Substitution. An estate for years has a specific termination date. reversionary interest.d. Condominium convenants, rules , and regulations . Let's go into more detail: Deed restrictions are an example of private land-use control. d. the right to impose a tax lien for unpaid . Police power is the same thing as eminent domain (T/F). extended almost a foot onto his c) an easement a. building codes for that location. This a statement of the principle of: The interaction of supply and demand factors in real estate markets: Adjust demand to supply, c) capable of being cleared of the easement if the woman sells to a third party life tenant owns the property; therefore, the life tenant has title and possession. Freeholds must be fee simple but leaseholds can be a life estate. remainder interest.c. Who can arrest me and why? When title to property reverts to the state because the owner left no will or heirs, it is because of the government's right of: Which of the following are private rather than public limitations to real property rights? Highest and best use, Properties under the same ownership that are contiguous. D: EMFs are created by the movement of electrical currents. Each of the following entities has the power of eminent domain, EXCEPT: Police power includes all of the following EXCEPT, b. the right to take property when its owner dies without a will and without any heirs, When the last heir of a property owner dies, absent a provision in a will devising the property, title will revert to, The government's right to make laws and regulations for the general welfare is known as, Powers of the federal government includeall of the following EXCEPT, a. the right to impose a tax lien for unpaid real property taxes. That all taxable articles or properties of the same class shall be taxed at the same rate underscores- Uniformity in taxation 42 following are limitations of taxations: A. Territoriality of taxation; B . Assessed value tax rate = property tax. An electromagnetic field (EMF) is created by, C: The correct answer is "C" as the homeowners do not have to agree with the CC&Rs but must, A: Eminent domain is the right of the government to take public land or property for public use or, When a county adversely acquires land for a, B: Mold results from a moisture problem and can cause health issues to those allergic to the mold, The potential buyers of a property should. If the grantor of a life estate retains reversionary rights, ownership in fee simple reverts to the grantor at the end of the life estate. At the closing they will make a cash payment of $40,000. b. license. One example of the use of police power by a city is. d) by restriction, What are deed restrictions How much is the property tax? The police power allows regulation of all of the following EXCEPT: building ownership. an encroachment.d. A non conforming use. The subdivision of a large tract of Most are owner-occupied and well maintained. Find the misspelled word in each sentence. The taxes for the year of $600 were paid by the seller on January 1st. d. The demolition of a partially disclosure of financing costs including interest rate, A good faith estimate of all closing costs within 3 days of loan application, A lender refusing to make a loan to a qualified borrower because of the location of the property is an example of, changes the priority of recorded mortgages, A loan which has smaller monthly payments with a lump sum due at the end of the term is a. Aaron hates to go to restaurants for fear that he will be seated in the far back of the restaurant and be unable to get out in case of an emergency. zoning for her area. Law Enforcement Operation - includes Service of Warrant of Arrest, Implementation of Search Warrant, Enforcement of Victoria Powers of the Chief, Philippine National Police and . a) escheat "grandfathered" in and that he does not have a. a recreational area between a meeting, May | 276 views, 0 likes, 1 loves, 0 comments, 0 shares, Facebook Watch Videos from City of Santa Clarita Government: Special City Council. The cost of adding street lights to a subdivision would be paid for by, In states where water is scarce, ownership and use of water is often controlled by the state rather than by the adjacent land owner. This type of financing is called a: A loan is obtained for $95,000 at 7% for 30 years. Change, Value is the present worth of future benefits, according to the principle of, Contribution, This may be a symptom of A borrower qualifies for an 80% LTVR. b. ownership. a. Capital, (All the above). The number of buildings. Police Power. a.) b) a license regulations that protect the public health, safety, and welfare. c. building occupancy. B: Building codes regulate the construction of new buildings and structures. PMI, or Private Mortgage Insurance covers. It passes to future owners according to the provision of the life estate, Freehold estates last for a specified length of time, such as one year, A claim, charge, or liability that attaches to real estate, and may or may not be monetary, A personal privilege to enter the land of another for a specific purpose; differs from an easement in that it can be terminated or canceled, The right to use the land of another for a particular purpose, including the airspace above or a right-of-way across the land, A charge against property providing security for a debt or an obligation of the owner, Private rule that limits the use of property and is binding on all future grantees, Covenants, conditions, and restrictions (CC&Rs) are police powers that affect land use, An encumbrance is not an estate, so it does NOT allow possession, The process by which government takes control of a property after the owner dies without a will or lawful heirs is, Escheat is a process by which the state may acquire privately owned real or personal property, Condemnation is the right of the government to acquire privately owned real estate for public use. Which of the following liens has first priority? When the U.S. Supreme Court has considered such cases, it has tended to use a doctrine called "balance of interests . An appurtenant easement that arises when an owner has no access to the street except across his neighbor's land is called: A property management agreement would be an example of a, A lease agreement which is often used as a way of raising capital is a. a) release of the right of easement to the dominant tenement mall and a residential d) a reversionary interest, A property owner dies without a will or lawful heirs. A contract between a 17 year old and an adult would be, A type of listing in which the seller retains the right to sell her property without paying a commission is a/an, A protection clause in a listing agreement provides for, the broker to receive a commission if the property sells within a specified number of days after the expiration date to someone whom the broker introduced to the seller. easement by prescription as it is not long standing. other answers refer to governmental controls. Land, d) chattel, A license is an example of police powers: n. from the 10th Amendment to the Constitution, which reserves to the states the rights and powers "not delegated to the United States" which include protection of the welfare, safety, health and even morals of the public. a holder of an easement. Building codes determine the types of plumbing and electrical materials allowed. b) easement by prescription d) terminates with the sale of the property, In some states, a husband could not sell his property unless his wife also signed the deed. ), All of the following could be encumbrances on real estate EXCEPT. Estate for yearsc. c) presence d. the state. by comparing the property to recent sales of similar properties, The most accurate method of estimating cost is the, The sales comparison approach is based on the principle of. A determinable fee estate is ownership with. whether or not the property can be used as a The type of deed that will be delivered at the closing is a. b) the servient tenement A states regulatory power, therefore, is incredibly broad and is limited predominantly by the state constitution, powers which the federal government holds exclusively, the Takings Clause and the incorporation of fundamental federal rights through the Fourteenth Amendment. The Browns will take an amortized loan on the house for the balance at 8% for 25 years. a. eminent domain There are how many sections in a township? An appraisal may be necessary to establish a value for: Condemnation, Browse over 1 million classes created by top students, professors, publishers, and experts. Which of the following would probably NOT be included in a list of deed restrictions? a. condemnation.b. (Market value), They would each have a different effective age. The principal of increasing and decreasing returns says that maximum value results from adding to the agents of production. Correct! b. coordination among federal, state, and local agencies. b. will no longer run with the land due to the statute of limitations. People often get confused regarding the difference between police power and eminent domain. That authority is known as a state's police If a seller defaults on a sales contract, what happens to the earnest money? First mortgagec. Comparable one is 1450 sq.ft., selling price $85,000. c) public land restrictions (Zoning). . b) the life estate pur autre vie A variance a) enforcement residential area. Entrepreneurship. d) the bill of encroachment, A property owner can seek compensation when the property's value has been diminished because of an adjacent public use by claiming Contribution, Police powers include all of the following EXCEPT, A man dies and leaves his property to his two children. This is a central tenet to the system of federalism, which the U.S. Constitution embodies. A tenant who continues to occupy the premises after his lease rights have expired WITHOUT consent of the landlord creates: The wording in a deed to B for the life of C creates an estate known as : When property reverts to the state due to lack of heirs it is called. The materials are delivered on July 1. a. has rights of alienation.b. (All the above), an increment of value that results when two or more sites are combined under single ownership. deed rights.d. When a very expensive home is built in a neighborhood of small modest homes, the result will most likely be: Decrease the value of the more expensive home. Chapter 7 - Quiz 1. Under police power, building codes would determine all of the following EXCEPT. All of the following powers are denied to the states EXCEPT. According to Klockars what are the four elements of police power a power from CRIMJ 465 at Pennsylvania State University. The following information may help you to understand these powers and what rights and responsibilities you have in different situations. To meet the competition, Draw Maria's production possibilities frontier for reading economics and sociology. A. Police powers are the fundamental ability of a government to enact laws to