AYPO Real Estate Law of Contracts UPDATED Exam Questions and CORRECT Answers
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Course
AYPO Real Estate Law of Contracts
Institution
AYPO Real Estate Law Of Contracts
AYPO Real Estate Law of Contracts
UPDATED Exam Questions and
CORRECT Answers
An advantage to buyers in a lease-purchase option is which of the following? - Correct
Answer- It can be easier for a difficult to qualify buyer to purchase a home with a lower
down payments.
Eminent domain in Tex...
AYPO Real Estate Law of Contracts
UPDATED Exam Questions and
CORRECT Answers
An advantage to buyers in a lease-purchase option is which of the following? - Correct
Answer- It can be easier for a difficult to qualify buyer to purchase a home with a lower
down payments.
Eminent domain in Texas MAY NOT be used for which of these purposes? - Correct Answer-
Private party uses.
Graduated and index leases are what types of leases? - Correct Answer- Variable.
A "mirror" will is a : - Correct Answer- Reciprocal will.
Under a land sales contract which of the following statements is accurate? (Best answer.) -
Correct Answer- All of these are accurate.
Which type of listing agreement is the only one to guarantee the broker a commission in the
event of a successful sale? - Correct Answer- Exclusive-right-to-sell
A Deed of Trust allows for what type of foreclosure? - Correct Answer- Non- judicial
Once the offer to purchase and all details and contingencies are agreed upon, and all parties
are signed, which of these should happen next? - Correct Answer- All of these.
A title search includes a searching of public records to determine these issues, except for: -
Correct Answer- Credit history of the potential buyer.
Which of these might a certificate of title include? - Correct Answer- Any of these
, Contingencies are best described by which of the following? - Correct Answer- Specific
events of conditions that must occur or be removed for the offer/purchase agreement to be
valid.
Oral agreements in relation to business purchases or hiring of services can be enforceable
under which of these circumstances? - Correct Answer- If the words used can be proven and
the intent reasonably discerned from those words.
A non-exclusive/not for compensation buyer- broker agreement: - Correct Answer- all of
these
For leases lasting less than ____, oral agreements can be enforceable. - Correct Answer- One
year
Which of these provides the broadest definition of land, property, and ownership rights? -
Correct Answer- Real Property.
For a valid contractual offer, the offer must do all except which of the following? - Correct
Answer- Provide terms for an acceptable counter offer.
Which of these would NOT be a requirement to create a valid lease agreement? - Correct
Answer- Financing disclosure
Fee simple determinable and fee simple subject to a condition subsequent are the two forms
of: - Correct Answer- Fee simple defeasible estates
_________________ is a form of ownership held by one party. - Correct Answer- Severalty
Which of these IS NOT listed among the special inspections? - Correct Answer- Home
appliances
Earnest money is a prospective buyer's demonstration of which of the following? - Correct
Answer- Both of these.
An encumbrance is a(n) ________ real property. - Correct Answer- All of these
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