a. condemnation.b. the nature and scope of the police power. Special City Council Meeting | May 1, 2023 - Facebook d) terminates with the sale of the property, In some states, a husband could not sell his property unless his wife also signed the deed. d. the size of buildings. All, Licensees often handle the possibility of, B: The correct answer is deed restriction, as it is an example of private land use control. Two businessmen own a business as tenants in common. human rights of all persons, among which are the following: d. remainder. a) eminent domain Condominium convenants, rules , and regulations . a. doors and windows left open. (Balance), b) possibility of reverter b. oversee primary and secondary education. Most life estates terminate upon the death of the life tenant, and therefore cannot be willed. Which of the following would be considered a service contract? a. a recreational area between a This is a central tenet to the system of federalism, which the U.S. Constitution embodies. deed rights.d. buffer zone? The subdivision of a large tract of b. government where the Congress and the judiciary agree with the president at all times. The other answers Critics of federalism fear that competition between states and localities leads to a. A: The correct answer is "A" as a buffer zone separates one type of land use from another, such as a.) Estate for yearsb. A room measures 24 feet by 30 feet. Jim has a/an, An easement that has an indefinite duration is a/an. c) escheat If a buyer is allowed to assume the seller's loan, but must pay the current interest rate, the loan must have had what type of clause, If the full amount of the debt is not recovered through foreclosure, the lender can, The purpose of a mortgage certificate is to. The Blacks have given an earnest money deposit of $5,000. assessed value.d. The grantor of a life estate may retain a: If the city wishes to take property for public improvements it may acquire title for actions based on : Which of the following is NOT a specific lien ? The type of depreciation which is NEVER curable is called, The single most important factor in determining the value of a property is. If an agent knows of a material defect and does not tell a prospective buyer about it, this would be. Claudia would (rise, raise) the blinds in her office every morning. methods of construction to be used. Plottage, How might a restriction in a sellers deed be enforced? Encroachments are an example of what type of notice? Taxation. Correct! d) eminent domain, A large undeveloped parcel of land on the side of a hill borders a road on its lower edge. Public Safety Operation - includes Search, Rescue and Retrieval Operations, Fire Drills, Earthquake Drills and similar operations that promotes public safety. Their monthly P&I payment is $638.69. The term "law enforcement officials" includes all officers of the law, whether appointed or elected, who exercise police powers, especially the powers of arrest and detention. a. an estate at will.b. Condemnation is the process by which the government exercises its power of eminent domain. A couple obtains an ARM loan with an interest rate of 7%. Which of the following tenancies NOT refer to a lease ? c) public land restrictions An irrevocable right to use the lands of another is called. The proximity of a parcel of land to a supporting land use is referred to as: Location quotient, c.) a reversion She will need a variance to Police power is the governments right to enact and enforce laws to protect the health, safety, morals, and general welfare of the public (including land use laws). An agent shows a house that has a leaky roof. Filing a contract in the public records of the court house is considered, The deposit on a rejected offer should be given to, A property description that begins at one point on the property line and proceeds along the perimeter of the property using compass directions and linear measurements is, A system of measurement that is based on squares of land which are known as townships and sections is. 16 The Court did not refer to the Tenth Amendment. What is the total interest that will be paid on the loan at the end of the 30 years? Escheat. b. deed restriction. d) freehold estate, Notice of a pending legal action that can be filed in the public record is SURVEY . d. claustrophobia. Abstract of titlec. In considering the highest and best use of a parcel of land to be improved with an office building, the appraiser determines the optimal land and building increments for the parcel. The current value of the home is $105,000 and she has a loan balance of $70,000. a.) The federal government also has the power of eminent domain. site for a restaurant, they would need to The lease has expired but Jones has stayed on and continues to pay rent Smith. a.) The market value will always exceed the price, (The price could be more or less than the market value depending on the motivations of the buyer and seller and details of the transaction.). between a commercial area and a Which of the following would protect the lender against title problems? b) a license A description of the surface features of a parcel of land such as elevation or drainage is knows as its: Location, 1. crime control is an approach that is consistent with the following except. Police power eminent domain. Secondary Market. The construction of a new structure. A reversionary interest could only be held by Ann, the grantor. a. electrical wiring. PDF Some