Chapter 2: Real Property Rights
Which of these is the best definition for personal property? -Any property owned by an individual. -Real property that is not attached to real estate. -Any property that is not classified as real property. -Anything that includes real property.
Any property that is not classified as real property.
Which is the "best" description of "Land"? -Soil, ground and earth, plus any improvements and fixtures attached, mines, minerals and some airspace. -Only the surface of the earth that is delineated by boundaries. -The surface of the earth except for lakes and streams. -Everything above, on, and below the surface of the earth.
Everything above, on, and below the surface of the earth.
What are the three unique physical characteristics of land? -Fixed, unchangeable, homogeneous. -Immobile, indestructible, heterogeneous. -Three-dimensional, buildable, marketable. -Natural, measurable, inorganic.
Immobile, indestructible, heterogeneous.
A property abutting a static body of water has ___________ rights. -Allodial -Alluvial -Littoral -Riparian
Littoral
What do we call the conversion of real property to personal property by detaching it from the real estate? -Detachment -Affixing -Severance -Disengagement
Severance
What guarantees the right of private ownership of real estate in the United States? -Common law -Local statutes -The Napoleonic Code -The Constitution
The Constitution
Which government entity is the primary regulator of the real estate business? -The federal government -The county -The state -The court system
The state
What part of a non-navigable waterway does the owner of an abutting property own? -To the low-water mark -To the middle of the waterway -To the high-water mark -None of the water
To the middle of the waterway
Which of the following is included in the bundle of rights inherent in ownership? -To transfer -To tax -To inherit -To move
To transfer
Surface rights include which of the following? -Subsurface rights -Water rights -Mineral rights -Air rights
Water rights
When may an item attached to a structure be considered personal property rather than real property? -When it can be removed without altering the appearance of the property. -When it is unnecessary to the physical integrity of the property. -When the owner installed it at some time after acquiring the property. -When the owner originally intended to remove it before conveying the property.
When the owner originally intended to remove it before conveying the property.
The level of government that focuses on land-use regulations and taxation is the -federal. -state. -county and local. -judicial.
county and local.
The concerns of the federal government in regulating real property rights include -discrimination. -real estate taxes -types of ownership. -school districts.
discrimination.
The primary distinction between the legal concepts of land and real estate is that -real estate includes air above the surface and minerals below the surface. -real estate is indestructible. -land has no defined boundaries. -land does not include man-made structures.
land does not include man-made structures.
The concept that the state controls all bodies of water is called -states' rights. -the principle of anticipation. -the doctrine of public utility. -the doctrine of prior appropriation.
the doctrine of prior appropriation.