California Real Estate Practice Exam

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Study for the California Real Estate Exam. Engage with multiple choice questions and detailed explanations to sharpen your knowledge. Get ready to ace your real estate career!

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What is the time frame within which a legal action must be filed as a result of information in a property transfer disclosure statement?

One year
Two years
Three years
Five years

The correct answer is: Three years

The time frame within which a legal action must be filed as a result of information in a property transfer disclosure statement is three years. This means that if a buyer discovers an issue with the property within three years of the transfer, they may be able to take legal action against the seller. Options A, B, and D are incorrect because they are not within the specific time frame of three years. Option A is too short, option B is too short, and option D is too long. It is important for the buyer to investigate and address any potential issues within three years to ensure they are able to take legal action if necessary. However, it is always recommended to consult with a legal professional for specific advice and guidance regarding any legal actions.