Chapter 1 Exam Questions

How many cubic feet of space is there in a warehouse that is 610 feet wide by 140 feet deep and has an 18 foot ceiling? 85,400 1,537,200 35 2,520

1,537,200

If Mr. Shern's lot has 65 front feet and contains 7,150 square feet, how deep is it? A. 110 ft. B. 100 ft. C. 65 ft. D. 464,750 ft.

110 ft

A township contains how many square miles? A. 6 B. 16 C. 640 D. 36

36

Approximately how many acres are there in a farm that measures 470 feet along the road and 556 feet in depth? A. 261 B. 6 C. 50 D. 320

6

If a man has 6 acres of land and deeds 3/4 of it to a son and the remainder to a nephew, how many square feet of land does the nephew acquire? 261,360 196,020 65,340 43,560

65,340

Dawson sold his 500 acre farm to Harris, but reserved the right to drill for oil. Later, when Dawson arrives with oil drilling equipment, he is denied the right of access to the land. Which party has correctly interpreted the agreement? A. Dawson, because he has an implied right of entry. B. Harris, because the agreement was silent as to the right of entry. C. Dawson, but he must pay Harris a reasonable fee for the right of access and reimburse him for any damages caused by the drilling operation. D. Harris, but he may be liable if his denial was unreasonable.

Dawson, because he has an implied right of entry.

You have a prospective purchaser for a home and the listing agent has not been able to provide you with a legal description. Which statement describes your best course of action? Complain to the Real Estate Commission Write an offer without a legal description Find the legal description yourself at the courthouse or on the computer Contact the seller yourself

Find the legal description yourself at the courthouse or on the computer

If Smith builds a fence on Jones' land by mistake, in good faith, and thinking the fence is on Smith's land, then: A. Jones automatically acquires ownership of the fence by accession. B. Jones may sell the fence and keep the proceeds. C. Jones may require Smith to remove the fence and/or pay damages. D. both (A) and (B).

Jones may require Smith to remove the fence and/or pay damages.

Which of the following would be acceptable on a sales contract? Legal description to be attached Legal description attached and made a part hereof by reference Legal description and survey to be provided at closing Purchaser to be provided with legal description within ten days

Legal description attached and made a part hereof by reference

The characteristic that distinguishes personal property from real property is: A. mobility. B. scarcity. C. durability. D. flexibility.

Mobility

Which of the following is NOT an acceptable method of legally describing a parcel of real estate? A. Street addresses, county, and state. B. Metes and bounds. C. Rectangular surveys. D. Recorded plats.

Street addresses, county, and state.

Which of the following statement about air rights is true? A. Air rights can be leased but not sold unless the entire parcel is being sold. B. The owner can sell the air rights and still retain the surface and subsurface rights. C. Government controls such as zoning have no effect on air rights. D. Structures are rarely erected on air lots.

The owner can sell the air rights and still retain the surface and subsurface rights.

A seller wishes to remove certain shrubs planted in the front yard and not include them in the sales price of the home. The shrubs must be left and included in the sales price of the home. The shrubs can be removed unless they are valuable. If the seller planted the shrubs, they can be removed. The seller may do so only if permission for the removal is specifically stated in the sales contract.

The seller may do so only if permission for the removal is specifically stated in the sales contract.

Which of the following best describes a parcel of land? A. The surface of the earth includes all things permanently attached and the control of all minerals and substances beneath. B. The surface of the earth extending down to the center and upward to infinity. C. The earth's surface clearly marked by certain boundaries. D. The surface of the earth extending down a reasonable distance and up into the air a reasonable distance.

The surface of the earth extending down to the center and upward to infinity.

In determining whether an item is a fixture, which of the following would not be considered? A. Method of attachment. B. Adaptation to the real estate. C. Value of the item. D. Legal interest of the annexing party.

Value of the item.

