Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ten against a real property owner by a municipality based on the value of the property is considored a(s) A. mortgage lien. B. lis pendens.

image text in transcribed
Ten against a real property owner by a municipality based on the value of the property is considored a(s) A. mortgage lien. B. lis pendens. C. special assessment. D. ad valorem tax. 31. Marcy has four liens: \\( \\$ 1,200 \\) for city-installed curbs; \\( \\$ 1,000 \\) for a newly installed deck; \\( \\$ 215,000 \\) on her mortgage; and \\( \\$ 15,000 \\) for a personal loan. The bank forecloses, and the home sells for \\( \\$ 158,000 \\). How will the money be distritatad? A. \\( \\$ 158,000 \\) to the mortgage; nothing to any other lien holder B. \\( \\$ 1,200 \\) for cly-installed curbs; \\( \\$ 156,800 \\) to the mortgage; nothing for the deck or loan C. \\( \\$ 1,200 \\) for cily-installed curbs; \\( \\$ 1,000 \\) for the deck; \\( \\$ 155,800 \\) for the mortgage; nothing to the personal loan C. \\( \\$ 15,000 \\) for the personal loan; \\( \\$ 1,000 \\) for the deck; \\( \\$ 1,200 \\) to the city; the remainder to the mortgage 32. Which of the tollowing is TRUE about deed restrictions? A. Dend restictions cannot restrict property owners trom making decision about the appearance of the propety. B. The right to enforco a doed restriction can be lost if not enforced in a timely manner. C. A zoning ordinance will always take preference over a deed restriction if the two address the satme resticion. D. Doed restrictions cannot limit the alienation of property. 33. James goes on vacation to the Bahamas. When he comes back, he finds that his neighbor put up a new fence three foet: over his property line. What is the fence? A. an appurtenance B. a trespass C. an encroachment D. a nuisance 34. At a listing appointment, a salesperson was told by the sellers that their property extended to the neighbor's fence at the rear of the property. In reality, the lot included an additional \\( 9^{\\prime} \\times 6 \\) ' area, which extended beyond the fence and was being used by the neighbor. Which of the following events will uncover the sellers' misconception? A. inspection of the property by the buyer's title insurance company B. reassessment of the property, which automatically occurs when the property is sold C. a survey, which may be required by the buyer's mortgage lender or tite insurance company D. When the salesperson draws the shape and dimensions of the property from the legal description on the deed 35. Mark is given pelmussion to park hi his neighbors' driveway because he does not have one of his own. The owners specily that Mark can only park there untilithey buy a new car next year, and he must also shovel the snow from the driveway. Which of the following does Mark have? A. license B. encroachment C. easement by necessity D. easement by prescription Questions 36 - 48 are related to content from Section 4 of the Student Manual, \"Government Interests and Environmental Issues Affecting Property,\" and its related toxtbook readings (Chapter 17). 36. Which of the following is NOT an example of police power? A. zoning ordinances B. builing and occupancy codes C. enforcement of criminal penaities D. rental regulations

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The BRC Global Standard For Food Safety A Guide To A Successful Audit

Authors: Ron Kill

2nd Edition

0470670657, 978-0470670651

More Books

Students also viewed these Accounting questions