CP CP Real Property Law

Question 1

In California, title to real property held by two unmarried co-owners with equal shares and a right of survivorship is called:

Accepted Answer

Joint tenancy

Answer

Tenancy in common

Answer

Community property

Answer

Tenancy by the entirety

Question 2

California's primary document used to transfer real property from a seller to a buyer is a:

Accepted Answer

Grant deed

Answer

Mortgage deed

Answer

Promissory note

Answer

Reconveyance deed

Question 3

Under California's homestead exemption, the primary purpose is to:

Accepted Answer

Protect a portion of a homeowner's equity from general creditors in forced sale

Answer

Reduce property taxes for senior citizens

Answer

Allow faster recordation of title documents

Answer

Grant agricultural tax benefits

Question 4

A deed of trust in California differs from a mortgage in that:

Accepted Answer

A deed of trust involves three parties (trustor, trustee, beneficiary) and allows non-judicial foreclosure

Answer

A deed of trust always involves only two parties

Answer

A deed of trust cannot be used for commercial property

Answer

A mortgage provides lower interest rates

Question 5

Which California statute governs residential landlord-tenant relationships, including security deposit limits?

Accepted Answer

California Civil Code § 1940 et seq.

Answer

California Code of Civil Procedure § 1161

Answer

California Health and Safety Code § 17920

Answer

California Business and Professions Code § 10000

Question 6

In California real estate transactions, escrow closes when:

Accepted Answer

The deed is recorded and funds are disbursed to the seller

Answer

The purchase agreement is signed by both parties

Answer

The buyer obtains loan approval

Answer

The title report is issued