1. Crash Review - Fundamentals of Property Ownership (160 pts) Flashcards
Percent of Filipino ownership in a foreign corporation or partnership that are allowed to acquire land in the Philippines.
a. 60%.
b. 50%
c. 75%
a. 60%.
The surface of the earth which was unimproved.
a. Land
b. Building
c. Estate
a. Land
The land with all improvement and the rights on it.
a. Real property
b. Real estate
c. Land
a. Real property
Also known as personality, or anything portable and movable.
a. Personal property
b. Movable property
c. Private property
a. Personal property
Personal property that will become real estate.
a. Fixture
b. Real property
c. Real estate
a. Fixture
A fixture used for trade or business.
a. Trade fixture
b. Business fixture
c. Furniture
a. Trade fixture
Form of ownership with complete rights.
a. Fee simple
b. Life estate
c. Leasehold
a. Fee simple
The land with natural and artificial improvements on it.
a. Real estate
b. Land
c. Real property
a. Real estate
Fee simple where the title won’t pass from one person to another until a condition is met.
a. Condition precedent
b. Conditional
c. Condition subsequent
a. Condition precedent
Title remains with new owner while the condition is met.
a. Determinable
b. Conditional
c. Subsequent
a. Determinable
Ownership on the property for the duration of the life of the possessor or another.
a. Life estate
b. State for life
c. State in perpetuity
a. Life estate
Husband’s right on the property of wife.
a. Curtesy (note: CURTESY-RIGHTS,CAPITAL-HUSBAND PROPERTY)
b. Capital
c. Paraphernal
a. Curtesy
The wife right on the property of the husband.
a. Dower (note: Dower - rights; Paraphernal - wife’s property)
b. Capital
c. Paraphernal
a. Dower (note: Dower - rights; Paraphernal - wife’s property)
Protection of a family home against creditor on being .
a. Foreclose
b. Collateral
c. Homestead
a. Foreclose
Landlord interest on the real property.
a. Lease fee
b. Leasehold
c. Lease rent
a. Lease fee
Only this classification of land can be subject to alienation.
a. Agricultural
b. Special
c. Commercial
a. Agricultural
Right granted to owner of property bordering a bay, lake or sea.
a. Littoral (note: LITTORAL- LAKE OR SEA, RIPARIAN-RIVER)
b. Riparian
c. Public
a. Littoral (note: LITTORAL- LAKE OR SEA, RIPARIAN-RIVER)
Right granted to owner of property abutting river and streams.
a. Riparian
b. River right
c. Water right
a. Riparian
Right granted by special agreement with owner and government.
a. Water right
b. Riparian right
c. Littoral
a. Water right
Right to build on the piece of land.
a. Development right
b. Building right
c. Improvement right
a. Development right
Right to take mineral out of the ground
a. Mineral right
b. Mining right
c. Golden right
a. Mineral right
Having an interest in the piece of real estate.
a. Tenancy
b. Ownership
c. Possession
a. Tenancy
Person who administer property in behalf of the beneficiary.
a. Trustee
b. Agent
c. Owner
a. Trustee
Two or more people or companies join together to do a single
project.
a. Joint venture
b. Partnership
c. Corporation
a. Joint venture