Virginia- Principles and practices of Real estate

A husband and wife own property as tenants by the entirety. The husband dies, leaving all his property to their son. Which of the following statements is true? 1. the wife owns the property in severalty. 2. the son is a tenant in common with his mother 3. the son will automatically inherit the property when his mother dies 4. the son has a life estate, pur aure vie

1. the wife owns the property in severalty.

A couple is buying a house with an oddly shaped living room. The seller built a custom-made bookcase to specifically fit into the room. Absent an agreement, the bookcase is most likely: A. A fixture B. The buyer's personal property C. A replacement fixture D. The seller's personal property

A) A fixture

A legal land description must: A. Be sufficient to identify the property B. Carry the measurements to the nearest inch C. Show the area of the land being described D. Contain an informal reference

A. Be sufficient to identify the property

A metes and bounds survey will most likely identify: Select one: A. Certain encumbrances B. All title defects C. Marketable title D. Liens

A. Certain Encumbrances

If a husband and wife own property as tenants-in-common, which of the following statements is true? A. Either may dispose of their own interest without approval of the other B. Title to the property is in the marital unit C. Both must agree to dispose of their interest D. None of the above statements are true

A. Either may dispose of their own interest without approval of the other

The original owner of a condominium unit holds which of the following interests? A. Fee simple absolute in the unit B. Joint tenancy in the common areas C. Joint tenancy in the common walls D. All of the above

A. Fee simple absolute in the unit

Former personal property that automatically conveys: A. Is a trade fixture B. Is a fixture C. Is chattel D. Occurs only by agreement

A. Is a trade fixture

Fred bought a new boat and hired a contractor to build a dock on his lakefront property. Fred did not pay the contractor. In an attempt to get paid, the contractor may file a: A. Mechanics lien against the boat B. Mechanics lien against the property C. General lien against Fred D. All of the above

A. Mechanics Lien against the property

An appurtenant easement may be terminated by: Select one: A. Merger of the dominant and servient estates B. Condemnation of the servient estate through eminent domain C. Abandonment by the servient estate D. All of the above

A. Merger of the dominant and servient estates

One house in a large neighborhood stands out because, compared to the others, it is not well maintained. Which concept best explains this single home's impact on the surrounding community? A. The poorly maintained home value may rise due to immobility B. The value of all other homes in the neighborhood will decrease due to immobility C. The poorly maintained home value would increase if it were assembled with another lot D. The values of other homes in the neighborhood will decrease due to situs

A. The poorly maintained home value may rise due to immobility

What distinguishes an easement in gross from an appurtenant easement? A. Whether the benefit runs with the land B. Whether there are adjacent properties C. Whether the use is regularly exercised D. Whether the purpose is legal

A. Whether the benefit runs with the land

A joint tenant wants to sell his interest without consent from the other joint tenants. Can he do this? Select one: A. Yes, because each joint tenant may sell independently of the others B. Yes, because survivorship is present in joint tenancy C. No, because all co-owners must first agree to sever the tenancy D. No, because the unity of interest in a joint tenancy protects the other co-owners

A. Yes, because each joint tenant may sell independently of the others

Six months after Brady bought his home, he installed custom-made storm windows and doors. If Brady subsequently transfers title to someone else, will the storm windows and doors automatically transfer as well? Select one: A. Yes, unless the parties agree that they will be removed before the sale has advanced B. Yes, because the storm windows and doors are fixtures C. No, because they can be easily removed without damaging the property D. No, so long as Brady reinstalls the original windows and doors

A. Yes, unless the parties agree that they will be removed before the sale has advanced

The right or privilege that one has to use the property of another is:

An Easement

Mrs. Heckler bought a unit in a condominium apartment complex directly from the developer. She most likely received a: A. Proprietary interest in the complex B. Fee simple absolute interest in her unit C. Divisible fee simple interest in the common elements D. All of the above

B) Fee absolute interest in her unit

Dave had a bad year. In February, he defaulted on his mortgage. In March, a carpenter built a deck on Dave's house. In April, that carpenter secured a mechanic's lien for work and materials since Dave wasn't able to pay his bill. In June, a judge signed a judgment lien against Dave and all of his real and personal property. Finally, Dave realized that he forgot to pay his property taxes, which should have been due in August. Which of the following liens has priority after a court-ordered foreclosure of Dave's home? A. The lien of his mortgage B. The real estate tax lien C. The judgement lien D. The mechanic's lien