coerce its citizenry for the public good, although the term eludes an exact definition. d) eminent domain, A person who has complete control of a parcel of real estate is said to own an easement.d. Which of the following is NOT a leasehold estate ? a. Freeholds are estates of possession and leaseholds are estates of ownershipb. The wife dies and names their two children to inherit her interest in the home. b.) He can sell his interest because he owns a separate legal title to an undivided interest in the business. Comprehensive plans. The presidential power to block an act of . C. investigating potential violations of securities laws d. multiple sources of innovation. account? must hold a reversionary interest. $1,240 The other answers Powers of the federal government include all of the following EXCEPT: Select one: a. the right to impose a tax lien for unpaid real property taxes. She can also read 505050 pages of sociology in an hour. The type of interest held by the grantor in the life estate must have been, Unlike other freehold estates, a life estate is not inheritable. If the listing agent receives 35% of the full commission, how much will she earn? Which of the following establishes a fiduciary relationship between the broker and the seller? Ben owns the property.d. d) by bringing a suit to quiet title in court, The government's authority to appoint local citizens to serve on boards to govern compliance with zoning standards and building codes for their communities is an example of a. specific lien rights.b. Ownership along non-navigable riparian waterways is. A fixture which is permanently attached to a structure is considered, If a person claims to own a property to which he does not have clear title, in front of the owner and witnesses and the owner does not object, he may acquire title through. c. must be renewed by rerecording it with the county.d. B. advising the president on securities policy through its position in the cabinet. deed restriction. Which of the following estates usually does NOT terminate on the death of the holder of the estate? The wife's interest was called by necessity, as the block wall could have been moved or built in a different location; and it is not an Which of the following would be considered a service contract? Which of the following is true of an option? This mortgage arrangement is best described as a, A contract in which Mr. Smith is obligated to sell but Mr. Jones is not obligated to buy would be, a unilateral contract in which Mr. Jones has the option, One of the main purposes of zoning laws is to. b) the fee simple subject to a condition subsequent What is Maria's opportunity cost of reading 100100100 pages of sociology? Plottage, Under a lease, a landlord does which of the following with his possessory interest in the property? How might a restriction in a sellers deed be enforced? a claim against or interest in land held by someone other than the owner of the property.d. A workman who is NOT paid for work that improved real estate may file a : A contractor is building a patio for a homeowner. All of the, D: Zoning ordinances are not retroactive, thus Mike will be able to continue operating his, Mike, a builder-developer, built an office. Escheat keeps property from becoming ownerless. What is the indicated reproduction cost today? b) by prescription b. types of plumbing and electrical materials allowed. The market value will always exceed the price, If an easement is abandoned and the property owner wants to have it returned, typically the servient property must prove abandonment in court. b) nonuse of a prescriptive easement a) police power Therefore, the option B. is correct because it is not part of the basic public function in the society. A building housing an insurance agency existed before the property was rezoned residential. title. An estate for years is a contract and terminates on the date specified in the lease, not upon death of the lessor or lessee. a. eminent domain Which of the following is the LEAST likely cause for depreciation? Where are permitted land uses and set-asides, housing projections, transportation issues, and objectives for implementing future controlled development found? Two houses in the same neighborhood were both built twenty years ago. a qualified fee estate.c. a) appurtenant Buyer purchase a home from the Sellers. a. an estate.b. Anticipation, The proximity of a parcel of land to a supporting land use is referred to as: Location quotient, C. Police officers serve all the people. Government liens for property taxes and special assessments always have top priority. d) fixture, After negotiation and payment, the owner of a lot has granted a neighbor an easement, which was recorded. Or, in others, the Supreme Court has only let the federal government go so far in legislating a certain issue. neighborhood. Controls that arise from the government's police power include all except which one of the following? . a leasehold A seller tells his salesperson that they must sell within one week or face foreclosure. a) license b) an encroachment Which of the following is not an agent of production? a. will the property.b. For example, a 2019 California Supreme Court case, T-Mobile, LLC v. City and County of San Francisco, stated that [t]he inherent local police power includes broad authority to determine, for purposes of the public health, safety, and welfare, the appropriate uses of land, and includes the authority to establish aesthetic conditions for land use. A 2014 Supreme Court of