Virginia - Principles and Practices of Real Estate

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Which statement about encumbrances is correct? Select one: A. An encumbrance must increase real property value B. A lease is an example of an encumbrance C. Encumbrances can only be created by an owner of real property D. Both A and C

A lease that contains no mention of an occupancy period is most likely to be: Select one: A. Invalid B. A month-to-month lease C. Covered by the statute of frauds D. A tenancy at sufferance

Jon purchased a 640 acre tract of land. Which method of legal property description would work best for Jon? Select one: A. Monument B. Metes and bounds C. Recorded plat D. Geodetic

A cooperative owner has exclusive use of her unit by reason of: Select one: A. General partnership B. Property lease C. Fee simple title D. License Feedback Your answer is incorrect. (types of ownership) Cooperatives are a form of ownership composed of single units in a multi-unit development. The title to land and improvements is held by a business entity (corporation). A purchaser receives stock in the business entity and takes a proprietary lease, which provides for exclusive use of a specified unit.

An adequate metes and bounds description must have all of the following inclusions, EXCEPT: Select one: A. A definite point of beginning B. Four sides C. Closure D. Linear measurements and compass directions

What is NOT a physical characteristic of land? Select one: A. Heterogeneity B. Indestructibility C. Immobility D. Fixity

The owner of a fee simple absolute estate leaves a will, which only specifies that he will leave a life estate to one party and a remainder estate to another. Upon the death of the life tenant, the remainderman could have a: Select one: A. Fee simple estate B. Life estate C. Leasehold estate D. Fee simple determinable estate

Which of the following situations is an example of a tenancy at sufferance? Select one: A. A farmer who refuses to cede possession upon lease expiration in order to harvest his crops B. A person who leases a store and renews her lease on a month-to-month basis C. A tenant who installed trade fixtures, but did not remove them when the lease expired D. A tenant who uses the premises in violation of her lease

Dave had a bad year. In February, he defaulted on his mortgage. In March, a carpenter built a deck on Dave's house. In April, that carpenter secured a mechanic's lien for work and materials since Dave wasn't able to pay his bill. In June, a judge signed a judgment lien against Dave and all of his real and personal property. Finally, Dave realized that he forgot to pay his property taxes, which should have been due in August. Which of the following liens has priority after a court-ordered foreclosure of Dave's home? Select one: A. The lien of his mortgage B. The real estate tax lien C. The judgement lien D. The mechanic's lien

Fred bought a new boat and hired a contractor to build a dock on his lakefront property. Fred did not pay the contractor. In an attempt to get paid, the contractor may file a: Select one: A. Mechanics lien against the boat B. Mechanics lien against the property C. General lien against Fred D. All of the above

Property taxes on cooperative units are assessed in the form of: Select one: A. Individual tax bills for each unit B. A single tax bill, prorated among individual units C. Annual tax bills based on the type of unit D. Biannual tax bills based on the type of unit

What type of legal description will most accurately describe an irregularly shaped parcel of land? Select one: A. Lot and block B. Metes and bounds C. Recorded plat of subdivision D. Government survey

The most predictable element of severance is: Select one: A. Attachment B. Intent C. Agreement D. Adaption

Lionel rents an apartment under a three-year lease. After the first six months, the landlord sells the building. Lionel: Select one: A. Must renegotiate the lease with the new owner or vacate the premises B. Need not do anything if the owner fails to renegotiate the lease within 60 days C. Need not do anything, but the new owner may terminate the lease at any time D. Need not do anything

Zorba owns property and gladly allows his friend, Young, to use it. To best protect Zorba's interest, he should give Young: Select one: A. An easement in gross B. A right of way C. An appurtenant easement D. A license

A building supplier delivers bricks to a job site on July 1st for the construction of a patio. The contractor finished the patio on July 30th and was paid. The contractor files bankruptcy on September 1st. On September 5th, the building supply company filed a mechanics lien against the owner of the property. What is the effective date of the lien? Select one: A. July 1st B. July 30th C. September 1st D. September 5th

A couple is buying a house with an oddly shaped living room. The seller built a custom-made bookcase to specifically fit into the room. Absent an agreement, the bookcase is most likely: Select one: A. A fixture B. The buyer's personal property C. A replacement fixture D. The seller's personal property

A husband and wife own property as tenants by the entirety. The husband dies, leaving all his property to their son. Which of the following statements is true? Select one: A. The wife owns the property in severalty B. The son is a tenant-in-common with his mother C. The son will automatically inherit the property when his mother dies D. The son has a life estate, pur aure vie

A joint tenant wants to sell his interest without consent from the other joint tenants. Can he do this? Select one: A. Yes, because each joint tenant may sell independently of the others B. Yes, because survivorship is present in joint tenancy C. No, because all co-owners must first agree to sever the tenancy D. No, because the unity of interest in a joint tenancy protects the other co-owners

A legal land description must: Select one: A. Be sufficient to identify the property B. Carry the measurements to the nearest inch C. Show the area of the land being described D. Contain an informal reference

A metes and bounds survey will most likely identify: Select one: A. Certain encumbrances B. All title defects C. Marketable title D. Liens

A person who rents a property from June 1st to June 30th of the same year most likely has a(n): Select one: A. Estate for years B. Periodic estate C. Tenancy at will D. License Feedback Your answer is incorrect. (types of ownership) Even though term is only one month, this lease has a definite beginning and end. Therefore, this is an estate for years.

All of the following terms are physical characteristics of land except: Select one: A. Situs B. Immobility C. Heterogeneity D. Indestructibility

An appurtenant easement may be terminated by: Select one: A. Merger of the dominant and servient estates B. Condemnation of the servient estate through eminent domain C. Abandonment by the servient estate D. All of the above

Bobby the Buyer purchases a lot for his dream house. Since he is careful to respect the property boundaries, Bobby inspects an old description of his lot from the city archives. In part, the description states: "Starting from the Tulip Tree on the northwest corner of the Smith Farm, proceed directly due west to the banks of Jeremy's Run. Proceed south to the two Oak trees on the Jeremy Farm. Proceed east to the two large boulders. Finally, proceed north back to the Tulip Tree." This method of land description is: Select one: A. Metes and bounds B. Rectangular C. Prior recorded documents D. Monument

Harry Homeowner takes pride in his property and keeps it well maintained (inside and outside of the home). However, Harry's neighbors are not so conscientious. What concept best explains why Harry's home is losing value? Select one: A. Immobility B. Uniqueness C. Scarcity D. Situs

If a husband and wife own property as tenants-in-common, which of the following statements is true? Select one: A. Either may dispose of their own interest without approval of the other B. Title to the property is in the marital unit C. Both must agree to dispose of their interest D. None of the above statements are true

Large blocks of land are located in a rural area of a Midwestern state. This would most likely be described by: Select one: A. Government rectangular survey B. Lot, block, and subdivision C. Metes and bounds D. Reference to other documents

Mary purchased the right to use an apartment for 2 weeks every year. This is an example of: Select one: A. Interval ownership B. Ownership as a joint tenant C. Cooperative ownership D. A limited partnership Feedback Your answer is incorrect. (types of ownership) Interval ownership (time-share) involves ownership for only a particular time period. Purchasers own the property as tenants-in-common, and rotate possession (use) of the property as agreed upon previously. Time share ownership is most commonly seen in vacation properties.

One house in a large neighborhood stands out because, compared to the others, it is not well maintained. Which concept best explains this single home's impact on the surrounding community? Select one: A. The poorly maintained home value may rise due to immobility B. The value of all other homes in the neighborhood will decrease due to immobility C. The poorly maintained home value would increase if it were assembled with another lot D. The values of other homes in the neighborhood will decrease due to situs Feedback Your answer is incorrect. (land characteristics and property descriptions) A poorly maintained home in a large, well maintained community may actually increase in value due to the concept of immobility--its value is directly affected by its external surroundings. One home is not likely to decrease property values for all other homes in a large community.

Several people hold property as tenants-in-common. One of the tenants dies. His interest in the property will: Select one: A. Pass to his heirs or devisees, if any B. Pass to the remainderman C. Be equally divided among the other owners D. Be divided between the other owners in direct proportion to their ownership interest

Six months after Brady bought his home, he installed custom-made storm windows and doors. If Brady subsequently transfers title to someone else, will the storm windows and doors automatically transfer as well? Select one: A. Yes, unless the parties agree that they will be removed before the sale has advanced B. Yes, because the storm windows and doors are fixtures C. No, because they can be easily removed without damaging the property D. No, so long as Brady reinstalls the original windows and doors

The force of water on land is known as: Select one: A. Accretion B. Riparian C. Littoral D. Annexation

The original owner of a condominium unit holds which of the following interests? Select one: A. Fee simple absolute in the unit B. Joint tenancy in the common areas C. Joint tenancy in the common walls D. All of the above Feedback Your answer is incorrect. (types of ownership) All original condominium owners have fee simple absolute title (ownership) in their individual living unit. Consistent with the condominium form of ownership, all original and subsequent condominium owners have a tenancy in common in the common areas of the project.

What distinguishes an easement in gross from an appurtenant easement? Select one: A. Whether the benefit runs with the land B. Whether there are adjacent properties C. Whether the use is regular exercised D. Whether the purpose is legal

What would most accurately describe an irregularly-shaped parcel of land? Select one: A. Metes and bounds B. Government survey C. Lot, block, and subdivision D. All of the above are equally accurate

Which of the following is most likely to transfer with real property? Select one: A. Fructus naturales B. Portable kitchen appliances C. Fructus industriales D. Trade fixtures

A condominium association can most likely perform all of the following actions, EXCEPT: Select one: A. Elect a Board of Directors B. Interview prospective buyers C. Award contracts to tradesmen D. Assess a fee to unit owners in order to cover maintenance and repairs

A group intends to buy real property jointly, as follows: Person A contributes $11,000; Person B, $10,000; Person C, $5,000; and Person D, $6,000. Each desires to protect their heirs' share of the property. How could they take title? Select one: A. Joint tenancy B. Tenancy-in-Common C. Tenancy by the entirety D. Either A or B

A land description that reads "T4S, R3E" is most likely based on the: Select one: A. Monument method B. Government survey method C. Metes and bounds method D. Recorded plat method Feedback Your answer is incorrect. (land characteristics & property descriptions) The rectangular method (government survey) uses range lines, which are north-south lines in a township. Townships are located by their distance north or south of the base line, and east or west of the primary meridian. Government survey descriptions read like: "Township 4 South, Range 3 East, or T4S, R3E."

