Question 1

Real property is commonly referred to as "realty."

Accepted Answer

A) True 
 B)False  True

Question 2

Yi Seul buys a house from Jackson but does not record her ownership interest. Later, Jackson dishonestly sells the same house to Eva who had checked ownership at the courthouse but saw no mention of Yi Seul. After she paid Jackson, Eva recorded her property interest at the courthouse. Eva, who thought that Yi Seul was renting the house from Jackson, then wrote to Yi Seul asking her to move. Who is entitled to the house? What do you believe ethically should be done, assuming Jackson cannot be found?

Accepted Answer

In many states, Eva would have...

Question 3

Andre's city has zoning regulations which govern the placement of a dwelling on property. Andre wants to build a new garage which would likely violate the zoning laws as it would extend beyond the space on which he is allowed to build a dwelling. What is Andre's best option if he wants to build the garage in that particular place on his property?

Accepted Answer

A)   If Andre owns the property without any restrictions, he can build the garage wherever he wants.
B)   Andre may seek a non-conforming use permit from the zoning board or planning commission, which is generally granted if he can show a legitimate private interest.
C)   Andre may file suit against his city.
D)   Andre may seek a variance from the zoning board or planning commission, which is generally granted if he can show undue hardship.
E)   Andre has no option; he cannot build the garage where he wants to place it.F) A) and C)
G) C) and D)

Question 4

A ceiling fan that was purchased at a local hardware store and then is attached to the ceiling becomes ________ to the property.

Accepted Answer

A)   a feature
B)   a fixture
C)   an attachment
D)   a mixture
E)   an additionF) None of the above
G) A) and E)

Question 5

A ________ is an instrument that conveys real property from one owner to another.

Accepted Answer

A)   Deed
B)   Form of acknowledgment
C)   Transfer
D)   Right of way
E)   TitleF) C) and E)
G) B) and E)

Question 6

"To Geraldo for life" is an example of which type of estate?

Accepted Answer

A)   Conditional
B)   Life
C)   Leasehold
D)   Future interest
E)   Fee simple absoluteF) D) and E)
G) C) and D)

Question 7

Under which of the following circumstances would a landlord be permitted to enter the leased property during the term of a lease?

Accepted Answer

A)   The landlord is allowed to enter the leased property only in emergency situations.
B)   The landlord is allowed to enter the leased property in an emergency, when the tenant have given permission to make repairs, or near the end of the leasehold for the purpose of showing the property to a potential new tenant.
C)   The landlord is allowed to enter the leased property in an emergency, when the tenant have given permission to make repairs, with a certified contractor for the purpose of refurbishing the property, or near the end of the leasehold for the purpose of showing the property to a potential new tenant.
D)   The landlord is allowed to enter the leased property in an emergency or with a certified contractor to make necessary repairs.
E)   A lease cannot exclude a landlord from having access to the property during the term of the lease.F) A) and D)
G) B) and E)

Question 8

An easement or profit is ________ when it runs with the land adjacent to the property on which it exists.

Accepted Answer

A)   Express
B)   Adjoining
C)   In gross
D)   Appurtenant
E)   PrevailingF) A) and D)
G) D) and E)

Question 9

Which of the following refers to a person's present right to future property ownership and possession?

Accepted Answer

A)   Conditional estate
B)   Life estate
C)   Leasehold estate
D)   Future interest
E)   Fee simple absoluteF) A) and B)
G) C) and E)

Question 10

A[n] ________ account is an account maintained by a neutral third party into which a deposit on property is placed until all necessary steps for a transfer of property can be made.

Accepted Answer

A)   Closing
B)   Escrow
C)   Accountable
D)   Earnest
E)   Back-upF) A) and C)
G) A) and E) B

Question 11

Which of the following refers to government restriction of property use?

Accepted Answer

A)   Obligatory covenants
B)   Public use agreements
C)   Approved use requirements
D)   Restrictive covenants
E)   ZoningF) A) and B)
G) A) and C)

Question 12

Lewellyn contracts with Carnea to come and pick all the apples he wants and take them home. This is an example of a(n)  ________

Accepted Answer

A)   appurtenance
B)   profit
C)   easement
D)   fixture
E)   option contractF) A) and B)
G) A) and C)

Question 13

Of the co-ownership interests, which of the following is the most common?

