.
November 1 and December 10
July 1 and November 1
February 1 and April 10
January 1 and March 10
Single family residence
Occupied single family residence
Owner occupied single family residence
Any of the above
New development
Compacted population density
Tax deferment
A recorded homestead
New drainage and sewer systems
To purchase vacant land
Build off-site local improvements
Improve street lighting
Assessment liens are always subordinate to property tax liens
Assessment liens can only be levied by local improvement districts
Foreclosure of assessment liens can only be achieved by court foreclosures
Special assessments are levied for the cost of specific local improvements, while property tax revenue goes into the general fund
Is the total income tax a person must pay
Is the minimum income tax rate a person must pay
Determines the tax rate applied to the next dollar earned
None of the above
$18,000
$130,000
$180,000
$200,000
Mortgage relief
Real property taxes
Interest income
Income taxes
He may not deduct the loss on the sale of his personal residence from his income tax
40% of the loss is tax deductible
He can deduct the $30,000 capital loss from any capital gain received during the tax year
$10,000 of the loss is tax deductible
Land may be depreciated by 125% declining balance method
An owner may deduct the accrued depreciation of land over time
Land may be depreciated by the sum of the year digits method
Land cannot be depreciated under federal income tax law
27.5 years
39 years
40 years
50 years
A personal residence with a loan on it equal to it or greater than the mortgage on his apartment complex
A less valuable apartment complex and assume a smaller loan than the mortgage on his current apartment complex
A more valuable apartment complex, assuming a larger loan and paying cash boot to balance the equities
A less valuable apartment complex, receiving money from the other party to compensate for any difference in equities
Access to transportation for the property
Zoning of the property
Physical condition of the improvements
The seller's depreciated book value of the improvements
Signed by the grantor
Delivered to escrow
Recorded
Delivered to the grantee
Title is free from all encumbrances
Grantor has not conveyed title to any other person
Property taxes are current
The property has been homesteaded
The buyer may recover double damages when a grant deed is used
Warranty deeds are illegal in California
Recourse against a title company works better than trying to collect from the grantor
The law favors the use of the grant deed because the express covenants run with the land, while covenants of the warranty deed are personal to one particular buyer
Community property
Joint tenancy
Tenancy in common
Ownership in severalty
The title company was liable because its obligation under the policy is not terminated by the death of the uncle
The title company was not liable because of the standard title insurance policy does not cover damage resulting from an incompetent grantor
The title company was liable if the nephew filed his lawsuit within one year of the uncle's death
Title company was not liable because the death of the policy holder terminated the obligation to defend the title
Using a watercourse as a boundary
Metes and bounds is a method used to legally describe land, not measure it
Using a boundary as a boundary
"metes" are boundaries and "bounds" are measurements
1 township
6 townships
18 townships
36 townships
An advisor to both the buyer and the seller
An advocate for the best interests of both principals
A separate agent for each party, whereas during escrow, the escrow officer was a dual agent for both parties
None of the above
A surrender action
An interpleader action
An equitable assignment
An estoppel disposition
A debit to the buyer
A debit to the seller
A credit to the seller and to the buyer
A credit to the buyer
$33
$66.83
$67.10
$100.10
Whenever the property is sold
Only when the building is remodeled
Every year
Every three years