Chapter 1 Exam Questions Questions & Answers 2024

You have a prospective purchaser for a home and the listing agent has not been able to provide you with a legal description. Which statement describes your best course of action? Complain to the Real Estate Commission Write an offer without a legal description Find the legal description yourself at the courthouse or on the computer Contact the seller yourself {Ans: Find the legal description yourself at the courthouse or on the computer}If Smith builds a fence on Jones' land by mistake, in good faith, and thinking the fence is on Smith's land, then: A. Jones automatically acquires ownership of the fence by accession. B. Jones may sell the fence and keep the proceeds. C. Jones may require Smith to remove the fence and/or pay damages. D. both (A) and (B). {Ans: Jones may require Smith to remove the fence and/or pay damages.}Dawson sold his 500 acre farm to Harris, but reserved the right to drill for oil. Later, when Dawson arrives with oil drilling equipment, he is denied the right of access to the land. Which party has correctly interpreted the agreement? A. Dawson, because he has an implied right of entry. B. Harris, because the agreement