Accepted Answer

A)   Joint tenancy
B)   True tenancy
C)   Tenancy in common
D)   Tenancy together
E)   Tenancy by the entiretyF) A) and B)
G) A) and C) C

Question 14

[Family Dispute] When Leona and Oscar married, they both had children from previous marriages. After their marriage, Leona and Oscar purchased a home together as tenants by the entirety and lived there for many years. Oscar died when he was 93 and Leona was 95. Oscar's will left any property he owned to his son, David, who promptly told Leona that she needed to get out of the house. Leona told him to forget it. Leona died a week later. Her will left everything she owned to her daughter, Mina, who moved in the home and refuses to leave. Michelle, who had loaned Oscar $10,000, has filed a claim against any heir of Oscar or Leona, including David and Mina, claiming an interest in the home to satisfy the debt Oscar owed her.
-Which of the following would be the most likely result regarding Mina's claim to the house?

Accepted Answer

A)   She receives all her mother's things including the house.
B)   Because of the form of ownership previously held by Leona and Oscar, she only receives a portion of the ownership of the house with the remainder being held by any other children of Leona or Oscar, including David.
C)   She receives only a life estate with the remainder going to David when she dies.
D)   She does not receive anything because the entire title had already passed to David.
E)   She must provide David with a one-half interest in the house only because her mother did not live longer than 6 months following the death of Oscar.F) A) and E)
G) All of the above

Question 15

Valmar and Meline decide to divorce. The marital real property that they owned as tenants by the entirety now becomes ________

Accepted Answer

A)   tenancy in common
B)   plain joint tenancy
C)   martial property
D)   fee simple absolute in Valmar
E)   it stays tenants by the entiretyF) B) and C)
G) A) and E)

Question 16

List the hierarchy of estates from highest to lowest in ownership interests.

Accepted Answer

Fee-Simple absolute - exclusive rights t...

Question 17

[Disgruntled Buyer] Ciaran lived in his home for five years without doing any upkeep of any type. He was aware that the roof leaked, that he had defective piping, and that the air conditioning did not work, among other problems. He sold the home to Luisa. He did not tell her anything about the problems with the house. Shortly after Luisa moved in, there was a thunderstorm resulting in water streaming down from the ceiling. Within a few weeks of her moving in, pipes began to burst resulting in significant water damage. The air conditioner also failed to work when she turned it on for the first time. Luisa demanded that Ciaran refund her purchase price and take back the house. Ciaran sent her a letter providing as follows:
Dear Luisa,
Caveat emptor. You have marketable title.
Regards, Ciaran
Luisa is furious and wants to sue.
-Which of the following is meant by Ciaran's statement that Luisa has marketable title?

Accepted Answer

A)   That all taxes have been paid.
B)   That she has legal title and that there are no liens or restrictions on the property of which she is unaware.
C)   That Luisa has the legal title, not Ciaran, and that she, therefore, has responsibility for all repair.
D)   That all taxes have been paid, that Luisa (not Ciaran)  has legal title and has responsibility for all repairs, and that there are no liens or restrictions on the property.
E)   That all taxes have been paid and that there are no liens or restrictions on the property, but not that Luisa has legal title.F) None of the above
G) B) and E)

Question 18

Which of the following statements is false regarding the extent of real property ownership rights?

Accepted Answer

A)   A landowner's rights to property extend to airspace.
B)   A landowner has water rights consisting of the legal use of water flowing across or underneath the property so long as landowners downstream are not deprived of water.
C)   A landowner has mineral rights.
D)   A landowner is prohibited from cutting branches of a neighbor's tree hanging over into the landowner's premises.
E)   Interests in land range from temporary to permanent to future.F) A) and C)
G) A) and B)

Question 19

What occurs when the holder of a life estate uses the property in a way that reduces the value of the estate that a future holder will receive?

Accepted Answer

A)   Waste
B)   Remainder
C)   Repercussions
D)   Surplus
E)   Residual impactF) D) and E)
G) B) and D)

Question 20

If a piece of property is divided and one portion is ________ as a result, an easement by necessity is created.

