New York State Exam New York Real Estate 4

Question 1

In New York, a contract for the sale of real property must be in writing to be enforceable under the:

Accepted Answer

Statute of Frauds

Answer

The Statute of Frauds requires real estate contracts to be in writing and signed to be legally enforceable.

Question 2

Under New York law, a lis pendens recorded against a property provides notice that:

Accepted Answer

Litigation is pending that may affect title

Answer

A lis pendens (notice of pendency) puts the public on notice that a lawsuit affecting the property's title is in progress.

Question 3

Which of the following is an example of a general lien under New York real property law?

Accepted Answer

Judgment lien

Answer

A judgment lien is a general lien that attaches to all of the debtor's real property within the county, not just one parcel.

Question 4

A New York condominium unit owner holds:

Accepted Answer

Fee simple title to the unit and an undivided interest in common elements

Answer

Condo owners hold fee simple title to their individual unit plus an undivided interest in the building's common elements.

Question 5

Under New York's lead paint disclosure requirements, sellers of pre-1978 homes must provide buyers with:

Accepted Answer

An EPA-approved lead paint pamphlet and disclosure form

Answer

Federal law (implemented in NY) requires providing the EPA 'Protect Your Family' pamphlet and a signed disclosure form for pre-1978 properties.

New York State Exam Practice Test