Chapter 2

Property rights created from marriage have a clear implication for real estate transactions. Which of the following marital property rights gives a spouse a one-half claim on all property acquired "from the fruits of the marriage"?

community property

Requirements to create a joint tenancy are quite restrictive. They require the presence of the "four unities," which include all of the following except -condition -title -interest -possession

condition

Which of the following types of direct co-ownership combines single person ownership with tenancy in common?

condominium

An important distinction both practically and conceptually is the difference between an easement and a license. All of the following characteristics pertain to a license except -a license is revocable by the grantor -a license can be granted orally -a license is enduring -a license grants permission to use another's land for a specific and limited purpose

a license is enduring

An easement is the right to use land for a specific and limited purpose. Which of the following easements involves a relationship between two parcels of land, is a permanent feature of both parcels involved, and gives the dominant parcel some intrusive use of the servient parcel?

affirmative easement appurtenant

The City of Grand Rapids installed a new water main on Oak Street. The city then decided to charge the property owners along Oak Street a proportional cost of the new water main. If a property owner refuses to pay his or her proportional share of the cost, the city may file a(n)

assessment lien

Which of the following forms of co-ownership, historically used for apartment buildings, is not considered a form of true direct co-ownership but rather qualifies as a proprietary corporation?

cooperative

Real estate can be viewed as a bundle of rights. How these bundles of rights are grouped together determines the type of ownership interest an individual (or group of individuals) can stake claim to. In an ordinary life estate with remainder interests, which of the following rights is detached from the traditional bundle of rights that typically defines a fee simple absolute interest?

disposition

Jeff owns 150 acres between a highway and a public beach. The state would like to build a road directly from the highway to the beach across a number of beachfront properties including Jeff's. The space for this road would be considered a(n)

easement in gross

Since an easement is a nonpossessory interest, it is important to understand the right of disposition that is associated with it. In which of the following types of easements is the right of disposition claimed as part of the easement?

easement in gross

A fixture is an object that formerly was personal property but has become real property. Of the following four rules for determining whether an object has become a fixture, which is the most dominant (i.e., if there is a conflict, which rule prevails)?

intention of the parties

Nonpossessory interests (i.e., bundles of real property rights that do not include possession) include all of the following except -easements -restrictive covenants -leasehold interests -liens

leasehold interests

Which of the following types of liens is automatically superior to any other lien?

property tax and assessment lien

Co-ownership can occur in a variety of ways, with significant variation in how the bundle of rights is jointly held. All of the following entities are forms of direct co-ownership except -tenancy in common -tenancy by the entirety -condominium -partnership

partnership

Tom recently purchased a home in a residential subdivision. While mowing his lawn and planting new shrubs for the first time since moving in, Tom's neighbor came outside to inform him that he was violating one of the subdivision's rules which required the use of a specific professional lawn service for all property landscaping needs. Assuming this requirement can be enforced by the subdivision authority, this would be an example of a(n)

restrictive covenant

Restrictive covenants impose constraints on the use of the land, yet are limited in terms of their enforcement. All of the following are true regarding the enforcement of restrictive covenants except -courts have been reluctant to maintain restrictive covenants for an unreasonably long time and in some cases states have enacted a time limit on their applicability -courts may refuse to enforce restrictive covenants due to changing neighborhood character -courts may refuse to enforce restrictive covenants due to abandonment of the property -restrictive covenants are public in nature and therefore can be enforced by those who do not hold a legal interest in the property

restrictive covenants are public in nature and therefore can be enforced by those who do not hold a legal interest in the property

The distinctive feature of a joint tenancy is the right of

survivorship

Direct co-ownership implies that each co-owner holds a titled interest in the property but without exclusive possession with respect to the other co-owners. Which of the following types of direct co-ownership is considered the closest to the fee simple absolute estate?

tenancy by the entirety

A principal definition of real estate is as a bundle of rights associated with the possession, use, and disposition of property. Each of the following is a fundamental characteristic of property rights except

they apply only to tangible assets

When multiple individuals have use of a property, but their interests are not simultaneous, this type of co-ownership is referred to as a

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