chapter 1-5 Flashcards by Koda Lee

To convey real property there must always be an accurate:

legal description.

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A plat map is used in which type of legal description?

Lot and Block

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Ownership of oil and gas is governed by the rule of _________.

capture

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Anything that has been permanently attached to the land and becomes part of the real estate by way of its attachment is known as:

a fixture.

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Real property is defined as:

land and everything permanently attached to it.

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A section of land, as used in the government survey method, may be described as:

640 acres.

1,760 yards X 1,760 yards.

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How many acres are in the following legal description? E 1/2 of SW 1/4 of NE 1/4 of Section 23

20 acres

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A full township contains:

23,040 acres

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A special right given to tenant farmers for planted crops is known as:

the doctrine of emblements.

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Which of the following legal descriptions uses a principal meridian?

Government Survey

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An appurtenance:

may be air rights, water rights, mineral and/or gas rights, and support rights.
is an interest that transfers with a piece of land when sold.
can be sold separately from the land.

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When determining if an item is a fixture, a court of law will apply which of the following tests?

The method of attachment, the adaptation of the item to the real property, the intention of the annexor, and the agreement of the parties.

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A metes and bounds description always:

begins and ends at the same identifiable point.

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There are two categories of attachments. They are:

natural and man made.

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In what corner of a township would you find Section 1?

Northeast corner

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In California, the body of law that regulates the use of water is known as the:

system of prior appropriation.

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All of the following are types of adequate property descriptions, EXCEPT:

government survey.
metes and bounds.
street and number.
lot and block.

street and number.

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A township contains 36 sections numbered consecutively beginning in the northeast corner of each section. How would the section directly south of section 16 be numbered?

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A standard township would be:

36 square miles.

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The north boundary of John’s property has suffered a collapse caused by his neighbor digging a well. The neighbor has violated John’s right to:

lateral support.

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All of the following statements are true regarding condominiums, EXCEPT:

the sale of a unit does not generally require the approval of other unit owners.
each unit owner obtains separate financing to buy his/her unit.
a lien can attach to a separate unit.
the seller’s interest in common elements will be sold separately from the unit.

the seller’s interest in common elements will be sold separately from the unit.

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In California, unless otherwise provided for, married couples will take title to real property as:

community property.

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The most basic form of concurrent ownership for unmarried persons recognized in California is:

tenancy in common.

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The type of concurrent ownership that requires unity of interest, unity of title, unity of time, and unity of possession that includes the right of survivorship is known as:

joint tenancy.

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A leasehold estate for a fixed term is an:

estate for years.

A deed in which the grantor states, "To Paul Grey for his life, and then to Sean Casey" creates what type of interest for Sean Casey?

an estate in remainder

In California, condominium projects are generally regulated as:

subdivisions.

Which of the following statements concerning a life estate is false?

The duration of a life estate is always the governing lifetime of the life tenant.

An estate that can be voluntarily transferred by a will is a:

fee simple estate.

A Real Estate Investment Trust (REIT):

- is an unincorporated syndicate to finance large real estate projects. - involves one or more trustees who manage property for others, who are called beneficiaries. - avoids double taxation as long as at least 90% of its income is distributed to the shareholders who pay tax on the income.

An ownership interest in real property that has an indefinite (indeterminable) duration is known as a:

fee simple absolute.

Reversion, as applied to life estates, means the property:

returns to the grantor.

Condominium ownership means that an owner:

owns the space within his/her unit and owns the surrounding common areas as a tenant in common with the other unit owners.

Which one of the following is NOT a characteristic of a fee simple estate?

It is free of all encumbrances.

When an apartment building is converted to a condominium, which of the following is TRUE? - No notice is necessary as long as each tenant is given first right of refusal to purchase his/her unit at a discounted price. - Each apartment tenant must be given 180 days notice of the conversion. - Each apartment tenant must be given 90 days notice that the building is to be converted. - Each apartment tenant must be given 120 days notice of the conversion.

Each apartment tenant must be given 180 days notice of the conversion.

A type of partnership created for a single transaction or series of transactions is known as a:

Joint Venture.

Which following statement(s) are true regarding cooperatives?

- A corporation owns the whole project and the persons who occupy the individual units are shareholders with a tenancy right to a particular unit under a proprietary lease. - If one tenant in a cooperative defaults on his/her share of the mortgage payment, the remaining tenants must cure the default.

The highest and most complete form of ownership estate in land is called:

fee simple absolute estate.

