Exam (elaborations)
PSI PA State Real Estate Practice Exam Questions and Complete Solutions Graded A+
- Course
- Institution
PSI PA State Real Estate Practice Exam Questions and Complete Solutions Graded A+
[Show more]
Content preview
PSI PA State Real Estate Practice ExamQuestions and Complete Solutions
Graded A+
Requires the seller to provide notice to a purchaser about whether a structure on the land is entitled to
support from the underlying coal. - Answer: Coal Notice
Three conditions that must be met for a mobile home to be considered real estate - Answer: 1. Mobile
home is transferred in conjunction with and as a part of an assignment of a land lease or the transfer of
an interest in land on which the mobile home is situated; or
2. Mobile home is permanently attached to a foundation, and
3. Registration of the mobile home is canceled by the owner with the Pennsylvania Bureau of Motor
Vehicles
The governing body of a municipality is responsible for enacting the comprehensive plan, zoning, and
subdivision ordinances in accordance with procedures in the Pennsylvania Municipalities Planning Code.
They may appoint a planning commission to be responsible for formulating the recommended plans and
ordinances. Public hearings must be held prior to their enactment by the governing body. - Answer:
Zoning
Charges permitted by the Pennsylvania Municipalities Planning Code to help defray the cost of streets to
keep up with development - Answer: Impact Fees
Went into effect in July 2004, as prescribed by the Pennsylvania Construction Code Act that was passed
in 1999. *In addition to satisfying the purpose of construction codes, the act encourages the use of
state-of-the-art construction methods and systems and eliminates existing codes that are obsolete,
overly restrictive, or conflicting. - Answer: Uniform Construction Code (UCC)
Oversee's PA's environmental laws - Answer: Department of Environmental Protection
Passed by the Department of Environmental Protection *Gives notice to prospective buyers that if a
property is not serviced by a public sewage system and no community sewage system is available, a
permit for an individual system must be obtained - Answer: Pennsylvania Sewage Facilities Act in 1994
, Provides for the rehabilitation or recycling of brownfields by providing a mechanism to enforce hazard
mitigation controls and ease concerns about the future liability associated with contaminated properties
- Answer: Uniform Environmental Covenants Act (UEAC), which took effect in February 2008
Burdensome disclosure requirements are readily satisfied -Mitigation controls can be enforced
regardless of ownership - Answer: Benefits of the UEAC
True or False Pennsylvania, has abolished the common law concepts of dower and curtesy. - Answer:
True
Created when the person claiming the easement has made use of another's land for 21 years in PA. The
claimant's use must have been continuous, exclusive, and without the owner's approval. Through the
principle of tacking (discussed in Unit 5), successive periods of adverse possession by different adverse
possessors can be combined so that a person who is not in possession for the entire statutory time may
establish a claim.The use must be visible, open, and notorious, that is, the owner must have been able
to learn of it. The claimant is entitled to assert a right to use the property and cannot claim ownership.
Prescriptive easements cannot usually be acquired on public land. - Answer: Easement by Prescription
The Pennsylvania Landlord/Tenant Act also specifies the time period that is required for notice in a
variety of circumstances - Answer: Normally, one week's notice is required to terminate an estate from
week to week; one month's notice is required to terminate an estate from month to month; and three
months' notice is required to terminate an estate from year to year.
True or False The statute of frauds in Pennsylvania requires contracts for more than two years duration
to be in writing. - Answer: False, contracts for more than three years duration are required to be in
writing. However a written agreement can be used for any period of time.
In Pennsylvania, the law requires payment of transfer taxes on leases that run for more than a total of
____ years. - Answer: 30
Limits on Security Deposits - Answer: 1st Year-the maximum amount of the security deposit cannot
exceed a sum equivalent to two months' rent 2nd Year-the amount drops to a sum equivalent to one
month's rent During years 2-5-the landlord may increase the amount of security deposit, following the
same monthly equivalency formula, to keep pace with increasing rents After 5 years- the landlord
cannot increase the amount of security deposit.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller YourExamplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81531 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now