Midterm Review

This type of easement involved only parcel of land A. Appurtenant easement B. Easement in gross C. Subjugated easement D. Traverse easement

A. Appurtenant easement

This type of easement involves two parcels of land: A. Appurtenant easement B. Easement in gross C. Subjugated easement D. Traverse easement

A. Appurtenant easement

The right of an adjoining landowner to use a portion of another parcel for his or her own benefit. A. Appurtenant estate B. Easement in gross C. Fixture easement D. Future easement

A. Appurtenant estate

Why does the law make distinctions between real property and personal property? A. Because the classification affects the rights and legal remedies available B. Because the classification means that some owners do not have legal rights C. The law does not make a distinction between real and personal property D. All of the above

A. Because the classification affects the rights and legal remedies available

A person named in a will that the testator intends to receive an interest in property. A. Beneficiary B. Trustee C. Grantor D. Tenant

A. Beneficiary

A contract party's ability to know and understand the consequences of entering into a legal contract. A. Capacity B. Consideration C. Mutual assent D. Assertion

A. Capacity

The name for the compensation paid to a broker who has arranged the sale of real estate. A. Commission B. Valuation C. Salary D. None of the above

A. Commission

The requirement that both parties surrender something of value in exchange for receiving something of value in the contract. A. Consideration B. Legality C. Acceptance D. Mutual assent

A. Consideration

In a metes and bounds description what are "metes?" A. Distance B. Direction C. Compass heading D. None of the above

A. Distance

This term originated under English law and referred to a grant from the King to an individual landowner. A. Fee B. Check C. Reversion D. Vacancy

A. Fee

A person with this estate has the most complete set of rights that it is possible to have in a parcel of real estate. A. Fee simple B. Fee simple determinable C. Fee simple with a condition subsequent D. None of the above

A. Fee simple

Under this court-created test, an item will be considered a fixture because of the actions and mental state of the party who installed it. A. Intent test B. Use test C. Psychological test D. None of the above

A. Intent test

What is the practical outcome when items are classified as real property? A. It is not necessary to describe them in the deed B. It is necessary to list them separately in a bill of lading C. A receipt is necessary to transfer ownership D. The statute of limitations will not apply to the transaction

A. It is not necessary to describe them in the deed

One party's indication of his or her willingness to enter into a contract. A. Offer B. Acceptance C. Mutual assent D. Consideration

A. Offer

This type of property description is so vague that the property cannot be identified. A. Patently ambiguous property description B. Latently ambiguous property description C. Universally accepted property description D. Party specific property description

A. Patently ambiguous property description

Ted has an easement across Mary's property. Which of the following terms best describes Ted's property? A. Ted's property is the dominant estate B. Ted's property is the servient estate C. Ted's property is the beneficiary estate D. Ted's property has no particular legal designation

A. Ted's property is the dominant estate

A person who dies with a will. A. Testate B. Probate C. Inviolate D. Intestate

A. Testate

A property description can refer to other documents, with certain conditions. What is one of those conditions? A. That the other document makes the property description complete B. That the other document has not been recorded in the public records C. That the other document is typed D. That the other document is a contract

A. That the other document makes the property description complete

Ownership interests in real property are required to be transferred in writing because of: A. The Statute of Frauds B. Statutes of Limitation C. The Doctrine of Laches D. All of the above

A. The Statute of Frauds

In many states, this office is responsible for maintaining records for all civil and criminal actions in the county. A. The clerk's office B. The tax office C. The probate office D. All of the above

A. The clerk's office

Most metes and bounds descriptions begin at a specific point. What is the point called? A. The point of beginning B. The point of ascendancy C. The point of course D. The point of metes and bounds

A. The point of beginning

Forms that summarize important information about title to a particular piece of real estate. A. Title abstracts B. Title deeds C. Title recordings D. All of the above

A. Title abstracts

Maria has recently had her house appraised. The appraisal lists the house as worth $300,000. She owes $120,000 on the home. How much is her equity? A. $100,000 B. $180,000 C. $120,000 D. $300,000

B. $180,000

How long is a "chain?" A. 33 feet B. 66 feet C. 88 feet D. 100 feet

B. 66 feet

This estate is created when a person transfers property to another with a stipulation that the property should be used in a certain way. A. A fee simple determinable estate B. A fee simple on a condition subsequent C. A fee simple estate D. None of the above

B. A fee simple on a condition subsequent

In states that require attorneys to certify the marketability of title, the end result of a title search is: A. A civil action B. A final title certificate C. An action for damages D. A certification in the public records

