REE Unit 2
Granted to a specific individual or business entity A. Easement in gross B. Easement appurtenant
A
The local planning and zoning commission is reviewing multiple applications at this week's meeting. Which of the following new developments is likely to be reviewed relative to a mixed-use zoning ordinance? A. A high rise with residential, retail, and entertainment space B. A one-story building with retail and office space C. A self-storage facility D. Four patio homes on six acres
A
The right to access ponds, lakes, oceans, and other stationary bodies of water is ______. A. Littoral B. Mineral C. Riparian D. Water
A
What does the metes and bounds system use to develop a property's legal description? A. Compass headings and directions B. Plat references C. Principal meridians and base lines D. Townships and sections
A
Which form of real property ownership (for owners other than married couples) means there's equal ownership shares with undivided possession rights? A. Joint tenancy B. Tenancy by the entirety C. Tenancy in common D. Tenancy in severalty
A
Which of the following describes an estate for an unknown period of time, with either party permitted to terminate the lease by giving notice to the other? A. Estate at will B. Estate for years C. Leasehold estate D. Life estate
A
Which of the following is an easement? A. A path providing neighborhood access to a pond cuts through part of Bill's property. B. Jeff installed a sidewalk next to his driveway, six inches outside his property. C. The city seized a formerly private parcel of land for public use. D. The state took ownership of Dawn's property when no heirs could be located following her death.
A
Which of the following is included with real property rights? A. Enjoyment B. Hazardous acts C. Right to destroy D. Right to encroach
A
Peter wants to set up a land trust so that his children can benefit from his real estate investments after he dies. He asked his financial advisor Tom to manage the trust, and Tom agreed. How is the trust created? A. Peter conveys the real estate to Tom. B. Peter dies. C. Peter purchases the real estate. D. Tom distributes income from the real estate investments.
A - A trust is created when the trustor conveys property to the trustee with instructions for holding and managing it on behalf of the beneficiaries.
Beneficiary interest in land that's part of a land trust is considered ______. A. Personal property B. Protected from creditors C. Real property D. Subject to partition
A - Beneficiary interest is considered personal property, even though the interest conveyed is real property.
An elementary school will receive title to 20 acres of land upon the death of the life tenant, Teddy Jr. The elementary school is the ______. A. Act of waste B. Remainderman C. Reversionary interest
B
Granted to a specific parcel of land and transfers with the land A. Easement in gross B. Easement appurtenant
B
How is timeshare ownership typically split? A. 12 months B. 52 weeks C. Half-years D. Years
B
If the land is described as "Beginning at the great oak 60 yards from the center of the Rock River that runs north to south through the county," what type of legal description is being used? A. Lot and block B. Metes and bounds C. Monument system D. Rectangular survey system
B
Related to the legal description of land, what is a monument? A. 43,560 square feet B. A permanent land marker sometimes used in legal descriptions C. A point from which elevations are measured D. The subdivision of air above the land
B
Personal Property is also known as
Chattel or Personalty
Three Methods of Land Description
Metes and bounds, lot and block, and rectangular survey system
Range lines run __.
North and South Parallel to meridians
Easement created through one party's continued, uninterrupted, exclusive, and adverse use of another's property for a specified period of time
Prescriptive easement
Right to determine how others may use the property
control
Right to determine how, when, and whether the property is to be sold, leased, mortgaged, or transferred
disposition
Right to (legally) use the property however the owner desires
enjoyment
The 3 physical characteristics of land
-immobility (can't move) -indestructibility (cant' destroy) -uniqueness (heterogeneity)
Allen and Lewis are friends who each recently purchased real estate. Allen purchased a patio home in a small town an hour from the city, while Lewis purchased a condo in a really hot area near the city center. Although they paid similar amounts for their properties, Lewis' condo is worth much more two years later. Which economic characteristic does this demonstrate? A. Area preference B. Improvements C. Permanence D. Scarcity
A
Clint was looking for alternatives to the traditional vacation condo rental for his family. He purchased the right to use a given set of facilities at any point throughout the year. What did Clint purchase? A. Campground membership B. Condo estate C. Timeshare estate D. Timeshare use
A
Property with ownership by more than one person is known as ______. A. Co-ownership B. Dual ownership C. Estate by severalty D. Property partnership
A
Freehold Estate
An inheritable estate with absolute ownership
What basic property right is NOT available to the holder of a life estate? A. Control B. Disposition C. Ownership D. Possession
B
Rights Associated with Real Property
Enjoyment, disposition, possession, control, and exclusion
on a rectangular survey system, the east-west line that runs through the initial point
base line
What is a real estate investment trust (REIT)? A. A company that owns and operates income-producing real estate and offers investment opportunities to shareholders in those properties B. An area of real estate in which brokers can specialize that caters to commercial investors C. An investment vehicle that allows real estate owners to defer capital gains taxes D. A short-term investment opportunity in which individual investors pool their money to purchase commercial properties
A - An REIT is a company that owns and operates income-producing real estate and offers investment opportunities to shareholders in those properties.