A landlord's right to re-enter or regain possession of the premises upon expiration of a lease is known as: Select one: A. Redemption B. Reversion C. Remainder D. Recovery

A property has three owners. These parties own 10%, 20%, and 70% interest, respectively. What type of ownership do they have? Select one: A. Joint tenancy B. Tenancy in common C. Tenancy by the entireties D. Either A or B Feedback Your answer is incorrect. (types of ownership) A joint tenancy requires that each tenant have a unity of interest (an identical interest in the property). A tenancy in common does not contain a unity of interest (which allows each tenant to have a different amount of interest). A tenancy by the entireties ONLY applies to a husband and wife (which you cannot legally have with three people). Severalty refers to sole ownership. Therefore, of the choices, the owner must have a tenancy in common.

Agnes decides to impose a restrictive covenant (a negative covenant or deed restriction) that will apply to any future owners of the property she currently possesses. Agnes must have: Select one: A. A lease B. A fee simple estate C. An easement D. Either A or B Feedback Your answer is incorrect. (types of ownership) Only the holder of a fee simple estate may encumber the property with a deed restriction. This is one of the sticks (to encumber) included in her bundle of legal rights.

Boundary markers of land (natural or man-made) are best known as: Select one: A. Benchmarks B. Monuments C. Stakes D. Metes

Former personal property that automatically conveys: Select one: A. Is a trade fixture B. Is a fixture C. Is chattel D. Occurs only by agreement Feedback Your answer is incorrect. (classes of property) When personal property is affixed or attached to land, it can become real property that will convey with the land. This is referred to as a fixture. Trade fixtures are also personal property that can be attached to land. However, trade fixtures are installed by a tenant in connection with her trade or business. Trade fixtures do not become real property, so long as they are timely removed. Chattel is another name for personal property, which may or may not transfer with land.

How can the extent of an encroachment always be discovered? Select one: A. Physical observation B. Land survey C. Title search D. Quitcalm deed Feedback Your answer is incorrect. (encumbrances) A land survey (performed by a professional surveyor) documents property boundaries. A competent surveyor will find and document any physical encroachments

If the property title is set to pass to someone other than the grantor upon termination of an estate, the interest held by the person who will receive the property is: Select one: A. Reversionary B. Remainder C. Equitable D. Ostensible

In relation to lien priority, which of the following statements is incorrect? Select one: A. A recorded deed has priority over a recorded mortgage B. Federal income tax liens have priority over all other liens C. Mechanics liens apply on the date that work began or materials were supplied D. The date of recording determines the priority for private liens

Jean transfers a fee simple interest in property to her daughter, Lisa, but reserves a life estate for herself. During Jean's lifetime, Lisa holds a: Select one: A. Life interest, pur autre vie B. Remainder interest C. Reversionary interest D. Life estate

Jones owns two tracts of land. One tract has lakefront property. Jones sells the other tract to Smith and gives him the right to cross his property in order to reach the lake. Without the right to cross Jones' property, there is no other way for Smith to reach the lake. Smith's right could be: Select one: A. An easement by necessity B. An easement in gross C. Created by operation of law D. All of the above Feedback Your answer is incorrect. (encumbrances) Smith could either have an appurtenant easement or an easement in gross. However, the question does not specify that the properties are adjoining or that Smith owns a tract without access (i.e. a landlocked piece of land). As such, there is no indication of any necessity. Based on the information given, an easement in gross is the best answer. Easements in gross are personal and will terminate if the servient owner sells his lot or if either party dies.

Mr. and Mrs. Jones sold their home to a church, but retained the right to occupy the property as long as they lived. The interest of the church is that of a: Select one: A. Life estate B. Remainder estate C. Trustee D. Reversion estate

Mrs. Heckler bought a unit in a condominium apartment complex directly from the developer. She most likely received a: Select one: A. Proprietary interest in the complex B. Fee simple absolute interest in her unit C. Divisible fee simple interest in the common elements D. All of the above

Once created and properly recorded, may a subdivision plat be altered? Select one: A. No, because all descriptions will retain the historical reference to the original subdivision B. Yes, so long as new plats are created and recorded which reflect the changes to the original plat C. No, because a change would render all prior descriptions from the original plat as invalid D. Yes, so long as permission is obtained from the local zoning board Feedback Your answer is incorrect. (land characteristics and property descriptions) Subdivisions may be further subdivided or altered after the initial plat is recorded. This requires creating and recording new plats. If this occurs, the legal description may need to refer to all of the plats reflecting the history of the description of the parcel at issue. The correct answer is: Yes, so long as new plats are created and recorded which reflect the changes to the original plat

Real property can be changed into personal property: Select one: A. By the right of appropriation B. By severance C. By the law of capture D. Never, because land is indestructible

Real property does not include: Select one: A. Air rights B. Trade fixtures C. Improvements D. Mineral rights

Residential property may be composed of: Select one: A. Single-family homes only B. Single-family homes and cooperatives C. Commercial buildings that may have a landlord's private apartment D. A cattle ranch with a bedroom in a barn

Select one: A. The metes and bounds survey ends at the point of beginning B. The distances shown in the deed will prevail over the actual distances measured C. The length of metes in the survey can be measured to one hundredth of a foot D. The monument at the point of beginning should be as permanent as possible

Smith and Brown own abutting property that borders a river. Over the years, soil from Smith's riverbank is washed onto Brown's riverbank. Who owns the soil that was washed from Smith's riverbank to Brown's? Select one: A. Smith B. Brown C. The state D. None of the above, because all river bank owners have riparian rights Feedback Your answer is incorrect. (land characteristics and property descriptions) Accretion occurs where natural forces such as water cause land to move from one parcel to another. Once moved, it belongs to the receiving property owner.

The land characteristic that is most likely the basis for a specific performance lawsuit is: Select one: A. Immobility B. Heterogeneity C. Situs D. Improvements Feedback Your answer is incorrect. (land characteristics and property descriptions) Heterogeneity, or uniqueness, is the legal basis for specific performance lawsuits (lawsuits that seek to force a sale of land as agreed).

The rights of a condominium owner are defined by the: Select one: A. Management agreement B. Bylaws and condominium declaration C. Bylaws and corporate charter D. Public Offering Statement

Three people inherit unequal shares of a single piece of property. How could they hold ownership? Select one: A. As tenants in severalty B. As tenants-in-common C. As joint tenants D. Either B or C Feedback Your answer is incorrect. (types of ownership) First, recognize that all 3 inherit a single piece of property. Now, recognize that the problem does not state that they received an equal interest, which is mandatory for a joint tenancy. Ownership in severalty is ownership by one person only. The law provides that when there is co-ownership (more than one owner), title will default to tenants-in-common unless the deed is specific as to some other form of ownership.

Three people own a piece of property as tenants-in-common. Two of the owners want to sell the property, but the third party does not. The two owners that want to sell: Select one: A. Cannot sell because all three must agree B. May file suit for partition C. May seek detachment D. May sever the third party's interest

What is the best description of ownership in severalty? Select one: A. Several persons own one piece of real property B. One person owns several pieces of real property C. Limited to corporate ownership D. Property owned by several members of the same family

What would most likely to be included in the sale of real property? Select one: A. An easement B. Enjoyment C. Trade fixtures D. A kitchen sink

Which of the following choices is NOT a freehold estate? Select one: A. A present interest in land B. A lease that does not require rent payments C. A life estate D. All of the above

A person enters into a lease agreement for 1 year. At the end of a year, the lease expires, but the tenant does not vacate the property. The tenant would be considered a: Select one: A. Periodic tenant, because the lease automatically renews B. Tenant at will, because no additional time period was specified C. Tenant at sufferance, because the tenant is breaking the law D. Freehold tenant, because the landlord failed to act

A person has fee simple ownership of a unit in a multi-story building. She is also required to pay property taxes on that unit. Which type of common interest ownership could the owner have? Select one: A. Proprietary lease B. Cooperative ownership C. Condominium ownership D. Joint tenancy in the common area

A property owner may: Select one: A. Possess property, but not dispose of it B. Enjoy property, but not encumber it C. Dispose of property, but not destroy it D. Control property, but not exclude others Feedback Your answer is incorrect. (classes of property) The bundle of legal rights that accompany property ownership are: possess, control, enjoy, exclude, encumber, and dispose. Land cannot be destroyed. Therefore, of the choices given, the best answer is that a property owner cannot destroy the property.

A prospective buyer wants the seller to include an ornate flagpole attached to the front porch of the house. What should the agent do to best ensure the flagpole conveys? Select one: A. Nothing, because the pole is attached and will automatically convey B. Call the seller and advise them that the buyer wants the pole C. Include the flag pole in the offer to purchase D. Photograph the flag pole as evidence of its attachment

All of the following choices are considered as legal descriptions of real property EXCEPT: Select one: A. Lot and block B. Metes and bounds C. Street address D. Government survey

