PSI PA State Real Estate Practice Exam Questions and Answers
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Course
PSI PA State Real Estate
Institution
PSI PA State Real Estate
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 - ️️Uniform Environmental Covenants Act
(UEAC), which took effect in February 2008
...
PSI PA State Real Estate Practice Exam
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 - ✔️✔️Uniform Environmental Covenants Act
(UEAC), which took effect in February 2008
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. - ✔️✔️Easement by Prescription
Requires the seller to provide notice to a purchaser about whether a structure on the
land is entitled to support from the underlying coal. - ✔️✔️Coal Notice
Three conditions that must be met for a mobile home to be considered real estate -
✔️✔️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. - ✔️✔️Zoning
Charges permitted by the Pennsylvania Municipalities Planning Code to help defray the
cost of streets to keep up with development - ✔️✔️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. -
✔️✔️Uniform Construction Code (UCC)
, Oversee's PA's environmental laws - ✔️✔️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 -
✔️✔️Pennsylvania Sewage Facilities Act in 1994
Burdensome disclosure requirements are readily satisfied -Mitigation controls can be
enforced regardless of ownership - ✔️✔️Benefits of the UEAC
True or False Pennsylvania, has abolished the common law concepts of dower and
curtesy. - ✔️✔️True
The Pennsylvania Landlord/Tenant Act also specifies the time period that is required for
notice in a variety of circumstances - ✔️✔️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. - ✔️✔️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. - ✔️✔️30
Limits on Security Deposits - ✔️✔️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.
Pennsylvania law permits a landlord to purchase a guarantee, or surety, bond to
guarantee the return of a security deposit to the tenant. The landlord may exercise this
option in lieu of escrowing a security deposit in a financial institution. The landlord must
return the amount of the bond (including any interest) less the cost of any necessary
repairs to the tenant at the end of the lease term. - ✔️✔️Bond in lieu of escrowing
Tenants in certain situations must be given an explanation of rights informing them of
the consequence of confession of judgment when they sign a lease that contains this
clause. - ✔️✔️Confession of Judgement
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