REAL 4000 Exam 2 LCPQ Questions and Answers | Latest Version | 2024/2025 | 100% Pass
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REAL 4000 Exm 2 LCPQ
Institution
REAL 4000 Exm 2 LCPQ
REAL 4000 Exam 2 LCPQ Questions and
Answers | Latest Version | 2024/2025 |
100% Pass
What is adverse possession in real estate law?
Adverse possession is a legal principle allowing someone to claim ownership of land after
occupying it openly and continuously for a certain period without t...
REAL 4000 Exam 2 LCPQ Questions and
Answers | Latest Version | 2024/2025 |
100% Pass
What is adverse possession in real estate law?
✔✔ Adverse possession is a legal principle allowing someone to claim ownership of land after
occupying it openly and continuously for a certain period without the owner’s permission.
What is a promissory note?
✔✔ A promissory note is a written agreement in which a borrower promises to repay a loan
under specified terms.
What is joint tenancy?
✔✔ Joint tenancy is a form of property ownership where two or more people hold equal shares
with the right of survivorship.
What is a life estate?
✔✔ A life estate is a property interest that lasts for the lifetime of a specified individual, after
which ownership transfers to another party.
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,What is eminent domain?
✔✔ Eminent domain is the power of the government to take private property for public use, with
compensation to the owner.
What is specific performance in real estate contracts?
✔✔ Specific performance is a legal remedy that requires a party to fulfill their obligations under
a real estate contract rather than just paying damages.
What does quiet title action involve?
✔✔ A quiet title action is a lawsuit filed to establish ownership of property and remove any
challenges or claims to the title.
What is a ground lease?
✔✔ A ground lease is a long-term lease where a tenant is allowed to develop a piece of land
during the lease period, after which the land and any improvements revert to the owner.
What is constructive eviction?
✔✔ Constructive eviction occurs when a landlord's actions or negligence make a rental property
uninhabitable, forcing the tenant to move out.
2
, What is the statute of frauds in real estate?
✔✔ The statute of frauds requires certain real estate contracts, such as those for the sale of
property, to be in writing to be legally enforceable.
What does earnest money deposit represent?
✔✔ An earnest money deposit is a payment made by a buyer to demonstrate their commitment
to purchasing a property, which is applied to the purchase price at closing.
What is equitable title?
✔✔ Equitable title refers to the right to obtain full ownership of a property once certain
conditions, such as full payment, are met.
What is fixture in real estate?
✔✔ A fixture is an item of personal property that has been attached to the land or building in a
way that it becomes part of the real estate.
What is condemnation in the context of real estate?
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