B. A final title certificate

Why is it necessary for witnesses to observe the testator sign a will? A. Because the witnesses are mentioned in the will B. Because they can testify about the testator's state of mind at the precise moment that the testator signed the will C. There is no such requirement D. E. Because it gives the testator the opportunity to cancel any previous contractual agreements

B. Because they can testify about the testator's state of mind at the precise moment that the testator signed the will

The name of the group of professionals who represent sellers, list a house for sale and attempt to locate buyers. A. Mediators B. Brokers C. Arbitrators D. Judges

B. Brokers

In a metes and bounds description, what are "bounds?" A. Distance B. Direction C. Compass heading D. None of the above

B. Direction

The right of another to enter onto a specific parcel. A. Appurtenant estate B. Easement in gross C. Fixture easement D. Future easement

B. Easement in gross

A person's value in real estate, once he or she has subtracted the amount owed on the property. A. Jurisdiction B. Equity C. Assessment Containment

B. Equity

A right to use or enjoy real property A. Fee B. Estate C. Ordinance D. Authority

B. Estate

In the states that have abolished dower and curtesy, it has been replaced with: A. Dower claim B. Forced share C. Right of survivorship D. Reclamation

B. Forced share

This type of will is one that the testator writes out in his or her own handwriting and signs. A. Visionary will B. Holographic will C. Testamentary will D. Intestate statement

B. Holographic will

Which of the following characteristics is not unique to real property? A. The term "real property" always refers to land and anything permanently attached to land B. It is often taxed* C. Ownership is proven by a deed D. Statute of frauds applies to all sales

B. It is often taxed

These property descriptions are insufficient when viewed by themselves, but become valid when they refer to some other document through which a more precise identification can be made. A. Patently ambiguous property descriptions B. Latently ambiguous property descriptions C. Significantly ambiguous property descriptions D. Collateral source property descriptions

B. Latently ambiguous property descriptions

This estate is created when an owner leaves his or her property to another person, but only as long as the person lives. A. Fee simple B. Life estate C. Life estate pur autre vie None of the above

B. Life estate

In the previous question, how would you characterize Mary's estate? A. Mary's property is the dominant estate B. Mary's property is the servient estate C. Mary's property is the beneficiary estate D. Mary's property has no particular legal designation

B. Mary's property is the servient estate

The contract law element that requires that both parties to the contract know and understand the material features of the contract. A. Mutual convenience B. Mutual assent C. Mutual adverse D. Mutual commitment

B. Mutual assent

An oral declaration by a testator, usually made shortly before death, before witnesses, about the disposition of his or her property. A. Codicil B. Nuncupative will C. Oral testimony D. Ad hoc

B. Nuncupative will

Oral testimony offered to prove an element in a written document. A. General warranty rule B. Parol evidence rule C. Signed and Agreed rule D. Hearsay rule

B. Parol evidence rule

The old common-law rule that "possession is 9/10 of the law" applies to what areas of law? A. Real property only B. Personal property only C. Both real and personal property D. Neither real nor personal property

B. Personal property only

The phrase used to describe the authority of a person who has received a valid offer. A. Right of refusal B. Power of acceptance C. Option to decide D. Party on the first part

B. Power of acceptance

Under this standard, courts will evaluate a particular statement on an objective basis. A. Consideration rule B. Reasonable person standard C. Subjective intent test D. Partially completed test

B. Reasonable person standard

Modern real estate law still reflects its roots in what era? A. The Stone Age B. The Middle Ages C. The Colonial period D. The 20th century

B. The Middle Ages

Which of the following is a correct statement about trade fixtures? A. Trade fixtures are essentially the same as any other type of fixture B. Trade fixtures can be removed, even when they cause extensive damage to property C. Trade fixtures cannot be used on commercial property D. Trade fixtures are not legally valid

B. Trade fixtures can be removed, even when they cause extensive damage to property

At what point in time is a property description evaluated for legal validity? A. When it is written B. When it is recorded C. When the property is assessed for taxes D. When the property is sold to the government

B. When it is recorded

This estate is created when a person transfers property to another with a stipulation that the property should be used in a certain way. A. A fee simple on a condition subsequent B. A fee simple estate C. A fee simple determinable estate D. None of the above

C. A fee simple determinable estate

What is one of the most common problems faced in a title search? A. Inability to identify the current owner of the parcel. B. Inability to determine that amount of taxes owed on a parcel. C. An apparent hole or break in the chain of title. D. All of the above.

