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Real Estate

Quiz 14

admin 2019.05.16 22:55 Views : 16926

1 of 25 - What Act is a model law enacted as a blueprint for state laws to regulate leasing and management practices of landlords with residential properties?
The Residential Community Act
The Property Accommodations Act
 
The Uniform Residential Landlord and Tenant Act
The Tenancy Regulation Act
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2 of 25 - What refers to the right a tenant has to exclusively have possession of a rental property?
Possessor rights
 
Tenancy rights
 
Exclusive use
Specific use
You answered incorrectly
Under exclusive possession and occupancy, a tenant has the sole right to occupy and use the premises without interference from outside parties, including the landlord.
3 of 25 - What type of lease conveys a leasehold interest to an owner of a cooperative?
A land lease
 
A percentage lease
An index lease
 
A proprietary lease
You answered incorrectly
A proprietary lease conveys a leasehold interest to an owner of a cooperative.
4 of 25 - What term describes the giving up of a lease or other estate, thereby ending any further obligations?
Breach
Condemnation
 
Surrender
Voluntary agreement
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5 of 25 - What describes money that a tenant deposits with the owner, in advance of possession, for the repair of any damages for which the tenant is responsible?
A lease deposit
A partial payment
 
A security deposit
An escrow deposit
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6 of 25 - If both parties agree to terminate a lease it is called what?
Term expiration
 
Voluntary agreement
Condemnation
Abandonment
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7 of 25 - How much notice must a landlord give a tenant to enter a rental property in most situations?
2 days
 
24 hours
12 hours
8 hours
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8 of 25 - In what type of lease does the landlord pay the property's operating expenses, including utilities, repairs, and maintenance?
A graduated lease
 
A gross lease
A net lease
An index lease
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9 of 25 - What describes the transfer by a tenant, the sub lessor, of a portion of the leasehold interest to another party, the sublessee, through the execution of a sublease?
 
Subletting
Renting
Owner financing
Assumption
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10 of 25 - If a tenant is in default what can the landlord file to repossess the property and evict the tenant?
A suit for default
 
A breach of contract
An order of removal
 
A suit for possession
You answered incorrectly
If a tenant is in default, the landlord may file a suit for possession, also called a suit for eviction.
11 of 25 - What lease clause talks about the landlord leasing the property and the tenant taking possession of the property?
Capacity to contract
Rent
 
Demising clause
Description
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12 of 25 - What type of suit compels the defaulting party to perform the contract obligation that was breached?
 
A suit for breach of duty
 
A suit for specific performance
A suit for possession
A suit for misrepresentation
You answered incorrectly
A successful suit for specific performance compels the defaulting party to perform the contract obligation that was breached.
13 of 25 - What refers to a government regulation of the amount of rent a landlord may charge a tenant?
A cap
Lease regulation
Income stabilization
 
Rent control
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14 of 25 - What is an oral or written agreement that creates and governs, by express or implied terms, a landlord-tenant relationship?
An agency
A sales contract
A listing
 
A lease
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15 of 25 - In a lease arrangement the owner is the landlord and the renter is the
lessor.
 
tenant.
proprietor.
freeholder.
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16 of 25 - Who is responsible for maintaining a residential property in a condition fit for human occupancy?
The city
The tenant
The lessee
 
The landlord
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17 of 25 - How many days notice to terminate must a tenant be given in a mobile home lease agreement?
15 days
45 days
 
60 days
30 days
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18 of 25 - When using the repair-and-deduct option, how long should a tenant wait for a landlord to fix items before choosing to fix them him or herself if the problem is not severe?
7 days
 
21 days
 
30 days
60 days
You answered incorrectly
The tenant must wait a “reasonable time” for the landlord to fix the items before choosing to fix them him or herself. The statute states 30 days as a reasonable time, but stipulates a shorter time is warranted if the problem severely affects living conditions, such as no toilet, water, electricity, or gas.
19 of 25 - What option allows a tenant to arrange and pay for repairs, then deduct the amount from rent payments?
The tenant repair option
 
The repair-and-deduct-option
The right of refusal
The landlord settlement option
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20 of 25 - What describes a report that is filled out by the landlord stating the condition of a property upon the tenant's moving in and moving out of the property?
An inspection report
A housing report
A residential property form
 
A statement of property condition
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21 of 25 - What describes a guarantee that a property meets the minimum health and housing codes?
A home warranty
A tenancy guarantee
A home service warranty
 
A warranty of habitability
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22 of 25 - What is a lease provision that gives the tenant the right to extend the lease for an additional period of time and sets forth the terms for the renewed lease?
 
An extension
 
An option to renew
A recommence clause
A time revision
You answered incorrectly
An option to renew is a lease provision that gives the tenant the right to extend the lease for an additional period of time and sets forth the terms for the renewed lease.
23 of 25 - Which of these is not a type of leasehold estate?
Estate for Years
Estate at Will
Estate at Sufferance
 
Estate at Conveyance
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24 of 25 - How many days notice, before the date of increase, must be given to homeowners in a mobile home lease agreement, regarding the increase of rent?
30 days
 
90 days
45 days
60 days
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25 of 25 - What describes a lease where the rent is based on a percentage of the monthly or annual gross sales made on the site?
A proprietary lease
An index lease
 
A percentage lease
A net lease
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