Real Estate - Questions on Chapter 3
An item of personalty that is affixed to realty so as to be used as a part of it is A) a fixture (B) a chattel (C) personal property (D) an encumbrance
A) a fixture
Which states recognize community property? (A) California and Texas (B) New York and New Jersey (C) Ohio and Pennsylvania (D) Virginia and West Virginia
(A) California and Texas
Which is not true of a joint tenancy? (A) Its use is limited to a husband and wife. (B) It offers the right of survivorship. (C) It is a form of co-ownership. (D) It differs from tenancy in common.
(A) Its use is limited to a husband and wife
A house has a built-in bookcase and elaborate chandelier. The buyer is also getting a dinette set and a table lamp. Which is correct? (A) The built-in bookcase and chandelier are included in the real estate contract. The lamp and dinette set are chattels and are/ sold separately. (B) All the items must be included in the real estate contract (C) The chandelier is real estate; the other items must be sold on a bill of sale. (D) All of the items are real estate because they are sold with the house.
(A) The built-in bookcase and chandelier are included in the real estate contract. The lamp and dinette set are chattels and are/ sold separately.
Which of the following is true about eminent domain? (A) The process used to acquire the property is called condemnation. (B) Governments can use it whenever and wherever they want. (C) Governments can pay whatever amount they like. (D) Constitutionally, the right of eminent domain is guaranteed by the First Amendment.
(A) The process used to acquire the property is called condemnation. Governments
A fee simple estate is (A) a freehold estate (B) a life estate (C) an estate for years (D) an estate in abeyance
(A) a freehold estate
Which of the following would not be real property? (A) a lease for one month (B) an easement (C) permanent ownership of mineral rights on someone else's land (D) a life estate
(A) a lease for one month
Dower rights are rights that assure that CA) a spouse receives a certain portion of his/her deceased spouse's estate (B) dowagers may have property rights (C) a homeowner cannot lose his entire investment in his home (D) husbands and wives share equally in property acquired during marriage
(A) a spouse receives a certain portion of his/her deceased spouse's estate
Fifty feet of land was added to Apple's farm because a river changed its course. This is an example of (A) accretion (B) avulsion (C) riparian rights (D) usufructory rights
(A) accretion
In order to reach the beach, the Smiths have a permanent right-of-way across their neighbor's beachfront property. The Smiths own (A) an easement (B) a license (C) a deed restriction (D) a lien
(A) an easement
A person who has some rights to use land, but not all possessory rights, is said to have (A) an interest in land (B) an estate in land (C) a life estate in land (D) a tenancy in common
(A) an interest in land
Personal property is best defined as (A) anything that can be owned aside from real estate (B) intangibles (C) fixtures attached to real estate (D) furniture and built-in appliances
(A) anything that can be owned aside from real estate
After Harry bought his apartment, he started receiving his own property tax bills. This indicates that he has bought into a (A) condominium (B) cooperative (C) leasehold (D) syndicate
(A) condominium
A seller who wants to control the future use of property could insert a(n) __________________ when transferring ownership. (A) deed restriction (B) zoning clause (C) zip lock (D) exculpatory clause
(A) deed restriction
Which of the following is real estate? (A) fence, driveway, shrubs (B) a dishwasher in a box that needs to be installed (C) a cord of timber that has been cut (D) a piece of paper on which is a written and signed deed
(A) fence, driveway, shrubs
Which type of property can become real estate by the manner of physical attachment? (A) fixtures (B) emblements (C) portable appliances (D) deeds
(A) fixtures
A tenant who stays without permission after a lease expires is a (A) holdover tenant (B) tenant at will (C) squatter (D) eviction
(A) holdover tenant
A person who dies leaving no will is said to have died (A) intestate (B) without heirs (C) unbequeathed (D) unwillingly
(A) intestate
When a joint tenant dies, his or her share (A) is owned by the surviving joint tenants in proportion to their ownership share (B) has its share of mortgage debt canceled (C) escheats to the state (D) becomes community property
(A) is owned by the surviving joint tenants in proportion to their ownership share
Allen has given Betty the right to park in his driveway for three weeks. This right is best called (A) license (B) easement (C) right of way (D) lease,
(A) license
Tenancy in severalty refers to (A) ownership by one person or one entity only (B) ownership by two persons only (C) ownership by at least three persons (D) a special form of joint ownership available only to married couples
(A) ownership by one person or one entity only
Mr. Jones died: his will left to Mrs. Jones the right to use, occupy, and enjoy Mr. Jones's real estate until her death. At that time, the real estate is to become the property of their son Willis. Willis is a (A) remainderman (B) life tenant (C) joint tenant (D) tenant in common
(A) remainderman
A person who has color of title to land has (A) the appearance of title (B) forgeries of state title papers (C) a right to one-half the income from the land (D) foreign ownership
(A) the appearance of title
An abstract of title contains (A) the summary of a title search (B) an attorney's opinion of title (C) a registrar's certificate of title (D) a quiet title lawsuit
(A) the summary of a title search
Littoral rights for properties abutting the ocean give ownership (A) to the mean high-water mark (B) to a point 100 feet from the shore (C) to the state ownership line (D) to a point designated by the U.S. Army Corps of Engineers
(A) to the mean high-water mark
An easement by prescription may establish (A) use of property (B) a claim to title (C) who owes back taxes (D) homestead rights
(A) use of property
A tenancy at will expires (A) when either the owner or the tenant decides, or upon the death of either (B) on the termination date stated in the lease (C) every year unless renewed (D) on the date written in the tenant's will
(A) when either the owner or the tenant decides, or upon the death of either
A city wants to buy land to build a convention center. Which of the following is true regarding eminent domain? (A) It is not allowed because a convention center is not a necessity. (B) It can be applied with just compensation paid for the land (C) It will be to0 costly. (D) Only federal and state governments have that power.