If you have a REIT that receives most of its revenue from property rental, what type of REIT do you have? A. Equity B. Leasehold C. REMT D. Tax-deferred
A - Equity REITs invest in a wide range of property types and receive most of their revenue from rents derived from those properties.
Which of the following are the two categories of REITs? A. Mortgage and equity B. Public and private C. Short-term and long-term D. Tax-deferred and tax-advantaged
A - The two categories of REITs are mortgage and equity.
Which of the following statements is true regarding trusts? A. Any asset may be held in a trust. B. The beneficiary can't be a minor. C. The trustee conveys title to the trustor. D. The trustor is the person who carries out the trustee's wishes.
A - Trusts are very flexible and accommodating. Any asset may be held in a trust.
Sam and Bridget are cousins who jointly own property. They are both named on the deed, they received title at the same time, they have the right of survivorship, and they each have equal interest and undivided rights of possession. What type of ownership do they have? A. Estate in severalty B. Joint tenancy C. Tenancy by the entirety D. Tenancy in common
B
Seth owns a property on a small island with six other property owners. Recently, Seth built a fishing pier along the water's edge; however, the pier is actually on his neighbor's property, which Seth has no rights to. What might this be an example of? A. Easement B. Encroachment C. Estate D. Eviction
B
Which of the following is an advantage of living in a PUD? A. A lower density of people than in suburban or rural areas B. Easy access to amenities C. No nearby businesses D. Reduced noise, compared to the suburbs
B
Martin placed all of his real estate investments in a trust, and the proceeds are distributed through the trust to his son Nathan. Martin still manages the properties indirectly, and Nathan currently benefits, as he's past the required beneficiary age of 18. What type of trust is this? A. Indirect trust B. Living trust C. Probate trust D. Testamentary trust
B - Because Martin is still living, this is a living trust.
Which of the following is NOT a characteristic of a corporation? A. Corporations are recognized legal entities. B. Corporations are tangible and nontaxable. C. Corporations are taxable. D. Corporations have tax rates separate from individual tax rates.
B - Corporations are conjured by law. Corporations don't physically exist, as in bricks, mortar, or even people. Corporations are intangible and taxable.
Which type of REITs specialize in owning certain building types, such as apartments or office buildings? A. Commercial cap REITs B. Equity REITs C. Mortgage REITs D. Tax-deferred REITs
B - Equity REITs specialize in owning certain building types, such as apartments, regional malls, selfstorage, office buildings, or hotels.
Which one of the following statements is true about land trusts? A. A beneficiary's interest in the land must be conveyed through a deed. B. Land trusts generally continue for a specified term, such as 10, 20, or 30 years. C. The identity of the trust owner is made public. D. The person who establishes the trust (the trustor) is rarely the beneficiary.
B - Land trusts generally continue for a specified term, such as 10, 20, or 30 years. At the end of the term, the trustee can extend the term or sell the land and provide the proceeds to the beneficiary.
When a land trust expires, the trustee must either extend the trust term or sell the real estate and ______. A. Give all of the proceeds to the attorneys involved B. Give the proceeds to the beneficiary C. Give the proceeds to the trustor D. Retain the proceeds
B - When a land trust term expires, the trustee must either extend the trust term or sell the real estate and provide the proceeds to the beneficiary.
Julian and Clara want to leave their real estate holdings to their children. If at all possible, they'd like those holdings to avoid the probate process after they're deceased. Their attorney recommends a land trust. Is there a type of trust they could establish that would avoid probate? A. No, all trusts go through probate. B. Yes, a C trust would avoid probate. C. Yes, a living trust would avoid probate. D. Yes, a testamentary trust would avoid probate.
