NYLE NY Real Property Law 2

Question 1

Under New York Real Property Law (RPL) § 291, what type of recording system does New York use?

Accepted Answer

A race-notice recording system

Answer

A pure race recording system

Answer

A pure notice recording system

Answer

A Torrens title registration system

Question 2

Under New York law, what are the essential elements of adverse possession?

Accepted Answer

Possession that is hostile, under claim of right, actual, open and notorious, exclusive, and continuous for the statutory period

Answer

Any occupation of property for more than five years

Answer

Filing a claim with the county clerk asserting ownership

Answer

Payment of property taxes for 10 consecutive years

Question 3

Under New York RPL § 235-b, what is the implied warranty of habitability?

Accepted Answer

A non-waivable warranty that residential premises are fit for human habitation and free from conditions dangerous to life, health, or safety

Answer

A warranty that all appliances will function for the lease term

Answer

A guarantee that the landlord will make cosmetic improvements annually

Answer

A warranty that applies only to commercial leases

Question 4

Under New York law, what is required for a valid deed to transfer real property?

Accepted Answer

A writing signed by the grantor, a description of the property, identification of the grantee, and words of conveyance

Answer

Only a verbal agreement between buyer and seller

Answer

A writing signed by both grantor and grantee

Answer

A court order approving the transfer

Question 5

Under RPAPL Article 7, what process must a landlord follow to evict a residential tenant in New York?

Accepted Answer

Serve proper notice, file a petition in court, obtain a judgment of possession, and have a marshal or sheriff execute the warrant of eviction

Answer

Change the locks and remove the tenant's belongings

Answer

File a police report and have the tenant arrested for trespassing

Answer

Send a certified letter and wait 30 days for the tenant to leave

Question 6

Under New York law, what is a cooperative apartment (co-op) and how does ownership differ from a condominium?

Accepted Answer

In a co-op, the buyer purchases shares in a corporation that owns the building and receives a proprietary lease; in a condo, the buyer owns the individual unit as real property

Answer

Co-ops and condos are legally identical

Answer

A co-op owner holds a deed to their apartment, while a condo owner holds shares

Answer

Both co-ops and condos involve ownership of shares in a corporation