Is this property historic or just old?
Are you interested in purchasing a historic property? If so, there are a few things to keep in mind. Take this quiz to test your knowledge and see if the property you're looking at is truly historic!
The National Register of Historic Places (NRHP) is administered by which of the following government agencies?
- National Park Service
- Department of Housing and Urban Development
- Federal Housing Authority
Which of the following properties is most likely to qualify for the 20 percent federal historic renovation tax credit?
- a private residence
- a bed-and-breakfast
- a guest house
An agreement with a local historic preservation society to maintain the historic character of your property's facade is an example of what?
- a tax freeze
- a tax abatement
- an easement
The Federal Housing Administration (FHA) loans $35,000 at favorable terms to which of the following?
- owners of historic properties hoping to renovate
- prospective buyers of historic properties hoping to renovate
- sellers of historic properties hoping to renovate
What's one likely disadvantage of buying a home listed on the NRHP?
- It may have significant damage to its foundation.
- It may not be covered by the Fair Housing Act.
- It may be subject to easements that make renovations difficult to permit.
Cemeteries, birthplaces, religious sites and reconstructed historic buildings are:
- prime candidates for listing on the NRHP
- never listed on the NRHP
- good candidates for listing on the NRHP only if they have additional architectural, historical or cultural significance
One requirement of listing your house in the NRHP is that you:
- agree to preserve the historic character of your property
- agree to own the property for at least the next five years
- agree to install a bronze plaque noting the property's historical significance
In addition to being listed on the NRHP or included in a historic district, your property may also be considered historic if it's what?
- a local landmark
- more than 150 years old
- designed by an architect with more than 10 buildings currently listed on the NRHP
Generally, to qualify for listing in the NRHP, a property must be at least how many years old?
If your house is listed on the NRHP, you would be unable to do what?
- paint the exterior with fuchsia polka dots
- add a sunroom requiring additional foundation
- neither of the above would be prohibited