C - A living trust is created during the trustor's lifetime, so the beneficiary is already using it when the trustor dies. This is how it escapes the probate process.
Widget Corporation just bought land on which it plans to build a new manufacturing facility. How is the land owned? A. It's a joint tenancy. B. It's held as a tenancy in common. C. It's owned as an estate in severalty. D. There isn't enough information to tell.
C - Corporations are legal entities and hold property similar to the way a sole proprietor or an individual does: in severalty.
Bridget has an investment portfolio that includes an equity REIT. Which of these is most likely to be part of the REIT's investment? A. Mortgages secured by commercial properties B. Mortgages secured by residential properties C. Retail shopping centers D. Undeveloped land parcels
C - Equity REITs invest in income-producing property, such as a retail shopping center. Undeveloped land isn't likely to produce income, and equity REITs don't invest in mortgage debt. That's the role of mortgage REITs
Which types of REITs don't buy properties, but instead invest in real estate debt? A. Equity REITs B. Long-term REITs C. Mortgage REITs D. Short-term REITs
C - Mortgage REITs invest in real estate debt. They make money by incurring short-term debt to acquire longer-term mortgage securities, earning the spread between the two rates.
Billie (Wilhelmina) Silva was just licensed as a broker, and she plans to hang out a shingle and go into business for herself. As a sole proprietor, which of the following business names can she NOT use? A. Billie Silva B. Billie Silva Realty C. Happy Homes Realty D. Wilhelmina Silva Realty
C - Sole proprietors can use their names or their names in some combination with a business name. However, using"Real Estate" in the business name is not allowed.
Lewis and Elliot started a real estate investment business together. After much discussion with their attorney, they decided to incorporate, but in such a way that they are treated like a partnership and don't have to pay corporate taxes. What form of business do they have? A. Double proprietorship B. Limited liability partnership C. Subchapter C corporation D. Subchapter S corporation
D - S corporations are corporations that are taxed as partnerships. They don't pay corporate income taxes, and shareholders may deduct losses on their taxes that represent their share of the corporation's losses.
All trusts have three parties: the trustor, the beneficiary, and the ______. A. Attorney in fact B. Broker C. Founder D. Trustee
D - The parties to a trust include the trust creator (commonly called the trustor), the trustee (the person who will carry out the terms of the trust), and the beneficiary (the person who receives the benefits of the trust).
Henry died, and his property wasn't held in a trust. Thus, his estate will go through probate to ensure his property is distributed to his beneficiaries in accordance with his will. The probate process often takes ______ before the property is distributed. A. 20 years or more B. A few days C. A few hours D. A year or more
D - The probate process can take up to a year or longer before the property is disbursed to the beneficiaries.
Darren set up a land trust so that his children could benefit from his real estate investments after he dies. He asked his financial advisor Tom to manage the trust. Darren is the ______. A. Beneficiary B. Executor C. Trustee D. Trustor
D - The trustor is the person who creates the trust. The trustee is the person who carries out the person's wishes.
The earth's surface, extending downward to the center of the earth and upward to infinity, including permanently attached natural objects
Land
Gene and Alex bought a property that backed up to a neighborhood park. The previous owner mentioned that ever since the park was built eight years ago, the next door neighbor who works at the park has cut through the yard to get to the park rather than going around via the streets, which saves about half a mile. What kind of easement is this? A. Easement by prescription B. Easement in gross C. Express easement D. Visible easement
A
John and Tara have lived in their home for 23 years and are excited to move to Florida for retirement. As homeowners, what right allows them to sell their home? A. Disposition B. Enjoyment C. Exclusion D. Possession
A
June and Joel are considering two properties. One is a townhome and one is a condominium. Which of the following is a primary difference between the two? Condominium owners do not own the land beneath their units. Condo owners pay association fees, while townhome owners do not. The square footage is different. Townhome owners do not own the land beneath their units
A
Karen's house was recently foreclosed on to pay off a lien on her home. What happens to any extra money after the lien and expenses of the sale are paid? A. It goes to Karen. B. It's given to a local government-approved charity. C. The bank receives the rest as compensation. D. The state government receives the extra funds.
