Pearson Vue real estate exam Maine Questions And Correct Answers
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Pearson Vue real estate exam Maine Questions And Correct Answers
Most land uses are subject to regulation of Maine's Mandatory Shoreland Zoning Act when they are within how many feet of a river, wetland, lake, or ocean?
250 feet
Most land uses are subject to regulation of Maine's Mandatory Sho...
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Pearson Vue real estate exam Maine Questions
And Correct Answers
Most land uses are subject to regulation of Maine's Mandatory Shoreland Zoning
Act when they are within how many feet of a river, wetland, lake, or ocean?
250 feet
Most land uses are subject to regulation of Maine's Mandatory Shoreland Zoning
Act when they are within how many feet of certain streams?
75 feet
The Shoreland Zoning Act is regulated by whom?
Each municipality and enforced by the local Code Enforcement Officer
In order for a single family residential property to have a subsurface waste
disposal system, what is the minimum square footage for the property size?
20,000 sq. feet
If a single family residential property abuts a river, stream, lake, pond or tidal
area, it must have at least how much water frontage?
100 feet minimum
Who is responsible for inspecting and certifying shoreland properties in
organized and established towns in Maine?
The Local Plumbing Inspector
Which type of agency is the most commonly practiced in Maine?
Appointed agency
When a licensee is an affiliated agent of a brokerage agency that practices
appointed agency, must he or she notify a client of dual agency?
No, because that agency practices appointed agency and they are appointed agents to
the client.
When a brokerage agency does not practice appointed agency, must the licensee
notify a client of dual agency?
Yes, because there is no appointed agency, and licensees represent all clients, notice
of dual agency must be given and signed for both seller and buyer clients.
What form must be provided to the consumer at the first substantive
communication, face-to-face, in writing, via e-mail or by any other electronic
communication, regarding a real estate transaction involving a residential one to
four unit dwelling?
Real Estate Brokerage Relationships Form, also known as Form #3
Must the consumer sign Form #3, The Real Estate Brokerage Relationship Form?
No, the Maine Real Estate Commission does not require the consumer's signature on
this form.
The following must be included in what type of Brokerage Contract? The
signature of the client to be charged
• The terms and conditions of the brokerage services to be provided • The method
or amount of compensation to be paid
• The date upon which the agreement will expire
• A statement that the agreement creates an agency-client relationship
A Brokerage Contract with a seller
, In Maine, the Carryover Clause caps extending a real estate brokerage agency's
right to a fee following expiration of the brokerage agreement at how many
months?
6 months
Real Estate is defined as:
Land and all appurtenances attached to the land.
An appurtenance is defined as:
Buildings, trees, and rights (such as air rights to the portion of the neighbor's tree that
overhangs your yard, or an easement ("right of way") over a path to the lakefront).
Appurtenances run with the land, and therefore transfer with the transfer of title and sale
of the property.
A freehold estate is when,
someone has an ownership interest in a property.
Present freehold estate means
ownership interest is now
Future Freehold Estate means,
ownership interest won't take place until sometime in the future
fee/fee simple/fee absolute
The complete ownership of property, without condition. The largest and highest interest
one can possess in real estate.
fee simple determinable
A fee simple estate qualified by a special limitation. Language used to describe
limitation includes the words SO LONG AS, WHILE, or DURING.
Fee Simple on Condition Subsequent
A fee simple estate that may be ended by the grantor or the grantor's heirs or a
remainderman if named, upon the occurrence or nonoccurrence of a stated condition
Includes the language, .NEVER TO BE USED AS
Life Estate
An interest in real or personal property that is limited in duration to the lifetime of its
owner or some other designated person or persons/TENANT
Community Property States
States that classify all property acquired by either the husband or the wife during the
marriage, with the exception of gifts or inheritance, as marital property to be equally
distributed between the spouses at the time of the divorce. MAINE IS NOT
Severalty
Ownership of real property by one person only, also called sole ownership.
Tenants in Common share
the unity of possession
Tenants by the entirety
Co-ownership form that can only be used by married couples.
Created by express wording.
Surviving spouse has right of survivorship.
Neither spouse may sell, gift, devise, or otherwise transfer property without permission
of other spouse.
Tenants in Common
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