Real estate Chapter 2

The diversity of California's population and economy makes the state unique compared to the rest of the country. Which statistic shows the greatest disparity between the state and the nation?

(a)Home values

Which of the following has had the LEAST influence on California history and the real estate market? (a)Natural hazards; (b)Cultural forces; (c)Political forces; (d)Economic forces

(a)Natural hazards

A system providing for surveying and describing land by reference to principal meridians and base lines is known as the

(a)rectangular survey system.

The S 1/2 of the NW 1/4 of the SE 1/4 contains

(b)20 acres. Go backwards: (1)Find the SE 1/4. (2)Find the NW 1/4 of the first area. (3)Find the S 1/2 of the second area. This area contains 20 acres.

While ownership of real property is usually transferred by deed, ownership of personal property usually is transferred by

(b)bill of sale.

A method of land description where each parcel in a subdivision is identified by tract, lot, and block numbers is called

(b)lot and block.

California real estate law originated from

(c)English common law.

Spanish settlement of California began with the establishment of

(c)Missions.

Among the principles involved in the "Bundle of Rights" is the right to

(c)Possession, use, enjoy, exclude others, dispose, (PUEED) i.e.: 1. Right of Possession 2. Right to control the property's Use 3. Right to Enjoyment of the property 4. Right to Exclude others from the property 5. Right to Dispose of the property

Which of the following events is arguably the most important single event with respect to the exploration and settlement of the western frontier and California?

(c)The discovery of gold at Sutter's Mill

All of the following are factors considered when determining whether an item of personal property has become real property, EXCEPT: (a)agreement between the parties; (b)method of attachment; (c)cost of the article; (d)relationship of the parties.

(c)cost of the article. Fixtures are items of personal property which have become attached to real property, thus becoming real property. The five tests of a fixture are: Method of attachment, Agreement of the parties, Relationship of the parties, Intention of the person attaching it, Adaptability of the item. Study Aid: MARIA

The classical definition of property ownership is ownership of

(c)everything below the property in the shape of an inverted pyramid with its apex at the center of the earth and infinite airspace.

A section (of the rectangular survey system) contains ____ acres.

(d)640 (or one square mile)

Using only a street address to identify real estate can be problematic because

(d)All of the above: rural, undeveloped land may not have a street address; street names may change; & a driveway may be moved.

Which of the following is NOT appurtenant to real estate?

(d)Trade fixtures

A large, densely populated metropolitan area, consisting of a number of major urban areas is referred to as a(n)

(d)megalopolis.

The rights of a landowner whose property line touches on a river or other flowing stream are called

(d)riparian rights.

QUIZ 10: How many sections are in a township?

36

QUIZ 9: The rectangular survey system is also known as the

U.S. government survey system.

QUIZ 4: Real property includes: (a)land; (b)appurtenances to land; (c)fixtures; (d)all of these.

all of these: land, appurtenances to land, & fixtures.

QUIZ 5: Something that is used with the land for its benefit, such as a roadway or a waterway, is known as

an appurtenance

QUIZ 7: Personal property is usually transferred by a

bill of sale

QUIZ 8: There are three principal baselines and meridians in California. The intersection of the Humbold Baseline and Meridian is in

northern California

QUIZ 1: Under Spanish rule, land was owned primarily by the

king

QUIZ 6: The test for a fixture does NOT include (a)origin of manufacture; (b)method of attachment; (c)intent of the parties; (d)relationship of the parties

origin of manufacture

QUIZ 3: Today, more than 50 percent of California is owned by the

private sector

QUIZ 2: The term real estate means the same thing as

real property