Course Overview SECTIONS TAB 1: Slideshows & FlashcardsProperty Ownership (Pt. 1)Interactive ContentProperty Ownership (Pt. 2)Interactive ContentFlashcards - Property OwnershipQuizNational Topic Tester - Property OwnershipQuizTransfer of TitleInteractive ContentFlashcards - Transfer of TitleQuizNational Topic Tester - Transfer of PropertyQuizLand Use Controls & RegulationsInteractive ContentFlashcards - Land Use Controls & RegulationsQuizNational Topic Tester - Land Use ControlsQuizSpecialty AreasInteractive ContentFlashcards - Specialty AreasQuizNational Topic Tester - Specialty AreasQuizContracts (Pt. 1)Interactive ContentContracts (Pt. 2)Interactive ContentFlashcards - ContractsQuizNational Topic Tester - ContractsQuizLaws of AgencyInteractive ContentFlashcards - Laws of AgencyQuizNational Topic Tester - Laws of AgencyQuizPractice of Real EstateInteractive ContentFlashcards - Practice of Real EstateQuizNational Topic Tester - Practice of Real EstateQuizMandated DisclosuresInteractive ContentFlashcards - Mandated DisclosuresQuizNational Topic Tester - Mandated DisclosuresQuizFinancing (Pt. 1)Interactive ContentFinancing (Pt. 2)Interactive ContentFlashcards - FinancingQuizNational Topic Tester - FinancingQuizValuation & Market AnalysisInteractive ContentFlashcards - Valuation & Market AnalysisQuizNational Topic Tester - Valuation & Market AnalysisQuizReal Estate CalculationsInteractive ContentFlashcards - Real Estate CalculationsQuizNational Topic Tester - Real Estate CalculationsQuizLicensing (Pt. 1)Interactive ContentLicensing (Pt. 2)Interactive ContentLicensing (Pt. 3)Interactive ContentFlashcards - LicensingQuizState Topic Tester - VA License LawQuizState Topic Tester - VA Standards of ConductQuizState Topic Tester - VA Advertising RestrictionsQuizState Topic Tester - VA Transaction Recovery FundQuizEscrow AccountsInteractive ContentFlashcards - Escrow AccountsQuizState Topic Tester - Escrow AccountsQuizDisclosure RequirementsInteractive ContentVA Disclosure Statement NoticeFileVA Residential Property DisclosuresFileFlashcards - Disclosure RequirementsQuizState Topic Tester - Disclosure RequirementsQuizAgency Definitions & RelationshipsInteractive ContentFlashcards - Agency Definitions & RelationshipsQuizState Topic Tester - VA AgencyQuizFair Housing Laws & RegulationsInteractive ContentFlashcards - Fair Housing Laws & RegulationsQuizState Topic Tester - VA Fair Housing ActQuizSpecific Acts Pertaining To Real EstateInteractive ContentFlashcards - Specific Acts Pertaining to Real EstateQuizState Topic Tester - VA Time Share ActQuizState Topic Tester - VA Condo ActQuizState Topic Tester - VA Property Owners Association ActQuizState Topic Tester - VA Landlord-Tenant ActQuizState Practice ExamQuizNational Practice ExamQuiz TAB 2: Course Textbook TAB 3: Practice Exams TAB 4: E-Final Exams Student Resources Live Classroom Worksheets Free PLE Quiz navigation">Quiz navigation 123456789101112131415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960616263646566676869707172737475767778798081828384858687888990919293949596979899100101102103104105106107108109110 Show one page at a timeFinish review Virginia - Principles and Practices of Real Estate - 60 Credits (Premier) Dashboard My courses VA Salesperson Licensing Course Premier TAB 1: Slideshows & Flashcards National Topic Tester - Property Ownership Started onSaturday, March 6, 2021, 8:20 PMStateFinishedCompleted onSaturday, March 6, 2021, 9:32 PMTime taken1 hour 12 minsPoints53.00/110.00Grade48.18 out of 100.00Feedback Sorry, you did not pass. Question 1 Incorrect 0.00 points out of 1.00 Flag question Question text Which statement about encumbrances is correct? Select one: A. An encumbrance must increase real property value B. A lease is an example of an encumbrance C. Encumbrances can only be created by an owner of real property D. Both A and C Feedback Your answer is incorrect. (encumbrances) An encumbrance is anything that affects the title to real property, which could diminish its value. There are some positive encumbrances, but the limitation dimishes the owner's rights in the property. Encumbrances can be created by either individual or government action. Finally, a lease is an example of an encumbrance. The correct answer is: A lease is an example of an encumbrance Question 2 Correct 1.00 points out of 1.00 Flag question Question text The most predictable element of severance is: Select one: A. Attachment B. Intent C. Agreement D. Adaption Feedback Your answer is correct. (land characteristics & property descriptions) You should avoid doubt by putting the severance agreement in writing. A written agreement is the best way to ensure questionable items (like fixtures) transfer. The correct answer is: Agreement Question 3 Correct 1.00 points out of 1.00 Flag question Question text Fred bought a new boat and hired a contractor to build a dock on his lakefront property. Fred did not pay the contractor. In an attempt to get paid, the contractor may file a: Select one: A. Mechanics lien against the boat B. Mechanics lien against the property C. General lien against Fred D. All of the above Feedback Your answer is correct. (encumbrances) The contractor improved real property by building a dock, and is therefore entitled to file a mechanics lien against the improved property. He cannot file a mechanics lien on the boat because it is personal property. He cannot file a general lien because mechanics liens are specific. The correct answer is: Mechanics lien against the property Question 4 Correct 1.00 points out of 1.00 Flag question Question text What type of legal description will most accurately describe an irregularly shaped parcel of land? Select one: A. Lot and block B. Metes and bounds C. Recorded plat of subdivision D. Government survey Feedback Your answer is correct. (land characteristics and property descriptions) Metes and bounds is best suited to describe irregularly shaped parcels of land, as one can easily navigate any shape from the point of beginning (POB). The correct answer is: Metes and bounds Question 5 Correct 1.00 points out of 1.00 Flag question Question text Which of the following situations is an example of a tenancy at sufferance? Select one: A. A farmer who refuses to cede possession upon lease expiration in order to harvest his crops B. A person who leases a store and renews her lease on a month-to-month basis C. A tenant who installed trade fixtures, but did not remove them when the lease expired D. A tenant who uses the premises in violation of her lease Feedback Your answer is correct. (types of ownership) A tenant "at sufferance" is one who remains in possession of leased property after the lease expires. While the farmer retains title to his crops (because they are fructus industriales), he has no rights in the leased premises. A tenant that violates the conditions of her lease before it expires has lawful possession unless or until she is evicted. The correct answer is: A farmer who refuses to cede possession upon lease expiration in order to harvest his crops Question 6 Incorrect 0.00 points out of 1.00 Flag question Question text A lease that contains no mention of an occupancy period is most likely to be: Select one: A. Invalid B. A month-to-month lease C. Covered by the statute of frauds D. A tenancy at sufferance Feedback Your answer is incorrect. (types of ownership) A lease may be valid without a specified duration. A month-to-month lease does specify a period of occupancy--at least one month. A lease only falls under the statute of frauds if it is for one year or more. Finally, a tenancy at sufferance exists where someone remains in possession of the rental property after their lease expires, against the wishes of the landlord. Therefore, a tenancy at sufferance specifies no period of occupancy. The correct answer is: A tenancy at sufferance Question 7 Incorrect 0.00 points out of 1.00 Flag question Question text Property taxes on cooperative units are assessed in the form of: Select one: A. Individual tax bills for each unit B. A single tax bill, prorated among individual units C. Annual tax bills based on the type of unit D. Biannual tax bills based on the type of unit Feedback Your answer is incorrect. (types of ownership) The tax bill is issued to the corporation or owner entity, which is then prorated among the proprietary tenants. The correct answer is: A single tax bill, prorated among individual units Question 8 Correct 1.00 points out of 1.00 Flag question Question text Jon purchased a 640 acre tract of land. Which method of legal property description would work best for Jon? Select one: A. Monument B. Metes and bounds C. Recorded plat D. Geodetic Feedback Your answer is correct. (land characteristics and property descriptions) Geodetic and government survey are best suited to identify large tracts of land. Under this system, there are townships and sections. One section is one square mile, or 640 acres. The correct answer is: Geodetic Question 9 Correct 1.00 points out of 1.00 Flag question Question text Dave had a bad year. In February, he defaulted on his mortgage. In March, a carpenter built a deck on Dave's house. In April, that carpenter secured a mechanic's lien for work and materials since Dave wasn't able to pay his bill. In June, a judge signed a judgment lien against Dave and all of his real and personal property. Finally, Dave realized that he forgot to pay his property taxes, which should have been due in August. Which of the following liens has priority after a court-ordered foreclosure of Dave's home? Select one: A. The lien of his mortgage B. The real estate tax lien C. The judgement lien D. The mechanic's lien Feedback Your answer is correct. (encumbrances) Real estate tax liens have priority over all other liens, including mortgages. The correct answer is: The real estate tax lien Question 10 Correct 1.00 points out of 1.00 Flag question Question text The owner of a fee simple absolute estate leaves a will, which only specifies that he will leave a life estate to one party and a remainder estate to another. Upon the death of the life tenant, the remainderman could have a: Select one: A. Fee simple estate B. Life estate C. Leasehold estate D. Fee simple determinable estate Feedback Your answer is correct. (types of ownership) The question states that the grantor has a fee simple absolute estate and that his will specifies only two things--that one person gets a life estate and another gets a remainder. This fee simple estate will pass to the remainderman upon the death of the life estate holder because: (i) the life tenant receives any interest that the grantor had; (ii) the remainderman will eventually receive any interest that the life tenant has; and (iii) there are no restrictions specified on the remainder. If the grantor had owned a lesser estate, or decided to place restrictions on the remainder, the estate could have been a fee simple determinable. The correct answer is: Fee simple estate Question 11 Correct 1.00 points out of 1.00 Flag question Question text Lionel rents an apartment under a three-year lease. After the first six months, the landlord sells the building. Lionel: Select one: A. Must renegotiate the lease with the new owner or vacate the premises B. Need not do anything if the owner fails to renegotiate the lease within 60 days C. Need not do anything, but the new owner may terminate the lease at any time D. Need not do anything Feedback Your answer is correct. (types of ownership) The new owner owns the property subject to the existing lease. As such, he or she must honor the rental period and may not significantly alter the terms. Since the lease is Lionel's personal property, he need not do anything. The correct answer is: Need not do anything Question 12 Incorrect 0.00 points out of 1.00 Flag question Question text Zorba owns property and gladly allows his friend, Young, to use it. To best protect Zorba's interest, he should give Young: Select one: A. An easement in gross B. A right of way C. An appurtenant easement D. A license Feedback Your answer is incorrect. (encumbrances) A license is permission to use the land (may be an oral agreement), which is revocable at will. An easement in gross is similar to a license, but must be it written, creates an interest in land, and cannot be revoked outside of the agreed upon termination. A license provides greater flexibility for Zorba, so this would better protect his interests. The correct answer is: A license Question 13 Correct 1.00 points out of 1.00 Flag question Question text The unity that exists in both a tenancy in common and a joint tenancy is: Select one: A. Time B. Title C. Possession D. None of the above Feedback Your answer is correct. (types of ownership) The "right" of possession is common to both forms of ownership. For joint tenancy to exist, each owner must acquire title from the same source, at the same time, and each owner must have the same percentage of interest. With a tenancy in common, there may be different interests and different sources. The correct answer is: Possession Question 14 Incorrect 0.00 points out of 1.00 Flag question Question text If a man is considered a "proprietary tenant," he is most likely owns interest in which of the following types of property? Select one: A. Condominium apartment B. Apartment house C. Cooperative apartment D. Office building Feedback Your answer is incorrect. (types of ownership) A proprietary tenant is a person who lives in a cooperative apartment. To enter into this type of ownership, the purchaser buys an agreed upon amount of stock in the cooperative (worth the sales price of his particular unit). In exchange, that person is given a proprietary lease on his apartment. The correct answer is: Cooperative apartment Question 15 Correct 1.00 points out of 1.00 Flag question Question text Which of the following items is not personal property? Select one: A. A lease B. A mortgage that secures personal property C. Partnership interests D. An easement Feedback Your answer is correct. (classes of property) Leases, mortgages on personal property, and partnership interests are all personal property. Of the listed choices, only an easement is NOT personal property. The correct answer is: An easement Question 16 Correct 1.00 points out of 1.00 Flag question Question text A tenant and landlord enter into a six month lease on July 1, 2016, to expire on December 31, 2016. Which of the following statements is correct? Select one: A. The landlord must serve notice to quit at least 30 days before expiration or the lease will renew B. The tenant must serve notice to quit at least 30 days before expiration or the lease will renew C. If neither party provides proper notice to quit, the lease will renew for another 6 months D. The lease will terminate on December 31, 2016 Feedback Your answer is correct. (types of ownership) This question describes an estate for years because there is a definite beginning and ending date. Estates for years do not require any notice to terminate because the end is already specified. Therefore, the lease will terminate on December 31, 2016 The correct answer is: The lease will terminate on December 31, 2016 Question 17 Correct 1.00 points out of 1.00 Flag question Question text If the property title is set to pass to someone other than the grantor upon termination of an estate, the interest held by the person who will receive the property is: Select one: A. Reversionary B. Remainder C. Equitable D. Ostensible Feedback Your answer is correct. (types of ownership) If the interest given goes back to the grantor, then the grantor's interest is reversionary. Meanwhile, if the interest goes to someone else, the interest is a remainder estate. The correct answer is: Remainder Question 18 Incorrect 0.00 points out of 1.00 Flag question Question text Residential property may be composed of: Select one: A. Single-family homes only B. Single-family homes and cooperatives C. Commercial buildings that may have a landlord's private apartment D. A cattle ranch with a bedroom in a barn Feedback Your answer is incorrect. (classes of property) Residential property is primarily composed of single-family homes, but can include smaller multi-family units (like condominiums and cooperatives). The correct answer is: Single-family homes and cooperatives Question 19 Correct 1.00 points out of 1.00 Flag question Question text Industrial property includes all of the following uses except: Select one: A. Mines B. Warehouses C. Ranches