Property Ownership

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? 1. the lien can only be for the cost of material used 2. the lien applies to all of harry's real property 3. the lien applies to all harry's real and rental property 4. the lien only applies to harry's rental property

4. the lien only applies to harry's rental property

which of the following situations is an example of a tenancy at sufferance? 1. a farmer who refuses to cede possession upon lease expiration in order to harvest his crops 2. a person who leases a store and renews her lease on a month to month basis 3. a tenant who installed trade fixtures, but did not remove them when the lease expired 4. a tenant who uses the premise in violation of her lease

a farmer who refuses to cede possession upon lease expiration in order to harvest his crops

what is an example of a tenancy at sufferance? 1. a farmer who refuses to give up possession of property when his lease expires in order to harvest his growing crops 2. a person who leases a store and renews her lease on a month to month basis 3. a tenant who installed trade fixtures, but did not remove them when the lease expired 4. a tenant that uses the premises in violation of her lease

a farmer who refuses to give up possession of property when his lease expires in order to harvest his growing crops

which of the following is an example of a tenancy at sufferance? 1. a farmer who refuses to give up possession when his lease expires in order to harvest his growing crops 2. a person who leases a store and renews her lease on a month-to-month basis 3. a tenant who installed trade fixtures, but did not remove them when the lease expired. 4. a tenant that uses the premises in violation of her lease

a farmer who refuses to give up possession when his lease expires in order to harvest his growing crops

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: 1.. a lease 2. a fee simple estate 3. an easement 4. either 1 or 2

a fee simple estate

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: 1. a fixture 2. the buyer's personal property 3. a replacement fixture 4. the seller's personal property

a fixture

which statements about encumbrances is correct? 1. an encumbrance must increase real property value 2. a lease is an example of an encumbrance 3. encumbrances can only be created by an owner of real property 4. both 1 and 3

a lease is an example of an encumbrance

which of the following choices is NOT a freehold estate? 1. a present interest in land 2. a lease that does not require rent payments 3. a life estate 4. all of the above

a lease that does not require rent payments

zobra owns property and gladly allows his friend, young, to use it. to best protect zorba's interest, he should give young: 1. an easement in gross 2. a right of way 3. an appurtenant easement 4. a license

a license

economic indicator

a measurable economic factor that changes before the economy starts to follow a particular pattern or trend

an appurtenant easement may be terminated by: 1. a merging of the dominant and servient estates 2. condemnation of the servient estate through eminent domain 3. abandonment by the servient estate 4. all of the above

a merging of the dominant and servient estates

A datum is most likely to be: 1. a point on the surface of a parcel 2. used in the govt. survey method of property description 3. used in the metes and bounds method of property description 4. a point below the surface of a parcel

a point on the surface of a parcel

property taxes on cooperative units are assessed in the form of: 1. individual tax bills for each unit 2. a single tax bill, prorated among individual units 3. annual tax bills based on the type of unit 4. biannual tax bills based on the type of unit

a single tax bill, prorated among individual units

a lease that contains no mention of an occupancy period is most likely to be: 1. invalid 2. a month to month lease 3. covered by the statute of frauds 4. a tenancy at sufferance

a tenancy at sufferance

the force of water on land is known as 1. accretion 2. riparian 3. littoral 4. annexation

accretion

the most predictable element of severance is: 1. attachment 2. intent 3. agreement 4. adaption

agreement

agreement

agreement between parties may permit removal of a fixture written agreements are the best way to avoid fixture disputes

