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| Section | Weight | Objectives |
|---|---|---|
| Massachusetts Real Estate Law | 33% | - Massachusetts Real Estate Practices
|
| General Real Estate Knowledge | 67% | - Property Ownership
|
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NEW QUESTION # 141
The heir to a large estate will be of legal age within 30 days. The heir lists for sale with a broker one of the properties held by the estate. The broker knows of a buyer for the property and sells it within 24 hours of listing, with closing to be in 45 days. Both listing and sale contracts are
Answer: B
Explanation:
Comprehensive and Detailed Explanation (150-250 words):
Contracts entered into by a minor (a person not yet of legal age) are generally voidable at the option of the minor. In this case, the heir is still underage when signing both the listing and the sales contract. Although enforceable by the minor, they may be disaffirmed before reaching majority age or within a reasonable time thereafter.
Fulfilled (A) applies only once all terms have been performed.
Executed (B) means fully performed; here, the contracts are not.
Executory (D) means still in progress, which is true, but the critical legal issue is that the contracts are voidable due to minority.
Therefore, both contracts are voidable.
Reference: Massachusetts Real Estate Salesperson Candidate Handbook - Contracts; M.G.L. c.231 §85O (contracts with minors).
NEW QUESTION # 142
After a Massachusetts residential tenancy terminates, how long does the landlord generally have to return the security deposit or properly documented balance?
Answer: B
Explanation:
The correct answer is C, 30 days. Massachusetts requires the landlord to return the security deposit, or the lawful remaining balance after permitted and properly documented deductions, within thirty days after termination of the tenancy.
Permitted deductions can include unpaid rent that was not lawfully withheld, qualifying unpaid real estate tax increases where a valid tax-escalator clause applies, and reasonable repair costs for tenant-caused damage beyond ordinary wear and tear.
The statutory documentation requirements matter. A landlord cannot simply deduct a round number for
"repairs" without following the required procedure.
Failure to return the deposit properly or comply with the statutory deposit requirements can expose the landlord to significant remedies, potentially including multiple damages and attorney ' s fees.
The 30-day period is therefore a critical Massachusetts exam figure and should be distinguished from notice periods applicable to terminating a tenancy at will.
Study Guide Reference: Property Management - Security Deposits, Deductions and Return Requirements.
NEW QUESTION # 143
Before an offer has been accepted, can the offeree revoke that offer?
Answer: A
Explanation:
D is correct because the terminology matters. The offeror is the person who makes the offer. The offeree is the person who receives it.
The offeree therefore does not "revoke" the offer; the offeree can accept, reject, or potentially make a counteroffer. Revocation is ordinarily an act of the offeror, who may generally withdraw a revocable offer before effective acceptance, subject to exceptions such as an enforceable option or other circumstances making the offer irrevocable.
If the offeree simply declines the offer, the legally accurate term is rejection, not revocation.
Massachusetts Board contract curriculum identifies offer and acceptance as essential formation elements and stresses the distinction between the parties and their contractual actions.
Candidates should therefore map the terminology carefully:
Offeror # makes the offer and may revoke it where permitted.
Offeree # receives the offer and may accept or reject it.
Study Guide Reference: Contracts - offer, acceptance, rejection, revocation and contract formation.
NEW QUESTION # 144
An advertisement emphasizes information meant to appeal to a particular ethnic or national group in an effort to maintain the character of the neighborhood. From the viewpoint of the federal Fair Housing Act, this could constitute a violation known as
Answer: D
Explanation:
Comprehensive and Detailed Explanation (150-250 words):
The Fair Housing Act prohibits discriminatory advertising that suggests preference, limitation, or discrimination based on race, color, national origin, religion, sex, familial status, or disability. Advertising designed to appeal to a particular ethnic or national group in order to "maintain neighborhood character" is an example of steering - influencing or directing prospective buyers or sellers based on protected class considerations.
Blockbusting (C) involves inducing owners to sell due to fear of demographic changes.
Redlining (B) refers to lenders refusing loans in certain neighborhoods.
Panic selling (D) is essentially synonymous with blockbusting, not advertising.
Thus, targeted ethnic advertising with the intent to control neighborhood composition is considered steering.
Reference: Fair Housing Act, 42 U.S.C. 3604(c); Massachusetts Real Estate Salesperson Candidate Handbook - Fair Housing.
NEW QUESTION # 145
Edwin conveys real estate to Barry, but Barry fails to pay the entire agreed purchase price. In appropriate circumstances, what equitable security interest may Edwin claim for the unpaid balance?
Answer: D
Explanation:
The correct answer is B, Vendor ' s lien. A vendor ' s lien is an equitable lien that can arise in favor of a seller who has conveyed legal title but remains unpaid for part of the purchase price.
The doctrine reflects the equitable principle that a purchaser should not retain both the property and an unpaid portion of the agreed consideration without the seller having a potential remedy against the land.
A vendor ' s lien differs from a purchase-money mortgage, which is an express recorded security instrument used when the seller or another lender finances the acquisition. Because an express mortgage provides clearer security and public notice, sophisticated sellers generally rely on properly documented mortgage instruments rather than depending on an implied equitable lien.
A mechanic ' s lien secures qualifying unpaid labor or materials supplied to improve real property. A tax lien secures unpaid governmental taxes.
The availability and priority of equitable liens depend heavily on applicable law and competing third-party interests. Licensees should therefore recognize the concept but leave actual lien analysis to qualified legal counsel.
Study Guide Reference: Transfer of Title/Financing - Liens, Vendor ' s Liens and Purchase-Money Security.
NEW QUESTION # 146
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