Which of the following could an escrow agent give to a real estate agent who brought a commercial property closing to her agency?
A)Two seats to a Lakers game
B)A subscription to Architectural Digest
C)A thank-you note
D)A 25 Barnes and Noble gift card
E)All of the above would be permissible under RESPA
Question 2
The tax assessor for Los Angeles county wishes to tax The Shane Company, a jeweler that owns the air rights for its five story building above a theater on Wilshire Boulevard. The Shane Company insists that it owns no real property.
A) The assessor is correct; the air rights are a real property interest.
B) The Shane Company is correct; air is not a real property interest.
C) The air rights must be taxed as personal property.
D) The theater owns the air rights and should be taxed.
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