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 judgment lien? 1. a car 2. boat 3. home 4. all of the above

all of the above

the right of privilege that one has to use the property of another is: 1. a license 2. a lease 3. an easement 4. all of the above

all of the above

to have any legal affect, plats drawn from the lot, block, and subdivision method must: 1. include a plat 2. be pre approved by the country or city before recordation 3. be recorded 4. all of the above

all of the above

which is not a valid method to describe real property? 1. metes and bounds 2. street adress 3. government method of survey 4. all of the above

all of the above

which of the following properties may be classified as commercial? 1. apartment buildings 2. vacant lots 3. parking lots 4. all of the above

all of the above

which real property right automatically conveys? 1. surface rights 2. subsurface rights 3. control 4. all of the above

all of the above

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? 1. an easement in gross 2. a license 3. an appurtenant easement 4. either 1 or 3

an appurtenant easement

mrs. franklin is buying property from mr. akin. in order to get to the property, it is necessary to cross property owned by mr. travis. in the past, mr. travis has granted persmission to mr. akin for this purpose. mrs. franklin wants to protect this privilege. what would best serves mrs. franklins interests? 1. an easement in gross 2. a license 3. an appurtenant easement 4. either 1 or 3

an appurtenant easement

which of the following items is not personal property? 1. a lease 2. a mortgage that secures personal property 3. partnership interests 4. an easement

an easement

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: 1. an easement by necessity 2. an easement in gross 3. created by operation of law 4. all of the above

an easement in gross

which definition is described as a trespass on an improvement? 1. an easement 2. a license 3. an encroachment 4. none of the above

an enroachment

what states are community property states?

arizona, california, idaho, Louisiana, nevada, new mexico, texas, washington. and wisconsin

trade fixture

articles of tangible personal property that are necessary to a tenant's trade or business

three people inherit unequal shares of a single piece of property. how could they hold ownership? 1. as tenants in severalty 2. as tenants in common 3. as joint tenants 4. either 2 or 3

as tenants in common

former personal property that automatically conveys is most likely to: 1. occur only by agreement 2. be a chattel 3. be a trade fixture 4. be a fixture

be a fixture

a legal land description must: 1. be sufficient to identify the property 2. carry the measurements to the nearest inch 3. show the area of the land being described 4. contain an informal reference

be sufficient to identify the property

which item is personal property? 1. apartment lease 2. business reputation 3. tool shed attached to the brick foundation 4. both 1 and 2

both 1 and 2

which of the following items is personal property? 1. apartment lease 2. business reputation 3. tool shed attached to the brick foundation 4. both a and b

both a and b

land moves by: 1. accretion 2. erosion 3. both 1 and 2 4. none of the above

both accretion and erosion

smith and brown own abutting property that borders a river. over the years, soil from smiths riverbank is washed onto browns riverbank. who owns the soil that washed from smiths riverbank to browns? 1. smith 2. brown 3. the state 4. none of the above, because all river bank overs have riparian rights

brown

real property can be changed into personal property: 1. by the right of appropriation 2. by severance 3. by the law of capture 4. never, because land is indestructible

by severace

how can a trust be established?

by will, a trust agreement, or by a deed in trust

the rights of a condo owner are defined by the: 1. management agreement 2. bylaws and condo declaration 3. bylaws and corporate charter 4. public offering statement

bylaws and condo declaration

a metes and bounds survey will most likely identify: 1. certain encumbrances 2. all title defects 3. marketable title 4. liens

certain encumbrances

a woman who owns an apartment building that is losing money. her accountant told her that she could make a profit if she sells the apartment units as condominiums. which document must she record or provide? 1. condo instruments 2. PUD 3. POS 4. both 1 and 3

condo instruments and POS

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? 1. proprietary lease 2. cooperative ownership 3. condo ownership 4. joint tenancy in the common area

condo ownership

if a man is considered a "proprietary tenant", he is most likely owns interest in which of the following types of property? 1. condo apartment 2. apartment house 3. cooperative apartment 4. office building

cooperative apartment

which of the following items is not an improvement of land? 1. building 2. sidewalk 3. corn crop 4. flower bed

corn crop

a property owner may: 1. possess property, but not dispose of it 2. enjoy property, but not encumber it 3. dispose of property, but not destroy it 4. control property, but not exclude others

dispose of property, but not destroy it

how can appurtenant easement be terminated? 1. if the easement is released by the dominant estate 2. if the dominant estate owner dies 3. if the necessity no longer exists 4. either 1 or 3

