Real Estate Principles Practice Question
Question
A buyer and seller disagree about a closing issue in a New York real estate transaction involving leases. Which response best applies the rule? (Item 251)
Answer choices
- A. The licensee should avoid documenting the issue to reduce the chance of later questions.
- B. A licensee may give legal conclusions instead of recommending qualified legal advice when the issue is uncertain.
- C. Distinguish leasehold estates, rent obligations, assignments, subleases, and landlord-tenant duties.
- D. A verbal understanding always replaces any written requirement in a real estate transaction.
Correct Answer
C. Distinguish leasehold estates, rent obligations, assignments, subleases, and landlord-tenant duties.
Explanation
The correct answer is C because leases requires candidates to distinguish leasehold estates, rent obligations, assignments, subleases, and landlord-tenant duties. The other options rely on unsafe assumptions about custom, oral agreement, escrow, client preference, or independent salesperson authority and do not reflect sound New York exam practice.
Question details
- Difficulty: medium
- Domain: Real Estate Principles
- Objective: leases