Property Ownership and Land Use Practice Question

Question

An escrow officer requests clarification from the broker involving escheat. The parties need a practical answer before moving forward. Which answer best applies the rule? (Item 55)

Answer choices

1. A. It applies only to commercial property and never to residential transactions.
2. B. It is controlled only by local custom rather than by law, contract, or professional duty.
3. C. Identify state acquisition when an owner dies without heirs or a valid will.
4. D. It is valid only when the buyer pays cash and no lender is involved.

Correct Answer

C. Identify state acquisition when an owner dies without heirs or a valid will.

Explanation

The correct answer is C because escheat requires candidates to identify state acquisition when an owner dies without heirs or a valid will. The other options overstate the effect of custom, oral agreement, escrow, or independent salesperson action and do not reflect safe California exam practice.

Question details

• Difficulty: medium
• Domain: Property Ownership and Land Use
• Objective: escheat

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