either 1 or 3

if a husband and wife own property as tenants in common, which of the following statements is true? 1. either may dispose of their own interest without approval of the other 2. title to the property is in the marital unit 3. both must agree to dispose of their interest 4. none of the above statements are true

either may dispose of their own interest without approval of the other

which of the following items would be disclosed by a metes and bounds survey? 1. easement 2. marketability 3. encroachments 4. both 2 and 3

encroachments

which of the following items would be disclosed by a metes and bounds survey? 1. easements 2. marketability 3. encroachments 3. both 2 and 3

encroachments

what would most likely to be included in the sale of real property? 1. an easement 2. enjoyment 3. trade fixtures 4. a kitchen sink

enjoyment

a person who rents property from june 1st to june 30th of the same year most likely has a(n): 1. estate for years 2. periodic estate 3. tenancy at will 4. license

estate for years

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: 1. the landlord, because farmer pete is no longer in possession of the property 2. farmer pete, but he cannot reenter the property without the landlords permission 3. farmer pete, because it is personal property 4. the landlord, because the crops are affixed to the land

farmer pete, because it is personal property

in relation to lien priority, which of the following statements is incorrect? 1. a recorded deed has priority over a recorded mortgage 2. federal income tax liens have priority over all other liens 3. mechanics liens apply on the date that work began or materials were supplied 4. the date of recording determines the priority for private liens

federal income tax liens have priority over all other liens

the original owner of a condo unit holds which of the following interests? 1. a fee simple absolute in the unit 2. joint tenancy in the common areas 3. joint tenancy in the common walls 4. all of the above

fee simple absolute in the unit

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: 1. fee simple estate 2. life estate 3. leasehold estate 4. fee simple determinable estate

fee simple estate

trustee

fiduciary and has a duty to protect, preserve, and enhance the value of property in her care

what is NOT a physical characteristic of land? 1. heterogeneity 2. indestructibility 3. immobility 4. fixity

fixity

what are other real estate-related economic indicators?

foreclosure rates, defaulted mortgage loans, and late payments.

an adequate metes and bounds description must have all of the following except: 1. a definite point of beginning 2. four sides 3. closure 4. linear measurements and compass directions

four sides

which of the following is most likely to transfer with real property? 1. fructus naturales 2. portable kitchen appliances 3. fructus industriales 4. trade fixtures

fructus naturales

jon purchased a 640 acre tract of land. which method of legal property description would work best for jon? 1. monument 2. metes and bounds 3. recorded plat 4. geodetic

geodetic

large blocks of land are located in a rural area of a Midwestern state. this would most likely be described by: 1. government rectangular survey 2. lot, block and subdivision 3. metes and bounds 4. reference to other documents

government rectangular survey

a land description that reads "T4S, R3E" is most likely based on the: 1. monument method 2. government survey method 3. metes and bounds method 4. recorded plat method

government survey method

fructus industriales (fruits of industry, labor)

growing crops, aka emblements, that are produced annually through labor and industry (corn, wheat, fruits, and vegetables)

the land characteristic that is most likely the basis for a specific performance lawsuit is: 1. immobility 2. hetergeneity 3. situs 4. improvements

heterogeneity

adaptation

if an object was specially adapted or made to suit a particular or unique feature of a building, then it is classified as a fixture (book case)

jones, smith, and williams own property as joint tenants. which of the following statements is true? 1. if jones and smith die, williams will own the property as a joint tenant with the heirs of jones and smith 2. if jones dies, smith and williams will own the property as tenants in common 3. if jones and smith die, williams will own the property in severalty 4. if any of the owners die, the property goes to the heirs of the deceased owner

if jones and smith die, williams will own the property in severalty

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? 1. immobility 2. uniqueness 3. scarcity 4. situs

immobility

real property

improvements or fixtures, such as infrastructure, developments, and houses NOT MOVEABLE