A
Kurt bought a vacant lot in a development that was 85% completed. When he started working with the builder to lay out where the house and driveway would be, they found he would need an easement because his driveway would spill over onto the adjacent lot by a few feet. Kurt owns the _______ estate or tenement. A. Dominant B. Gross C. Prescriptive D. Servient
A
Sarah inherited Hank's estate but failed to pay property taxes on the condominium, causing her eventual loss of the condo. A. Act of waste B. Remainderman C. Reversionary interest
A
Siblings Julia and Gene are co-owners of a small retail building in which a tanning salon is currently operating. Gene really wants to leave his ownership interest to his son when he dies, but the way in which they own the property doesn't allow him to do so. What type of ownership do they have? A. Joint tenancy B. Tenancy by the entirety C. Tenancy in common D. Tenancy in severalty
A
Legal Description
A description of a specific parcel of real estate complete enough for an independent surveyor to locate and identify it.
In many areas of the country, Marcellus Shale has become a hot commodity. This type of rock produces gas, which can be mined, stored, and sold. Abe learned that his family farmstead sat over a rich deposit of Marcellus Shale. What type of rights does Abe have relative to this shale? A. Air rights B. Sub-surface rights C. Surface rights D. Water rights
B
What type of lien protects a laborer who provides new construction on a property but does not get paid? A. Judgment lien B. Mechanic's lien C. Mortgage lien D. Tax lien
B
Which of the following statements is true regarding timeshare estates? A. Timeshare estates are illegal. B. Timeshare estates can be sold or passed down to heirs. C. Timeshare estates cannot be passed down to heirs. D. Timeshare estates cannot be sold.
B
"Beginning at a stake and stones about 30 feet from the center of the brook that runs across the road Southwesterly from the dwelling house of the late Henry Nelson ..." is an example of what type of legal description? A. Benchmark B. Lot and block C. Metes and bounds D. Rectangular
C
A fence that's placed two feet onto a neighbor's property line meets the legal definition of _______. A. A conveyance B. An easement C. An encroachment D. A seisin
C
Brandon is interested in purchasing a piece of property, but before doing so, he'd like to verify the accuracy of the legal description. Which of these options will accomplish this? A. Having a home inspection performed B. Having an appraisal performed C. Having a survey conducted D. Looking up the property on Google
C
Jacob is a developer who purchased 78 acres and had it subdivided into half-acre lots. He decided to install sewer and underground electric for the entire subdivision, because he thinks that he will easily recoup his initial infrastructure investment. This is an example of which economic characteristic of real property? A. Area preference B. Immobility C. Permanence of investment D. Scarcity
C
Morty, a land surveyor, was called out to survey a property. After doing some research, he located the legal description for the property in question. Now, if he could just find the point of beginning located at the iron pin on the southerly line of state route 117, 30 feet east of the oak tree next to Bear Creek. What type of legal description is Morty working with? A. Benchmark B. Datum C. Metes and bounds D. Rectangular government survey
C
Papa conveyed 20 acres of land to Teddy Jr. for life. Upon Teddy Jr.'s death, the land will go back to Papa. A. Act of waste B. Remainderman C. Reversionary interest
C
Rhonda and Oliver bought an old schoolhouse with the hope of transforming it into a residence. They owned the property as joint tenants. After Oliver died, how did Rhonda own the building? A. As a joint tenant with rights of survivorship B. As a tenant in common with Oliver's heirs C. In severalty D. In trust
C
When Shauna looked at the legal description of the property she was interested in purchasing, she read the following: "Beginning at the corner of State Route 61 and Hallowell Road, north for 314 feet, then southwest for 193 feet." In this description, what does "north for 314 feet" represent? A. A benchmark B. A bound C. A mete D. A monument
C
Which legal description method uses compass headings and directions? A. Block and grid B. Lot and block C. Metes and bounds D. Rectangular government survey
C
Which of the following best describes condominium ownership? A. The building belongs to the unit owner, and all owners also share in the ownership of the common elements. B. The space inside the unit itself belongs to the condominium association, and owners also share in the ownership of the common elements. C. The space inside the unit itself belongs to the unit owner, and all owners also share in the ownership of the common elements. D. The structural unit belongs to the condominium association, and owners share in the ownership of the common elements.
C
Which of the following would be considered personal property? A. Built-in microwave B. Custom curtains C. Free-standing TV D. In-ground pool
C
Which one of the following statements about community property rights is true? A. All 50 states have community property rights. B. Community property rights are illegal in all 50 states. C. Nine states have community property rights. D. Only nine states out of 50 do not have community property rights.