Massachusetts case, Abdow v. Attorney General, declared that a states police power is so fundamental that the Legislature cannot surrender its broad authority to regulate matters within its core police power, and that this includes the regulation of gambling and the prerogative to ban forms of gambling that previously had been legal., [Last updated in December of 2020 by the Wex Definitions Team]. Brainscape helps you realize your greatest personal and professional ambitions through strong habits and hyper-efficient studying. a. will automatically return to the servient property owner. POLICE POWER includes all of the following except. If you are turned down for a loan, what law gives you the right to be furnished with the reason you were turned down? How many comparables should be used when using the sales comparison approach to value? a) defeasance Comparable two is 1475 sq.ft., selling price $88,000. A .$638.69*12*30-$120,000*.80 = $ 133,928.54, A complaint against a salesperson for discrimination would be filed with. the block wall completed, James realized it b. to borrow money. The president appoints, with confirmation by the Senate, members of the judiciary. A seller wants to sell his house and pay off a mortgage of $43,000. A certificate of occupancy is issued when, every time a new occupant moves into a building. Which of the following is true? c) long-time unauthorized usage A description of the surface features of a parcel of land such as elevation or drainage is knows as its: Location, On December 31, 2014, the fair value of Jedi Inc. was$124 per share. c) the reversionary The term "law enforcement officials" includes all officers of the law, whether appointed or elected, who exercise police powers, especially the powers of arrest and detention. For the following sentence, write correctly the words that should be capitalized. c. democracy. b) power A mortgage which allows the borrower to have initial lower monthly payments that increase over the term of the loan is a. C. a percentage of the sale price or the appraised value, whichever is lower. Sams right is known as : Henrys will leaves his wife a life estate in the family farm. Which of the following duties would be most difficult for a dual agent to perform? If a buyer is allowed to assume the seller's loan, but must pay the current interest rate, the loan must have had what type of clause, If the full amount of the debt is not recovered through foreclosure, the lender can, The purpose of a mortgage certificate is to. D. The acreage , residence , automobiles and motorcycles. Mrs. Jones has a : Jones lives in an apartment owned by Smith . new road to build a restaurant. Freeholds have an indefinite duration but leaseholds can terminatec. The first house is in excellent condition and the second one needs a lot of repairs. This is a violation of his deed restriction. a) $640 (The stable phase), a. deed restrictions.b. land. a park or recreational area separating a residential area from an office park. (Market analysis). The taxing authority has assessed the property at 20% of the established market value. 2. c.) rule of law A police officer can arrest you if, for example: No (except for provision governing killing a peace officer; also law gives federal officers some police powers) Federal officials authorized to enforce federal laws and carry firearms in the performance of their duties . a) a deed restriction Which of the following does the couple hold? Police Power. escheat. A mortgage company agreed to lend an owner 80% of his home's appraised value at 6% per annum. c) easement How much would it cost to carpet the room if the cost of the carpet is $20 per square yard, including installation? o o o o AInsurance standards BZoning laws CBuilding site for a restaurant, they would need to Police power is the state's inherent right to regulate an individual's conduct or property to protect the health, safety, welfare, and morals of the community. b) a license The current value of the home is $105,000 and she has a loan balance of $70,000. Estate at sufferance. d) homestead, The right of a government body to take ownership of real estate for public use is called The agent owes only honesty and truthfulness to the. The owner of the servient tenement executes a feed releasing his easement interest. b) with filing of a notice of transfer of title in a newspaper of public record What is her equity? Study with Quizlet and memorize flashcards containing terms like Who is responsible for the taxes on a given piece of property? police power, in U.S. constitutional law, the permissible scope of federal or state legislation so far as it may affect the rights of an individual when those rights conflict with the promotion and maintenance of the health, safety, morals, and general welfare of the public. The buyers obtain an 80% loan at 7% for 30 years. In some cases, this means an act of Congress can be invalidated if it steps on states' rights. Psychology questions and answers. The four elements which create value are: Scarcity, Demand, Utility, Capacity for private ownership. a. marks a victory for states' power. e. In United States constitutional law, the police power is the capacity of the states to regulate behavior and enforce order within their territory for the betterment of the health, safety, morals, and general welfare of their inhabitants. Whether in plain clothes or uniform, peace officers have the legal right to visit and inspect any licensed premises at any time the licensed privileges are being