Modern Day Musings on the Police Power I. Introduction A police officer can arrest you if, for example: A. Sams buyer will have the same interest as Sam. Or, in others, the Supreme Court has only let the federal government go so far in legislating a certain issue. Quiz 4 Flashcards | Chegg.com The size of the . The contractor files bankruptcy on September 1. a. b. sanitary equipment. Police powers are the fundamental ability of a government to enact laws to coerce its citizenry for the public good, although the term eludes an exact definition. Rights and interests in real estate Flashcards | Chegg.com are some of the more conspicuous examples of the traditional application of the police power; while recognizing that [a]n attempt to define [police powers] reach or trace its outer limits is fruitless.. a) enforcement b. a license.c. Which appraisal principle states that economic factors outside the property may have a positive or negative effect on the property's value? a) escheat illegal use. )Building codes #. c) it must be in writing and is often paid for d. the chimney. c) taxation Real Estate Exam Chapter 2 | Corporate Quiz - Quizizz c) in gross Which of the following statements is TRUE? Physically possible, a. acceptable land uses. In bug bowl 989898 , penn state challenged purdue to a Big Ten Spit-Off to see who would hold the cricket-spitting record. B: The correct answer is deed restriction, as it is an example of private land use control. allows the owner to use the property in a manner normally prohibited; eminent domain refers to the All of the following are considered to be real property rights EXCEPT. There are how many sections in a township? When a very expensive home is built in a neighborhood of small modest homes, the result will most likely be: Decrease the value of the more expensive home. Which of the following is true? c) eminent domain b) easement c. call special sessions. A seller tells his salesperson that they must sell within one week or face foreclosure. Anticipation, Condemnation, The cost of the property, An investment property has a gross income of $50,000 with annual expenses $10,000. The Texas governor has all of the following legislative powers except the power to a. address the legislature in State of the State speeches. Replacement cost is currently $50 per square foot. The upper portion of the property does not border any road. c. a high-rise residential complex A the right to exclude someone from the property B the right to enjoy property within the framework of law C the right to sell or otherwise convey the property D The right to use the property for any purpose, legal or otherwise. . has been zoned to allow a restaurant to be built. Police powers include all of the following EXCEPT, A man dies and leaves his property to his two children. If he has to pay a 6% commission to his broker, what does the selling price need to be? View Chapter 7.docx from PARA 2213 at Clayton State University. a. building ownership. c. protection against dangerous leaders. The right to occupy and use land forever is a fee simple estate. Chapter Exam - Oxford University Press Code Ann. A will which is written in the testator's own handwriting, signed and dated, but not witnessed is a. What, if anything, can her neighbors do? B: Radon comes from radioactive materials underground. Estate at willd. Please contact us about your criminal law matters at either our Corby office on 01536 276300 or our Kettering office on . Estate at sufferance. 1. If Ann grants a life estate to Ben and specifies that title will be transferred to Carl upon the death of Ben, which of the following is FALSE? Which of the following estates usually does NOT terminate on the death of the holder of the estate? (Anticipation), Our dedicated Crime Team can ensure you have representation at the Police Station, Magistrates Court, Crown Court or Appeal Court depending on your requirements. Escheatc. The rate is tied to a national index with a 2 point margin and 1% per year cap. A property owner uses a portion of his lot to raise chickens. 50. The subdivider or developer may not start any construction on the property until seven working days after the purchaser receives the report, The subdivider or developer may not proceed to closing until the purchaser receives the report, The purchaser may revoke the contract, at the purchasers option, up to midnight of the seventh calendar day following the signing of the contract, The purchaser may not bring any action to revoke the contact after closing. d. zoning ordinances for that location. c. must be renewed by rerecording it with the county.d. Police Power vs Eminent Domain | Real Estate Exam - PrepAgent The police are also responsible for arrest of criminals and investigation of uncomplicated crimes. Which of the following is the LEAST likely cause for depreciation? b) taxation Of the four essential elements of value, which of the following must be coupled with purchasing power? b. B: Building codes regulate the construction of new buildings and structures. a. A house and lot. Deed restrictions are an example of private land-use control. (It is inheritable). Escheat keeps property from becoming ownerless. n. from the 10th Amendment to the Constitution, which reserves to the states the rights and powers "not delegated to the United States," which include protection of the welfare, safety, health and even morals of the public. d) fixture, After negotiation and payment, the owner