Real Estate

When a tenant in common dies, what happens to the tenant's interest in the estate?

It passes by probate to the deceased tenants heirs

How is a lien terminated

Payment of the debt that is the subject of the lien and recordings of the satisfaction

A real estate tax lien, a federal income tax lien, a judgement 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

One difference between a condition and a covenant is that

a condition can be created only when there is a transfer of ownership

In a strict forecloure

a lender takes title to the mortgaged property directly

Foreclosure is

a proceeding to take equitable title to a property that was used as security for a mortgage loan.

The sudden removal of soil by an act of nature is a. avulsion b. erosion c. prior appropriation d. accretion

a. avulsion

If littoral rights attach to a property, the property extends to a. the high water mark of the body of water. b. the low water mark of the body of water. c. the center line of the body of water d. the property line of a property that also has littoral rights on the opposite side of the body of water.

a. the high water mark of the body of water

A tract of land is 1/32 of a section. How many acres does this tract consist of ? a. 10 acres b. 20 acres c. 40 acres d. 80 acres

b. 20 acres

An encroachment is a. an easement that has not been recorded on the title of the burdened property b. an unauthorized physical intrusion of one property into another. c. a right granted by a property owner to the owner of an adjoining property to build a structure that protrudes across the property boundary. d. a structure that does not comply with a zoning ordinance.

b. an unauthorized physical intrusion of one property into another.

Real property is conveyed by deed. Personal property is conveyed by a. deed b. bill of sale c. transfer title d. contract

b. bill of sale

Which of the following is real property? a. building materials delivered to a house covered up in the driveway b. building materials delivered to a house and used to add a screened porch on the back of the house c. bird feeder in the back yard d. a car parked in the driveway

b. building materials delivered to a house and used to add a screened porch on the back of the house

What method currently used to describe real estate provides land descriptions by dividing the land into rectangles and describing the rectangles in which the land is located and is based on two intersecting lines, principal meridians and base lines? a. metes and bounds b. government survey system c. lot and block d. recorded plat

b. government survey system

A court might grant an easement by prescription if

c. an intruder has been using an owner's property for a certain period with the owner's knowledge but without permission.

An encumbrance is most broadly defined as a. another right to use a property without the permission of the property owner. b. another's right to claim the sale proceeds of a property that has been used as collateral for a loan. c. another's interest in real property that limits the interests of the freehold property owner. d. another right to control how the freehold owner of a real property uses the property.

c. another's interest in a real property that limits the interests of the freehold property owner.

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) a. easement by prescription. b. personal easement. c. easement by necessity. d. easement in gross.

c. easement by necessity

What is a metes and bounds survey most likely to disclose? a. easements b. marketability c. encroachments d. both a and b

c. encroachments

Littoral rights concern which of the following bodies of water? a. lakes entirely contained within the boundaries of an owner's property. b. streams and rivers c. navigable lakes, seas, and oceans d. navigable streams and rivers

c. navigable lakes, seas, and oceans

A retailer installs special display counters to exhibit her products. At the end of the lease term, the retailer moves to another state leaving the counters in the store. At this point, the counters are considered which of the following? a. trade fixtures and therefore real property b. trade fixtures and therefore personal property c. real property since the trade fixtures were abandoned d. personal property that must be returned to the retailer.

c. real property since the trade fixtures were abandoned

Riparian rights concern which of the following bodies of water? a. Ponds b. Seas and oceans c. Streams and rivers d. navigable lakes

c. streams and rivers

Who owns the land under a navigable river? a. owners of properties that abut the river. b. no one c. the state d. the municipality, if the area is incorporated.

c. the state

Which of the following is true of a joint tenancy? a. the tenants can determine the size of the share owned by each tenant b. the size of the tenant's shares is determined by the amount of equity each has invested in the property. c. the tenants have an equal and indivisible ownership interest. d. there can be no more than two coowners, and each has a fifty percent interest.

c. the tenants have an equal and indivisible ownership interest.

Two individuals can own a house as tenants by the entireties if

c. they are married

A lien is a

creditor's claim against property as security for a debt of the property owner.

If a real estate licensee provides any party to a real estate transaction with third party information concerning the size or area in square footage otherwise of the subject property involved in the transaction, the licensee shall identify the source of the information. Third party information means a. an appraisal or any measurement info prepared by a licensed appraiser. b. a surveyor developer's plan prepared by a licensed surveyor. c. a tax assessor's public record. d. all of the above

d. all of the above

In what kind of easement is there a dominant tenement and a servient tenement? a. an easement in gross b. a commercial easement c. a personal easement d. an easement appurtenant

d. an easement appurtenant

Which of the following is personal property? a. Antique chandelier b. rose bush c. water heater d. bench in the yard

d. bench in the yard

A legal description in the rectangular survey system will also include a metes and bounds or lot and block description if the property a. falls within two townships b. is more than six miles from a standard parallel c. has been surveyed since 1790 d. is irregular in shape.

d. is irregular in shape

Water rights include the right to a. extract water from the water table. b. divert surface water onto an adjoining property. c. prevent a stream or river from flowing onto adjoining property. d. own and use a body of water on the surface of the earth.

d. own and use a body of water on the surface of the earth

The lot and block system of description is used for a. rural properties b. any property in an incorporated area c. rectangular properties d. properties in a subdivision

d. properties in a subdivision

Which of the following is true of littoral rights? a. the revert to the state when the property is sold b. they cannot be transferred. c. they are a personal right belonging to an individual owner, not attaching to the real property. d. they transfer with the property when the property is sold.

d. they transfer wit the property when the property is sold

the property has riparian rights, the owner has the right to a. pollute the water for legitimate business purpose. b. build a dam c. require downstream property owners to pay a fee for use of the water. d. Use the water in a way that does not infringe on another's riparian rights.

d. use the water in a way that does not infringe on another's riparian rights.

Deed restrictions generally concern

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

A general lien is a lien

placed against any and all property owned by an individual

A lien holder can change the priority of a junior lien by agreeing to

subordinate the lien

If three people bought a property and the type of ownership was not mentioned in the deed what kind of ownership will it be?

tenants in common

If a husband and wife own property together, the husbands dies intestate and the wife assumes sole ownership, how did they own the property

tenants in the entirety