Unit 5:National Ownership 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 neighbor's driveway for access.

What is a lien? A promissory note A clouded title A type of easement A creditor's claim

A creditor's claim

How can a junior lien's priority be changed? The lienee can "promote" one lien above another at the request of a lienee. A lienor can sue to have its lien reclassified as superior. If the holder of a superior lien dies, an inferior lien holder automatically moves up on the schedule of priority. A lienor can voluntarily agree to subordinate its lien to another lien.

A lienor can voluntarily agree to subordinate its lien to another lien.

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

What kind of interest does a lienor usually have in the liened property? A possessory interest Legal ownership of a dominant tenement A legal interest in a pro rata share of the property An equitable interest, except a mortgage lienor in a title-theory state

An equitable interest, except a mortgage lienor in a title-theory state

Which of the following is NOT a legal property of liens? Attaches to the property. Terminates when payment is recorded. Generally conveys an equitable interest. Can only exist one at a time against the same property.

Can only exist one at a time against the same property.

Which is NOT a superior lien? Special assessment lien Real estate tax lien Federal and state inheritance tax lien Judgment lien

Judgment lien

A film company wants to rent a farm from the farm owner for a two-week film shoot. What type of agreement should be used? Encumbrance Easement License Appurtenance

License

Which of the following statements about liens is FALSE? There may be multiple liens against a property. Liens always convey ownership. An owner acquires existing liens along with the property. A lien terminates after 24-months of non-payment.

Liens always convey ownership.

Which would terminate an easement? Sale of the property by the dominant tenement Sale of the property by the servient tenement Revocation by the servient tenement Merger of the two properties

Merger of the two properties

How is a lien terminated? Payment of the debt that is the subject of the lien and recording of the satisfaction Transfer of the property that has the lien Recording of another lien that is superior Death of the lienor or lienee

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

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

Which of the following is true of easements in general? They involve the property that contains the easement and a non-owning party. They apply to a whole property, not to any specific portion of the property. They cannot be assigned or transferred. They may require a specific use, but cannot prohibit one.

They involve the property that contains the easement and a non-owning party.

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.

A court might grant an easement by prescription if a municipality needs to dig a trench across an owner's property to install a sewer line to a neighboring property, and the owner refuses permission. a property owner sells the front half of a lot and wants to continue using the driveway to reach the rear of the lot. an intruder has been using an owner's property for a certain period with the owner's knowledge but without permission. a property owner wants to prevent the owner of an adjoining property from building a second-story addition that blocks the sunlight to his rose garden.

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 another's right to use a property without the permission of the property owner. another's right to claim the sale proceeds of a property that has been used as collateral for a loan. another's interest in a real property that limits the interests of the freehold property owner. another's right to control how the freehold owner of a real property uses the property.

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) 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.

The lienee in a lien is the party who initiates the lien. owner of the property that is subject to the lien. party who has a claim against the owner of the property subject to the lien. property that is given as security for a debt.

owner of the property that is subject to the lien.

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.