Real Estate course #3 Quiz 1-4

Property law only covers real property, not personal property...?

(False)

During ............, a neutral third party listens to each party's position and makes a final, binding decision?

Arbitration

Law that is derived from court decisions is known as...?

Common Law

Property acquired by a husband and/or wife during a marriage, when not acquired as the separate property of either spouse is known as...?

Community Property

A utility easement is an example of a/an...?

Easement in gross

An estate arising when the tenant wrongfully holds over after the expiration of the term is known as a/an...?

Estate at sufferance

An estate which vests after the termination of the prior estate is known as a/an...?

Estate in remainder

Property or estate ownership that reverts back to the grantor after a temporary ownership period is known as a/an...?

Estate in reversion

An easement created by a deed or by a will is known as a/an...

Express easement

An easement may be terminated by which of the following means...?

Express termination Termination by estoppel Termination by prescription D) All of the above

A decision made in mediation is never binding...?

False

An owner who is subject to eminent domain does not have to be fairly compensated by the government...?

False

Which of the following improvements are considered part of the real estate...?

Houses Fences Sheds D) All of the above

Which of the following is a Principal Meridian line that runs through California...?

Humboldt meridian Mount Diablo meridian San Bernardino meridian D) All of the above

This refers to a writ or order issued under the seal of a court to restrain one or more parties to a suit or proceeding from doing an act which is deemed to be inequitable or unjust in regard to the rights of some other party or parties in the suit or proceeding...?

Injunction

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

Involuntary lien

A tenancy in common can be terminated through...?

Partition

Land, and generally whatever is erected upon the land, is referred to as...?

Real Estate

The California trial court system consists of small claims court and...?

Superior court

A leasehold estate is an example of a non-freehold estate...?

T (True)

Real property sales contracts in California must be in writing...?

T (True)

A life estate is a non-inheritable estate...?

TRUE

A mortgage lien is an example of a voluntary lien...?

TRUE

An owner in a tenancy in common can sell their share of ownership in the property without the consent of the other owners...?

TRUE

Which of the following is an example of an involuntary lien...?

Tax lien Mechanic's lien Judgment lien D) All of the above

Which of the following costs are shared among the owners in a tenancy in common...?

Taxes Expenses Insurance D) All of the above

Which of the following exists without a contract or lease, and is unspecific in duration or the exchange of payment...?

Tenancy at will

A fixture test takes into account which of the following...?

The method of attachment The intention of the parties Adaptation to the property D) All of the above

What is the distinguishing factor between a tenancy in common and a joint tenancy...?

The right of survivorship

Which of the following is an example of a tenancy in common...?

Time-share

A territorial subdivision six miles long, six miles wide and containing 36 sections, each one mile square, located between two range lines and two township lines is known as a...?

Township

Articles of personal property annexed by a business tenant to real property which are necessary to the carrying on of a trade and are removable by the tenant are known as...?

Trade Fixtures

The intention of the law is to establish order and to enforce promises...?

True

The legal requirement that the state must respect all legal rights that are owed to a person is known as...?

Due Process

There are 4 principal meridian lines that run through California...

False

This is an inheritable estate in land providing the greatest interest of any form of title...?

Fee simple absolute

This is a form of encumbrance which usually makes specific property security for the payment of a debt or discharge of an obligation...?

Lien

Land encumbered by an easement is referred to as the...?

Servient tenement

An action to compel performance of an agreement is known as...?

Specific Performance

English common law served as a foundation for modern law...?

True

A monument used to establish the elevation of a point, usually relative to Mean Sea Level, but often to some local datum is known as a...?

Bench Mark

The land benefiting from an easement is known as the...?

Dominant tenement

A right, privilege or interest limited to a specific purpose which one party has in the land of another is referred to as a/an...?

Easement

This exists when a landowner has no access to roads and is landlocked...?

Easement by necessity

The crops and other annual plantings considered to be personal property of the cultivator are referred to as...?

Emblements

The right of the government to acquire property for necessary public or quasi-public use by condition is known as...?

Eminent Domain

Easements do not run with the land...?

False

Real estate agents should advise their clients as to how to hold title...?

False

Riparian rights may be lost for non-use by the owner...?

False

Appurtenances attached to land or improvements, which usually cannot be removed without agreement as they become real property, are known as...?