(B) It can be applied with just compensation paid for the land
Which of the following is most accurately described as personal property? (A) a fixture (B) a chattel (C) an improvement (D) realty
(B) a chattel
Adverse possession may establish (A) use of property (B) a claim to title (C) who owes back taxes (D) homestead rights
(B) a claim to title
In a cooperative apartment arrangement, the building and land are owned by (A) the state (B) a corporation (C) husband and wife (D) a condominium
(B) a corporation
I give my brother permission to live in a house I own until the death of his daughter. This is (A) an ordinary life estate (B) a life estate pur autre vie (C) a leasehold interest (D) a tenancy for life
(B) a life estate pur autre vie
Which of the following is a property improvement? (A) a pool table in a basement (B) an in-ground swimming pool (C) an above-ground plastic swimming pool (D) a merger of two REITS treated as a pooling of interests
(B) an in-ground swimming pool
A person who has some rights to land, but not all the possessory rights, has (A) a life estate (B) an interest in land (C) an estate at will (D) a fixture
(B) an interest in land
A fee simple estate is best described as (A) ownership for one's lifetime (B) complete ownership, subject to eminent domain, zoning, taxation, and other government land use limitations (C) interest in a property as limited by a deed (D) ownership as long as one pays a fee for title
(B) complete ownership, subject to eminent domain, zoning, taxation, and other government land use limitations
Recording a deed at a county courthouse gives (A) actual notice to the world of the existence of a document (B) constructive notice to the world of the existence of a document (C) notice to title companies (D) no notice at all
(B) constructive notice to the world of the existence of a document
A proprietary lease is a unique characteristic of what form of ownership? (A) condominium (B) cooperative (C) timeshare (D) PUD
(B) cooperative
Upon marriage in community property states real property previously owned individually by each party A) becomes jointly owned (B) doesn't change (C) becomes community property (D) is held by a tenancy in common
(B) doesn't change
When title to property is taken as tenants in common, (A) all parties have an equal interest (B) each tenant in common may sell his interest (C) each tenant in common must pay rent to the landlord (D) when a tenant dies, the share is distributed equally to the surviving tenants in common
(B) each tenant in common may sell his interest each
Generally, the taking of private land by governmental bodies for public use is governed by due process of law and is accomplished through (A) exercise of police power (B) eminent domain (C) reverter (D) escheat
(B) eminent domain
Which of the following provides the most complete form of ownership? (A) fee tail (B) fee simple absolute (C) fee on condition (D) leasehold
(B) fee simple absolute
When a tenant in common dies, his or her interest (A) is inherited by the surviving tenants in common (B) is inherited by his or her heirs in accordance with his or her will (C) is inherited by the remainderman (D) escheats to the state
(B) is inherited by his or her heirs in accordance with his or her will
Real estate is best defined as (A) land and buildings (B) land and all permanent attachments (C) land and everything growing on it (D) land only
(B) land and all permanent attachments
An easement by prescription is needed by a person whose property is (A) on a body of water (B) landlocked (C) fenced (D) zoned
(B) landlocked
A widower dies without making a will. His surviving children inherit the property by (A) escheat (B) law of intestate succession (C) estover (D) emblements
(B) law of intestate succession
Mr. Jones died: his will left to Mrs. Jones the right to use, occupy, and enjoy Mr. Jones's real estate until her death. At that time, the real estate is to become the property of their son Willis. Mrs. Jones is a (A) remainderman (B) life tenant (C) joint tenant (D) tenant in common
(B) life tenant
How is a fixture best defined? (A) personal property included in the sale of real estate (B) personal property more or less permanently attached to real estate (C) personal property left with real estate when sold (D) any chandelier or ceiling light
(B) personal property more or less permanently attached to real estate
Three people bought property with the understanding that if one of them died, his heirs would inherit that interest. Most likely they took title under which type of estate? (A) joint tenancy (B) tenancy in common (C) estate in common (D) tenancy by entireties
(B) tenancy in common
A life estate pur autre vie is one in which (A) the life tenant must occupy the premises and may not lease them to anyone else (B) the duration of the life estate is based upon the duration of the life of someone other than the life tenant (C) the life tenant has died (D) the life tenant may not occupy the property himself/herself
(B) the duration of the life estate is based upon the duration of the life of someone other than the life tenant
