Chapter 3 Questions

When the contract for the sale of real property includes the cash sale of certain removable fixtures, such as refrigerators and furniture, upon delivery of the deed the seller should also deliver a: (A) Bill of sale. (B) Estoppel certificate. (C) Chattel mortgage. (D) Satisfaction of mortgage

(A) Bill of sale

Which of the following does not apply to real property? (A) Chattel mortgage. (B) Fee simple. (C) Fixture. (D) Appurtenances

(A) Chattel mortgage

The distinguishing traits of real property, differing it from personal property, are that it: (A) Can be mortgaged. (B) Is permanent, fixed, and immovable. (C) Can be freely transferred. (D) Is taxed at a higher rate

(B) Is permanent, fixed, and immovable

Which of the following best defines real property: (A) Land and the air above it. (B) Land and all below or above the surface, and all the improvements thereon. (C) Land, buildings thereon and anything permanently affixed to the land and/or buildings. (D) Land and the mineral rights in the land

(B) Land and all below or above the surface, and all the improvements thereon

The most important factor in determining whether something is a fixture is: (A) The method of its attachment. (B) Description of the items. (C) Its weight. (D) The intention of the parties

(D) The intention of the parties