Real estate: Chapter 3: Quiz

Which of the following is an example of an easement by necessity? -A court grants a land-locked owner the right to use a neighbor's driveway for access. -Two neighbors agree the build a fence and share ownership of the fence. -An owner invites a neighbor to use his swimming pool while the owner is away for the summer. -A person habitually parks his recreational vehicle on his neighbor's yard because his own driveway is not large enough to hold it.

A court grants a land-locked owner the right to use a

Oak Hill subdivision allows only homes in excess of 2,000 sq ft to be built. What is this an example of? Deed restriction Encroachment Prescription Zoning restriction

Deed restriction

A real estate tax lien, a federal income tax lien, a judgment lien, and a mortgage lien are recorded against a property. Which lien will be paid first when the property is sold? Real estate tax lien Federal income tax lien Judgment lien Mortgage lien

Real estate tax lien

There was a judgment lien against a person for his debts. He owned a car, boat, farmhouse, and some land. Which would the judgment lien be placed upon? The car only The car and boat only The farm house and the land only The car, boat, farmhouse, and the land

The car, boat, farmhouse, and the land

What date is used to establish lien priority for a mechanic's lien? -The date of recording the lien -The date of contracting between the mechanic and the lienee. -The date of beginning or ending the mechanic's work, per state law -The date the lienee borrows money to pay the debt

The date of beginning or ending the mechanic's work, per state law

Property A and property B share a common wall along the property boundary. To ensure that neither owner destroys the wall, the owners of A and B should create: an easement by necessity. a perpetual encroachment. a license. a party wall easement.

a party wall easement

Neighbor Fred built a retaining wall that was 2 feet outside his property line. What has Fred created? A deed restriction A license violation An encroachment A zoning exemption

an encroachment

Other than its categorization as inferior or superior, a lien's priority is generally determined by the -size of the amount that is the subject of the lien. -date of recordation. -date when the lienee signs the lien document. -type of document used to establish the lien.

date of recornation

If the owner of property A has a court-ordered easement to drive across property B because it is the only way for A to have access to a public road, the easement is a(n) easement by prescription. personal easement. easement by necessity. easement in gross.

easement by necessity

Deed restrictions generally concern: -the form of ownership in which a property may be held. -how long a property must be owned before it can be legally transferred. -what groups of people are legally excluded from future ownership of a property. -how a property may be used and what structures may be built on it.

how a property may be used and what structures may be built on it.

Which of the following statements about liens is FALSE? -There may be multiple liens against a property. -Liens never convey ownership. -An owner acquires existing liens along with the property. -Recording payment of a lien terminates the lien.

liens never convey ownership

A general lien is a lien: -imposed by statutory law. -imposed by court order. -placed against an individual rather than against any particular property. -placed against any and all property owned by an individual.

placed against any and all property owned by an individual.