B) The real estate tax lien

Real property does not include: A. Air rights B. Trade fixtures C. Improvements D. Mineral rights

B) Trade Fixtures

Which of the following choices is NOT a freehold estate? A. A present interest in land B. A lease that does not require rent payments C. A life estate D. All of the above

B. A lease that does not require rent payments

Property taxes on cooperative units are assessed in the form of: Select one: A. Individual tax bills for each unit B. A single tax bill, prorated among individual units C. Annual tax bills based on the type of unit D. Biannual tax bills based on the type of unit

B. A single tax bill, prorated among individual units

Jones owns two tracts of land. One tract has lakefront property. Jones sells the other tract to Smith and gives him the right to cross his property in order to reach the lake. Without the right to cross Jones' property, there is no other way for Smith to reach the lake. Smith's right could be: A. An easement by necessity B. An easement in gross C. Created by operation of law D. All of the above

B. An easement in Gross

What would most likely to be included in the sale of real property? Select one: A. An easement B. Enjoyment C. Trade fixtures D. A kitchen sink

B. Enjoyment

An adequate metes and bounds description must have all of the following inclusions, EXCEPT: A. A definite point of beginning B. Four sides C. Closure D. Linear measurements and compass directions

B. Four Sides

three people own a piece of property as tenants in common. two of the owners want to sell the property, but the third party does not. the two owners that want to sell: A. Cannot sell because all three must agree B. May file suit for partition C. May seek detachment D. May sever the third party's interest

B. May file suit for partition

What type of legal description will most accurately describe an irregularly shaped parcel of land? Select one: A. Lot and block B. Metes and bounds C. Recorded plat of subdivision D. Government survey

B. Metes and Bounds

Boundary markers of land (natural or man-made) are best known as: Select one: A. Benchmarks B. Monuments C. Stakes D. Metes

B. Monuments

What is the best description of ownership in severalty? A. Several persons own one piece of real property B. One person owns several pieces of real property C. Limited to corporate ownership D. Property owned by several members of the same family

B. One person owns several pieces of real property

A cooperative owner has exclusive use of her unit by reason of: A. General partnership B. Property lease C. Fee simple title D. License

B. Property lease

If the property title is set to pass to someone other than the grantor upon termination of an estate, the interest held by the person who will receive the property is: Select one: A. Reversionary B. Remainder C. Equitable D. Ostensible

B. Remainder

Jean transfers a fee simple interest in property to her daughter, Lisa, but reserves a life estate for herself. During Jean's lifetime, Lisa holds a: A. Life interest, pur autre vie B. Remainder interest C. Reversionary interest D. Life estate

B. Remainder Estate

Mr. and Mrs. Jones sold their home to a church, but retained the right to occupy the property as long as they lived. The interest of the church is that of a: Select one: A. Life estate B. Remainder estate C. Trustee D. Reversion estate

B. Remainder estate

A landlord's right to re-enter or regain possession of the premises upon expiration of a lease is known as: Select one: A. Redemption B. Reversion C. Remainder D. Recovery

B. Reversion

What is not a valid method to describe real property? A. Metes and bounds B. Street address C. Government method of survey D. All of the above are valid methods

B. Street address

A property has three owners. These parties own 10%, 20%, and 70% interest, respectively. What type of ownership do they have? A. Joint tenancy B. Tenancy in common C. Tenancy by the entireties D. Either A or B

B. Tenancy in common

What is NOT true about metes and bounds? Select one: A. The metes and bounds survey ends at the point of beginning B. The distances shown in the deed will prevail over the actual distances measured C. The length of metes in the survey can be measured to one hundredth of a foot D. The monument at the point of beginning should be as permanent as possible

B. The distances shown in the deed will prevail over the actual distances measured

Once created and properly recorded, may a subdivision plat be altered? A. No, because all descriptions will retain the historical reference to the original subdivision B. Yes, so long as new plats are created and recorded which reflect the changes to the original plat C. No, because a change would render all prior descriptions from the original plat as invalid D. Yes, so long as permission is obtained from the local zoning board

