Chapter 2: Property Rights Video and Required Reading

If a property abuts a navigable river, where is the boundary of the property? A. At the water's edge. B. At the high water mark. C. At the midpoint of the river. D. At the flood marker.

A. At the water's edge.

The "bundle of rights" refers to a set of rights: A. enjoyed by the owner of a property. B. that is inseparable from a parcel of real estate. C. guaranteed to citizens by the Declaration of Independence. D. specified in a deed or land contract.

A. enjoyed by the owner of a property.

"Real estate" includes such things as: A. fences, sidewalks, and piers on a parcel of land. B. mobile homes temporarily parked on a parcel of land. C. timber that has been cut and is lying on a parcel of land. D. business equipment an owner or tenant has placed on a parcel of land.

A. fences, sidewalks, and piers on a parcel of land.

If littoral rights attach to a property, the property extends to: A. the high water mark of the body of water. B. the low water mark of the body of water. C. the center line of the body of water. D. the property line of a property that also has littoral rights on the opposite side of the body of water.

A. the high water mark of the body of water.

Even though it is attached to a structure, an item may be considered personal property rather than real property if: A. the owner originally intended to remove it after a period of time. B. it can be removed without altering the appearance of the structure. C. it is unnecessary to the physical integrity of the structure. D. the owner installed it at some time after acquiring the real property.

A. the owner originally intended to remove it after a period of time.

A lease is an example of a(n): A. transfer of a portion of the bundle of rights. B. encroachment on the bundle of rights. C. transfer of the complete bundle of rights. D. transfer of surface rights.

A. transfer of a portion of the bundle of rights.

What is a "fixture?" A. Any item of personal property located within the boundaries of a parcel of real estate. B. An item of personal property that has been converted to real property. C. An item of real property temporarily placed on land for the purpose of conducting a business. D. An item of personal property that has been left in one location for a period of one year.

B. An item of personal property that has been converted to real property.

By definition, personal property: A. includes real property. B. is any property that is not real property. C. is any property owned by an individual. D. is real property that is not attached to real estate

B. is any property that is not real property.

The physical limits of land are: A. the surface of the earth and infinite space above the surface. B. the center of the earth and infinite space above the earth. C. the surface of the earth and all water and minerals on or below the surface to the center of the earth. D. the surface of the earth and the air rights above the surface to the point defined by local zoning.

B. the center of the earth and infinite space above the earth.

The level of government that is the primary regulator of the real estate business is: A. the county. B. the state. C. the court system. D. the U.S. Congress.

B. the state.

The right to encumber a property means that the owner can: A. build fences and road blocks. B. use the property as collateral for debt. C. lease the property. D. assign the bundle of rights to another.

B. use the property as collateral for debt.

Littoral rights concern which of the following bodies of water? A. Lakes entirely contained within the boundaries of an owner's property. B. Streams and rivers. C. Navigable lakes, seas, and oceans. D. Navigable streams and rivers.

C. Navigable lakes, seas, and oceans

Riparian rights concern which of the following bodies of water? A. Lakes. B. Seas and oceans. C. Streams and rivers. D. Navigable lakes.

C. Streams and rivers.

Who owns the land under a navigable river? A. Owners of properties that abut the river. B. No one. C. The state D. The municipality, if the area is incorporated

C. The state

Which of the following is included in surface rights? A. Air rights. B. Subsurface rights. C. Water rights. D. Mineral rights.

C. Water rights.

An "improvement" is: A. a modification of land to make it more useful. B. a modification of a structure to enhance its value. C. a structure intended as a permanent attachment to land. D. a parcel of land that has been prepared for development.

C. a structure intended as a permanent attachment to land.

The rights to possess and use a property are: A. inviolable. B. infinite and unlimited. C. limited by what the law allows. D. dependent on the type of property involved

C. limited by what the law allows.

A property owner has the right to transfer water rights: A. if the owner has not previously separated the bundle of rights. B. only to the owner of an adjoining property. C. only if there are water rights attached to the property. D. without constraint.

C. only if there are water rights attached to the property.

Which of the following is true of littoral rights? A. They revert to the state when the property is sold. B. They cannot be transferred. C. They are a personal right belonging to an individual owner, not attaching to the real property. D. They transfer with the property when the property is sold.

D. They transfer with the property when the property is sold.

The right to build a structure on top of an existing structure is an example of: A. the right to encumber. B. surface rights. C. the right to improve. D. air rights.

D. air rights.

Water rights include the right to: A. extract water from the water table. B. divert surface water onto an adjoining property. C. prevent a stream or river from flowing onto an adjoining property. D. own and use a body of water on the surface of the earth.

D. own and use a body of water on the surface of the earth.

If a property has riparian rights, the owner has the right to: A. pollute the water for a legitimate business purpose. B. build a dam. C. require downstream property owners to pay a fee for use of the water. D. use the water in a way that does not infringe on another's riparian rights.

D. use the water in a way that does not infringe on another's riparian rights.