautiful amenities for its residents. His contract has a clause that states, "If at any time during our agreement the property has a vacancy rate of more than 12%, our agreement is cancelled." Should this clause give Peter pause in accepting the position? Does this type of clause have a name?

Yes, Suzette deposited the earnest money in the broker's trust fund account as directed. She also deposited the check within three business days of receipt. Unless there were written instructions to hold the check until acceptance of the offer, the check may be cashed. -

The McColls have made an offer on a new home. The home is new construction and scheduled to be completed by the end of the year. They provide a purchase deposit--a check in the amount of $40,000--to their agent, Suzette. Suzette, at the broker's direction, deposits the earnest money in the broker's trust fund account within two business days of receipt of the funds. Did Suzette follow the proper procedures?

Universal Agent -

Timothy has been hired by the estate of Tyler Wilbanks, who is recently deceased. Timothy has Power of Attorney and will be handling all the real estate affairs of the deceased estate. Which type of agent is Timothy?

Yes, she should make sure the amount or percentage of down payment is there; terms of repayment; annual percentage rate and if an increase is possible; total finance charge; and total number of payments and due dates. -

Deanna is thinking of taking the step from renter to homeowner. She has a very stable position as a surgical nurse and excellent credit. She doesn't, however, have a large sum of cash handy for the down payment. One Sunday morning, she notices advertising for new condos where "no down payment is required." Should she look for any other information in the ad?