Section 3:Elements of Real Property

What is the best way for a seller and buyer to demonstrate their agreement that the home's existing refrigerator and a dishwasher are included in the property sale? a. By including a bill of sale or agreement in the purchase contract b. By shaking hands on it on the day of the sale c. By verbal agreement after the sale d. By verbal agreement before the sale

a. By including a bill of sale or agreement in the purchase contract

This process has carried rock, sand, and soil and caused land build-up on Kim's land. a. accretion b. alluvion

a. accretion

Have the parties agreed (in writing) on whether an item will stay or go? a. agreement of the placement b. intention in placement

a. agreement of the placement

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. area preference

"I control the use of my property." a. control b. disposition c. possession d. enjoyment e. exclusion

a. control

What are emblements in real estate? a. cultivated crops b. detached fixtures c. free-standing plants d. open spaces

a. cultivated crops

What are two primary categories of real estate characteristics? a. economic b. material c. substantive d. physical

a. economic d. physical

Permanence of Investment a. economic characteristic b. physical characteristics

a. economic characteristic

Scarcity a. economic characteristic b. physical characteristics

a. economic characteristics

improvements a. economic characteristic b. physical characteristics

a. economic characteristics

A land's value can be affected by the changes that are made to it a. improvements b. location or area of preference c. permanence of investment d. scarcity

a. improvements

The right to access ponds, lakes, oceans, and other stationary bodies of water is ______. a. littoral b. mineral c. riparian d. water

a. littoral

There's no better way to spend a morning than sitting on the edge of your pier, sipping coffee and throwing a ball into the lake for your yellow lab to fetch. a. littoral b. riparian c. prior appropriation

a. littoral

Legal term that means the right to take products out of the soil a. profit b. license

a. profit

When a dispute occurs, courts tend to favor tenants and buyers over landlords and sellers. a. relationship of the parties b. method of annexation c. adaptability of use

a. relationship of the parties

The water has receded near Trevor's beachfront cottage, uncovering new land. a. reliction b. erosion

a. relicition

Land isn't interchangeable. One piece of land isn't exactly like another. a. uniqueness b. immobility c. indestructibility

a. uniqueness

the increase of land or property due to natural or man-made causes

accession

the process in which water carries rock, sand, and soil and causes land build-up

accretion

new deposits of land that are the result of accretion (common at the mouth of large rivers)

alluvion

Jessica and Harriet, two elderly sisters, plant two small flowering shrubs in their backyard. a. severance b. annexation

annexation

Sam wants a walkway from the house to the detached garage, so he constructs a path from the loose stones on his property. a. severance b. annexation

annexation

rapid loss of land

avulsion

What are improvements with regard to property? a. Another name for a building permit b. Artificial attachments to land that include items such as fencing, buildings, and walkways c. Natural fixtures that are part of the land and that enhance its value d. The right to increase the value of a property

b. Artificial attachments to land that include items such as fencing, buildings, and walkways

Which of the following is NOT one of the five basics tests that courts use to determine whether an item is a fixture or personal property? a. agreement of parties b. Legally permissible use c. method of annexation d. relationship of parties

b. Legally permissible use

If the sale of a property that includes soybean fields occurs before the crops are ready for harvest, which of the following is the best option for the parties to the transaction to take? a. The buyer should assume the crop transfers with the property. b. The contract between the parties should clarify the disposition of the crop. c. The seller should assume the crop does not transfer with the property. d. The seller should harvest the beans before the sale closes.

b. The contract between the parties should clarify the disposition of the crop.

What does the term appurtenance mean when applied to real property? a. The right to take products out of the soil b. The inherent or automatic ownership rights that are the natural consequences of property ownership c. An addition or improvement made to a person's land without his or her consent d. Permission to do something on another's land without actually possessing any interest or ownership in the land

b. The inherent or automatic ownership rights that are the natural consequences of property ownership