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? 1. nothing, because the pole is attached and will automatically convey 2. call the seller and advise them that the buyer wants the pole 3. include the flag pole in the offer to purchase 4. photograph the flag pole as evidence of its attachment

include the flag pole in the offer to purchase

rights in real property

includes ownership rights in the surface of the land, airspace above land, space below the surface, any easements, and use of appurtenant

if the property value _________, the chances of being able to sell the home also _________, making it possible for homeowners to improve their lives

increases, increases

rights in personal property

intellectual property, business reputation, leases, and partnership interests

mary purchased the right to use an apartment for 2 weeks every year. this is an example of: 1. interval ownership 2. ownership as a joint tenant 3. cooperative ownership 4. a limited partnership

interval ownership

a condo association can most likely perform all of the following actions, EXCEPT: 1. elect a board of directors 2. interview prospective buyers 3. award contracts to tradesmen 4. assess a fee to unit owners in order to cover maintenance and repairs

interview prospective buyers

former personal property that automatically conveys: 1. is a trade fixture 2. is a fixture 3. is chattel 4. occurs only by agreement

is a fixture

types of fixtures

items that were once moveable - fences, buildings, trees, or bricks in a wall - affixed to real estate

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? 1. july 1st 2. july 30th 3. september 1st 4. september 5th

july 1st

all of the following statements are true about land, except: 1. a land exists forever 2. real estate is immobile 3. land cannot be insured 4. land may be depreciated

land may be depreciated

how can the extent of encroachment always be discovered? 1. physical observation 2. land survey 3. title search 4. quitcalm deed

land survey

types of real property

land, improvements, real estate

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? 1. larry has no interest, but may cancel the contract due to jane's fraud 2. larry has no interest because jane did not get the children's permission to sell the farm 3. larry has a life estate pur autre vie 4. none of the above

larry has a life estate pur autre vie

which legal instrument could convey a tenancy for years? 1. deed 2. land contract 3. lease 4. either 2 or 3

lease

what phrase best describes why two physically similar parcels of real estate might have very different economic values? 1. the supply of land of earth is fixed 2. land cannot be created or destroyed 3. location, location, location 4. land cannot be moved from one place to another

location, location, location

the land description that uses a recorded subdivision plat is the: 1. geodetic survey method 2. rectangular survey system 3. lot and block system 4. metes and bounds survey method

lot and block system

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: 1. cannot sell because all three must agree 2. may file suit for partition 3. may seek detachment 4. may sever the third party's interest

may file suit for partition

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: 1. mechanics lien against the boat 2. mechanics lien against the property 3. general lien against fred 4. all of the above

mechanics lien against the property

an appurtenant easement may be terminated by: 1. merger of the dominant and servient estates 2. condemnation of the servient estate through eminent domain 3. abandonment by the servient estate 4. all of the above

merger of the dominant and servient estates

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: 1. metes and bounds 2. rectangularr 3. prior recorded documents 4. monument

metes and bounds

what type of legal description will most accurately describe an irregularly shaped parcel of land? 1. lot and block 2. metes and bounds 3. recorded plat of subdivision 4. government survey

metes and bounds

what would most accurately describe an irregularly shaped parcel of land? 1. metes and bounds 2. government survey 3. lot, block, and subdivision 4. all of the above

metes and bounds

boundary markers of land (natural or man made) are best known as: 1. benchmarks 2. monuments 3. stakes 4. metes

monuments

Personal Property

moveable and unattached to land

lionel rents an apartment under a three-year lease. after the first six months, the landlord sells the building. lionel: 1. must renegotiate the lease with the new owner or vacate the premises 2. need not do anything if the owner fails to renegotiate the lease within 60 days 3. need not do anything, but the new owner may terminate the lease at any time. 4. need not do anything

need not do anything

land is insurable primarily because of its: 1. uniqueness 2. indestructibility 3. improvement 4. none of the above

none of the above

what is the best description of ownership in severalty? 1. several persons own one piece of real property 2. one person owns several pieces of real property 3. limited to corporate ownership 4. property owned by several members of the same family

one person owns several pieces of real property

what is proprietary also known as?

owner

what is a lessor considered?

