Chapter 4 - Ownership Rights and Limitations Practice Questions

A lead-based paint disclosure is required for all buildings built prior to...?

1978

Which of the following can force a judgment against an owner's property, even if the owner is protected as a homestead...?

A mortgage lender

A fibrous mineral found in many building materials that when improperly disturbed, can cause serious lung diseases is known as...?

Asbestos

Taking private property for public use, with fair compensation to the owner is known as...?

Condemnation

A right of the government to acquire property for necessary public use by condemnation is known as...?

Eminent domain

A claim, charge, or liability that attaches to, and is binding on real estate is referred to as a/an...?

Encumbrance

An inheritable estate in land providing the greatest interest of any form of title is known as...?

Fee simple absolute

An estate that will end automatically when the stated event or condition occurs is referred to as a...?

Fee simple determinable

Absolute ownership of real property is known as a/an...?

Fee simple estate

An estate of indeterminable duration is referred to as a/an...?

Freehold estate

A legal life estate in land that is owned and occupied as a family home is known as a...?

Homestead

A lien imposed against property without consent of an owner is referred to as a/an...?

Involuntary lien

A claim against a property that provides security for the repayment of a debt or an obligation of the property owner is known as a/an...?

Lien

A specific lien that gives security to persons or companies who perform labor or furnish material to improve real property is known as a...?

Mechanic's lien

The right of any political body to enact laws and enforce them, for the order, safety, health, morals and general welfare of the public is known as...?

Police power

A person who inherits or is entitled to inherit property upon the termination of the estate of the former owner is known as a...?

Remainderman

An encumbrance against a property filed by the taxing jurisdiction for delinquency in paying real property taxes is known as a...?

Tax lien

A charge on real estate to raise funds to meet public needs is known as...?

Taxation

Any lien placed on property with consent of, or as a result of, the voluntary act of the owner is referred to as a/an...?

Voluntary lien