D. Vacant lots Feedback Your answer is correct. (classes of property) Note that industrial property includes mines, warehouses, plants, factories, utilities, and vacant land that is suitable for industrial development. A ranch is better classified as agricultural property. The correct answer is: Ranches Question 20 Incorrect 0.00 points out of 1.00 Flag question Question text Mr. Foster owns an automobile, a boat, a house, and a farm. He defaults on the mortgage covering his house. If a judgment lien is entered, which of the following properties could be subject to the judgment lien? Select one: A. Car B. Boat C. Home D. All of the above Feedback Your answer is incorrect. (encumbrances) Judgment liens are general liens, which means that they attach to both the real and personal property of a debtor. However, judgment liens only apply to property located in the jurisdiction in which the lien is recorded. The correct answer is: All of the above Question 21 Incorrect 0.00 points out of 1.00 Flag question Question text What would most likely to be included in the sale of real property? Select one: A. An easement B. Enjoyment C. Trade fixtures D. A kitchen sink Feedback Your answer is incorrect. (classes of property) Enjoyment refers to one of the legal rights that ALWAYS accompanies property ownership. An easement may not always convey (ex. if it is an easement in gross). Trade fixtures are personal property of the tenant for the operation of business, and will not convey so long as they are timely removed. A kitchen sink could be either a fixture or a trade fixture. As a trade fixture, it would not automatically convey if it were timely removed. As a fixture, it would not automatically convey if there were an agreement to the contrary or severance was otherwise possible. Therefore, enjoyment is the best answer. The correct answer is: Enjoyment Question 22 Correct 1.00 points out of 1.00 Flag question Question text The land description that uses a recorded subdivision plat is the: Select one: A. Geodetic survey method B. Rectangular survey system C. Lot and block system D. Metes and bounds survey method Feedback Your answer is correct. (land characteristics and property descriptions) Recorded subdivision plats are used with the lot, block, and subdivision method of land description. The correct answer is: Lot and block system Question 23 Correct 1.00 points out of 1.00 Flag question Question text Large blocks of land are located in a rural area of a Midwestern state. This would most likely be described by: Select one: A. Government rectangular survey B. Lot, block, and subdivision C. Metes and bounds D. Reference to other documents Feedback Your answer is correct. (land characteristics and property descriptions) The government survey method, or rectangular survey, is used in more than 30 states--mostly in the mid-west. The correct answer is: Government rectangular survey Question 24 Incorrect 0.00 points out of 1.00 Flag question Question text A legal land description must: Select one: A. Be sufficient to identify the property B. Carry the measurements to the nearest inch C. Show the area of the land being described D. Contain an informal reference Feedback Your answer is incorrect. (land characteristics and property descriptions) A legal land description need only be sufficient to identify the property. The correct answer is: Be sufficient to identify the property Question 25 Correct 1.00 points out of 1.00 Flag question Question text A couple is buying a house with an oddly shaped living room. The seller built a custom-made bookcase to specifically fit into the room. Absent an agreement, the bookcase is most likely: Select one: A. A fixture B. The buyer's personal property C. A replacement fixture D. The seller's personal property Feedback Your answer is correct. (classes of property) In determining whether an item is a fixture, consider: the method of the object's attachment, whether the object demonstrates adaptation to a unique feature, whether the parties have reached an agreement regarding the object, and the relationship of the parties. In this case, the object was specifically built to fit the unique layout of the room (an adaptation). Therefore, absent an agreement to the contrary, the bookcase is most likely to be a fixture. The correct answer is: A fixture Question 26 Incorrect 0.00 points out of 1.00 Flag question Question text A building supplier delivers bricks to a job site on July 1st for the construction of a patio. The contractor finished the patio on July 30th and was paid. The contractor files bankruptcy on September 1st. On September 5th, the building supply company filed a mechanics lien against the owner of the property. What is the effective date of the lien? Select one: A. July 1st B. July 30th C. September 1st D. September 5th Feedback Your answer is incorrect. (encumbrances) Regardless of when the notice is filed, a mechanics lien takes priority based on the date that the materials were delivered or the date that the work was started to improve the real property. The correct answer is: July 1st Question 27 Incorrect 0.00 points out of 1.00 Flag question Question text Mr. and Mrs. Jones sold their home to a church, but retained the right to occupy the property as long as they lived. The interest of the church is that of a: Select one: A. Life estate B. Remainder estate C. Trustee D. Reversion estate Feedback Your answer is incorrect. (types of ownership) Mr. and Mrs. Jones deeded their home to the church, but reserved a life estate for themselves. Therefore, the church has a future estate and the Jones' are life tenants. Future estates include both remainder estates and reversion estates. A reversion estate is created where the grantor conveys less than a fee simple estate and retains a future interest for herself. A remainder estate is created where the grantor conveys less than a fee simple estate (here, the grantor conveyed a full fee simple) and creates a future interest for a third party. The correct answer is: Remainder estate Question 28 Correct 1.00 points out of 1.00 Flag question Question text Farmer Pete leases land to grow wheat. In April, Farmer Pete plants his crop, expecting to harvest in October. However, just before harvest time, his landlord successfully evicts him for nonpayment of rent. In October, Farmer Pete attempts to harvest his wheat. The wheat belongs to: Select one: A. The landlord, because Farmer Pete is no longer in possession of the property B. Farmer Pete, but he cannot re-enter the property without the landlord's permission C. Farmer Pete, because it is personal property D. The landlord, because the crops are affixed to the land Feedback Your answer is correct. (land characteristics and property descriptions) Growing crops are known as fructus industriales, or emblements. Emblements remain personal property even before harvest, despite the fact that they are attached to the land. Landlords cannot deny tenants the right to enter and harvest crops after a lease terminates. The correct answer is: Farmer Pete, because it is personal property Question 29 Incorrect 0.00 points out of 1.00 Flag question Question text What distinguishes an easement in gross from an appurtenant easement? Select one: A. Whether the benefit runs with the land B. Whether there are adjacent properties C. Whether the use is regular exercised D. Whether the purpose is legal Feedback Your answer is incorrect. (encumbrances) An easement appurtenant attaches to and runs with the land, while an easement in gross is a personal right which would terminate upon the death of either the grantor or grantee. An easement in gross also terminates with the sale of the property. Therefore, an easement in gross does not run with the land. However, an easement appurtenant does run with the land. Both easements could involve adjacent properties. The correct answer is: Whether the benefit runs with the land Question 30 Incorrect 0.00 points out of 1.00 Flag question Question text Several people hold property as tenants-in-common. One of the tenants dies. His interest in the property will: Select one: A. Pass to his heirs or devisees, if any B. Pass to the remainderman C. Be equally divided among the other owners D. Be divided between the other owners in direct proportion to their ownership interest Feedback Your answer is incorrect. (types of ownership) Upon the death of a tenant-in-common, that interest in the property will pass to his heirs or devisees. An heir is a person that receives property from someone who died without a will (intestate). State laws determine who is a rightful heir and how much they are entitled to (if anything at all). A devisee is a person that receives property from someone who died with a will, which specifically indicates that the person in question will receive said property. Title passes to the other owners when there is joint tenancy, NOT with a tenancy in common. The correct answer is: Pass to his heirs or devisees, if any Question 31 Correct 1.00 points out of 1.00 Flag question Question text What is NOT true about metes and bounds? Select one: A. The metes and bounds survey ends at the point of beginning B. The distances shown in the deed will prevail over the actual distances measured C. The length of metes in the survey can be measured to one hundredth of a foot D. The monument at the point of beginning should be as permanent as possible Feedback Your answer is correct. (land characteristics and property descriptions) Note that if there is a difference between the distances shown in the deed and the actual distances measured by survey, the data in the survey will prevail over the data contained in the deed. The correct answer is: The distances shown in the deed will prevail over the actual distances measured Question 32 Correct 1.00 points out of 1.00 Flag question Question text To have any legal affect, plats drawn from the lot, block, and subdivision method must: Select one: A. Include a plat B. Be pre-approved by the country or city before recordation C. Be recorded D. All of the above Feedback Your answer is correct. (land characteristics and property descriptions) Under the lot, block, and subdivision method, the size and location of each block and lot is shown on a plat, which serves as the basic reference point for all subdivision lots. In order to have any legal affect, all plats must be recorded in the public recorder's office, clerk's office, or land records of the locality in which it is situated. Plats must be pre-approved by the governmental section that is in charge of zoning before they can be recorded. The correct answer is: All of the above Question 33 Incorrect 0.00 points out of 1.00 Flag question Question text A joint tenant wants to sell his interest without consent from the other joint tenants. Can he do this? Select one: A. Yes, because each joint tenant may sell independently of the others B. Yes, because survivorship is present in joint tenancy C. No, because all co-owners must first agree to sever the tenancy D. No, because the unity of interest in a joint tenancy protects the other co-owners Feedback Your answer is incorrect. (types of ownership) One joint tenant may sell his or her interest independently of the others and without their consent, but could NOT sell the whole. Anyone who buys that interest will become a tenant-in-common with the others, not a joint tenant. The correct answer is: Yes, because each joint tenant may sell independently of the others Question 34 Correct 1.00 points out of 1.00 Flag question Question text Jean transfers a fee simple interest in property to her daughter, Lisa, but reserves a life estate for herself. During Jean's lifetime, Lisa holds a: Select one: A. Life interest, pur autre vie B. Remainder interest C. Reversionary interest D. Life estate Feedback Your answer is correct. (types of ownership) Lisa holds a remainder interest in the property until Jean dies. Then, Lisa will own the property in fee simple. The correct answer is: Remainder interest Question 35 Incorrect 0.00 points out of 1.00 Flag question Question text What is the best description of ownership in severalty? Select one: A. Several persons own one piece of real property B. One person owns several pieces of real property C. Limited to corporate ownership D. Property owned by several members of the same family Feedback Your answer is incorrect. (types of ownership) When one person alone owns the property, it is owned in severalty. This means that ownersip is severed (separate) from all others. The correct answer is: One person owns several pieces of real property Question 36 Incorrect 0.00 points out of 1.00 Flag question Question text Sam dies and leaves a valid will. Sam leaves the family farm to his children after the death of his wife, Jane. Several years after Sam's death, Jane sells her interest to Larry. Which of the following statements is true? Select one: A. Larry has no interest, but may cancel the contract due to Jane's fraud B. Larry has no interest because Jane did not get the children's permission to sell the farm C. Larry has a life estate pur autre vie D. None of the above Feedback Your answer is incorrect. (types of ownership) Jane has a life estate and the children are remainderman. Jane may only sell the interest she has. Thus, when she sells the property, the buyer's interest is the same as Jane's--a life estate measured by Jane's life, also known as a life estate pur autre vie. The correct answer is: Larry has a life estate pur autre vie Question 37 Incorrect 0.00 points out of 1.00 Flag question Question text Which of the following choices is NOT a freehold estate? Select one: A. A present interest in land B. A lease that does not require rent payments C. A life estate D. All of the above Feedback Your answer is incorrect. (types of ownership) Life estates and present estates are freeholds. Regardless of the term, all leases are leaseholds (non-freehold estates). The correct answer is: A lease that does not require rent payments Question 38 Correct 1.00 points out of 1.00 Flag question Question text An adequate metes and bounds description must have all of the following inclusions, EXCEPT: Select one: A. A definite point of beginning B. Four sides C. Closure D. Linear measurements and compass directions Feedback Your answer is correct. (land characteristics & property descriptions) Property does not need to be shaped like a square (or similar to a square) in a metes and bounds description. It can be any shape, with more or less than four sides. The correct answer is: Four sides Question 39 Incorrect 0.00 points out of 1.00 Flag question Question text Mrs. Heckler bought a unit in a condominium apartment complex directly from the developer. She most likely received a: Select one: A. Proprietary interest in the complex B. Fee simple absolute interest in her unit C. Divisible fee simple interest in the common elements D. All of the above Feedback Your answer is incorrect. (types of ownership) Because Mrs. Heckler purchased directly from the developer, we know with reasonable certainty that she is an initial purchaser. As an initial purchaser, we know that Mrs. Heckler received a fee simple absolute interest in her condominium unit and an interest in the common elements (as a tenant-in-common) with all the other unit owners. The correct answer is: Fee simple absolute interest in her unit Question 40 Correct 1.00 points out of 1.00 Flag question Question text All of the following statements are true about land, except: Select one: A. Land exists forever B. Real estate is immobile C. Land cannot be insured D. Land may be depreciated Feedback Your answer is correct. (land characteristics and property descriptions) The concept of indestructibility is the legal basis for neither insuring land nor being able to depreciate it. Therefore, it is false to say that land may be depreciated. The correct answer is: Land may be depreciated Question 41 Incorrect 0.00 points out of 1.00 Flag question Question text Real property does not include: Select one: A. Air rights B. Trade fixtures C. Improvements D. Mineral rights Feedback Your answer is incorrect. (classes of property) Trade fixtures remain the personal property of a tenant, so long as they are timely removed. All other choices describe real property. Therefore, only trade fixtures are NOT real property. The correct answer is: Trade fixtures Question 42 Incorrect 0.00 points out of 1.00 Flag question Question text Real property can be