owner/landlord

the right of one party to possess and use real property exclusive of others is: 1. hypothecation 2. partition 3. ownership 4. all of the above

ownership

several people hold property as tenants in common. one of the tenant dies. his interest in the property will: 1. pass to his heirs or devisees, if any 2. pass to the remainderman 3. be equally divided among the other owners 4. be divided between the other owners in direct proportion to their ownership interest.

pass to his heirs or devisees, if any

types of fructus naturales

permanent plantings: flowers, grasses, trees, and bushes may not be removed from the land absent an agreement

is a lease considered personal property or real property?

personal property

what is personal property also known as?

personalty and chattel

a cooperative owner has exclusive use of her unit by reason of: 1. general partnership 2. property lease 3. fee simple title 4. license

property lease

which of the following items is most likely to be severed? 1. garden tractor 2. commercial cooler 3. rail fence 4. either 2 or 3

rail fence

industrial property includes all of the following uses except: 1. mines 2. warehouses 3. ranches 4. vacant lots

ranches

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: 1. personal property, regardless of when it is removed 2. real property, if not timely removed 3. personal property, so long as it is timely removed 4. real property, regardless of when it is removed

real property, regardless of when it is removed

which method of legally property description relies on range lines? 1. vertical 2. lot, block, an subdivision 3 rectangular 4. monument

rectangular

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: 1. reversionary 2. remainder 3. equitable 4. ostensible

remainder

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: 1. life estate 2. remainder estate 3. trustee 4. reversion estate

remainder estate

jean transfers a fee simple interest in her property to her daughter lisa, but reserves a life estate for herself. during jean's lifetime, lisa holds a 1. a life interest, pur autre vie 2. remainder interest 3. a reversionary interest 4. a life estate

remainder interest

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: 1. life interest, pur autre vie 2. remainder interest 3. reversionary interest 4. life estate

remainder interest

mr & 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 1. reminder estate 2. life estate 3. reversion estate 4. trustee

reminder estate

which of the following circumstances would diminish a fee simple estate? 1. death of the owner 2. sales of the property 3. rental of the property 4. all of the above

rental of the property

what is a lessee considered?

renter/tenant

relationship of parties

residential renters are less likely than commercial renters to be able to sever (compare trade fixtures)

a landlord's right to reenter or regain possession of the premises upon expiration of a lease is known as: 1. redemption 2. reversion 3. remainder 4. recovery

reversion

residential property may be composed of: 1. single family homes only 2. single family homes and cooperatives 3. commercial buildings that may have landlords private apartment 4. a cattle ranch with a bedroom in a barn

single family homes and cooperatives

all of the following terms are physical characteristics of land except: 1. situs 2. immobility 3. heterogeneity 4. indestructibility

situs

all of the following choices are considered as legal descriptions of real property EXCEPT: 1. lot and block 2. metes and bounds 3. street address 4. government survey

street address

what is one of the primary influences on home prices?

supply and demand in the local real estate market

examples of personal property

tangible items like cars, boats, jewelry, horses, cattle intangible items like stocks, bonds, mortages, etc

what is NOT considered to be a legal description of property? 1. metes and bounds 2. lot and block 3. rectangular survey system 4. taxpayer federal ID number

taxpayer federal ID number

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? 1. joint tenancy 2. tenancy in common 3. tenancy by the entirety 4. either 1 or 2

tenancy in common

a property has three owners. these parties own 10%, 20%, and 70% interest, respectively. what type of ownership do they have? 1. joint tenancy 2. tenancy in common 3. tenancy by the entireties 4. either 1 or 2

tenancy in common

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: 1. periodic tenant, because the lease automatically renews 2. tenant at will, because no additional time period was specified 3. tenant at sufferance, because the tenant is breaking the law 4. freehold tenant, because the landlord failed to act

tenant at sufferance, because the tenant is breaking the law

of the terms listed below, which do NOT fit together? 1. survivorship--joint tenancy 2. fee simple--forever 3. testate--escheat 4. tenants in common--undivided interest

testate--escheat

severance

the act of removing a fixture

what is NOT true about metes and bounds? 1. the metes and bounds survey ends at the point of beginning 2. the distances shown in the deed will prevail over the actual distances measured 3. the length of metes in the survey can be measured to one hundredth of a foot 4. the monument at the point of beginning should be as permanent as possible

the distances shown in the deed will prevail over the actual distances measured

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? 1. the lease is valid for four more years because it is susans personal property 2. the lease was invalid from the beginning because a life tenany may not commit waste 3. the lease was valid only during mary's lifetime because it was one of the sticks in the bundle 4. the lease is invalid because it violates the statute of frauds

the lease was valid only during mary's lifetime because it was one of the sticks in the bundle