B. Yes, so long as new plats are created and recorded which reflect the changes to the original plat

Mrs. Franklin is buying property from Mr. Akin. In order to get to her property, it is necessary to cross property owned by Mr. Travis. In the past, Mr. Travis had granted permission to Mr. Akin for this purpose. Mrs. Franklin wants to protect this privilege. What would best serve Mrs. Franklin's interests? A. An easement in gross B. A license C. An appurtenant easement D. Either A or C

C. An appurtenant easement

Land moves by: A. Accretion B. Erosion C. Both A and B D. None of the above because land is immobile

C. Both A and B

Which of the following items is not an improvement of land? A. Building B. Sidewalk C. Corn crop D. Flower bed

C. Corn Crop

Which definition is described as a trespass on an improvement? A. An easement B. A license C. An encroachment D. None of the above

C. Encroachment

Jones, Smith, and Williams own property as joint tenants. Which of the following statements must be true? A. If Jones and Smith die, Williams will own the property as a joint tenant with the heirs of Jones and Smith B. If Jones dies, Smith and Williams will own the property as tenants-in-common C. If Jones and Smith die, Williams will own the property in severalty D. If any one of the owners die, the property goes to the heirs of the deceased owner

C. If Jones and Smith die, Williams will own the property in severalty

Sam dies and leaves a valid will. Sam leaves the family farm to his children after the death of his wife, Jane. Several years after Sam's death, Jane sells her interest to Larry. Which of the following statements is true? A. Larry has no interest, but may cancel the contract due to Jane's fraud B. Larry has no interest because Jane did not get the children's permission to sell the farm C. Larry has a life estate pur autre vie D. None of the above

C. Larry has a life estate pur autre vie

The right of one party to possess and use real property exclusive of others is: Select one: A. Hypothecation B. Partition C. Ownership D. All of the above

C. Ownership

Which of the following items is most likely to be severed? A. Garden tractor B. Commercial cooler C. Rail fence D. Either B or C

C. Rail fence

Which method of legally property description relies on range lines? A. Vertical B. Lot, block, an subdivision C. Rectangular D. Monument

C. Rectangle

A person enters into a lease agreement for 1 year. At the end of a year, the lease expires, but the tenant does not vacate the property. The tenant would be considered a: Select one: A. Periodic tenant, because the lease automatically renews B. Tenant at will, because no additional time period was specified C. Tenant at sufferance, because the tenant is breaking the law D. Freehold tenant, because the landlord failed to act

C. Tenant at sufferance, because the tenant is breaking the law

Of the terms listed below, which do NOT fit together? A. Survivorship --- Joint tenancy B. Fee simple --- Forever C. Testate --- Escheat D. Tenants-in-Common --- Undivided interest

C. Testate --- Escheat

Mary has a life estate and her daughter has been named as the remainderman. Mary leases the property to Susan for 5 years. One year later, Mary dies. Mary's daughter serves notice to Susan to vacate the property. Which of the following statements is correct? A. The lease is valid for four more years because it is Susan's personal property B. The lease was invalid from the beginning because a life tenant may not commit waste C. The lease was valid only during Mary's lifetime because it was one of the sticks in the bundle D. The lease is invalid because it violates the statute of frauds

C. The lease was valid only during Mary's lifetime because it was one of the sticks in the bundle

Zorba leases a restaurant. He installs ovens, booths, and counters. Which of the following statements is true? Select one: A. The ovens, booths, and counters cannot be removed by Zorba B. The ovens, booths, and counters can be removed by Zorba at any time C. The ovens, booths, and counters can be removed by Zorba at any time before Zorba's lease expires D. Zorba is not responsible for any damage caused by removing the ovens, booths, and counters

C. The ovens, booths, and counters can be removed by Zorba at any time before Zorba's lease expires

Which legal instrument could convey a tenancy for years? A. Deed B. Land contract C. Lease D. Either B or C

C. ease

If a man is considered a "proprietary tenant," he is most likely owns interest in which of the following types of property?