changed into personal property: Select one: A. By the right of appropriation B. By severance C. By the law of capture D. Never, because land is indestructible Feedback Your answer is incorrect. (land characteristics and property descriptions) Severance describes the analysis to determine whether a fixture may be removed from real property. Appropriation refers to water law doctrine. Capture is a red herring. While land is generally indestructible, other types of real property (improvements/fixtures) can change from real to personal property. The correct answer is: By severance Question 43 Correct 1.00 points out of 1.00 Flag question Question text The rights of a condominium owner are defined by the: Select one: A. Management agreement B. Bylaws and condominium declaration C. Bylaws and corporate charter D. Public Offering Statement Feedback Your answer is correct. (types of ownership) Condos are governed by their bylaws and their declaration documents. The correct answer is: Bylaws and condominium declaration Question 44 Correct 1.00 points out of 1.00 Flag question Question text The force of water on land is known as: Select one: A. Accretion B. Riparian C. Littoral D. Annexation Feedback Your answer is correct. (land characteristics and property descriptions) Accretion occurs where natural forces, like water, cause land to move from one parcel to another. Riparian and littoral refer to intangible interests in the use of water. The correct answer is: Accretion Question 45 Incorrect 0.00 points out of 1.00 Flag question Question text A group intends to buy real property jointly, as follows: Person A contributes $11,000; Person B, $10,000; Person C, $5,000; and Person D, $6,000. Each desires to protect their heirs' share of the property. How could they take title? Select one: A. Joint tenancy B. Tenancy-in-Common C. Tenancy by the entirety D. Either A or B Feedback Your answer is incorrect. (types of ownership) There is no choice here; they can ONLY take title as tenants-in-common. Joint tenancy requires that each owner hold the same percentage of interest and prohibits transfers by will (inheritence). They cannot be husband and wife because there are four people involved, so tenancy by the entirety is not an option. The correct answer is: Tenancy-in-Common Question 46 Incorrect 0.00 points out of 1.00 Flag question Question text Six months after Brady bought his home, he installed custom-made storm windows and doors. If Brady subsequently transfers title to someone else, will the storm windows and doors automatically transfer as well? Select one: A. Yes, unless the parties agree that they will be removed before the sale has advanced B. Yes, because the storm windows and doors are fixtures C. No, because they can be easily removed without damaging the property D. No, so long as Brady reinstalls the original windows and doors Feedback Your answer is incorrect. (classes of property) Storm windows and doors that are "custom made" for a property are fixtures since they were adapted to the property. As fixtures, they will automatically transfer with the property unless they can be severed (removed) legally. Determining whether an item may be severed is a common source of dispute. As such, the best answer is Choice A since an agreement will always settle the issue. The correct answer is: Yes, unless the parties agree that they will be removed before the sale has advanced Question 47 Correct 1.00 points out of 1.00 Flag question Question text Land is insurable primarily because of its: Select one: A. Uniqueness B. Indestructibility C. Improvement D. None of the above Feedback Your answer is correct. (land characteristics and property descriptions) The concept of indestructibility is the legal basis for neither insuring land nor being able to depreciate it. Therefore, the question states a negative and none of the answers are true. The correct answer is: None of the above Question 48 Correct 1.00 points out of 1.00 Flag question Question text How can an appurtenant easement be terminated? Select one: A. If the easement is released by the dominant estate B. If the dominant estate owner dies C. If the necessity no longer exists D. Either A or C Feedback Your answer is correct. (encumbrances) An appurtenant easement is one of two primary types of easements. The principal difference depends upon whether the easement attaches to a particular person (easement in gross) or a particular parcel of land (appurtenant easement). Either can be created in a variety of ways (express grant, express reservation, necessity, implication, prescription, agreement, or condemnation). Each can also be terminated in a variety of ways (lack of necessity, merger, release, abandonment, destruction, court order). Therefore, the question is tricky, but technically correct. If the appurtenant easement were created by necessity, choice "C" could be correct. If the dominant estate released the easement, choice "A" could be correct. You must always select the "best" answer. Do this by eliminating the choices that CANNOT be true. The only answer that CANNOT be true is "B". The correct answer is: Either A or C Question 49 Correct 1.00 points out of 1.00 Flag question Question text In relation to lien priority, which of the following statements is incorrect? Select one: A. A recorded deed has priority over a recorded mortgage B. Federal income tax liens have priority over all other liens C. Mechanics liens apply on the date that work began or materials were supplied D. The date of recording determines the priority for private liens Feedback Your answer is correct. (encumbrances) Real estate tax liens have priority over all others. Federal and State income tax liens must get in line, just like the others. A deed MUST be recorded before property can be pledged. On a related note, remember that property tax liens are specific and not general liens. The correct answer is: Federal income tax liens have priority over all other liens Question 50 Incorrect 0.00 points out of 1.00 Flag question Question text Which of the following is most likely to transfer with real property? Select one: A. Fructus naturales B. Portable kitchen appliances C. Fructus industriales D. Trade fixtures Feedback Your answer is incorrect. (classes of property) Of the items listed, fructus naturales is most likely to transfer with real property. Fructus naturales refers to landscaping, like trees and bushes. Trade fixtures and fructus industriales do not usually transfer with real property. Fructus industriales, or emblements, refers to growing crops. Trade fixtures are installed by a tenant in connection with his trade or business, and they do not convey provided they are timely removed. The correct answer is: Fructus naturales Question 51 Incorrect 0.00 points out of 1.00 Flag question Question text Which item is personal property? Select one: A. Apartment lease B. Business reputation C. Tool shed attached to the brick foundation D. Both A and B Feedback Your answer is incorrect. (classes of property) Leases and business reputation are both intangible personal property. The correct answer is: Both A and B Question 52 Correct 1.00 points out of 1.00 Flag question Question text A landlord's right to re-enter or regain possession of the premises upon expiration of a lease is known as: Select one: A. Redemption B. Reversion C. Remainder D. Recovery Feedback Your answer is correct. (types of ownership) When the landlord leased the property, he gave up his right of possession. Upon termination of the lease agreement, the right of possession REVERTS to the landlord. The correct answer is: Reversion Question 53 Correct 1.00 points out of 1.00 Flag question Question text Boundary markers of land (natural or man-made) are best known as: Select one: A. Benchmarks B. Monuments C. Stakes D. Metes Feedback Your answer is correct. (land characteristics and property descriptions) A monument can be a natural object like a tree, rock, or river. It can also be a permanent, artificial marker like a surveyor's benchmark. However, when used to define the area of a parcel of land, the best choice is "monument" since it covers natural AND man-made boundary markers. The correct answer is: Monuments Question 54 Correct 1.00 points out of 1.00 Flag question Question text An appurtenant easement may be terminated by: Select one: A. Merger of the dominant and servient estates B. Condemnation of the servient estate through eminent domain C. Abandonment by the servient estate D. All of the above Feedback Your answer is correct. (encumbrances) An appurtenant easement could be terminated by merging both estates under one owner, where the owner of the dominant estate releases the easement on the servient estate, or where the owner of the dominant estate does not use the easement for a period of time (determined by statute) with an intent to abandon. If the servient estate is acquired by a government through the right of eminent domain, the easement remains. Abandonment by the servient estate will not terminate an appurtenant easement--abandonment must be by the dominant estate. The correct answer is: Merger of the dominant and servient estates Question 55 Incorrect 0.00 points out of 1.00 Flag question Question text A husband and wife own property as tenants by the entirety. The husband dies, leaving all his property to their son. Which of the following statements is true? Select one: A. The wife owns the property in severalty B. The son is a tenant-in-common with his mother C. The son will automatically inherit the property when his mother dies D. The son has a life estate, pur aure vie Feedback Your answer is incorrect. (types of ownership) Tenancy by the entireties is a form of joint ownership with rights of survivorship. When the husband dies, he CANNOT will his portion to his son; it automatically goes to his wife. The correct answer is: The wife owns the property in severalty Question 56 Incorrect 0.00 points out of 1.00 Flag question Question text What is not a valid method to describe real property? Select one: A. Metes and bounds B. Street address C. Government method of survey D. All of the above are valid methods Feedback Your answer is incorrect. (land characteristics and property descriptions) A street address is NOT a legal method to describe real property because the street name is subject to change. However, while not legally enforceable in a deed, a street address is sufficient to identify property innformally. Note that the question does not ask you to identify LEGAL methods of describing property. The correct answer is: All of the above are valid methods Question 57 Incorrect 0.00 points out of 1.00 Flag question Question text Which of the following items is most likely to be severed? Select one: A. Garden tractor B. Commercial cooler C. Rail fence D. Either B or C Feedback Your answer is incorrect. (classes of property) Severance is the act of removing a fixture. A fixture is an item of real property that was previously considered as personal property. The fence was personal property before it was erected, and became real property when set in the ground. Garden tractors are personal property, but they are not affixed to land. A commercial cooler is real property, but if it is affixed to land, it will most likely be a trade fixture (severance does not apply to trade fixtures). Because only fixtures may be severed, "rail fence" is the best answer. The correct answer is: Rail fence Question 58 Correct 1.00 points out of 1.00 Flag question Question text A metes and bounds survey will most likely identify: Select one: A. Certain encumbrances B. All title defects C. Marketable title D. Liens Feedback Your answer is correct. (land characteristics and property descriptions) A land survey documents the physical characteristics and boundaries of real property. Some encumbrances (like liens and other clouds on title) cannot be discovered by physically inspecting property--they are best discovered by examining title records. However, an encroachment is also an encumbrance, which is a physical intrusion onto land (tresspass or nuisance). A land survey could identify an encroachment like a fence or an out-building. Therefore, of the choices presented, a metes and bounds survey is most likely to discover certain emcumbrances (encroachments). The correct answer is: Certain encumbrances Question 59 Correct 1.00 points out of 1.00 Flag question Question text Of the terms listed below, which do NOT fit together? Select one: A. Survivorship --- Joint tenancy B. Fee simple --- Forever C. Testate --- Escheat D. Tenants-in-Common --- Undivided interest Feedback Your answer is correct. (types of ownership) All items match except "testate" and "escheat." The term testate means that someone died with a will. The term escheat describes the government power to receive property where the owner dies without a will and without any lawful heirs. The correct answer is: Testate --- Escheat Question 60 Correct 1.00 points out of 1.00 Flag question Question text Which of the following items is not an improvement of land? Select one: A. Building B. Sidewalk C. Corn crop D. Flower bed Feedback Your answer is correct. (land characteristics and property descriptions) Improvements refer to the development of land through the construction of valuable additions. Crops are not improvements since they do not improve the value of land (as emblements or fructus industriales, they are owned by the farmer). The correct answer is: Corn crop Question 61 Incorrect 0.00 points out of 1.00 Flag question Question text If a husband and wife own property as tenants-in-common, which of the following statements is true? Select one: A. Either may dispose of their own interest without approval of the other B. Title to the property is in the marital unit C. Both must agree to dispose of their interest D. None of the above statements are true Feedback Your answer is incorrect. (types of ownership) Any tenant-in-common may dispose of his/her own interest without obtaining permission from the other owners. The fact that the owners are husband and wife is irrelevant. The correct answer is: Either may dispose of their own interest without approval of the other Question 62 Correct 1.00 points out of 1.00 Flag question Question text Which phrase best explains why two physically similar parcels of real estate might have very different economic values? Select one: A. The supply of land of earth is fixed B. Land cannot be created or destroyed C. Location, location, location D. Land cannot be moved from one place to another Feedback Your answer is correct. (land characteristics and property descriptions) "Location, location, location" refers to area preference, or situs. Situs is an economic term that refers to people's preference for one area over another, even if it's a similar property. The correct answer is: Location, location, location Question 63 Correct 1.00 points out of 1.00 Flag question Question text Which of the following items would be disclosed by a metes and bounds survey? Select one: A. Easement B. Marketability C. Encroachments D. Both B and C Feedback Your answer is correct. (land characteristics and property descriptions) The survey should definitely reveal any physical encroachments. Meanwhile, easements may not be obvious and would have to be checked in the county records. Once this is checked, they are indicated on the plat that the surveyor prepares. Depreciation is not something the surveyor considers, nor does he consider the marketability of the property. A surveyor is only concerned with the physical characteristics of the property itself. The correct answer is: Encroachments Question 64 Incorrect 0.00 points out of 1.00 Flag question Question text Three people own a piece of property as tenants-in-common. Two of the owners want to sell the property, but the third party does not. The two owners that want to sell: Select one: A. Cannot sell because all three must agree B. May file suit for partition C. May seek detachment D. May sever the third party's interest Feedback Your answer is incorrect. (types of ownership) Joint tenants and tenants-in-common may file suit for partition (a request for a court to divide concurrently owned property). If indivisible, a court might order the sale of the property and then divide the proceeds. The correct answer is: May file suit for partition Question 65 Incorrect 0.00 points out of 1.00 Flag question Question text A datum is most likely to be: Select one: A. A point on