놓치면 안될 부동산 시험 문제 #2

Title Insurance

: Chain of title (Cloud title => Quiet Title Action / Color title => Fraud)

CLTA : Standard
ALTA : Extended policy

– 응용문제 출제(커버되는 경우와 안되는 경우)

Acquisition

Will (holographic, witness) / Accession / Succession / Transfer / Occupancy(easement, adverse possession)

Private Grant :

Grant Deed (Granting clause) : Delivered to and accepted by Grantee / Constructive Notice (recording)
Quitclaim deed (No warranty)
Reconveyance Deed : within 3 weeks

Public Grant :

Patent Deed (ex. Irvine)
Condemnation = Eminent Domain
Execution Sale
Escheat (revert to state, probate sale)

Escrow : Neutral / Incorporated / Proportion (tax, interest, premiums on fire insurance, deposit and rent)

Tax date / Tax sale (5 year) – Redemption Period

Mello-Roos (Seller disclosure / Special Assessment Tax)

Tax Deferred Exchange (1031 Exchange) : No personal residence / same kind / within 45 days appointed & 180 days closed after escrow close)

FIRTA : (Foreign seller) over $300,000 -> Hold 10% of selling price in Escrow

 

Subdivision Law : to define the rules and procedures for filling maps concerned with
Subdivision Land Act (D.R.E) : To protect buyer from fraud, mispresentation or deceit (3 years : keep a copy of the statement)

Subdivision Map Act : 2 ~ 4 lots(SFR) or parcels, local authorities
Subdivided Land Act : 5 or more, real estate commissioner

 

UP Zoning & Down Zoning

Spot Zoning / the application of zoning to a specific parcel or parcels of land within a larger zoned area when the rezoning is usually at odds with a city’s master plan and current zoning restrictions
Floating Zoning : zoning district that delineates conditions which must be met before that zoning district can be approved for an existing piece of land
Inclusionary Zoning : IZ policies either require or encourage new residential developments to make a certain percentage of the housing units affordable to low- or moderate- income residents

Alquist-Priolo Special Studies Zone Act (1/4 Miles)
Residential Lead-Based Paint Hazard Reduction Act (1978)

PUD : Planned Unit Development

Fair Housing Laws

Monopoly / Price Fixing / Group Boycoting / Market Division

California Fair Employment and Housing Act : Discrimination in the sale, rental or financing of practically all types of housing is illegal

 

Federal Laws (Civil Right Act 1866 : Slave / U.S Supreme Court Case of Jones vs. Mayer 1968 : Nation origin, Color, Religion, Sex / HUD 1988 : Age, Sex Handicapped)

EER (Energy Efficiency Rate) – high and good

Advertising Sample Questions : Seek for a woman roommate of woman (Legal)

T.D.S (Transfer Disclosure Statement) – A first reason of deal cancellation, After acceptance within 5 days. – 긴 응용 문제가 많이 나옴.

Contract

Legal competent parties :

No minor (18 years)
Power of Attorney (a written instrument(=document) giving a persin legal authority to act on behalf of another person / General & Special)
Attoney in fact (An unqualified agreement to the terms of an offer = a person who hold)

Mispresentation (Innocent / Negligent (4 years – legal action) / Fraudent)
Physical default (2 years – legal action) – California Transaction Law

Valid period of Offer : 3 days

Contract :

Express <-> Implied / Bilateral <-> Unilateral / Executory <-> Executed
Void (계약 처음부터) / voidable (소송의 의해 파기) / Unenforceable (수행 불가능) / Valid

Agency Relationship : Agreement, Ratification, Estoppel

Estate for Years (만료기간이 있는 리스 계약)
Estate at Will (일방적으로 파기 가능)
Period to Period (Month to Month) -> Rent not lease -> Landlord (60 days notice), Tenant (30 days notice) -> Return deposit within 3 weeks
Estate at Sufferance : 리스기간을 넘겨 점유한 세입자

Payment of Rent

Gross Lease – Apartment
Net Lease – rent + propery tax + maintenance + insurance) – Not good for tenant
Graduated Lease
Percentage Lease

retaliatory Eviction : 보복성 강제퇴거

Assignment (Good to Landlord) / Sublease (Partially – Lease Payment)

 

Free Listing Website – HouzeQ

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