medium · National Real Estate Exam
A city enacts an environmental protection ordinance that prohibits any clearing or building on a specific coastal parcel to protect a local marsh. The owner is left with no economically viable use of the land. Under national real estate principles, this is most likely classified as a:
- Nonconforming use
- Valid exercise of police power requiring no payment
- Easement by necessity
- Regulatory taking
Sign up free to see the explanation and track your rank →
More National Real Estate Exam practice
- A broker's employment contract with a seller is officially called the:
- What is the current status of the contract?
- A buyer defaults on a purchase agreement, and the seller chooses to keep the earnest money
- A buyer makes a written offer to a seller. Two days later, before the seller has responded
- A contract for the sale of a property is signed. Before closing, the property is destroyed
- A contract for the sale of real estate that has been signed by both parties is valid, but
- A contract that is valid and binding but allows one party to avoid the agreement because o
- A contract that is valid and enforceable until it is canceled by a party who was a victim