Real property is (A) the land (B) the land, the improvements, and the bundle of rights (C) the land and the right to possess it (D) the land, buildings, and easements
(B) the land, the improvements, and the bundle of rights
An easement is (A) the right to use the property of another for any purpose (B) the right to use the property of another for a specific purpose (C) a private contract and does not permanently affect the realty (D) the right to keep another from using one's land illegally
(B) the right to use the property of another for a specific purpose
Governmental land use planning and zoning are important examples of (A) exercise of eminent domain (B) use of police power (C) deed restrictions (D) encumbrance
(B) use of police power
Joint ownership of real property by two or more persons, each of whom has an undivided interest (not necessarily equal) without right of survivorship, is (A) a tenancy in partnership (B) a tenancy by the entireties (C) a tenancy in common (D) a leasehold tenancy
(C) a tenancy in common
No one seems to own the vacant land next to Mary's house, so she has used it for a pasture for many years. She may have a good chance of obtaining ownership by (A) poaching (B) foreclosure (C) adverse possession (D) eminent domain
(C) adverse possession
Fifty feet of beachfront land was removed by a flood. This is an example of (A) riparian rights (B) estovers (C) avulsion (D) emblements
(C) avulsion
Your grandfather died intestate, and you received his house. Title was acquired (A) by will (B) by estovers (C) by descent (D) by mitigation
(C) by descent
Which is not considered a permanent attachment to land? (A) anything growing on it (B) fixtures (C) chattels (D) anything built upon the land
(C) chattels
A lien is a (A) form of property tax (B) tуpе of lease (C) claim against a property with the property being the security for the claim (D) form of foreclosure
(C) claim against a property with the property being the security for the claim
Approximately 41 states do not recognize (A) partnerships (B) joint tenancy (C) community property (D) tenancy in common
(C) community property
The exercise of eminent domain results in (A) seizure (B) unjust compensation (C) condemnation (D) government authority
(C) condemnation
One who owns a life estate cannot (A) sell his interest (B) mortgage his interest (C) devise his interest (D) lease his interest
(C) devise his interest
A person who inherits real estate under the terms of a will is a(n) (A) bequest (B) life estate (C) devisee (D) executor
(C) devisee
What type of rights does not refer to the use of water? (A) riparian (B) usufructory (C) dower (D) littoral
(C) dower
The vertical boundaries of land ownership are best described as (A) from the center of the earth to 1,000 feet above ground (B) from the surface of the earth to 1,000 feet below ground (C) from the center of the earth upward to the heavens above (D) from the surface of the earth to 1,000 feet below ground and 1,000 feet above ground
(C) from the center of the earth upward to the heavens above
A person who owns an undivided interest in land with at least one other and who has the right of survivorship is said to be a (A) tenant in common (B) tenant at will (C) joint tenant (D) tenant at sufferance
(C) joint tenant
A person who has permission to use land but has no other rights has A) tenancy at sufferance (B) tenancy in common (C) license to use (D) a fee simple estate
(C) license to use
Morris grants the use of a property to his daughter, Susie, for her lifetime. When Susie dies, the property will go to Morris's son, Herman. Susie has a (A) remainder interest (B) life estate pur autre vie (C) life estate (D) riparian rights
(C) life estate
Mr. Jones died: his will left to Mrs. Jones the right to use, occupy, and enjoy Mr. Jones's real estate until her death. At that time, the real estate is to become the property of their son Willis. Mrs. Jones has a (A) fee simple estate in joint tenancy with Willis (B) fee simple estate as tenant in common with Willis (C) life estate (D) life estate in joint tenancy with Willis
(C) life estate
Which of the following is not realty? (A) a fee simple estate (B) a leasehold for indefinite duration (C) lumber (D) a life estate
(C) lumber
Which of the following is not corporeal property? (A) a building (B) growing crops (C) monthly rent (D) a fixture
(C) monthly rent
The lumber for a deck that has not yet been built is (A) a trade fixture (B) real estate (C) personal property (D) a fixture
(C) personal property
The court where an estate is settled is called the _____________ court in most jurisdictions. (A) claims (B) appeals (C) probate or surrogate's (D) tax
(C) probate or surrogate's
Upon expiration of a life estate, the property passes to the (A) life tenant (B) beneficiary (C) remainderman (D) trustee
(C) remainderman
The type of co-ownership that allows an owner's property to be left to his or her heirs is (A) tenancy by the entirety (B) tenancy in severalty (C) tenancy in common (D) joint tenancy
(C) tenancy in common