C. An apparent hole or break in the chain of title.

The process of attaching a fixture to real property. A. Attestation B. Acknowledgement C. Annexation D. Acquisition

C. Annexation

Why is it necessary for wills to be in writing? A. Because the Statute of Limitations requires it B. Because the federal tax code requires it C. Because the Statute of Frauds requires it D. There is no requirement that wills must be in writing

C. Because the Statute of Frauds requires it

What is the final step in a title examination? A. Identifying the current owner B. Calculating the applicable tax rate C. Compiling all the information into a single document D. All of the above

C. Compiling all the information into a single document

A legally recognized agreement gives both parties the right to enforce the obligation to legal means. A. Document B. Public record C. Contract D. None of the above

C. Contract

Real property interests are transferred by what document? A. Bill of lading B. Receipt C. Deed D. None of the above

C. Deed

The transfer property in a will A. Transfer B. Beget C. Devise D. None of the above

C. Devise

Another term for beneficiary A. Trust B. Estate C. Devisee D. Offeree

C. Devisee

Under this ancient principle, a surviving spouse had a legal right to a priority claim on a fraction of the marital property A. Fee claim B. Right of survivorship C. Dower and curtesy D. Reclamation

C. Dower and curtesy

The name for the type of jurisdiction that arises because of the location of real property. A. Special jurisdiction B. Limited jurisdiction C. In rem jurisdiction D. Original jurisdiction

C. In rem jurisdiction

Which of the following is not an element of a legally valid property description? A. It must sufficiently describe the property in the deed B. It must make reference to other documents that sufficiently describe the property C. It must refer to the owners' mental capacity D. All of the above are elements of a legally valid deed

C. It must refer to the owners' mental capacity

The requirement that contract must have a legal subject or action. A. Subjectivity B. Objectivity C. Legality D. Consideration

C. Legality

A life estate measured by the life of a person other than the life tenant. A. Life estate for years B. Estate from year to year C. Life estate pur autre vie D. Life estate pro hac vice

C. Life estate pur autre vie

The type of property description in widespread use in the American Colonies. A. Tract indexing B. Torrens registration C. Metes and bounds D. Stick and chain

C. Metes and bounds

All of the following are examples of real property except: A. Trees B. Houses C. Mobile homes D. Fences

C. Mobile homes

What remedy does a party have when the other party to a contract breaches? A. The party has no remedy B. The party must appeal to the state Supreme Court C. Party may bring a civil action D. None of the above

C. Party may bring a civil action

What office will usually have records of wills and issues related to persons who died without a will? A. Wills Office B. Testamentary Office C. Probate Office D. Records and Damages Office

C. Probate Office

All contracts have the same basic elements. Which of the following is not an element of a contract? A. An offer B. An acceptance C. Regulatory intent D. Capacity

C. Regulatory intent

Someone who has future interest in real estate, but no present interest. A. Fee owner B. Life tenant C. Remainderman D. None of the above

C. Remainderman

Most metes and bounds descriptions are given to three points: Minutes, degrees and: A. Portions B. Variations C. Seconds D. Hours

C. Seconds

Originally created in England in the 1600s, this statute requires certain types of contracts to be in writing. A. Statute of Limitations B. Statute of Repose C. Statute of Frauds D. Miller Statute

C. Statute of Frauds

The process of updating a previous title search. A. Researching B. Renovating C. Tacking D. Enlisting

C. Tacking

What is one of the biggest ethical dilemmas that often face title examiners? A. Payment for work that was not performed. B. Confidentiality. C. Taking short cuts on title work. D. All of the above.

C. Taking short cuts on title work.

This co-tenancy is created when real property is conveyed to two or more persons and there is no clear indication about the type of co-tenancy involved. A. Tenancy by entirety B. Tenancy in partnership C. Tenancy in common D. Joint tenancy

C. Tenancy in common

Under this court-created test, personal property is considered to be a fixture when the item is essential for the use of the real property. A. Reasonableness test B. Mistreatment test C. Use test D. Intent test

C. Use test

In many states, title examinations are prepared by: A. Paralegals B. Attorneys C. Independent title examiners D. All of the above

D. All of the above

Once a valid offer has been made, what options does the receiving party have? A. Accept the offer B. Rejected the offer C. Make a counteroffer D. All of the above*

D. All of the above

Which of the following records can be extremely helpful in conducting a title search? A. Marriage records B. Birth records C. Death records D. All of the above

D. All of the above

Which of the following is an example of an easement? A. Driveway B. Utility access C. Path D. All of the above are examples of easements