C
Stan and Emile are arguing over their shared lot line, since Stan thinks that Emile planted a privet hedge on Stan's property. Stan filed a civil legal action against Emile. Which of these would the court use to determine the actual lot line? A. Aerial photographs B. An affidavit from a surveyor C. Legal descriptions of both properties D. Testimony from long-time neighbors
C - Recorded legal descriptions, often in conjunction with a survey or surveyor's opinion of what the legal description indicates, may be used to determine ownership boundaries.
A group of 26 different families have shared ownership of a vacation condominium. Each family spends two weeks annually at the condominium. Legally, the condominium is considered a ______. A. Co-op B. Foreclosure unit C. Rental property D. Timeshare property
D
A professional, on-site measurement of the lot lines and dimensions of a property is known as ______. A. An abstract B. An appraisal C. An inspection D. A survey
D
A property has just been foreclosed on. Which of the following describes the rules regarding lien priority? A. Junior and senior lien holders take priority and must prorate the amount they receive based on amount owed B. Largest liens are paid first, then in order of priority: property taxes, mechanic's liens, all others by date of filing C. Mechanic's liens take priority, with all others dependent on date filed. D. Property tax liens take priority, with all others following a "first in time" rule.
D
An easement dictates that property owner A gives the right to property owner B to use a portion of the property. Which term describes property A? A. Domain estate B. Dominant estate C. Service estate D. Servient estate
D
Annette really wants to move to San Francisco, but she's unsure whether she'll be able to afford to live there. Housing is very expensive because there simply is no room to build any new housing units. Which economic characteristic does this reflect? A. Area preference B. Improvements C. Permanence D. Scarcity
D
Brandon's home has been foreclosed on. He had an outstanding loan balance of $145,000, which he owed to his lender, XYZ Lending for a loan taken out in 2009. There's also a lien against the property recorded in 2014 for an unpaid student loan of $25,000, and a HELOC established in 2012 of $30,000, of which he'd used $10,000. If his foreclosure nets $150,000, how much will each creditor be paid? A. The student loan will be paid off, then XYZ Lending will receive $125,000 of what it's owed, and his HELOC will receive nothing. B. The student loan will be repaid, then XYZ Lending and the HELOC lender will split the remaining proceeds. C. XYZ Lending and the HELOC will each get half of what they're owed, and the lien holder for the student loan will not be repaid. D. XYZ Lending will receive $145,000, the HELOC lender will receive $5,000, and the lien holder for his student loan will not be repaid.
D
Eva, Stella, and Lynn owned a vacation home two blocks from the beach. Sadly, Stella passed away over the winter, so when summer arrived, Eva and Lynn shared the home with Stella's nephew Drew, to whom Stella willed her share of the property. What type of ownership is this? A. Estate in severalty B. Joint tenancy C. Tenancy by the entirety D. Tenancy in common
D
If the Bakers allow their neighbors, the Crandalls, an easement or right of way through their owned field, the Bakers are the _________ tenement in this example. A. Appurtenant B. Dominant C. Gross D. Servient
D
If the land is described as "N ¼ NW ½ Section 4, Township Bailey," what type of legal description is being used? A. Lot and block B. Metes and bounds C. Monument system D. Rectangular survey system
D
Licensee Dionne pointed out to her buyer client the items that would be considered real property. What is one of the key characteristics of an item that is real property (also known as a fixture)? A. Internal or external to the house B. Made of the same material as an interior or exterior wall C. Over or under a certain value D. Permanently affixed to the property
D
Littoral rights allow property owners to take which of the following action? A. Construct a dock to moor their boat. B. Irrigate from a stream running through the property. C. Navigate the river running through the property. D. Use the water from the lake bordering the property.
D
Nellie and Victor own a suburban ranch home and fell behind on paying their property taxes when Victor lost his job last year. Victor is working again, but they still haven't saved enough to pay their back taxes. They're worried that the county may begin foreclosure proceedings. What type of lien is this? A. Attachment B. General C. Special assessment D. Specific
D
Ron's company leased a building so that it could build an escape room experience. After operating for two years, attendance (and thus its profits) started to drop significantly, so it decided to close the location. When the workers started taking down the installation, they realized that some of the structures would damage the walls if they were to try to remove them. Which of these is true about these trade fixtures? A. If Ron leaves them in place and the lease expires, he has three months to remove them. B. Ron is required to leave the fixtures if they're attached. C. Ron is required to take the fixtures and return the premises to its original condition. D. Ron may take the fixtures as long as he repairs any damage caused by removal.
