Students- scroll down for cases and/or questions to be reviewed prior to the following class.

VERMONT STUDENTS CLICK HERE FOR VT LINK TO TAX BOOKLET

Click on the RSA below to read full law These are the laws tested for NH test.

New Hampshire Principles and Practice 10 questions (25% of State Portion)

A. Human Rights- NH RSA 354-A

B. Environmental Issues

    1. Hazardous Waste- NH RSA 147-A,  NH RSA 147-B

    2. Hazardous Substances-Water Pollution and Waste Disposal – NH RSA 485-A

    3. Hazardous Substances-Safe Drinking   Water – NH RSA 482-B, NH RSA 485

    4. Hazardous Substances-Asbestos –   NH RSA 141-E

    5. Hazardous Substances-Underground  Storage Tanks – NH RSA 146-C

    6. Hazardous Substances-Radon Gas/Lead Paint – NH RSA 477

    7. Hazardous Substances-Lead Paint –  NH RSA 130-A

C. Condominium Act- NH RSA 356-B

D. Planning and Zoning- NH RSA 672; NH RSA 674

E. Wetlands- NH RSA 482-A; NH RSA 483-A

F. Taxation- NH RSA 72; NH RSA 73; NH RSA 75; NH RSA 76; NH RSA 78-A; NH RSA 78-B; NH RSA 79-A; and NH RSA 80

G. Manufactured Housing- NH RSA 205-A

H. Property Management (Tenants/Landlords)- NH RSA 540; NH RSA 540-A

I. Recordation- NH RSA 480 ;   NH RSA 477; NH RSA 478

J. Descent and Distribution- NH RSA 551; NH RSA 561; NH RSA 477

H.  Stigmatized Properties NH RSA:4-E

Click here to research any NH Statute

PLEASE REVIEW FOR NEXT CLASS

Make sure you scroll to end of page.

REVIEW QUESTIONS- CLASS #1  Answers:    1-a,2-c,3-a,4-d,5-a,6-b,7-c,8-b

REVIEW QUESTIONS- CLASS #2:

1.         You enter into a contract to sell a home to Jason Smith, age 15.  Jason signs the sales contract.  The contract is:

            a.         void

            b.         voidable

            c.         unenforceable

            d.         valid

2.         A seller and a buyer have just executed a sales contract.  The buyer now possesses

            a.         legal title

            b.         color of title

            c.         equitable title

            d.         no interest until the deed is delivered

3.         A listing agreement may be terminated for any of the following EXCEPT the

            a.         sale of the property

            b.         death of the salesperson

            c.         agreement of the parties

            d.         destruction of the premises

4.         By executing a listing agreement with a seller, a real estate broker becomes

            a.         a procuring cause

            b.         obligated to open a special trust account

            c.         an agent of the seller

            d.         responsible for sharing commissions

5.         The provision in a listing agreement that gives additional authority to the broker and obligates the broker to distribute the listing to other brokers is a(n)

            a.         joint listing clause

            b.         multiple listing clause

            c.         net listing clause

            d.         open listing clause

6.         Oliver Wendell, a broker, took a listing on a property and shortly thereafter discovered that his client had been declared incompetent by the court.  The listing is now

            a.         binding as the broker acted in good faith

            b.         still valid

            c.         the basis for a commission should the broker bring a ready, willing and able buyer

            d.         void

7.         Under an exclusive agency listing, the listing broker would not be entitled to a commission if

            a.         the broker sells the property himself

            b.         the property is sold through another broker

            c.         the property is sold through the MLS

            d.         the seller sells the property to his neighbor across the street who has her property listed with another broker

8.         An owner lists her property for sale with a broker.  Another broker, however, finds a buyer for the house.  The listing broker did not receive a commission from the sale.  The type of listing contract between the owner and the broker could have been a(n)

            a.         exclusive right to sell

            b.         exclusive agency

            c.         open listing

            d.         multiple listing

9.         When a broker sold a property, the sales contract contained the following statement, "Buyer to accept property in as is condition."  Both the seller and the broker knew the plumbing was in a major state of disrepair but did not tell the buyer.  Would an action for damages against the broker, based on fraud, be successful?

            a.         No. The "as is" provision in the contract is evidence of a meeting of the minds.

            b.         No. The contract specifically stated that the property was being sold "as is".

            c.         Yes. The duty to disclose a material fact cannot be avoided by an "as is" provision.

            d.         Yes. "As is" refers only to exterior defects.

10.       You order dinner in a restaurant.  You are required to pay for the dinner through what kind of contract?

            a.         bilateral

            b.         express

            c.         voidable

            d.         implied

11.       Both buyer and seller agree to wait until the broker's exclusive right to sell listing has expired.  They then have a third party buy the home.  After a short while, the third party conveys ownership to the interested buyer, who was introduced to the owner by the listing broker.  In this case,

            a.         the broker is not entitled to the commission because the listing expired

            b.         if the listing broker can prove collusion, he can collect the full commission

            c.         the broker may sue both the buyer and seller for commission

            d.         the broker is entitled to his commission because he performed the task for which he was hired

12.       A broker is listing her neighbor's home.  The commission should be determined by

            a.         the size of the broker's firm

            b.         rates approved by the Real Estate Commission

            c.         rates approved by the local Board of REALTORS

            d.         negotiation with her neighbor

13.       A broker's responsibility in an agency relationship include all of the following EXCEPT

            a.         accounting

            b.         loyalty

            c.         notice

            d.         hypothecation

14.       The responsibilities of a broker in an agency relationship include

            a.         managing the property

            b.         providing financing

            c.         accountability for funds received

            d.         accepting an offer for the seller