the surface of a parcel B. Used in the government survey method of property description C. Used in the metes and bounds method of property description D. A point below the surface of a parcel Feedback Your answer is incorrect. (land characteristics and property descriptions) Note that a datum (singular form of data) is used to develop a legal description of the air rights associated with a property. A datum is the point, line, or surface from which a vertical height or depth is measured in the vertical land description method. The datum is often assigned to the surface of a lot, and distances above or below the datum are described accordingly. The correct answer is: A point on the surface of a parcel Question 66 Correct 1.00 points out of 1.00 Flag question Question text What would most accurately describe an irregularly-shaped parcel of land? Select one: A. Metes and bounds B. Government survey C. Lot, block, and subdivision D. All of the above are equally accurate Feedback Your answer is correct. (land characteristics and property descriptions) Of the choices listed, metes and bounds would most accurately describe an irregularly-shaped parcel of land. The correct answer is: Metes and bounds Question 67 Incorrect 0.00 points out of 1.00 Flag question Question text Mrs. Franklin is buying property from Mr. Akin. In order to get to her property, it is necessary to cross property owned by Mr. Travis. In the past, Mr. Travis had granted permission to Mr. Akin for this purpose. Mrs. Franklin wants to protect this privilege. What would best serve Mrs. Franklin's interests? Select one: A. An easement in gross B. A license C. An appurtenant easement D. Either A or C Feedback Your answer is incorrect. (encumbrances) Mrs. Franklin should ask for an easement from Mr. Travis. The easement could be an appurtenant easement or an easement in gross. Both would give Mrs. Franklin the RIGHT to cross the property. However, an appurtenant easement would transfer to other property owners and survive the death of either owner. An easement in gross would not serve Mrs. Franklin as well as an easement appurtenant because the easement in gross would not survive the death of Mr. Travis. A license would not serve Mrs. Franklin well because it is revocable at the will of Mr. Travis. Therefore, an easement appurtenant would BEST serve Mrs. Franklin. The correct answer is: An appurtenant easement Question 68 Correct 1.00 points out of 1.00 Flag question Question text Harry hired a contractor to paint the interior and exterior of his rental property. Harry did not pay, and the contractor filed a mechanics lien. Which of the following statements is true regarding the lien? Select one: A. The lien can only be for the cost of the material used B. The lien applies to all of Harry's real property C. The lien applies to all Harry's real and rental property D. The lien only applies to Harry's rental property Feedback Your answer is correct. (encumbrances) A mechanics lien only applies to the real property that was improved (in this instance, painted). Further, the lien can only apply to the cost of materials and labor. The correct answer is: The lien only applies to Harry's rental property Question 69 Incorrect 0.00 points out of 1.00 Flag question Question text Which of the following properties may be classified as commercial? Select one: A. Apartment buildings B. Vacant lots C. Parking lots D. All of the above Feedback Your answer is incorrect. (classes of property) Commercial property includes apartment buildings, parking lots, and vacant lots or tracts of land that are suitable and available for a commercial construction. The correct answer is: All of the above Question 70 Incorrect 0.00 points out of 1.00 Flag question Question text Former personal property that automatically conveys: Select one: A. Is a trade fixture B. Is a fixture C. Is chattel D. Occurs only by agreement Feedback Your answer is incorrect. (classes of property) When personal property is affixed or attached to land, it can become real property that will convey with the land. This is referred to as a fixture. Trade fixtures are also personal property that can be attached to land. However, trade fixtures are installed by a tenant in connection with her trade or business. Trade fixtures do not become real property, so long as they are timely removed. Chattel is another name for personal property, which may or may not transfer with land. The correct answer is: Is a fixture Question 71 Incorrect 0.00 points out of 1.00 Flag question Question text Which method of legally property description relies on range lines? Select one: A. Vertical B. Lot, block, an subdivision C. Rectangular D. Monument Feedback Your answer is incorrect. (land characteristics and property descriptions) The rectangular method (government survey) uses range lines, which are north-south lines in a township. The correct answer is: Rectangular Question 72 Incorrect 0.00 points out of 1.00 Flag question Question text Jones, Smith, and Williams own property as joint tenants. Which of the following statements must be true? Select one: A. If Jones and Smith die, Williams will own the property as a joint tenant with the heirs of Jones and Smith B. If Jones dies, Smith and Williams will own the property as tenants-in-common C. If Jones and Smith die, Williams will own the property in severalty D. If any one of the owners die, the property goes to the heirs of the deceased owner Feedback Your answer is incorrect. (types of ownership) Property held by joint tenants includes rights of survivorship. That is, only the surviving joint tenants continue to own the property. If only one joint tenant remains alive, he owns the property in severalty. The correct answer is: If Jones and Smith die, Williams will own the property in severalty Question 73 Incorrect 0.00 points out of 1.00 Flag question Question text How can the extent of an encroachment always be discovered? Select one: A. Physical observation B. Land survey C. Title search D. Quitcalm deed Feedback Your answer is incorrect. (encumbrances) A land survey (performed by a professional surveyor) documents property boundaries. A competent surveyor will find and document any physical encroachments. The correct answer is: Land survey Question 74 Incorrect 0.00 points out of 1.00 Flag question Question text Once created and properly recorded, may a subdivision plat be altered? Select one: A. No, because all descriptions will retain the historical reference to the original subdivision B. Yes, so long as new plats are created and recorded which reflect the changes to the original plat C. No, because a change would render all prior descriptions from the original plat as invalid D. Yes, so long as permission is obtained from the local zoning board Feedback Your answer is incorrect. (land characteristics and property descriptions) Subdivisions may be further subdivided or altered after the initial plat is recorded. This requires creating and recording new plats. If this occurs, the legal description may need to refer to all of the plats reflecting the history of the description of the parcel at issue. The correct answer is: Yes, so long as new plats are created and recorded which reflect the changes to the original plat Question 75 Correct 1.00 points out of 1.00 Flag question Question text A person enters into a lease agreement for 1 year. At the end of a year, the lease expires, but the tenant does not vacate the property. The tenant would be considered a: Select one: A. Periodic tenant, because the lease automatically renews B. Tenant at will, because no additional time period was specified C. Tenant at sufferance, because the tenant is breaking the law D. Freehold tenant, because the landlord failed to act Feedback Your answer is correct. (types of ownership) A tenant at sufference is a person who remains on the property after his lease expires. The tenant at sufferance only exists where a tenant's lawful rights to occupy the premises have expired. This estate is the lowest and most encumbered estate that exists. The correct answer is: Tenant at sufferance, because the tenant is breaking the law Question 76 Incorrect 0.00 points out of 1.00 Flag question Question text Which definition is described as a trespass on an improvement? Select one: A. An easement B. A license C. An encroachment D. None of the above Feedback Your answer is incorrect. (encumbrances) To trespass is to be somewhere without the owner's permission. If an improvement encroaches over the property line, it is a trespass. The correct answer is: An encroachment Question 77 Incorrect 0.00 points out of 1.00 Flag question Question text Mary purchased the right to use an apartment for 2 weeks every year. This is an example of: Select one: A. Interval ownership B. Ownership as a joint tenant C. Cooperative ownership D. A limited partnership Feedback Your answer is incorrect. (types of ownership) Interval ownership (time-share) involves ownership for only a particular time period. Purchasers own the property as tenants-in-common, and rotate possession (use) of the property as agreed upon previously. Time share ownership is most commonly seen in vacation properties. The correct answer is: Interval ownership Question 78 Correct 1.00 points out of 1.00 Flag question Question text Harry Homeowner takes pride in his property and keeps it well maintained (inside and outside of the home). However, Harry's neighbors are not so conscientious. What concept best explains why Harry's home is losing value? Select one: A. Immobility B. Uniqueness C. Scarcity D. Situs Feedback Your answer is correct. (land characteristics and property descriptions) We do not know if Harry's location is preferential or not. However, due to immobility, the value of a piece of real property is directly affected by its external surroundings. Therefore, a well maintained home will lose value if the neighborhood around it declines. The correct answer is: Immobility Question 79 Incorrect 0.00 points out of 1.00 Flag question Question text Three people inherit unequal shares of a single piece of property. How could they hold ownership? Select one: A. As tenants in severalty B. As tenants-in-common C. As joint tenants D. Either B or C Feedback Your answer is incorrect. (types of ownership) First, recognize that all 3 inherit a single piece of property. Now, recognize that the problem does not state that they received an equal interest, which is mandatory for a joint tenancy. Ownership in severalty is ownership by one person only. The law provides that when there is co-ownership (more than one owner), title will default to tenants-in-common unless the deed is specific as to some other form of ownership. The correct answer is: As tenants-in-common Question 80 Correct 1.00 points out of 1.00 Flag question Question text A condominium association can most likely perform all of the following actions, EXCEPT: Select one: A. Elect a Board of Directors B. Interview prospective buyers C. Award contracts to tradesmen D. Assess a fee to unit owners in order to cover maintenance and repairs Feedback Your answer is correct. (types of ownership) The condominium association usually elects a Board of Directors to run the condominium. Prospective buyers purchase condominiums directly from individual owners, usually without being interviewed by the condominium association. The correct answer is: Interview prospective buyers Question 81 Correct 1.00 points out of 1.00 Flag question Question text Tommy the Tenant takes over a tattoo parlor from an existing tenant. The parlor came with a comfortable dentist chair, which was perfect for people to sit on while getting their tattoo. One day, the chair breaks. Tommy installs a new dentist chair that he picked up at a flea market. The new chair is: Select one: A. Personal property, regardless of when it is removed B. Real property, if not timely removed C. Personal property, so long as it is timely removed D. Real property, regardless of when it is removed Feedback Your answer is correct. (land characteristics and property descriptions) This one is tricky. The issue is whether the chair is a trade fixture or a replacement fixture. Replacement fixtures are improvements that are installed by a tenant to replace worn out items that were already in place before the start of the lease. Replacement fixtures are classified as real property and belong to the owner. Because Tommy is merely replacing the chair. it is not a trade fixture, but merely a replacement fixture. Therefore, the chair is real property regardless of when or if it is removed (and Tommy cannot remove it without the owner's permission). The correct answer is: Real property, regardless of when it is removed Question 82 Incorrect 0.00 points out of 1.00 Flag question Question text A cooperative owner has exclusive use of her unit by reason of: Select one: A. General partnership B. Property lease C. Fee simple title D. License Feedback Your answer is incorrect. (types of ownership) Cooperatives are a form of ownership composed of single units in a multi-unit development. The title to land and improvements is held by a business entity (corporation). A purchaser receives stock in the business entity and takes a proprietary lease, which provides for exclusive use of a specified unit. The correct answer is: Property lease Question 83 Correct 1.00 points out of 1.00 Flag question Question text The right of one party to possess and use real property exclusive of others is: Select one: A. Hypothecation B. Partition C. Ownership D. All of the above Feedback Your answer is correct. (classes of property) Ownership is the right to possess and use property exclusive of others. This is a textbook definition of the term. The correct answer is: Ownership Question 84 Correct 1.00 points out of 1.00 Flag question Question text What is NOT considered to be a legal description of property? Select one: A. Metes and bounds B. Lot and block C. Rectangular survey system D. Taxpayer federal ID number Feedback Your answer is correct. (land characteristics and property descriptions) All choices are valid methods of legal description, except for a taxpayer's federal identification number. The correct answer is: Taxpayer federal ID number Question 85 Incorrect 0.00 points out of 1.00 Flag question Question text The original owner of a condominium unit holds which of the following interests? Select one: A. Fee simple absolute in the unit B. Joint tenancy in the common areas C. Joint tenancy in the common walls D. All of the above Feedback Your answer is incorrect. (types of ownership) All original condominium owners have fee simple absolute title (ownership) in their individual living unit. Consistent with the condominium form of ownership, all original and subsequent condominium owners have a tenancy in common in the common areas of the project. The correct answer is: Fee simple absolute in the unit Question 86 Incorrect 0.00 points out of 1.00 Flag question Question text Smith and Brown own abutting property that borders a river. Over the years, soil from Smith's riverbank is washed onto Brown's riverbank. Who owns the soil that was washed from Smith's riverbank to Brown's? Select one: A. Smith B. Brown C. The state D. None of the above, because all river bank owners have riparian rights Feedback Your answer is incorrect. (land characteristics and property descriptions) Accretion occurs where natural forces such as water cause land to move from one parcel to another. Once moved, it belongs to the receiving property owner. The correct answer is: Brown Question 87 Incorrect 0.00 points out of 1.00 Flag question Question text Zorba leases a restaurant. He installs ovens, booths, and counters. Which of the following statements is true? Select one: A. The ovens, booths, and counters cannot be removed by Zorba B. The ovens, booths, and counters can be removed by Zorba at any time C. The ovens, booths, and counters can be removed by Zorba at any time before Zorba's lease expires D. Zorba is not responsible for any damage caused by removing the ovens, booths, and counters Feedback Your answer is incorrect. (classes of property) Items used in a trade are trade fixtures, and are the personal property of the tenant regardless of whether they are attached to land. They may be removed before the lease expires, but any damage to the real property caused by the removal must be repaired. If not removed before expiration of the lease, they become the property of the owner.