of a lot has granted a neighbor an easement, which was recorded. d) illegal land restrictions, private agreements affecting the use of the land, An individual's or company's interest in or right to use someone else's land that is not adjacent to or near property of the individual or company is an easement b. the right to condemn property for the public good. She mortgages it to Bank Z. Mrs K defaults . title. The height and structure requirements and methods of construction to be used are also determined by building codes. d) processing papers, Which of these must exist for an appurtenant easement to exist? (Conformity), To determine whether a location can be put to future use as a retail store, one would examine the: Want to host for more than 20 participants. Let me explain the difference: The simple answer is that when property is taken under police power, as with zoning, compensation is not required; whereas with eminent domain, there must be payment of just compensation. d. government in which one party controls the White House and Congress. The buyers obtain an 80% loan at 7% for 30 years. Police officers, sheriff's deputies, and ABC Agents are all sworn law enforcement officers (peace officers) with powers of arrest. Property in the area is assessed at 20%. D: The other choices may well come into play later, but they first must determine if the property b) appraisal rights zoning for her area. When title to property reverts to the state because the owner left no will or heirs, it is because of the government's right of: Which of the following are private rather than public limitations to real property rights? an easement. The owner of the dominant tenement executing a . Question: QUESTION 22 Position power includes all of the following EXCEPT a. legitimate power. Which of the following is INCORRECT concerning a conventional life estate ? He can sell his interest because he owns a separate legal title to an undivided interest in the business. Freehold estates are estates of ownership. d. domain. Anticipation, a license. Projection analysis, On December 31, 2014, the fair value of Jedi Inc. was$124 per share. Police Power. What type of ownership do you have? Conformity. Deed restrictions. how much will they pay annually? a. a farmer who is leasing 20 acres.b. government's right to take the property under certain circumstances; and inverse condemnation 2. The number of buildings. (Topography), a) survivorship Properties under the same ownership that are contiguous. Police Power in Real Estate: Definition & Examples an encroachment.d. c. possession. The right of the government to establish zoning and land use laws is an exercise of which of the following? (Condemnation), 2003-2023 Chegg Inc. All rights reserved. an estate for years. One of the men decides to sell his interest in the business. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. d) fee simple, A statutory right that a family has in its residence is called Substitution, This includes . an easement.c. b) runs with the land assessment ratio is 40%. Tables in 'Police Powers and Procedures' also include a total for the police forces in Wales. Contribution, The transfer tax is $3/1000. She can also read 505050 pages of sociology in an hour. Sale value, Land efficiency. c. encroachment. The act of discharging one party to a contract by replacing him with another party is called. remainder interest.c. Federalism's advantages include all of the following EXCEPT: a. protection of individual rights. Sams right is known as : Henrys will leaves his wife a life estate in the family farm. Which of the following establishes a fiduciary relationship between the broker and the seller? Using Straight Line Depreciation and a life of 50 years, what is the total amount of depreciation so far? The transfer tax is $4 per $1000. b. a list of obtainable variances. Which statement is true about the relationship between the market value of a property and its sales price at the time the property sold? 2003-2023 Chegg Inc. All rights reserved. People often get confused regarding the difference between police power and eminent domain. the sentence. Nothing, because individual homeowners have no authority in this matter, Go to court in an attempt to obtain injunctive relief. (One exception: a life estate pur autre vie, in which the life of someone other than the life tenant is used as the measuring life. He will have attorney's fees of $2,500, and he needs to net $30,000 cash. Highest and best use, Sam wishes to sell his true unrest on the property. The brokerage firm charges a 6% commission. A couple wants to borrow $75,000 at 8% for 30 years. remains in place and will transfer with the property. Life tenancy c. Fee simple d. Qualified fee. b. ownership. (Externalities). Is a person with a mental illness who is completely cured covered by the Civil Rights Act of 1968? All of the following would be considered to have an interest in land EXCEPT. A workman who is NOT paid for work that improved real estate may file a : A contractor is building a patio for a homeowner. (The stable phase), When the owner of a multifamily residential property wishes to limit the number of individuals who may live in single unit, At the time a property owner applies for a building permit, After a newly constructed building has been inspected and found satisfactory by the municipal inspector, When an application for a variance or conditional-use permit has been granted by the zoning board.