California requires a Natural Hazard Disclosure Statement (NHD) for which type of transfer?
Why Residential real property transfers of one-to-four units Is Correct
Answer B: Residential real property transfers of one-to-four units
Exam Tip: Environmental
Environmental questions test knowledge of hazards like asbestos, lead-based paint, radon, and mold. Know the disclosure requirements and when a professional inspection is required. CERCLA liability is strict, joint, and several.
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Key Terms to Know
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
State-Specific Concepts
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