Farmer Pete leases land to grow wheat. In April, Farmer Pete plants his crop, expecting to harvest in October. However, just before harvest time, his landlord successfully evicts him for nonpayment of rent. In October, Farmer Pete attempts to harvest his wheat. The wheat belongs to: Select one: A. The landlord, because Farmer Pete is no longer in possession of the property B. Farmer Pete, but he cannot re-enter the property without the landlord's permission C. Farmer Pete, because it is personal property D. The landlord, because the crops are affixed to the land

If a man is considered a "proprietary tenant," he is most likely owns interest in which of the following types of property? Select one: A. Condominium apartment B. Apartment house C. Cooperative apartment D. Office building

Industrial property includes all of the following uses except: Select one: A. Mines B. Warehouses C. Ranches D. Vacant lots

Jones, Smith, and Williams own property as joint tenants. Which of the following statements must be true? Select one: A. If Jones and Smith die, Williams will own the property as a joint tenant with the heirs of Jones and Smith B. If Jones dies, Smith and Williams will own the property as tenants-in-common C. If Jones and Smith die, Williams will own the property in severalty D. If any one of the owners die, the property goes to the heirs of the deceased owner Feedback Your answer is incorrect. (types of ownership) Property held by joint tenants includes rights of survivorship. That is, only the surviving joint tenants continue to own the property. If only one joint tenant remains alive, he owns the property in severalty.