Which of the following would be considered an artificial monument when used in a metes and bounds legal description? A tree A fence corner A river A large rock

a fence corner

An item that was personal property but has been attached to and become part of the real property is known as: A. a trade fixture. B. an emblement. C. fructus industriales. D. a fixture.

a fixture

When it is necessary to prepare a new metes and bounds description, it should be done by: the seller. a licensed surveyor. the listing salesperson. the selling salesperson.

a licensed surveyor

Crops planted and harvested each year are: A. personal property. B. emblements. C. fructus industriales. D. all of the above.

all of the above

The point of beginning on a plat of survey is marked with reference to a: benchmark. datum. meridian. base line.

benchmark

Ownership of personal property is transferred by: A. deed. B. chattel deed. C. bill of sale. D. sales agreement.

bill of sale

When used in a deed or other real estate document, a legal description describes only the land because: A. a bill of sale is used to convey title to the buildings and other improvements. B. arti cial attachments, such as buildings, cannot be adequately surveyed. C. buildings and other improvements are considered to be part of the real estate. D. a street address is used to identify the buildings and improvements.

buildings and other improvements are considered to be part of the real estate.

All of the following are real property EXCEPT: A. oil below the earth's surface. B. a concrete driveway. C. cut timber. D. air rights.

cut timber

A base point from which height or depth can be measured to describe air rights or subsurface rights is a: A. topographic. B. bench mark. C. point of beginning. D. datum.

datum

Real estate investors are not generally interested in how long buildings will last, but in how long they will be profitable. This characteristic is called: A. life expectancy. B. pro t margin. C. net return. D. economic life.

economic life

The transfer of land ownership automatically includes: emblements. fixtures. chattels real. trade fixtures.

fixtures

An adequate metes and bounds description must have all of the following EXCEPT: a definite point of beginning. four sides. closure. linear measurements and compass directions.

four sides

The most distinctive physical characteristic of land is: A. homogeneity. B. immobility. C. situs. D. improvements.

immobility

A metes and bounds description might be insufficient if: I. it does not have enough sides to close. II. it is irregular in shape. Only I is true. Only II is true. Both I and II are true. Neither I nor II is true.

it does not have enough sides to close.

All of the following are true about a trade fixture EXCEPT: A. it is personal property. B. it is chattel real. C. it may be removed only after the lease expires. D. it belongs to the property owner if not removed in a timely manner.

it may be removed only after the lease expires.

A custom-made storm window would most likely be considered a fixture because of: A. its adaptation to the building to which it is attached. B. the method of attachment. C. the annexing party's intent to make it permanent. D. the annexing party's interest in the real property.

its adaptation to the building to which it is attached.

Water table refers to the: difference between the high and low water level of a navigable body of water. level at which percolating water is found below the earth's surface. depth to which a landowner may drill in order to extract water in exercising the right of prior appropriation. None of the answers are correct.

level at which percolating water is found below the earth's surface.

Water rights along a large, navigable lake or ocean are known as: tidal rights. shore rights. correlative rights. littoral rights.

littoral rights

The method of land description which identifies a parcel by specifying its boundary lines along with the terminal points and the bearing of each side is known as: A. lot, block, and tract. B. recorded plat. C. government survey. D. metes and bounds.

metes and bounds.

All of the following items are personal property EXCEPT: trade fixtures. a privacy fence. patio furniture. portable dishwasher.

privacy fence

The law of capture refers to the: A. process of removing oil and gas from the land. B. government's right of eminent domain. C. landowner's right to keep trade xtures if not removed. D. responsibility of lateral support while removing solid minerals.

process of removing oil and gas from the land.

A permanent addition to a building is: real property. personal property. a chattel real. an encumbrance.

real property

A landowners right to use water from a bordering stream or river is called: A. Littoral right. B. Right of prior appropriation. C. Riparian right. D. Correlative right.

riparian right

Which of the following items is considered real property? Natural things movable by law Notes secured by mortgages on real estate Riparian rights House plants

riparian rights

The fact that an acre of land in a rural area cannot fulfill as many needs as an acre of urban land describes the economic characteristic of: A. scarcity. B. situs. C. improvements. D. location.

scarcity

Real property is changed into personal property by: the right of appropriation. severance. the law of capture. fructus naturales.

severance

The sum of all factors that affect value is called: A. location. B. accession. C. situs. D. scarcity.

situs

A metes and bounds description must have all of the following EXCEPT: a definite point of beginning. the name of the county and state. the approximate square footage or acreage. compass directions and distances from one point to the next.

the approximate square footage or acreage.

If the only land description you have provided on your offer is the street address: this could be sufficient if there is no other street by the same name. this contract is probably unenforceable. this amounts to a contingency that must be resolved. the contract may be legal but is unprofessional.

this contract is probably unenforceable.

All of the following are appurtenances EXCEPT: riparian rights. a garage. an apple orchard. trade fixtures.

trade fixtures