General Principles of Agency & Land Use Controls and Regulations

Tristan refuses to let Marla list his property on the MLS, even though Marla knows that more exposure to the property would generate more potential buyers. Which two fiduciary duties are at odds in this situation?

• Loyalty & obedience

• Reasonable skill and care & confidentiality

• Loyalty & confidentiality

• Obedience & reasonable skill and care

Which of these circumstances does NOT require agent disclosure?

• As part of his corporation, Sean, a licensee, owns several investment properties. He's selling one

• Marty is representing Dwayne in both the sale of Dwayne's current home and the purchase of his new home

• Gary represents the buyer. He's a shareholder in the title insurance company the buyer has selected

Which of these statements best describes a listing that terminates by performance?

• Greg lists a property that fails to sell during the terms of the listing agreement. However, he's performed all the tasks promised to the seller

• Marty lists Todd's condo. With Marty's efforts, they get to closing, only to have the buyer's financing fall through

• Roberto lists a property for Terrance. After 2 failed offers, the property makes it to a successful closing

In which of the following situations would the state be able to use its power of escheat?

• Sam died with no will and his son lives overseas

• Hannah passed away with no children and no debt, other than $83,000 left to pay on her mortgage

• Nadine died with no children & no debt

• Maury died and his children are upset because his estate isn't large enough to settle all of his debts

Adams County implemented a 10:00pm curfew for people under 18 because of the high number of fights occurring late at night in public places. Which of the following gives Adams County the right to restrict the movements of its minor citizens?

• Police power

• Doctrine of laches

• Power of escheat

• Municipal master plan

Robert is the general contractor for a home under construction in a new development. The foundation has been poured, and he's working with the homeowners to make some decisions that weren't identified in the blueprints he's working from. Which of the following details will be guided by local building codes?

• Number & type of windows per square foot

• Material used for shingles

• Placement of gas range in the kitchen

• Number & type of electrical breakers

Josh must obtain a permit for a construction project that he's doing right next to wetlands. Which federal law or regulation requires him to get the permit?

• Army Corps Construction Regulations

• Clean Water Act

• Coastal Zone Management Act

• Rivers & Harbors Act

Latrell purchased an old warehouse intending to create shared studio space for artists. However, he didn't perform due diligence before the purchase & it turns out that there are hazardous materials present that need cleaned up first. Latrell took the previous owner to court, & the court ruled that Latrell is responsible for the costs of cleanup. What kind of liability is this?

• Joint Liability

• Retroactive Liability

• Several Liability

• Strict Liability

A requirement that all property owners in a subdivision have a 6-foot privacy fence surrounding their entire property is an example of a ______________.

• Restrictive covenant

• Deed restriction

• Doctrine of laches

• Deed

Chrissy lives in Lake Ridge Estates, a neighborhood in which vinyl siding may not be used on homes. This HOA regulation is what kind of private land control?

• CC&R

• Deed restriction

• Law

• Regulation

Answer explanation

CC&Rs apply to an entire subdivision, while deed restrictions apply to a specifically named property