Land moves by: Select one: A. Accretion B. Erosion C. Both A and B D. None of the above because land is immobile Feedback Your answer is incorrect. (land characteristics & property descriptions) Accretion happens when soil is washed away by flowing water and deposited elsewhere. Erosion is a natural process that causes a portion of land (soil) to move. Both cause a portion of land to move.

Mary has a life estate and her daughter has been named as the remainderman. Mary leases the property to Susan for 5 years. One year later, Mary dies. Mary's daughter serves notice to Susan to vacate the property. Which of the following statements is correct? Select one: A. The lease is valid for four more years because it is Susan's personal property B. The lease was invalid from the beginning because a life tenant may not commit waste C. The lease was valid only during Mary's lifetime because it was one of the sticks in the bundle D. The lease is invalid because it violates the statute of frauds

Mrs. Franklin is buying property from Mr. Akin. In order to get to her property, it is necessary to cross property owned by Mr. Travis. In the past, Mr. Travis had granted permission to Mr. Akin for this purpose. Mrs. Franklin wants to protect this privilege. What would best serve Mrs. Franklin's interests? Select one: A. An easement in gross B. A license C. An appurtenant easement D. Either A or C Feedback Your answer is incorrect. (encumbrances) Mrs. Franklin should ask for an easement from Mr. Travis. The easement could be an appurtenant easement or an easement in gross. Both would give Mrs. Franklin the RIGHT to cross the property. However, an appurtenant easement would transfer to other property owners and survive the death of either owner. An easement in gross would not serve Mrs. Franklin as well as an easement appurtenant because the easement in gross would not survive the death of Mr. Travis. A license would not serve Mrs. Franklin well because it is revocable at the will of Mr. Travis. Therefore, an easement appurtenant would BEST serve Mrs. Franklin.

Of the terms listed below, which do NOT fit together? Select one: A. Survivorship --- Joint tenancy B. Fee simple --- Forever C. Testate --- Escheat D. Tenants-in-Common --- Undivided interest

Sam dies and leaves a valid will. Sam leaves the family farm to his children after the death of his wife, Jane. Several years after Sam's death, Jane sells her interest to Larry. Which of the following statements is true? Select one: A. Larry has no interest, but may cancel the contract due to Jane's fraud B. Larry has no interest because Jane did not get the children's permission to sell the farm C. Larry has a life estate pur autre vie D. None of the above

The land description that uses a recorded subdivision plat is the: Select one: A. Geodetic survey method B. Rectangular survey system C. Lot and block system D. Metes and bounds survey method

The right of one party to possess and use real property exclusive of others is: Select one: A. Hypothecation B. Partition C. Ownership D. All of the above

The unity that exists in both a tenancy in common and a joint tenancy is: Select one: A. Time B. Title C. Possession D. None of the above

Which definition is described as a trespass on an improvement? Select one: A. An easement B. A license C. An encroachment D. None of the above Feedback Your answer is incorrect. (encumbrances) To trespass is to be somewhere without the owner's permission. If an improvement encroaches over the property line, it is a trespass.

Which legal instrument could convey a tenancy for years? Select one: A. Deed B. Land contract C. Lease D. Either B or C Feedback Your answer is incorrect. (leaseholds) A lease is the instrument of conveyance because a tenancy for years (or estate for years) is a type of leasehol

Which method of legally property description relies on range lines? Select one: A. Vertical B. Lot, block, an subdivision C. Rectangular D. Monument Feedback Your answer is incorrect. (land characteristics and property descriptions) The rectangular method (government survey) uses range lines, which are north-south lines in a township.

Which of the following circumstances would diminish a fee simple estate? Select one: A. Death of the owner B. Sale of the property C. Rental of the property D. All of the above Feedback Your answer is incorrect. (types of ownership) If the owner dies or sells property, he has nothing to diminish. If the owner rents his property, he gives up his right of possession, thereby reducing his rights of ownership.

Which of the following items is most likely to be severed? Select one: A. Garden tractor B. Commercial cooler C. Rail fence D. Either B or C (classes of property) Severance is the act of removing a fixture. A fixture is an item of real property that was previously considered as personal property. The fence was personal property before it was erected, and became real property when set in the ground. Garden tractors are personal property, but they are not affixed to land. A commercial cooler is real property, but if it is affixed to land, it will most likely be a trade fixture (severance does not apply to trade fixtures). Because only fixtures may be severed,

Which of the following items is not an improvement of land? Select one: A. Building B. Sidewalk C. Corn crop D. Flower bed

Which of the following items would be disclosed by a metes and bounds survey? Select one: A. Easement B. Marketability C. Encroachments D. Both B and C

Which phrase best explains why two physically similar parcels of real estate might have very different economic values? Select one: A. The supply of land of earth is fixed B. Land cannot be created or destroyed C. Location, location, location D. Land cannot be moved from one place to another

A condominium could be which of the following descriptions? Select one: A. Multi-story building B. Townhouse community C. Industrial office park D. Any of the above Feedback Your answer is incorrect. (types of ownership) We commonly think of a condo as an apartment-style building. However, condominium type ownership can be created anywhere, for any type of property. Some residential neighborhoods (consisting of only single-family homes) are under condominium rules and regulations. Each person owns their own home, but shares an interest in common elements like playgrounds, swimming pools, etc. Industrial property COULD be created as a condominium; the tenants would own their own buildings and share ownership in drive ways and parking facilities.

A datum is most likely to be: Select one: A. A point on the surface of a parcel B. Used in the government survey method of property description C. Used in the metes and bounds method of property description D. A point below the surface of a parcel Feedback Your answer is incorrect. (land characteristics and property descriptions) Note that a datum (singular form of data) is used to develop a legal description of the air rights associated with a property. A datum is the point, line, or surface from which a vertical height or depth is measured in the vertical land description method. The datum is often assigned to the surface of a lot, and distances above or below the datum are described accordingly.

A tenant and landlord enter into a six month lease on July 1, 2016, to expire on December 31, 2016. Which of the following statements is correct? Select one: A. The landlord must serve notice to quit at least 30 days before expiration or the lease will renew B. The tenant must serve notice to quit at least 30 days before expiration or the lease will renew C. If neither party provides proper notice to quit, the lease will renew for another 6 months D. The lease will terminate on December 31, 2016

A woman owns an apartment building that is losing money. Her accountant tells her that she could make a profit if she sells the apartment units as condominiums. Which document must she record or provide? Select one: A. Condominium instruments B. PUD C. POS D. Both A and C

All of the following statements are true about land, except: Select one: A. Land exists forever B. Real estate is immobile C. Land cannot be insured D. Land may be depreciated

Harry hired a contractor to paint the interior and exterior of his rental property. Harry did not pay, and the contractor filed a mechanics lien. Which of the following statements is true regarding the lien? Select one: A. The lien can only be for the cost of the material used B. The lien applies to all of Harry's real property C. The lien applies to all Harry's real and rental property D. The lien only applies to Harry's rental property

How can an appurtenant easement be terminated? Select one: A. If the easement is released by the dominant estate B. If the dominant estate owner dies C. If the necessity no longer exists D. Either A or C

Land is insurable primarily because of its: Select one: A. Uniqueness B. Indestructibility C. Improvement D. None of the above

Mr. Foster owns an automobile, a boat, a house, and a farm. He defaults on the mortgage covering his house. If a judgment lien is entered, which of the following properties could be subject to the judgment lien? Select one: A. Car B. Boat C. Home D. All of the above

The right or privilege that one has to use the property of another is: Select one: A. A license B. A lease C. An easement D. All of the above

To have any legal affect, plats drawn from the lot, block, and subdivision method must: Select one: A. Include a plat B. Be pre-approved by the country or city before recordation C. Be recorded D. All of the above

Tommy the Tenant takes over a tattoo parlor from an existing tenant. The parlor came with a comfortable dentist chair, which was perfect for people to sit on while getting their tattoo. One day, the chair breaks. Tommy installs a new dentist chair that he picked up at a flea market. The new chair is: Select one: A. Personal property, regardless of when it is removed B. Real property, if not timely removed C. Personal property, so long as it is timely removed D. Real property, regardless of when it is removed

What is NOT considered to be a legal description of property? Select one: A. Metes and bounds B. Lot and block C. Rectangular survey system D. Taxpayer federal ID number

What is not a valid method to describe real property? Select one: A. Metes and bounds B. Street address C. Government method of survey D. All of the above are valid methods

When a metes and bounds survey is used to describe property, the word "metes" refers to: Select one: A. Monuments B. Areas twenty-four miles square C. Parallel lines that run north and south D. The length in inches, feet, or yards of a property line Feedback Your answer is incorrect. (land characteristics & property descriptions) Metes is the length of a property line in inches, feet, yards, rods, or any linear measurement. Bounds are the monuments used to identify the boundary of the property.

Which item is personal property? Select one: A. Apartment lease B. Business reputation C. Tool shed attached to the brick foundation D. Both A and B

Which of the following items is not personal property? Select one: A. A lease B. A mortgage that secures personal property C. Partnership interests D. An easement

Which of the following properties may be classified as commercial? Select one: A. Apartment buildings B. Vacant lots C. Parking lots D. All of the above Feedback Your answer is incorrect. (classes of property) Commercial property includes apartment buildings, parking lots, and vacant lots or tracts of land that are suitable and available for a commercial construction.

Which real property right automatically conveys? Select one: A. Surface rights B. Subsurface rights C. Control D. All of the above

Virginia - Principles and Practices of Real Estate

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