Ch. 1 Quiz - Intro to Real Estate

Approximately how many acres are there in a lot 1/2 mile by 1/2 mile?

160

Under the treaty of Guadalupe Hidalgo in 1848, the United States acquired the territory of California from:

Mexico

In the early history of California, what group of explorers and colonizers were responsible for the development of presidios and pueblos?

Spaniards

Permission to use underground waters, known as percolating waters, is owned by the:

adjoining owners for their reasonable use

A deeded easement of right-of-way over the land of another is considered to be:

an appurtenance

Which of these statements most nearly defines personal property:

an unharvested peach crop sold to canning factory NOT: trees in a forest, stock sold to bring water on the land of a group of landowners who have formed their own company, the right to cross over someone else's property

The rights to minerals that lie beneath the surface of the land, unless otherwise specified:

are automatically transferred with the sale of real property

Personal property differs from real property in many aspects and is legally known as:

chattel

Erick Chinn bought a stack of lumber which he placed in his backyard. Later he used some of the lumber to build a room addition to his house. He only used a portion of the lumber. The remaining wood is considered:

chattel / personal property

A legal definition of real estate includes many elements and parts. Which of the following items would not be a part of real estate?

farm equipment REAL ESTATE IS: fences, growing trees, permanent two-story buildings

Real property can be most completely defined as:

land, affixed to land, appurtenances, immovable by law

Which of the following is false?

landscaping is considered personal property TRUE: airspace is considered real property, real property can be divided horizontally, solid minerals in the ground are considered real property

Courts frequently have to make a decision as to whether some item does or does not go with the real property when is sold. In making their decision they use the "Five tests of a fixture". Which of the following is a test of a fixture?

method by which property is attached, whether the property is considered adaptable, relationship of parties involved NOT: whether the property is being taxed

Which of the following is considered to be personal property:

mortgage contract

There was some question in the mind of the owner as to whether or not she had any riparian rights on her recently purchased property. She was informed that the riparian rights are:

not found in any of the below a matter or record, listed in the title policy, stated in the grant deed

The addition of a wood burning stove in a family room, with the stove pipe passing through the roof, is an example of:

personal property becoming a fixture

The right to possess, encumber, use, and enjoy a piece of property to the exclusion of all others, would be an accurate description of:

property ownership

Airspace directly above a parcel of land is considered to be:

real property

When anything is fastened or attached to real property in such a manner as to ensure its permanence, it is considered to be:

real property

Property owners whose land borders a river have rights to a reasonable use of the water, known as:

riparian rights

Which of these items is classified as personal property?

seasonal crop NOT: fixtures, land, appurtenant easements

The United States Government Survey System has to do with:

sections and townships

Which of the following is considered personal property?

silver removed from the ground and sent to the smelter NOT: a peach orchard, stock in a mutual water company, easement

Which of the following is considered to be real property?

standing timber sold with land NOT: a lease to an apartment house, a cash register in a drug store, a grape crop, sold under contract, but not yet harvested

The need to determine whether property is real or personal frequently arises. Which of the following would not be classified as real property?

stock in a real estate corporation REAL PROPERTY IS: airspace over a condominium project, newly planted fruit trees, minerals in the ground before they are mined

The legal term referred to as real property includes all of the following:

that which is immovable according to law, the land beneath the surface to the center of the earth, determined by law to be a fixture NOT: an unlimited use of the airspace above the property

An owner sells land, but reserves the mineral rights. Based on this, which of the following is true?

the mineral rights are the real property of the grantor

The rights of an owner are referred to as the "Bundle of Rights". Which of these are rights?

the right to possess, the right to borrow against real property, the right to use NOT: the unrestricted right to the use of riparian waters

An investor leases a building to a tenant who then opens a retail store. The tenant installs a cash register. The cash register is best described as:

trade fixture

In addition to the land and those things that are affixed to the land, certain other things called appurtenances are considered to be real property. Which of the following is not real property?

trade fixtures REAL PROPERTY IS: a dwelling, watercourses, a fence