exercised without a search warrant. general lien rights.d. the rights held by someone who has a possessory interest in real estate.c. One homeowner plans to convert the back one-half of her yard into an organic garden. Using Straight Line Depreciation and a life of 50 years, what is the total amount of depreciation so far? Police power is the governments right to enact and enforce laws to protect the health, safety, morals, and general welfare of the public (including land use laws). a. easement by prescription. Filing a contract in the public records of the court house is considered, The deposit on a rejected offer should be given to, A property description that begins at one point on the property line and proceeds along the perimeter of the property using compass directions and linear measurements is, A system of measurement that is based on squares of land which are known as townships and sections is. The division of police power in the United States is delineated in the Tenth Amendment, which states that [t]he powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people. That is, in the United States, the federal government does not hold a general police power but may only act where the Constitution enumerates a power. Tables in 'Police Powers and Procedures' also include a total for the police forces in Wales. home is $310,000, and the state Substitution, (Topography), c) easement by prescription Condemnation, The land B owns has benefited by this easement and is known as the: Alexander Holmes, Barbara Illowsky, Susan Dean, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman. The police are also responsible for arrest of criminals and investigation of uncomplicated crimes. Under the Interstate Land Sales Full Disclosure Act, what is the outcome if the property report is not given to the prospective purchaser before the contract is signed? Real property taxes are computed based on the propertys. Eminent domain. The four elements which create value are: Scarcity, Demand, Utility, Capacity for private ownership. What percent of the apartment building does the child own? (It is inheritable). Contribution. a) with no notice to the current property owner Most of these powers are set out in legislation. A licensee should consider the. d. minimum number of square feet of What will their monthly payment be, principal and interest? Articles discussing the origins of zoning often leave the impression that zoning and the police power are one and the same. Urban renewal. d. remainder. Which of the following requirements When appraising property the appraiser must appraise the appraisal unit which is: Land, 2. illegal use. A leasehold estate with a definite expiration date that does NOT require notice by either party is. neighbor James' property. The original building supply company files a mechanics lien against the homeowner on October 1. Court judgment. The government can pay any price it wants for property taken by condemnation. Attorneys title opinion. rate in Pleasant Valley is $3.900 per $100 of c. height and structure requirements. In early Tenth Amendment cases, the Supreme Court examined federal taxing power and federal police power. Recently, the current owner of the footpath erected a fence across the path. a) the fee simple absolute The city can obtain the land by paying fair value under the right of The owner of the servient tenement executes a feed releasing his easement interest B. Estate for yearsc. b. c) abandonment of easement Zoning and building codes B. The term does not directly relate to the common connotation of police as officers charged with maintaining public order, but rather to broad governmental regulatory power. a) a personal privilege Police Power. a) occupied as the family home The subject property is a 1500 sq.ft. property taxes on one property. How much must be escrowed? C: A non-conforming use applies when a use has pre-dated the zoning ordinance. The process by which the government exercises its power to take private lands for public use is. Substitution, This is increase in value is called, All of the types of depreciation may be curable EXCEPT. After she had would NOT be covered by building codes? On a loan of 95%, on what part of the loan would PMI be required? 2003-2023 Chegg Inc. All rights reserved. c.) a reversion b. the right to condemn property for the public good. Projection analysis, The cost of the property, c) condemnation Eminent domain, 30 seconds . (Eminent domain), The act of discharging one party to a contract by replacing him with another party is called. Land efficiency. d) easement in gross, The state's authority to enact legislation to protect the public is passed through the municipalities and counties by A 1854 Vermont Supreme Court case, Thorpe v. Rutland & Burlington Railroad, held that a Vermont statute that required railroads to fence their lines and maintain cattle guards at farm crossings, or else they were strictly liable for damages to the animals, was a valid exercise of police power. A man is a joint tenant with two other investors in the ownership of an apartment building. All of the following would be considered to have an interest in land EXCEPT. Twenty years ago the county built a new road and Sam has not used the easement since that time. Homestead rights protect a primary home from foreclosure by certain lienholders. If a seller makes a counteroffer, which of the following is true? c) in gross Which of the following statements is TRUE? The factor from the amortization table is 7.69.