Cheryl marvels at this new deposit of land near the river, which is the result of accretion. a. accretion b. alluvion

b. alluvion

"I can sell, mortgage, or give away my property." a. control b. disposition c. possession d. enjoyment e. exclusion

b. disposition

The water has worn away the land near Alycea's seaside cottage. a. reliction b. erosion

b. erosion

Which of the following are included in the transfer of real property unless specifically excluded in writing? a. chattel b. fixtures c. personal possessions d. personal property

b. fixures

The geographic location of a piece of land is fixed; it can never be changed. a. uniqueness b. immobility c. indestructibility

b. immobility

Was the item intended to be temporary or permanent? a. agreement of the placement b. intention in placement

b. intention in placement

May be revoked by the owner at any time unless a termination date has been specified by contractual agreement a. profit b. license

b. license

Permission to do something on another's land without actually possessing any interest or ownership in the land a. profit b. license

b. license

A property's value is impacted by where it's situated and how interested people are in buying or living in the area a. improvements b. location or area of preference c. permanence of investment d. scarcity

b. location or area of preference

Can the item be removed without damaging what it's attached to? a. relationship of the parties b. method of annexation c. adaptability of use

b. method of annexation

immobility a. economic characteristic b. physical characteristics

b. physical characteristic

indestructibility a. economic characteristic b. physical characteristics

b. physical characteristics

uniqueness a. economic characteristic b. physical characteristics

b. physical characteristics

Who knew the small creek flowing along the edge or your backyard would be the prime setting for many hours of father-son bonding ... and friendly competitions to see who could catch the most fish. a. littoral b. riparian c. prior appropriation

b. riparian

Related to the legal test of a fixture, in the acronym MARIA, what do the two As stand for? a. Acceptability of the fixture and agreement of the parties b. Adaptability of item and accessibility to the property c. Adaptability of item to land's use and agreement of the parties d. Allowable use and acceptable use

c. Adaptability of item to land's use and agreement of the parties

Is the item being used as personal property or real property—has it been adapted or customized? a. relationship of the parties b. method of annexation c. adaptability of use

c. Adaptability of use

What's the best definition of personal property? a. Artificial attachments to land that include things such as fencing, buildings, and walkways b. Everything that's not real property c. land d. property that's fenced

c. Everything that's not real property

So, did you find MARIA helpful? What are the five tests to determine if an item is a fixture and part of the real estate? a. agreement of the parties b. method of accountability c. method of annexation d. intention of the person placing the item e. relationship of the parties f. adaptability of item for land's use

c. Method of annexation f. Adaptability of item for lands use e. Relationship of the parties d. Intention of the person placing the item a. Agreement of the parties MARIA

Sarah owns her own home. As part of her basic property rights, she has the right to decide who may or may not access the property. Which right is this? a. disposition b. enjoyment c. exclusion d. possession

c. exclusion

Personal property includes which of the following? a. built-in-microwave b. custom curtains c. free-standing TV d. in-ground pool

c. free-standing TV

Which of the following would be a description used for real property? a. above-ground b. free-standing c. in-ground d. moveable

c. in-ground

While improvements may deteriorate over time, the land itself can't be destroyed. a. uniqueness b. immobility c. indestructibility

c. indestructibility

If an item is permanently attached to a property, a court would most likely consider it a fixture if it passes which of the following tests? a. Adaptability of item to land's use. b. agreement of the parties c. method of annexation d. relationship of the parties

c. method of annexation

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. improvements c. permanence d. scarcity

c. permanence

Involves improvements, such as sewer, roads, and utilities, that are long-term, stable investments with relatively stable returns over time a. improvements b. location or area of preference c. permanence of investment d. scarcity

c. permanence of investments

"I can occupy my property in privacy." a. control b. disposition c. possession d. enjoyment e. exclusion

c. possession

Back when the west was yet to be won, Sandra's family was the first to find and use a pond, and they still have primary rights to it. a. littoral b. riparian c. prior appropriation

c. prior appropriation

Bart just toured his fourth patio home of the day. To help him remember what he saw in each one, he's making notes about décor, updates, and inclusions that will stay with the property. Which of the following items is NOT considered personal property and would therefore stay with a home? a. the area rug in the dining room b. the banker's lamps in the den c. the chandelier in the foyer d. The chimenea on the back patio

c. the chandelier in the foyer

Right to determine how others may use the property a. enjoyment b. possession c. control

control

Licensee Dionne pointed out to her buyer client the items in the house she was showing that would be considered real property. One of the key determinants, she explained, was whether the item were _______. 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. Permanently affixed to the property

What's the best definition of real property? a. Artificial attachments to land that include things such as fencing, buildings, and walkways b. Earth, soil, and air c. Land, plus all things permanently attached to it naturally or artificially d. Real estate, plus all of the interests, benefits, and rights included in ownership

d. Real estate, plus all of the interests, benefits, and rights included in ownership

Ron's company leased a building so that they could build an escape room experience. After operating for two years, their attendance (and thus their profits) started to drop significantly, so they decided it was time to close the location. When they started taking down the installation, they realized that some of the structures they built will damage the walls if they 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. Ron may take the fixtures as long as he repairs any damage caused by removal. According to the law, commercial tenants may remove trade fixtures when the lease ends, but only if they are detachable without damaging the property or if the damage is repaired.

