GOLD COAST FINAL EXAM QUESTIONS
AND ANSWERS (VERIFIED AND
UPDATED)
Actual notice - ANS own it
Constructive notice - ANS record something in public records
How Is Real Estate Recovery Funded ? - ANS by fees & fines
Eminent Domain - ANS government has right to take away public use citizens can't refuse to
sell)
immune properties - ANS government owned
lot & block - ANS residential sub-division surgery system
Metes and Bounds - ANS oldest method of land description & provides the most accurate
type of legal descriptions
@2026/2027 ALLRIGHTS RESERVED.
, What does the Real estate recovery fund do ? - ANS reimburse members of the public
what is a township... - ANS a township is 6 miles square contains 36 square miles
Each township contains ____ acres - ANS 640 acres
How many square feet are in an acre? - ANS 43,560
kickbacks are illegal unless.. - ANS someone has a licensed
Offer and Acceptance - ANS Meeting of the minds or mutual agreement- all parties
concerned understand and agree to all the terms of the contract
Overimprovement - ANS An addition or change to property not in line with its highest and
best use
statue of frauds - ANS provides protection against fraud in the sale of real property. requires
contract for the transfer of a right or interest in land
statute of limitations (oral contracts) - ANS if contract is entirely oral, action must be brought
within 4 years
statue of limitations (written contracts) - ANS if contract is entirely written, action must be
brought within five years
Sufficient Consideration - ANS either valuable or good consideration may be sufficient
@2026/2027 ALLRIGHTS RESERVED.
AND ANSWERS (VERIFIED AND
UPDATED)
Actual notice - ANS own it
Constructive notice - ANS record something in public records
How Is Real Estate Recovery Funded ? - ANS by fees & fines
Eminent Domain - ANS government has right to take away public use citizens can't refuse to
sell)
immune properties - ANS government owned
lot & block - ANS residential sub-division surgery system
Metes and Bounds - ANS oldest method of land description & provides the most accurate
type of legal descriptions
@2026/2027 ALLRIGHTS RESERVED.
, What does the Real estate recovery fund do ? - ANS reimburse members of the public
what is a township... - ANS a township is 6 miles square contains 36 square miles
Each township contains ____ acres - ANS 640 acres
How many square feet are in an acre? - ANS 43,560
kickbacks are illegal unless.. - ANS someone has a licensed
Offer and Acceptance - ANS Meeting of the minds or mutual agreement- all parties
concerned understand and agree to all the terms of the contract
Overimprovement - ANS An addition or change to property not in line with its highest and
best use
statue of frauds - ANS provides protection against fraud in the sale of real property. requires
contract for the transfer of a right or interest in land
statute of limitations (oral contracts) - ANS if contract is entirely oral, action must be brought
within 4 years
statue of limitations (written contracts) - ANS if contract is entirely written, action must be
brought within five years
Sufficient Consideration - ANS either valuable or good consideration may be sufficient
@2026/2027 ALLRIGHTS RESERVED.
