Real Property And Property Ownership

59 Questions | Total Attempts: 1210

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Real Property Quizzes & Trivia

Chapter 1


Questions and Answers
  • 1. 
    Real Property Interests include
    • A. 

      Cultivated annual crops

    • B. 

      Leasehold interests

    • C. 

      Mortgages

    • D. 

      Fences

  • 2. 
    What is a form of ownership that is restricted to husbands and wives
    • A. 

      Joint tenancy

    • B. 

      Tenancy in severalty

    • C. 

      Tenancy in common

    • D. 

      Tenancy by entirety

  • 3. 
    What would result from a condition in a deed?
    • A. 

      Fee simple

    • B. 

      Defeasible fee

    • C. 

      Chattel real

    • D. 

      Nonfreehold estate

  • 4. 
    What does tatum refer to
    • A. 

      Carpenter's tool

    • B. 

      Aircraft used for survey purposes

    • C. 

      Level surface from which elevations are measured

    • D. 

      File of recorded documents

  • 5. 
    An investor's personal assets could be subject to a creditor's claim in a
    • A. 

      General partnership

    • B. 

      Syndicate

    • C. 

      Real estate investment trust

    • D. 

      Corporation

  • 6. 
    How does an S corporation differ from other corporations?
    • A. 

      Its investors have no personal liability

    • B. 

      The double taxation aspect of other corporations is avoided

    • C. 

      It has a separate life from that of the investors

    • D. 

      Its tax rates are higher

  • 7. 
    A tenant in a commercial building installed a large sign that was anchored to the building with steel rods.  Which of the following terms properly describes the sign?
    • A. 

      Fixture

    • B. 

      Trade Fixture

    • C. 

      Real Property

    • D. 

      Emblement

  • 8. 
    What type of real property description would include reference to an iron stake
    • A. 

      Metes and bounds

    • B. 

      Informal

    • C. 

      Lot, block and tract

    • D. 

      Government survey

  • 9. 
    A tenancy in common differs from a joint tenancy in that
    • A. 

      There is a survivorship right if a tenant in common dies without a will

    • B. 

      Tenants in common have unequal interests

    • C. 

      Tenants in common have divided interests

    • D. 

      Tenants in common must acquire their interests at the same time.

  • 10. 
    Chattles real differ from appurtenances in that they:
    • A. 

      Transfer with the land

    • B. 

      Include growing trees

    • C. 

      Are personal property

    • D. 

      Are freehold estates

  • 11. 
    Rights benefits and improvements that go with the land are known as:
    • A. 

      Chattels

    • B. 

      Emblements

    • C. 

      Appurtenances

    • D. 

      Encumbrances

  • 12. 
    Which of the following would be classified as real property?
    • A. 

      Trade fixtures

    • B. 

      Water rights

    • C. 

      Chattels real

    • D. 

      Mortgages

  • 13. 
    Three of the tests of a fixture are:
    • A. 

      Adaptability, intent and attachment

    • B. 

      Adaptability, cost and attachment

    • C. 

      Size, weight and adaptability

    • D. 

      Intent, cost and attachment

  • 14. 
    All of the ownership rights that transfer with a fee simple estate are known as
    • A. 

      Fixtures

    • B. 

      Emblements of title

    • C. 

      Remainder rights

    • D. 

      The bundle of rights

  • 15. 
    Items that were formerly personal property but are now regarded as real property would be described as
    • A. 

      Emblements

    • B. 

      Fructus industriales

    • C. 

      Fixtures

    • D. 

      Trade fixtures

  • 16. 
    An example of a real property security would be:
    • A. 

      Condominiums sold with a mandatory rental pool arrangement

    • B. 

      General partnership shares in investment property

    • C. 

      Apurautre vie estate

    • D. 

      A vested remainder interest

  • 17. 
    Part of a legal description on a deed stated38 degrees.  what type of descripton was it?
    • A. 

      Metes and bounds

    • B. 

      Informal description

    • C. 

      Lot, block and tract

    • D. 

      Government survey

  • 18. 
    A brother and sister hold land as joint tenants.  The sister conveys one half of her interest to her husband.  Ownership would now be held by the :
    • A. 

      Brother, sister and her husband as tenants in common

    • B. 

      Brother and sister as joint tenants and her husband as a tenant in common

    • C. 

      Brother, sister and her husband as joint tenants

    • D. 

      Brother and sister as joint tenants

  • 19. 
    An owner granted a life estate to another but retained a future interest which was a:
    • A. 

      Remainder interest

    • B. 

      Chattel real

    • C. 

      Defeasible estate

    • D. 

      Reversionary interest

  • 20. 
    K, who had a life estate for the life of L, leased the property to M for 5 years.  what would happen if K were to die?
    • A. 

      M's lease would terminate

    • B. 

      K's heirs would be entitled to K's interest

    • C. 

      The remainder interest holder would obtain title

    • D. 

      L would obtain title

  • 21. 
    A person other than the grantor has a future interest in a life estate.  That interest would be a
    • A. 

      Fee simple

    • B. 

      Fee simple determinable

    • C. 

      Remainder interest

    • D. 

      Reversionary interest

  • 22. 
    A life estate was lost by merger.  Merger occurred when the
    • A. 

      Original grantor died

    • B. 

      Life tenant died

    • C. 

      Remainder interest holder purchased the life tenants interest

    • D. 

      Life tenant vacated the premises

  • 23. 
    The statutory right of a widow in the estate of her deceased husband is a:
    • A. 

      Dower right

    • B. 

      . curtesy right

    • C. 

      Tenancy at sufferance

    • D. 

      Remainder interest

  • 24. 
    J had to pay a stock transfer fee when he sold his unit.  What type of development was it?
    • A. 

      Condominium

    • B. 

      Planned unit development

    • C. 

      Cooperative

    • D. 

      Time share

  • 25. 
    A leased farm is sold.  The growing crops belong to the
    • A. 

      Seller

    • B. 

      Buyer

    • C. 

      Tenant

    • D. 

      Buyer and tenant equally

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