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Real Estate Practice Exam Questions | Lesson #2 - Land Use Controls & Government Regulations - YouTube
Channel: The Real Estate Classroom
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hey everyone my name is paul vacheski
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and welcome to the real estate classroom
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youtube channel before we get started as
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always give the video a thumbs up hit
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that red subscribe button click on the
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notification bell
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share this with somebody that's studying
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for the real estate exam if you know
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anybody
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all right let's get to today's video
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[Music]
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all right so today's real estate
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practice exam question
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comes from playlist number two or lesson
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number two in our study materials
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and it's going to cover land use and
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government regulations so let's get to
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the first question here it says if the
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state acquires property of an individual
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for the purpose of building a military
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base
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it obtains legal title remember title
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and real estate means ownership
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it obtains legal title by an action
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known as a adverse possession be a sheet
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c eminent domain or d
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police powers i'm going to put this
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video on pause so you can figure out the
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right answer
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and i'll come back shortly with the
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correct answer
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all right so the correct answer is c
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eminent
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domain now as always and i've said this
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in previous videos anytime
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you have a question on your exam you
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have to break down
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the question into parts number one
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identify
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any parties who they are and what role
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do they play
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within the context of the question so
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one thing i do want to point out here it
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says
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if the state acquires property now
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understand states don't build military
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bases so they're inferring in the
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question that this is the federal
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government which has the right of
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of eminent domain all right understand
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all government bodies have the right
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to exercise eminent domain whether it's
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the federal government
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state government or local county
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government
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school school districts those type of
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things
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so eminent domain is the correct answer
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eminent domain permits the government to
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take an individual per
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a person's private property i'm sorry
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real property
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um for public use but there are some
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there are some criteria there are some
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criteria that applies here that you have
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to know number one under eminent domain
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according to the constitution the united
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states the
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the government must give just
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compensation to that landowner
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meaning market value that they give fair
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market value to the person that owns the
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land number two
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is the landowner does have a right to
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to due process they have a right to say
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no i don't want to sell my land and they
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have a right for a
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judge to make the final determination
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and number three
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is title passes so once eminent domain
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is completed
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then transfer is a title is transferred
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from the
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landowner to the government agency in
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this case the federal government
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that is the doctrine of eminent domain i
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do want to look at a
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b and d the incorrect answers because
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they
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are as well very important real estate
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terms that
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probably will end up on your real estate
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exam so let's let's
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look at adverse possession
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adverse possession is when real property
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is taken
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from a true owner and title is
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transferred
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transferred by involuntary alienation
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ownership is lost when a squatter
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occupies the property for a statutory
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period of time
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in a hostile continuous distinct visible
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and actual way
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so what do we mean here well a squatter
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is someone who
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uh is occupying
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a property whether they're on the
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property or they're actually
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in the improvement on the property maybe
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the this is a common thing in england
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where
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where squatters go in and they they
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squat inside a house the house is left
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vacant
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the people went on vacation in france
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and they go in and they just
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they take the property over a squatter
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once they have met
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certain statutory provisions i.e
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they have occupied the property for a
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statutory period of time and that
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statutory period of time is determined
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by each individual state statute they've
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done it in a hostile way meaning
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they didn't get the permission of the
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owner they did it in a continuous way
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meaning they didn't occupy the property
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for six months then leave for six months
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and then come back for six months
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uh it was visible distinct and actual if
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somebody if the neighbor
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looked onto the property they would
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notice that this person they they would
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think that this person actually is
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legally there when they are not
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so that's the that's the elements of
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squatters rights
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if that squatter uh they
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fulfill all the elements within that
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particular state under adverse
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possession they can go in front of a
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judge
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and and plead their case and the judge
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can award him
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title to the property and if the judge
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does
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award him title that means title passes
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from the previous owner to the squatter
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and under adverse possession title
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passes
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no compensation is required to the uh
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previous owner
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all right let's look at a sheet a sheet
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i always tell my students that a sheet's
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root word is
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cheat because they are the government is
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cheating
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someone out of their property now there
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are two
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instances when a sheet is used now
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understand that a sheet is an old common
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law
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doctrine that many states have codified
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within their statutes
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and it simply allows a government agency
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and that agency that's tasked with doing
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that is different within each state and
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it's based on state law
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but it allows the government to wrap up
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one's
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estate and wrap up someone's affairs if
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they've died
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intestate when somebody dies in
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intestate they've died without a will
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and there's no errors to be found so
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somebody dies without a will they have
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no errors
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there has to be a legal mechanism to
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wrap up this person's
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affairs and what they do is they will
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take title to the property sell it and
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then what happens to the proceeds of the
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sale is determined by state statute you
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don't have to know that for the real
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estate exam but i wanted to do it for
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illustrative purposes
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there is another function for a sheet
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and that is for abandoned property so
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let's say that a piece of property
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has been abandoned by the owner who
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lives in a different state a different
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country
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and wants nothing to do with the the
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property the property has become a
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haven for crime there's prostitution
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drug dealing
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the local government has to have a
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mechanism to go in and take care of that
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and uh that is another way that uh
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a purpose of a sheet and again title
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passes and no compensation
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all right so just with a sheet title
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passes
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no compensation to that owner that who
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abandoned the property
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police powers is the last one now police
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powers permits the state
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and local governments to impose
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restrictions and control
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upon private property and i'm going to
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explain that
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this also extends to the federal
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government and i'll explain that in a
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minute
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but if they're going to impose these
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restrictions and controls it has to be
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in the
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public's benefit it has to benefit the
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public through
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like welfare health and safety those
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type of things and some common examples
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of what i'm talking about here
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is zoning laws building codes occupancy
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standards those type of
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regulations are imposed on private
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ownership and private owners
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title does not pass the owner still has
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to comply with the regulations and if
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there's a cost associated with that that
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cost is
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borne by the owner there is no
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compensation for the
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landowner so under police powers there's
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title does not pass and there's no
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compensation
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now the federal government also has
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police powers particularly within the
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environmental environmental arena um
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i think i've told you this story before
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in a previous video but i had a couple
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that was in my
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my pre-licensing class several years ago
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and they had moved from oregon they had
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purchased 40 acres of timber
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and they paid like a million dollars for
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it and the value was in the timber
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that they were going to harvest shortly
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after they closed
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on the property remember they had a
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million dollar plus mortgage
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uh the federal government came in
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because they found the
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spotted owl on the property and at that
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time the spotted owl was on the
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endangered species list
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so they weren't allowed to do anything
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with that property whatsoever
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that is an example of when where the
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federal government gets involved with
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police powers
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again excuse me police powers title does
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not pass
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no compensation is given to the
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landowner
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if you're going to continue studying
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real estate practice exam
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questions check out this playlist right
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here if you have not subscribed click on
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the little circle
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right there questions comments leave
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