D. All of the above are examples of easements

Which of the following describes a typical problem with metes and bounds descriptions? A. The descriptions can be long and complicated B. The descriptions can be confusing C. The descriptions can be difficult to transcribe D. All of the above are problems with metes and bounds descriptions

D. All of the above are problems with metes and bounds descriptions

Which of the following is NOT a requirement of a legally valid will? A. In writing B. Witnessed C. Signed by the testator D. All of the above are requirements of a legally valid will

D. All of the above are requirements of a legally valid will

All of the following elements help determine whether an item is a fixture, except: A. Intent of the party who installed it B. Manner of attachment C. Use D. All of the above will make an item qualify as a fixture

D. All of the above will make an item qualify as a fixture

Which of the following is not a unique physical characteristic of real property? A. Land is fixed and immovable B. No two pieces are identical C. The laws governing particular tracts depend on where the tract is located D. Buyers must often obtain financing to purchase it

D. Buyers must often obtain financing to purchase it

The requirement that all parties to a contract must be able to know and understand the consequences of undertaking a legally binding agreement. A. Consideration B. Understanding C. Knowledge D. Capacity

D. Capacity

The legal requirement that both parties to the transaction have a stake in the outcome. A. Capacity B. Mutual Commitment C. Intelligence D. Consideration

D. Consideration

Which of the following categories of contracts is not required to be in writing under the Statute of Frauds? A. Wills B. Contracts answer for the debt of another C. Contracts for the sale of land D. Contract the sale of goods less than $500 in value

D. Contract the sale of goods less than $500 in value

The right to use part of another parcel of land, even though he or she has no ownership interests in it. A. Lien B. Satisfaction C. Trade fixture D. Easement

D. Easement

An item that was formerly classified as personal property, but has become real property by virtue of becoming attached to it. A. Requisite B. Improvement C. Seizin D. Fixture

D. Fixture

A person who dies without a will. A. Testate B. Probate C. Inviolate D. Intestate

D. Intestate

A type of concurrent ownership where two or more individuals own property together, with equal ownership rights and the right of survivorship. A. Tenancy by entirety B. Tenancy in partnership C. Tenancy in common D. Joint tenancy

D. Joint tenancy

Which of the following is not an element of the economic characteristics of land? A. Land is an excellent investment B. Land is an important source of income for many investors C. Land generally depreciates in value over time D. Land cannot be taxed

D. Land cannot be taxed

The rule that states that an acceptance is legally effective when it is deposited in the United States postal system. A. Postal service rule B. Communication by mail rule C. Written and received rule D. Mailbox rule

D. Mailbox rule

Otherwise known as "a meeting of the minds." A. Consideration B. Legality C. Acceptance D. Mutual assent

D. Mutual assent

All of the following are examples of people who lack capacity to contract except: A. Infants B. Intoxicated Persons C. Mentally Incompetent Persons D. Persons with demonstrated poor judgment

D. Persons with demonstrated poor judgment

The announcement by a testator to witnesses that he or she has created a will and wishes to have it witnessed. A. Amendment B. Codicil C. Renunciation D. Publication

D. Publication

The right of a cotenant to take fee simple title to property on the death of the other cotenant. A. Fee simple B. Right of statute C. Closure D. Right of survivorship

D. Right of survivorship

A joint tenancy available to married couples. A. Tenancy by marriage B. Tenancy by domestic arrangement C. Tenancy by partnership D. Tenancy by entirety

D. Tenancy by entirety

The society that first institutionalized the use of property descriptions to track property boundaries. A. The Ancient Romans B. The Etruscans C. The Cappadocians D. The Ancient Egyptians

D. The Ancient Egyptians

Which of the following is not an element of a case litigating the validity of a property description? A. The description details the boundaries of the parcel B. The description conforms to the physical features of the parcel C. The description is accurate and D. The description was agreed upon by the parties in advance

D. The description was agreed upon by the parties in advance

A fixture that is equipment that is necessary to run a commercial enterprise. A. Commercial fixture B. True fixture C. Reposed fixture D. Trade fixture

D. Trade fixture

An action by a life tenant that adversely affects the nature or quality of the remainderman's future interest in real property. A. Surge B. Fee charge C. Nuisance D. Waste

D. Waste

In order to be valid, and offer must provide answers to all of the following questions, except: A. Who can accept? B. What is being offered? C. What will be exchanged? D. Why the party wishes to engage in the contract?

D. Why the party wishes to engage in the contract?