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Hawaii-Specific Real Estate Practice Exam Study Guide Solutions
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Hawaii-Specific Real Estate Practice Exam Study Guide Solutions Personal Property - ANSWER-Movable objects (chattels) that do not fit into the definition of real property; conveyed by bill of sale. Fixture - ANSWER-An item of personal property that has been converted to real property by being ...

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  • November 4, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • hawaii specific real estate practice exam study gu

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  • Real Estate
  • Real Estate

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KaylinHoffman

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Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




Hawaii-Specific Real Estate Practice

Exam Study Guide Solutions


Personal Property - ANSWER✔✔-Movable objects (chattels) that do not fit into the definition of real

property; conveyed by bill of sale.


Fixture - ANSWER✔✔-An item of personal property that has been converted to real property by being

permanently affixed to the land or building. Can be either attached or annexed.


Metes and Bounds - ANSWER✔✔-To locate a property boundary requires two permanent reference

markers;


The boundary is measured from a specific point of beginning and proceeds around the boundaries using

reference to linear measurements and directions;


Boundaries may be established on the basis of actual distance between monuments (fixed objects);


A boundary must return to the point of beginning so that the land described is fully enclosed.


Rectangular (Government) Survey - ANSWER✔✔-Based on measurements from base lines and principal

meridians;


Designed to set up checkerboard pattern of identical squares over specific area.


Mineral rights - ANSWER✔✔-May be owned by the owner of the surface rights or by separate third party

owners of subsurface rights, such as natural gas or oil companies, as well as by the developer or the

homebuilder.



Copyright ©Stuvia International BV 2010-2024 Page 1/12

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024


Air rights - ANSWER✔✔-The right to occupy, use, or control the space above a property, such as

homeowner purchasing these rights above a neighboring home to protect his view.


Water rights - ANSWER✔✔-Ownership of water and land adjacent to it is determined by state law, which

is based on either the doctrines of the riparian and littoral rights or on the doctrine of prior

appropriation; generally have the right to use water so long as they do not pollute or interrupt the flow.


Riparian rights - ANSWER✔✔-Rights granted to owners along a non-navigable river or stream.


Littoral rights - ANSWER✔✔-Rights granted to owners along an ocean or large lake.


All of the following are true in regard to trust funds EXCEPT - ANSWER✔✔-all funds must be deposited

within 48 hrs


When a condominium is sold, who is responsible for any unpaid condominium assessments? -

ANSWER✔✔-The grantor and grantee, jointly and severally.


According to the Uniform Land Sales Practices Act, when the purchaser of subdivided land receives the

public offering statement, he must also be given - ANSWER✔✔-a written notice of a seven-day rescission

right.


A tenant whose lease has terminated is entitled to his security deposit - ANSWER✔✔-within 14 days.


All of the following are violations for which a licensee may be sanctioned - ANSWER✔✔--being

dependent on illegal drugs


-paying a referral fee to an unlicensed person.


-acting for both parties in a negotiation with one party's written consent.




Copyright ©Stuvia International BV 2010-2024 Page 2/12

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