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CALIFORNIA REAL ESTATE EXAM TESTBANK 2024
ACTUAL QUESTIONS AND CORRECT ANSWERS
ALREADY GRADED A+
RATED
What is the result of a breach in condition of a defeasible estate?Loss of title In CC&Rs, breaking (covenant/condition) result in loss of title?Condition What are two other names for a fee simple estate?
- Estate of inheritance
- Perpetual Estate
In a fee simple defeasible estate, to whom does the estate revert back to if a condition is breached?Creator of the estate
Example: Hugh Hefner and Cal Poly Pomona
Def of Life Estate A freehold estate with limited duration which is based on someone's life. 1 / 4
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2 Can the holder of the life estate sll or lease the estate?Yes Who does the life go back to when the holder dies?
- Estate in reversion - goes back to creator
- Estate in remainder - goes to third party
- Money (liens)
- Non-money (easements)
DEF encumbrance Anything that would be a burden on the title Name two types of encumbrances
A holder of a life estate cannot do two things:
- Will or devise the estate
- Commit waste (such as not pay property taxes and not maintain the property)
- Labor
- Services
- Materials AND/OR
- Equipment
Mechanic's Lien: used to secure payment to anyone that provides any of these four things:
Mechanics liens become effect when...work started An owner can post and record WHAT to protect the title against a mechanic's lien? 2 / 4
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3 Notice of Non Responsiblitiy DEF lien An encumbrance that the property acts as security for payment of a debt or discharge of an obligation.Note - on the property NOT the owner List two examples of a specific, involuntary lien Property Tax Mechanics Lien Name one example of a specific voluntary lien Mortgage loan Name three examples of a general involuntary lien IRS, judgement and attachment What TWO things gives a lien priority?Date and time of recordation Who creates easements?Developer DEF easement Right to use the land of another for a particular purpose Who uses easement in gross?Utility companies (read meter, string wires/pipes) 3 / 4
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4 Can a tenant grant an easement? IF yes, for how long?Yes, for term of lease.
How is a prescriptive easement legalized:
NACHO Notorious Adverse Continuous use (for 5 years) Hostile against owner's wishes Open (everyone knows) Name 5 ways an easement can be terminated.
- Both parties agree (dominant signs quit claim)
- Merger of properties
- Destruction of property
- Non use for five years
- Adverse possession
What two additional items need to exist for Adverse Possession?
NACHO +
- pay property tax for five years
- Need to have a good faith claim
- some years
- someone's life
- forever
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For what amount of time could an easement be created? 3 answers