Real Estate Principles Practice Question
Question
A buyer and seller disagree about a closing issue in a Nevada real estate transaction involving water rights. Which statement is most accurate for exam purposes? (Item 123)
Answer choices
- A. The client’s preference eliminates the need to disclose known material facts.
- B. The party who complains first automatically receives the legal remedy requested.
- C. Recognize water-right considerations as important in Nevada property practice.
- D. Escrow automatically assumes all brokerage disclosure and agency duties.
Correct Answer
C. Recognize water-right considerations as important in Nevada property practice.
Explanation
The correct answer is C because water rights requires candidates to recognize water-right considerations as important in Nevada property practice. The other options rely on unsafe assumptions about custom, oral agreement, escrow, client preference, or independent salesperson authority and do not reflect sound Nevada exam practice.
Question details
- Difficulty: medium
- Domain: Real Estate Principles
- Objective: water rights