California Legal Aspects of Real Estate Final Exam Questions with Verified and Updated Answers
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Course
Real Estate
Institution
Real Estate
California Legal Aspects of Real Estate
Final Exam Questions with Verified and
Updated Answers
California Legal Aspects of Real Estate
Final Exam Questions with Verified and
Updated Answers
A balloon payment on a real estate loan is:
a. the final payment to pay off a loan ...
California Legal Aspects of Real Estate
Final Exam Questions with Verified and
Updated Answers
, California Legal Aspects of Real Estate
Final Exam Questions with Verified and
Updated Answers
A balloon payment on a real estate loan is:
a. the final payment to pay off a loan
b. the smallest payment made on the loan
c. more than twice the amount of the smallest payment
d. a payment made by a guarantor of the loan - Answer ✓✓c. more than twice the
amount of the smallest payment
A deed in lieu of foreclosing is when, instead of foreclosing, the mortgage allows the
mortgagor to deed the property to the:
a. investor purchasing the property at the foreclosure sale
b. mortgagor's relative
c. mortgagee
d. real estate agent - Answer ✓✓c. mortgagee
A due-on-sale clause is also known as:
a. an alienation clause
b. an overall clause
c. a due-on-loan-payoff clause
d. an alternative payoff clause - Answer ✓✓a. an alienation clause
A homestead declaration does not protect an owner from liens such as:
a. trust deeds
b. mechanic's liens
c. all of these
d. tax liens - Answer ✓✓c. all of these
A homestead exemption applies to:
a. a property tax reduction amount
, b. an owner's equity
c. the amount a person can pay for a homestead property
d. the total amount of the obligation - Answer ✓✓b. an owner's equity
A landlord has a right of entry into leased premises if the tenant has:
a. mistreated the landlord
b. been obnoxious to other tenants
c. abandoned the premises
d. defaulted on the rent - Answer ✓✓c. abandoned the premises
A landlord's obligation to put a building intended for human habitation in a condition that
is fit for occupancy is referred to as:
a. fulfilling the beneficial habitation laws
b. an implied warranty of habitability
c. fulfilling occupancy standards
d. a warranty of occupancy - Answer ✓✓b. an implied warranty of habitability
A lease may be terminated if a trust deed, which was recorded before the lease, is:
a. stopped
b. paid off
c. foreclosed
d. hypothecated - Answer ✓✓c. foreclosed
A lease that provides renewal options on a tenancy for years on agricultural land for
more than 51 years would be:
a. enforceable
b. a violation of the tenant's rights
c. unenforceable
d. a violation of the landlord's rights - Answer ✓✓c. unenforceable
A nephew who unjustly persuades his elderly uncle to transfer property to him for a
token consideration would make the contract voidable and would be considered:
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