Connecticut Law Quiz Explanations
Wrong!
1. A 30-hour course in
Appraisals is required.
WRONG!!!
2. $125,000. The $75,000
Homestead Exemption applies only to general, non-consensual liens, such as
attachments from the lawsuits of general creditor. If you agree to have the
lien placed against your property, as in giving the bank a mortgage, there is
no exemption against the collection of that debt.
WRONG!!!
3. None of the above. The
widow’s election entitles here to elect EITHER to receive whatever she receives
in the will (which here is nothing) OR a life use of one-third of the assets of
Bob’s estate.
WRONG!
4. A mortgage release is normally recorded in Connecticut. Connecticut does not have land contracts. Listing contracts are not recorded.
WRONG!!!
5. Each own a
share with rights of survivorship in the other shares. This is true for all joint tenancies. A is untrue in
Connecticut, but it is the general national rule. B is untrue. D is untrue.
WRONG!
6. $1,387.50. The municipality’s conveyance tax is always
0.0011 times the price (or $1.1 per $1,000 of sales price.) The state’s tax for
residential property is 0.005 times sale price (or $5 per thousand dollars of sales
price) up to $800,000 and $0.01 times sales price (or $10 per thousand dollars
of sales price) for values above $800,000.
However, for commercial properties, the state’s rate is always 0.01
times the sales price. So, Rate =
0.0011 + 0.01 = 0.0111. Conveyance tax = 0.0111 X $125,000 = $1,387.50
WRONG!!!
7. $75,000. This is due to the Homestead Exemption.
WRONG!!
8. None of the above. It is
funded by $20 from initial applicants, $3 from license renewals, and licensee
fines & penalties (not home inspectors.)
Wrong!!!
9. A maximum of $25,000 per
single transaction
Back to
Question 9 Question 10
WRONG!
10. You can’t discriminate in
Connecticut on the basis of lawful SOURCE of income. You can discriminate on the basis of insufficient AMOUNT of
income. Perhaps Chucky is an extremely
wealthy beneficiary of a trust until he is age 50. He doesn’t want anyone to know about it. He doesn’t have to tell anyone, either. Edna
could have refused if Chucky has insufficient funds, but that was all.
Back to
Question 10 Question 11
WRONG!!!
11. Must be foreclosed upon
within one year of the date work ceased
Back to
Question 11 Question 12
WRONG!!!
12. $28. $13 total for the first page, and $5 per page thereafter.
Back to
Question 12 Question 13
WRONG!
13. John IS a dual agent, so B is NOT true and therefore the correct answer. Despite the appointments, the broker is still responsible as a dual agent.
Back to
Question 13 Question 14
Wrong!
14. None of the above. The Commissioner of Public health has limited authority to take the action described in response B. The DEP has no authority here.
Back to
Question 14 Question 15
Wrong!!!
15. Connecticut law allows a
landlord to refuse to rent to an unmarried, unrelated man and woman who live
together. Believe it or not, this is
the law in Connecticut.
Back to
Question 15 Start Over
Search by State
pages at RealtyComplete.com