CA_RE_Principles_10E_Ansker Key Split.pdf - ANSWER KEY UNIT 1 Exercise 1-1 Page 7 No The broker cannot delegate primary responsibility for all brokerage

CA_RE_Principles_10E_Ansker Key Split.pdf - ANSWER KEY UNIT...

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UNIT 1 Exercise 1-1, Page 7 No. The broker cannot delegate primary responsibil- ity for all brokerage activities, which must be lawfully authorized. Exercise 1-2, Page 28 Salesperson Sally has, arguably, engaged in a dishon- est business practice that could result in suspension or revocation of her real estate license. Broker Bob should have reviewed the newsletter before allowing Sally to print and distribute it, particularly because she is a new, inexperienced salesperson. Bob thus shares in Sally’s conduct. Review Questions, Pages 33–35 UNIT 2 Exercise 2-1, Page 48 A motor home is personal property because it is intended to be readily moved and is not attached to land. A space heater that is a freestanding appliance is personal property. A wall-mounted space heater is a fixture. A brick patio is a fixture because it is permanently attached. A fireplace is a fixture. Patio furnishings are personal property because they are not attached to the land. Wall-to-wall carpeting is a fixture because it is attached to a building in such a way that it cannot be readily removed. ANSWER KEY
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554 Answer Key Review Questions, Pages 59–60 UNIT 3 Exercise 3-1, Page 65 1. Life estate 2. Fee simple estate subject to a condition subsequent 3. Fee simple estate subject to a condition subsequent 4. Estate of tenancy 5. Simon has a life estate. Yvonne has a remainder while the life estate is in existence. If Simon dies before Annette, his heirs acquire the life estate until Annette’s death. On Annette’s death, Yvonne has a fee simple estate. Exercise 3-2, Page 71 1. Joint tenancy 2. Community property 3. Tenancy in common 4. Tenancy in partnership 5. Separate property held in sole ownership Exercise 3-3, Page 75 1. Corporation 2. Sole proprietorship 3. Syndicate held as a limited partnership 4. Trust Review Questions, Pages 77–78 UNIT 4 Exercise 4-1, Pages 90–91 1. Helen owns the condominium as separate property. 2. George and Helen own the house as community property. 3. Yes, by the power of eminent domain. 4. Perhaps not. George and Helen are entitled to the
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