Accepted Answer

A)   attached
B)   appurtenant
C)   landlocked
D)   implicated
E)   alignedF) B) and D)
G) B) and C)

Exam 49: Real Property

Real property is commonly referred to as "realty."

Correct Answer
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True

Correct Answer
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In many states, Eva would have...
View Answer

Correct Answer
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A ceiling fan that was purchased at a local hardware store and then is attached to the ceiling becomes ________ to the property.

Correct Answer
verified

A ________ is an instrument that conveys real property from one owner to another.

Correct Answer
verified

"To Geraldo for life" is an example of which type of estate?

Correct Answer
verified

Under which of the following circumstances would a landlord be permitted to enter the leased property during the term of a lease?

Correct Answer
verified

An easement or profit is ________ when it runs with the land adjacent to the property on which it exists.

Correct Answer
verified

Which of the following refers to a person's present right to future property ownership and possession?

Correct Answer
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A[n] ________ account is an account maintained by a neutral third party into which a deposit on property is placed until all necessary steps for a transfer of property can be made.

Correct Answer
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B

Which of the following refers to government restriction of property use?

Correct Answer
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Lewellyn contracts with Carnea to come and pick all the apples he wants and take them home. This is an example of a(n) ________

Correct Answer
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Of the co-ownership interests, which of the following is the most common?

Correct Answer
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C

Correct Answer
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Valmar and Meline decide to divorce. The marital real property that they owned as tenants by the entirety now becomes ________

Correct Answer
verified

List the hierarchy of estates from highest to lowest in ownership interests.

Correct Answer
verified
Fee-Simple absolute - exclusive rights t...
View Answer

Correct Answer
verified

Which of the following statements is false regarding the extent of real property ownership rights?

Correct Answer
verified

What occurs when the holder of a life estate uses the property in a way that reduces the value of the estate that a future holder will receive?

Correct Answer
verified

If a piece of property is divided and one portion is ________ as a result, an easement by necessity is created.

Correct Answer
verified

Exam 49: Real Property

Real property is commonly referred to as "realty."

Correct AnswerverifiedTrue

Correct AnswerverifiedIn many states, Eva would have...View AnswerShow Answer

Correct AnswerverifiedShow Answer

A ceiling fan that was purchased at a local hardware store and then is attached to the ceiling becomes ________ to the property.

Correct AnswerverifiedShow Answer

A ________ is an instrument that conveys real property from one owner to another.

Correct AnswerverifiedShow Answer

"To Geraldo for life" is an example of which type of estate?

Correct AnswerverifiedShow Answer

Under which of the following circumstances would a landlord be permitted to enter the leased property during the term of a lease?

Correct AnswerverifiedShow Answer

An easement or profit is ________ when it runs with the land adjacent to the property on which it exists.

Correct AnswerverifiedShow Answer

Which of the following refers to a person's present right to future property ownership and possession?

Correct AnswerverifiedShow Answer

A[n] ________ account is an account maintained by a neutral third party into which a deposit on property is placed until all necessary steps for a transfer of property can be made.

Correct AnswerverifiedB

Which of the following refers to government restriction of property use?

Correct AnswerverifiedShow Answer

Lewellyn contracts with Carnea to come and pick all the apples he wants and take them home. This is an example of a(n) ________

Correct AnswerverifiedShow Answer

Of the co-ownership interests, which of the following is the most common?

Correct AnswerverifiedC

Correct AnswerverifiedShow Answer

Valmar and Meline decide to divorce. The marital real property that they owned as tenants by the entirety now becomes ________

Correct AnswerverifiedShow Answer

List the hierarchy of estates from highest to lowest in ownership interests.

Correct AnswerverifiedFee-Simple absolute - exclusive rights t...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements is false regarding the extent of real property ownership rights?

Correct AnswerverifiedShow Answer

What occurs when the holder of a life estate uses the property in a way that reduces the value of the estate that a future holder will receive?

Correct AnswerverifiedShow Answer

If a piece of property is divided and one portion is ________ as a result, an easement by necessity is created.

Correct AnswerverifiedShow Answer

Correct Answer
verified
True

Correct Answer
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In many states, Eva would have...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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B

Correct Answer
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Correct Answer
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Correct Answer
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C

Correct Answer
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Correct Answer
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Correct Answer
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Fee-Simple absolute - exclusive rights t...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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