Fixtures

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

Freehold estate

Which of the following is a method of specifying the location of a parcel of land using prime meridians, base lines, standard parallels, guide meridians, townships and sections...?

Government Survey

Which of the following is a means of describing real property...?

Government Surveys Metes and Bounds Lot and Block All of the above

Which of the following provides the right of possession and control but not title...?

Leasehold estate

Which of the following contracts are not required to be in writing...?

Leases under 1 year

A person to whom property is rented under a lease is referred to as the...?

Lessee

One who rents property to another under a lease is known as the...?

Lessor

A freehold estate created for the duration of the life or lives of certain named persons is known as a/an

Life estate

The right of a property owner whose land borders on a body of water, such as a lake, ocean or sea, to reasonable use and enjoyment of the shore and water the property borders on is known as...?

Littoral Rights

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

Imaginary north-south lines which intersect base lines to form a starting point for the measurement of land are known as...?

Principal meridians

Which of the following equals real estate plus the bundle of rights...?

Real property

The right of a landowner whose land borders on a stream or watercourse to use and enjoy the water which is adjacent to or flows over the owner's land is known as...

Riparian Rights

A lien that attaches to one specific property only is known as a/an...?

Specific lien

The legal principle of determining points in litigation according to precedent is known as...?

Stare Decisis

A state law requiring certain contracts to be in writing and signed before they will be enforceable at law is known as the...?

Statute of Frauds

A statute prescribing a period of limitation for the bringing of certain kinds of legal action is known as...?

Statute of Limitations

In California, there is a 3 year statute of limitations for real property contracts...?

TRUE

This is a legal device whereby one person transfers ownership of property to someone else to hold or manage for the benefit of a third party...?

Trust

Any wrongful act (not involving a breach of contract) for which a civil section will lie for the person wronged is referred to as...?

tort

This type of property description is often the least accurate...?

Metes and Bounds

Title to real property held in the name of only one person is known as...?

Ownership in severalty

An estate from year to year is also known as...?

Periodic tenancy

Which of the following is an example of a fixture...?

Plumbing fixture

The sale of land as an alternative to damages is an example of...?

Specific Performance

A tenancy in common must include which of the following...?

Unity of Possession

The purpose of this court is to correct a mistake made in a lower court judgment...?

Appellate Court

Trees and plants growing on a property are considered...?

Attachments

Common law is derived from Spanish law...?

False

A lien on all the property of a debtor is known as a/an...?

General Lien

A form of alternative dispute resolution in which the parties to a lawsuit meet with a neutral third-party in an effort to settle the case is known as...?

Mediation

A lease that automatically renews for successive periods unless terminated by either party is known as a...?

Periodic tenancy

All property that is not considered to be real property is referred to as...?

Personal proerty

That which is immovable is generally known as...?

Real Property

Oil and natural gas are considered mineral rights...?

True

The division of an area into zones, as to restrict the number and types of buildings and their uses is known as...?

Zoning

Which of the following describes the boundary lines of land, seeing forth all the boundary lines together with their terminal points and angles...?

Metes and Bounds

A landowner's right to receive a portion of the profits of any minerals that are extracted from the land are known as...?

Mineral Rights

This comprises of the rules by which a court hears and determines what happens in civil lawsuit, criminal or administrative proceedings...?

Procedural Law

The statutory, or written law, that defines rights and duties, such as crimes and punishments, civil rights and responsibilities in civil law is known as...?

Substantive Law

Involuntary liens are also known as statutory liens...?

TRUE

Personal property is also known as chattel...?

TRUE

Personal property is generally referred to as that which is movable...?

TRUE

Unless specified otherwise, ownership in a tenancy in common is shared equally between the owners...?

TRUE

The system of law concerned with private relations between members of a community rather than criminal, military, or religious affairs is known as...?

Civil Law

Property acquired by husband and/or wife during a marriage when not acquired as the separate property of either spouse is known as...?

Community property

The rights in real property to the reasonable use of the air space above the surface of the land are known as...?

Air rights

A series of government survey lines running north and south at six-mile intervals starting with the principal meridian and forming the east and west boundaries of townships are known as...?

Base Lines

Imaginary east-west lines which intersect meridian lines to form a starting point for the measurement of land are known as...?

Base lines

The basic rules establishing the rights and obligations of owners of real property within a subdivision are known as...?

CC&Rs