California Real Estate Exam 182 Questions And Answers Set 01
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Terms in this set
182
Zoning laws are one example of
police power
The holder of a life estate based on the holder's own life may not
devise (leave by will) the property to anyone.
A bill of sale must have
the signature of the seller.
An appraiser determines the value of an income producing property as of a "given date" to indicate the market
conditions influencing the value of the property as of a given point in time.
Puffing ...
is when an agent exaggerates the features or condition of the property.
The ultimate test of the functional utility is
marketability.
In the court case of Easton vs. Strasburger the Seller and Agent were required to disclose all known material facts regarding the
physical condition of the property.
Govt land use, planning and zoning laws, are all examples of
police power.
Residential property is normally leased on a gross lease
with the Tenant paying a fixed amount each month.
State Housing Law, Local Building Codes, and the Contractors License Law
exert the greatest control over the housing and construction industries in California.