Real Estate Paper 25

(A)
Choice (B) has no warranties. Choice (D) has no warranty. Choice (D) has limited warranties.

(B)
Choice (A) is a requirement of a valid contract. Choice (C) sounds familiar, but it’s a habendum clause that is required for a deed to be valid. Choice (D) is not true.

(B)
Choice (A) is used as security for a loan. Choice (C) is a distracter; it seems correct, but the term is “reconveyance,” not “conveyance.” Choice (D) is incorrect because it is a deed that limits warranties to the period during which the grantor owned the property.

(A)
An option is in writing, but only one party is required to perform an action, that is, sell the property, so choices (B), (C), and (D) do not satisfy this definition and are incorrect.

(D)
Choice (A) is incorrect because all the characteristics that make a contract valid were present when the contract was signed. Choice (B) is incorrect because none of the circumstances that make a contract voidable are present. Choice (C) is incorrect because the characteristics that make a contract valid were present when the contract was signed

(D)
Choice (A) is incorrect because all the characteristics that make a contract valid were present when the contract was signed. Choice (B) is incorrect because none of the circumstances that make a contract voidable are present. Choice (C) is incorrect because the characteristics that make a contract valid were present when the contract was signed

(D)
To be valid, neither a real estate sales contract nor a lease needs a property description, so choice (D) is the correct answer. Choices (A), (B), and (C), in addition to a legal purpose and a written document, are needed.

(B)
Choice (A) occurs when an apartment under rent control becomes vacant and the landlord can charge the market rate. Choice (C) occurs when a tenant must leave premises that are no longer habitable. Choice (D) is an illegal action of a landlord against a tenant.

(D)
Without seeing the lease, we can’t tell when the landlord may enter a tenant’s apartment, so choice (D) is the best answer.

(C)
Choices (A), (B), and (D) are typical provisions of leases, which doesn’t meant that they will always appear in a lease. But more often than not, they will be included.