Two unmarried individuals own a house with equal interests. What form of ownership is most likely? (A) tenants by the entireties (B) limited partnership (C) tenancy in common (D) condominium
(C) tenancy in common
The process whereby a person holding a claim against property can have the property sold to pay the claim is (A) a lien (B) a covenant (C) a mechanic's lien (D) a foreclosure
(D) a foreclosure
Which of the following is not considered a permanent attachment to land? (A) improvements to land (B) a fixture (C) trees growing on the land (D) a load of bricks
(D) a load of bricks
The bundle of rights refers to (A) the U.S. Constitution's Bill of Rights (B) sticks carried to a property as firewood (C) the right to sell your property (D) a set of legal rights to property that an owner enjoys
(D) a set of legal rights to property that an owner enjoys
A person receives title to land by virtue of having used and occupied it for a certain period of time, without actually paying the previous owner for it, receives title by (A) will (B) descent (C) alienation (D) adverse possession
(D) adverse possession
Littoral rights apply to land adjacent to (A) a city's reservoir (B) man-made lakes and ponds (C) oceans or seas (D) all of the above
(D) all of the above
Which of the following is an encumbrance on real estate? (A) a restriction on use (B) a mortgage loan (C) an easement (D) all of the above
(D) all of the above
A freehold estate is (A) one acquired without paying anything (B) any leasehold (C) any estate wherein one may use the property as he wishes (D) an estate of uncertain duration
(D) an estate of uncertain duration
As used in real estate practices, the land of a riparian owner borders on (A) a river (B) a stream (C) a moving watercourse (D) any of the above
(D) any of the above
A person who appears to own property but does not is said to have (A) good title (B) recorded evidence of title (C) constructive notice (D) color of title
(D) color of title
The property that benefits from use of an easement is the __________ estate. (A) servient (B) life (C) credit (D) dominant
(D) dominant
The right of - gives the state ownership of property left by one who died without heirs and without a will. (A) estovers (B) intestate (C) emblements (D) escheat
(D) escheat
The most extensive form of ownership in real estate is (A) a paid-up fee (B) life estate (C) fee tail (D) fee simple
(D) fee simple
Land can be owned apart from the buildings on it under the arrangement known as a (A) net lease (B) life estate (C) remainder (D) ground lease
(D) ground lease
Susan lived rent free in a remote cabin, with the owner's permission, for 40 years. Susan (A) owns the property under adverse possession (B) owns the property under prescription (C) must pay rent to the owner (D) has no ownership interest
(D) has no ownership interest
Man-made additions to land are known as (A) chattels (B) trade fixtures (C) easements (D) improvements
(D) improvements
Two people who own undivided interests in the same realty, with right of survivorship, have (A) tenancy in severalty (B) tenancy in common (C) tenancy at sufferance (D) joint tenancy
(D) joint tenancy
Helen and David, who are not married, want to buy a house together. To ensure that if one dies the other automatically becomes the full owner, their deed must state that they are (A) tenants in common (B) tenants in severalty (C) tenants by the entirety (D) joint tenants
(D) joint tenants
The right to use, occupy, and enjoy real estate for a limited amount of time specified in a lease is (A) fee simple (B) cooperative (C) leased fee estate (D) leasehold estate
(D) leasehold estate
Owners of cooperative apartments and condominiums both (A) own real estate (B) own shares in a corporation (C) must live full-time in their units (D) must pay assessments
(D) must pay assessments
A condominium owner can avoid payment of his or her share of the common expenses by doing which of the following? (A) not using certain common elements (B) abandoning her apartment (C) defaulting on mortgage payments (D) none of the above: payment cannot be avoided
(D) none of the above: payment cannot be avoided
An easement can apply to use by (A) people only (B) property only (C) government only (D) people or property
(D) people or property
Riparian rights apply to land along (A) any body of water (B) ocean waters (C) ripe vegetables and fruits (D) rivers and streams
(D) rivers and streams
A person holding title to real property in severalty would most likely have (A) a life estate (B) an estate for years (C) ownership in common with others (D) sole ownership
(D) sole ownership
Unmarried domestic partners wish to buy a house using an ownership agreement whereby if one dies, that party's heirs become owners of the share. Which form of ownership should they use? (A) joint tenancy (B) tenancy in severalty (C) limited partnership (D) tenancy in common
(D) tenancy in common
Larry, as a tenant, rents a house for one year. Larry has the right to (A) sell the house (B) assign or sublet the house (C) borrow against the house (D) use and possess the property for one year upon payment of rent
(D) use and possess the property for one year upon payment of rent