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? 1. the landlord must serve notice to quit at least 30 days before expiration or the lease will renew 2. the tenant must serve notice to quit at least 30 days before expiration or the lease will renew 3. if neither party provides proper notice to quit, the lease will renew for another 6 months 4. the lease will terminate on december 31, 2016

the lease will terminate on december 31, 2016

zorba leases a restaurant. he installs ovens, booths, and counters. which of the following statements is true? 1. the ovens, booths and counters cannot be removed by zorba 2. the ovens, booths, and counters can be removed by zorba at any time 3. the ovens, booths, and counters can be removed by zorba at any time before zorba's lease expires 4. zorba is not responsible for any damage caused by removing the ovens, booths, and counters

the ovens, booths, and counters can be removed by zorba at any time before zorba's lease expires

method of attachment

the permanence with which an object is attached to real property is a factor in determining whether it may be removed. the more permanent the attachment, the less likely it is to be severed.

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? 1. the poorly maintained home value may rise due to immobility 2. the value of all other homes in the neighborhood will decrease due to immobility 3. the poorly maintained home value would increase if it were assembled with another lot 4. the values of other homes in the neighborhood will decrease due to situs

the poorly maintained home value may rise due to immobility

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? 1. the lien of his mortgage 2. the real estate tax lien 3. the judgement lien 4. the mechanic's lien

the real estate tax lien

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? 1. the wife owns the property in severalty. 2. the son is a tenant in common with his mother 3. the son will automatically inherit the property when his mother dies 4. the son has a life estate, pur aure vie

the wife owns the property in severalty

what is the primary difference between a tenancy in common and a joint tenancy?

there is no right of survivorship

real property does not include: 1. air rights 2. trade fixtures 3. improvements 4. mineral rights

trade fixtures

what does personal property include?

trade fixtures, leases, and fructus industriales (emblements)

what is the primary difference between a tenancy by the entirety and a joint tenancy?

unlike a joint tenant, a tenancy by the entirety exists so long as each spouse is alive and they remain husband and wife.

learning indicators

used to predict changes in the economy

when is a remainder estate created?

where the grantor conveys less than a fee simple estate and creates a future interest for a third party

when is a reversion estate created?

where the grantor conveys less than a fee simple estate and retains a future interest for herself

what distinguishes an easement in gross from an appurtenant easement? 1. whether the benefit runs with the land 2. whether there are adjacent properties 3. whether the use is regular exercised 4. whether the purpose is legal

whether the benefit runs with the land

a joint tenant wants to sell his interest without consent from the other joint tenants. can he do this? 1. yes, because each joint tenant may sell independently of the others 2. yes, because survivorship is present in joint tenancy 3. no, because all co owners must first agree to sever the tenancy 4. no, because the unity of interest in a joint tenancy protects the other co owners

yes, because each joint tenant may sell independently of the others

once created and properly recorded, may a subdivision plat be altered? 1. no, because all descriptions will retain the historical reference to the original subdivision 2. yes, so long as new plats are created and recorded which reflect the changes to the original plat 3. no, because a change would render all prior descriptions from the original plat as invalid 4. yes, so long as permission is obtained from the local zoning board

yes, so long as new plats are created and recorded which reflect the changes to the original plat

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? 1. yes, unless the parties agree that they will be removed before the sale has advanced 2. yes, because the storm windows and doors are fixtures 3. no, because they can be easily removed without damaging the property 4. no, so long as brady reinstall the original windows and doors

yes, unless the parties agree that they will be removed before the sale has advanced