Gold Coast Real Estate Actual Exam
Questions With Reviewed 100%
Correct Detailed Answers
Guaranteed Pass!!
1. A separate property in a life estate is a - ANSWER Non marital asset
2. Marital assets are - ANSWER divided equitably
3. The party that created the life estate is the - ANSWER Grantor
4. The right to regain ownership of a life estate is called - ANSWER
reversion estate
5. If someone other than the owner is to receive the ownership of a life estate
it is called a - ANSWER remainder estate
6. A non freehold with the tenant in lawful possession of the property under
an grement with the landlord, but with no definite time limit for the rights
to terminate. - ANSWER Tenancy at will
,7. Non freehold estate with lawful possession of the property under an
agreement with the landlord for a specified period of time. - ANSWER
Tenancy for years
8. Provides for a surviving spouse to be entitles 30% of thr decendant's real
and personal property owned at the time of death - ANSWER Elective
share
9. Is achieved by recording documents in the public records. Recording a
document has the same legal effect as showing it to the entire world. -
ANSWER Constructive notice
10.Is the only legally necessary clause required in a deed - ANSWER
Granting clause
11.Specifies the legal rights being conveyed. The portion of the bundle of rights
being conveyed is described in this clause. - ANSWER Habendum clause
12.States that any interest they may have in the property is relinquieshed to
the grantee. The grantor does not promise to have any rights in the
property, but rather, any rights he or she may have are being conveyed. -
ANSWER Quitclaim deed
13.Allows local, state, or Federal government, railroads, public utilities, and
public housing authorities to obtain ownership to private property. -
ANSWER Eminent domain
, 14.A lease in which the tenant agrees to pay a fixed rental amountm and the
landlord pays all expenses related to the property such as real estate taxes,
insurance, and maintanance costs. - ANSWER Gross lease
15.Also known as the surveyors method, the oldest method of land
description. - ANSWER Metes and bounds
16.A township is six miles square and contains 36 sq miles - ANSWER
Township
17.Known as the lot and block, is a method of legal description used to identify
small parcels of property subdivided areas and cities. - ANSWER Plat
method
18.A promise of future money is an example of a - ANSWER Consideration
19.Created when the offer of one party is accepted, an acceptance of the offer
indicated that a complete meeting of the minds exists. - ANSWER
Contract
20.Enacted in England in 1677 to provide protection against fraud in the sale of
real property. It requires a contract for the transfer of a right or interest in
land to be in writing in order to be enforcable? - ANSWER statute of
frauds
Questions With Reviewed 100%
Correct Detailed Answers
Guaranteed Pass!!
1. A separate property in a life estate is a - ANSWER Non marital asset
2. Marital assets are - ANSWER divided equitably
3. The party that created the life estate is the - ANSWER Grantor
4. The right to regain ownership of a life estate is called - ANSWER
reversion estate
5. If someone other than the owner is to receive the ownership of a life estate
it is called a - ANSWER remainder estate
6. A non freehold with the tenant in lawful possession of the property under
an grement with the landlord, but with no definite time limit for the rights
to terminate. - ANSWER Tenancy at will
,7. Non freehold estate with lawful possession of the property under an
agreement with the landlord for a specified period of time. - ANSWER
Tenancy for years
8. Provides for a surviving spouse to be entitles 30% of thr decendant's real
and personal property owned at the time of death - ANSWER Elective
share
9. Is achieved by recording documents in the public records. Recording a
document has the same legal effect as showing it to the entire world. -
ANSWER Constructive notice
10.Is the only legally necessary clause required in a deed - ANSWER
Granting clause
11.Specifies the legal rights being conveyed. The portion of the bundle of rights
being conveyed is described in this clause. - ANSWER Habendum clause
12.States that any interest they may have in the property is relinquieshed to
the grantee. The grantor does not promise to have any rights in the
property, but rather, any rights he or she may have are being conveyed. -
ANSWER Quitclaim deed
13.Allows local, state, or Federal government, railroads, public utilities, and
public housing authorities to obtain ownership to private property. -
ANSWER Eminent domain
, 14.A lease in which the tenant agrees to pay a fixed rental amountm and the
landlord pays all expenses related to the property such as real estate taxes,
insurance, and maintanance costs. - ANSWER Gross lease
15.Also known as the surveyors method, the oldest method of land
description. - ANSWER Metes and bounds
16.A township is six miles square and contains 36 sq miles - ANSWER
Township
17.Known as the lot and block, is a method of legal description used to identify
small parcels of property subdivided areas and cities. - ANSWER Plat
method
18.A promise of future money is an example of a - ANSWER Consideration
19.Created when the offer of one party is accepted, an acceptance of the offer
indicated that a complete meeting of the minds exists. - ANSWER
Contract
20.Enacted in England in 1677 to provide protection against fraud in the sale of
real property. It requires a contract for the transfer of a right or interest in
land to be in writing in order to be enforcable? - ANSWER statute of
frauds