D
Steven owns 114 acres of wooded, rural land. The abundance of wildlife on his property means that his friends are always asking for permission to hunt on it during various game seasons. If Steven gives a friend permission to hunt on his land, it can be said that he has given his friend a ______. A. Covenant B. Easement C. Grant D. License
D
The right to access non-navigable rivers, streams, and other flowing bodies of water adjacent to a property is called ______ rights. A. Land B. Littoral C. Mineral D. Riparian
D
What does the concept "first in time" refer to when discussing lien priority? A. First mortgages are paid over property taxes. B. First mortgages are paid over time. C. Junior lien holders will not be paid. D. Liens are paid based on date of filing.
D
What type of timeshare involves a buyer agreeing to pay a one-time purchase price and an annual maintenance fee, and in return selecting an accommodation time and having the right to use the unit for a specified number of years? A. Lifelong B. Permanent C. Renewable D. Vacation
D
What's the difference between reversionary interest and remainder interest in a property? A. Remainder interest applies only to heirs. B. Reversionary interest only applies to spouses. C. With remainder interest, the property remains with the owner, even when a life tenant possesses the property. D. With reversionary interest, the property reverts to the owner after the death of the life tenant.
D
Which of the following is an example of a fixture that is real property? A. Above-ground pool and pool accessories B. Bathroom mirror hanging on a hook C. Photos and wall hangings D. Shelves attached to the wall with brackets
D
Which physical characteristic of land addresses the concept that land isn't interchangeable, and one piece of land isn't exactly like another? A. Immobility B. Indestructibility C. Permanence of investment D. Uniqueness
D
Which type of survey system is also known as the public land survey system (PLSS)? A. Address and zip code B. Lot and block C. Metes and bounds D. Rectangular survey
D
Why would additional documentation and disclosures be required for the purchase of a condo? A. Federally mandated lead paint disclosures B. Lender requirements C. Material defects that must be disclosed D. The unit is governed by a homeowners association
D
Easement typically created for the purpose of ingress and egress
Easement by way of necessity
Township lines run __.
East and West Parallel to base lines
Written documents that typically outline the easement's terms, location, and purpose
Express easement
what does MARIA stand for?
Method, Adaptability, Relationship, Intention, Agreement - Method of annexation, Agreement of the parties, Relationship of the parties, Intention of the person placing the item, Adaptability of item for land's us
Estate in severalty
One person owns the property, and all other interests are severed
Real estate, plus all of the interests, benefits, and rights included in ownership
Real Property
survey
a professional on-site measurement of the lot lines and dimensions of a property, including the location of any improvements (such as a house) on the lot, any encroachments that may exist, and any easements of public record.
An encumbrance on the property of a defendant in a pending lawsuit for money damages under special circumstances, such as when the defendant goes into hiding
attachment
What are the two characteristic categories of real estate?
economic (value) + physical (traits of the land)
Right to refuse others access to your property
exclusion
written documents that typically outline the easement's terms, location, and purpose.
express easement
Gene has owned his home in New Mexico for six years. Four years ago, he married Jade. New Mexico is a community property state, therefore, upon their marriage, Jade is entitled to community property rights. True or False.
false
Sandy and John are married. Before they married, Sandy purchased an apartment in New York in her name only. John has property rights. True or False.
false
Real Property is also referred to as
land tenements / hereditaments
This defines the legal relationship between the parties who sign the lease. It grants possession, but not title, to the tenant, and is for a limited period of time.
leasehold estate
4 types of encumbrances
liens, easements, encroachments, private land controls (deed restrictions, covenants, etc.)
Right to occupy the property
possession
on a rectangular survey system, the north-south line that runs through the initial point
principal meridian
on a rectangular survey system, the North-south lines that don't run through the initial point
range lines
The 4 economic characteristics of land
scarcity, improvements, permanence of investment, area preference (situs)
mete
the direction and distance of a line forming the boundary of the property
bounds
the physical features that define the boundaries of the land (tree, creek, owners of land bordering the property, and even piles of rocks)
on a rectangular survey system, the East-west lines that don't run through the initial point
township lines
Madge and Steve are married. They decide to purchase a home in Arizona, with Steve as the sole owner, yet Madge still has property rights. True or False.
true