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GOVT 406 Quiz 1 GOVT 406 Quiz Nonpossessory Interests in Real Estate In constructing the railroads in the United States, thousands of landowners granted the federal government easements for the placement of railroad tracks. As rail travel declined, many of the routes were no longer used. Many of the railroad tracks were dismantled formally by…
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GOVT 406 Quiz: The Landlord-Tenant Relationship Amy Geiger had a two-year lease on a Manhattan apartment that began on August 1, 2007, and was to run until July 31, 2009 at a rate of $1200 per month. Amy was assigned to work in the London office of her company from January 1, 2008 until August…
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GOVT 406 Quiz: Describing Land Interests The description, “All my land except the spring house”: How many square miles in a township? Which of the following would make a metes and bounds description insufficient? When a deed description is invalid: A latent ambiguity: Each section contains: How many sections in a township? Which of the…
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GOVT 406 Quiz: Financing the Transfer of Real Estate The general priority rule between recorded land interests is first in time, first in right. Judicial foreclosure does not require notice to the mortgagor. In a subject to transfer, the grantee will be personally liable to the mortgagee. Regulation Z is inapplicable to second mortgages on…
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GOVT 406 Quiz: Real Estate Communities A time-sharing interest can only be a lease. Turn-offs of services must be authorized in the bylaws to be a means of enforcement of assessments. A vacation license is the same as a time-share interest. Co-ops, townhomes and condominiums are all incorporated non-profit associations. Architectural Control Committees cannot enforce…