CAS Bar Property Law

Question 1

What is California's community property system?

Accepted Answer

Property acquired during marriage is presumed equally owned by both spouses

Answer

California is a community property state where all property acquired during marriage through either spouse's efforts is presumed to be owned equally by both spouses.

Question 2

What disclosures must a seller make when selling residential real property in California?

Accepted Answer

A Transfer Disclosure Statement covering known material defects and property conditions

Answer

California Civil Code requires sellers to provide a Transfer Disclosure Statement (TDS) disclosing known material facts about the property's physical condition, including defects.

Question 3

What is the California Environmental Quality Act (CEQA) and how does it affect real property?

Accepted Answer

It requires environmental review before approving development projects that may significantly impact the environment

Answer

CEQA requires state and local agencies to identify environmental impacts of proposed projects and to avoid or mitigate those impacts before approval.

Question 4

What is Proposition 13's impact on California property taxes?

Accepted Answer

It limits property tax to 1% of assessed value and restricts annual assessment increases to 2%

Answer

Proposition 13 (1978) caps the property tax rate at 1% of the property's assessed value at time of purchase and limits annual assessment increases to no more than 2%.

Question 5

What is a lis pendens in California real property law?

Accepted Answer

A recorded notice that litigation is pending that may affect title to the property

Answer

A lis pendens is recorded in the county recorder's office to provide public notice that a lawsuit has been filed that involves a claim affecting real property title.

(CAS Bar) California State Bar Exam Practice Test

(CAS Bar) California State Bar Exam Practice Test

CAS Bar Property Law