Cooperative apartment

Land is insurable primarily because of its: A) Uniqueness B) Indestructability C) Improvement D) None of the above

D) None of the above

Zorba owns property and gladly allows his friend, Young, to use it. To best protect Zorba's interest, he should give Young: A. An easement in gross B. A right of way C. An appurtenant easement D. A license

D. A license

Mr. Foster owns an automobile, a boat, a house, and a farm. He defaults on the mortgage covering his house. If a judgment lien is entered, which of the following properties could be subject to the judgment lien? A. Car B. Boat C. Home D. All of the above

D. All of the Above

To have any legal affect, plats drawn from the lot, block, and subdivision method must: A. Include a plat B. Be pre-approved by the country or city before recordation C. Be recorded D. All of the above

D. All of the Above

Which of the following properties may be classified as commercial? Select one: A. Apartment buildings B. Vacant lots C. Parking lots D. All of the above

D. All of the above

Which real property right automatically conveys? A. Surface rights B. Subsurface rights C. Control D. All of the above

D. All of the above

A condominium could be which of the following descriptions? A. Multi-story building B. Townhouse community C. Industrial office park D. Any of the above

D. Any of the Above

Which item is personal property? A. Apartment lease B. Business reputation C. Tool shed attached to the brick foundation D. Both A and B

D. Both A and B

how can appurtenant easement be terminated? A. If the easement is released by the dominant estate B. If the dominant estate owner dies C. If the necessity no longer exists D. Either A or C

D. Either A or C

What is NOT a physical characteristic of land? A. Heterogeneity B. Indestructibility C. Immobility D. Fixity

D. Fixity

Lionel rents an apartment under a three-year lease. After the first six months, the landlord sells the building. Lionel: A. Must renegotiate the lease with the new owner or vacate the premises B. Need not do anything if the owner fails to renegotiate the lease within 60 days C. Need not do anything, but the new owner may terminate the lease at any time D. Need not do anything

D. Not need do anything

Tommy the Tenant takes over a tattoo parlor from an existing tenant. The parlor came with a comfortable dentist chair, which was perfect for people to sit on while getting their tattoo. One day, the chair breaks. Tommy installs a new dentist chair that he picked up at a flea market. The new chair is: A. Personal property, regardless of when it is removed B. Real property, if not timely removed C. Personal property, so long as it is timely removed D. Real property, regardless of when it is removed

D. Real property, regardless of when it is removed

What is NOT considered to be a legal description of property? Select one: A. Metes and bounds B. Lot and block C. Rectangular survey system D. Taxpayer federal ID number

D. Taxpayer federal ID number

A tenant and landlord enter into a six month lease on July 1, 2016, to expire on December 31, 2016. Which of the following statements is correct? Select one: A. The landlord must serve notice to quit at least 30 days before expiration or the lease will renew B. The tenant must serve notice to quit at least 30 days before expiration or the lease will renew C. If neither party provides proper notice to quit, the lease will renew for another 6 months D. The lease will terminate on December 31, 2016

D. The lease will terminate on December 31, 2016

All of the following statements are true about land, except: Select one: A. Land exists forever B. Real estate is immobile C. Land cannot be insured D. Land may be depreciated

D. land may be depreciated

A lease that contains no mention of an occupancy period is most likely to be: A. Invalid B. A month-to-month lease C. Covered by the statute of frauds D. A tenancy at sufferance

D. tenancy at Sufferance

A person who rents a property from June 1st to June 30th of the same year most likely has a(n):

Estate for years

Farmer Pete leases land to grow wheat. In April, Farmer Pete plants his crop, expecting to harvest in October. However, just before harvest time, his landlord successfully evicts him for nonpayment of rent. In October, Farmer Pete attempts to harvest his wheat. The wheat belongs to:

Farmer Pete, because its his personal property.

The owner of a fee simple absolute estate leaves a will, which only specifies that he will leave a life estate to one party and a remainder estate to another. Upon the death of the life tenant, the remainderman could have a:

Fee simple Estate

Which of the following is most likely to transfer with real property? A. Fructus naturales B. Portable kitchen appliances C. Fructus industriales D. Trade fixtures

Fructus naturales

Several people hold property as tenants-in-common. One of the tenants dies. His interest in the property will:

Pass to his heirs or devisees, if any