Examples of real property include which of the following? 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. Shelves attached to the wall with brackets

What's the best definition of land? a. Everything that's not real property b. Land, plus all things permanently attached to it, naturally or artificially c. Real estate, plus all of the interests, benefits, and rights included in ownership d. The earth's surface, extending downward to the center of the earth and upward to infinity, including permanently attached natural objects

d. The earth's surface, extending downward to the center of the earth and upward to infinity, including permanently attached natural objects

"I have the right to use and enjoy my property." a. control b. disposition c. possession d. enjoyment e. exclusion

d. enjoyment

Tim and Tina Wells bought a home with absolutely beautiful perennial gardens in the back. The plantings were designed to bring birds, bees, and butterflies and to provide color for most of the year. When they did the final walkthrough, they were dismayed to see that many of the shrubs and flowering plants had been removed. They expected these plantings to be considered part of the real property because of the ________. a. adaption to the land b. agreement of the parties c. intention of placing the item d. method of annexation

d. method of annexation The method of annexation—planting in the ground—implies that the plantings were expected to stay with the land.

The right to access rivers, streams, and other flowing bodies of water adjacent to a property is called ______. a. land b. littoral c. mineral d. riparian

d. riparian

The concept that there's a finite amount of land a. improvements b. location or area of preference c. permanence of investment d. scarcity

d. scarcity

What is the name of a term which explains the complexity of property ownership rights and how rights for a single property can be "owned" by multiple parties at the same time? a. littoral rights b. physical component rights c. riparian rights d. the bundle of rights

d. the bundle of rights

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. uniqueness

Physical characteristics of land include its immobility, indestructibility, and ______. a. location b. permanence of investment c. scarcity d. uniqueness (non homogeneity)

d. uniqueness (non homogeneity)

Right to determine how, when, and whether the property is to be sold, leased, mortgaged, or transferred a. disposition b. exclusion

disposition

"I can keep others from trespassing on my property." a. control b. disposition c. possession d. enjoyment e. exclusion

e. exclusion

Right to (legally) use the property however the owner desires a. enjoyment b. possession c. control

enjoyment

As you know, the definition of real property includes interests, benefits, and rights. Can you identify what the rights are? There are five of them.

enjoyment, disposition, possession, control, exclusion

gradual loss of land due to natural forces

erosion

Right to refuse others access to your property a. disposition b. exclusion

exclusion

If a plant or shrub is under a certain size, it is acceptable for the seller to remove it from the property without the buyer's agreement. a. true b. false

false

It's acceptable for severance to occur after closing even if there is no written agreement between the seller and buyer regarding the item. a. true b. false

false

Permanent, man-made attachments that include things such as fencing, buildings, and walkways personal property, real property, or improvements

improvements

The earth's surface extending downward to the center of the earth and upward to infinity, including permanently attached natural objects land real property or real estate

land

Everything that's not real property personal property, real property, improvements

personal property

Right to occupy the property a. enjoyment b. possession c. control

possession

Land, plus all things permanently attached to it naturally or artificially land, real property, or real estate

real estate

Real estate, plus the interests, benefits, and rights automatically included with real estate ownership land, real property, or real estate

real property

Real estate, plus the interests, benefits, and rights automatically included with real estate ownership personal property, real property, or improvements

real property

gradual receding of water, which uncovers new land

reliction

Ann is going to sell her house, but first she digs up several of her irises and bags the rhizomes to take when she moves. a. severance b. annexation

severance

Jack decides to cut down a few trees on his property and use them for firewood. a. severance b. annexation

severance

Tim is thinking about selling his house, so he cuts down a dying pine tree in the back yard. a. severance b. annexation

severance

Annexation occurs when personal property is attached to real property, which makes it a fixture. a. true b. false

true

Cultivated crops, aka emblements, are considered personal property even though they are part of the soil. a. true b. false

true

Severance occurs when an item that was real property becomes personal property by detaching it (severing it) from the land. a. true b. false

true