Which statement about a corporation is FALSE?

Shareholders in a corporation are personally liable for corporate debt.

Ownership in severalty occurs when:

the property is owned by only one person.

A cloud on a title is a:

title defect.

When a body of water gradually recedes, creating additional exposed land that becomes the real property of adjacent property owners, the process is referred to as:

reliction.

A cloud on a title is most often removed by a:

Quit Claim Deed.

A buyer of real property receiving a deed from the seller is also known as the:

The government transfers title of government-owned lands to private owners by way of a:

Land Patent.

The process whereby constructive notice of the interest one has in real property is given to the world is called:

recording.

The power of the government to take private property for public use is called:

eminent domain.

Lenders generally insist that __________ title policy be purchased in their behalf by borrowers.

an ALTA extended

In California, the most common document used to transfer title to real property is a:

Grant Deed.

In California, a successful lawsuit for ownership of property by adverse possession requires all of the following, EXCEPT:

the adverse possessor must have received permission from the property owner to use the land.

In the event of a judicial foreclosure sale, the deed used to transfer title to the highest bidder is a:

Sheriff's Deed.

A person who dies without a will is said to have died:

intestate.

The process of enlargement of riparian or littoral land by deposits of alluvium is known as:

accretion.

In order to convey title to real property, every deed must have a:

granting clause.

Which one of the following is NOT an essential element for a valid deed?

The deed includes the property tax history.

A standard coverage title policy insures against all of the following, EXCEPT:

an adverse possessor.

The transfer of real property must include:

a valid deed. | delivery and acceptance of the deed.

The process of transferring real property from one individual to another is known as:

alienation.

The property of a person who dies intestate and has no known heirs will:

escheat to the state.

A condensed list of all owners of record of a particular parcel of real property is known as:

abstract of title.

When a portion of a property is sold to another and is landlocked, the property owner will most likely:

get an easement by necessity over the adjoining property.

The right given to remove something from the land belonging to someone else is known as:

a profit.

Real property tax is a __________ lien on a property.

specific

The servient estate, as it applies to an easement appurtenant, is the property:

upon which the easement is placed.

An item that belongs to and passes with the title of real property is:

an appurtenance.

A lien is a type of:

financial encumbrance.

A deed of trust is:

a security instrument similar to a mortgage.

Provisions contained in a deed that limit the use of private property are known as:

deed restrictions.

When property is made security for a debt, the property is said to be all of the following, EXCEPT:

condemned.

In California, special lien priority is given to:

- special assessment liens. | - property tax liens.

A noxious odor or unsightly condition on a property that interferes with the neighboring property owner's reasonable use and enjoyment of their property is known as:

a nuisance.

A person who provides labor, materials, or professional services for the improvement of real property can file __________ against the property.

a mechanic's lien

What is the name of the court executed document that gives a sheriff the authority to sell a debtor's property?

writ of execution

A distinguishing factor of a license is that it:

can be revoked.

An easement is:

an encumbrance on real property.

Unlike other types of easements, a commercial easement in gross can be:

assigned.

In California, the homestead exemption for a debtor over 65 years of age is:

$175,000.

Generally, lien priority is determined by:

the date the lien was recorded.

Private restrictions contained within a subdivision's CC&Rs can be terminated by:

a majority vote of the landowners within the subdivision.

Right of way easements, such as those acquired by public utilities, are called:

easements in gross.

One of the basic goals to land use planning is:

controlling population density.

Under the Subdivision Map Act, a subdivision with two to four lots, condominiums, and cooperatives file a __________ instead of tentative and final maps.

parcel map

Zoning ordinances generally control all of the following, EXCEPT:

minimum value of property to be placed upon the lot.

The government's power to regulate for the protection of the public health, safety, morals and general welfare is called:

police power.

A subdivision that includes single-family residential lots that are separately owned as well as areas owned in common and reserved for the use of some or all of the individual owners is called:

a planned development.

The tax levied on each sale of real property in California is called:

a documentary transfer tax.

Laws setting the standards for construction methods and materials are contained within the:

building codes.

The federal and state government's power to take private property for public use is known as:

eminent domain.

The enforcement of the laws setting standards for construction methods and materials is accomplished by way of

the building permit system

Real property taxes in California become a lien on:

January 1.

Previously established uses that are permitted to continue after a zoning change prohibits the use in the newly rezoned area is known as a:

nonconforming use.

A final subdivision public report is issued by the:

Real Estate Commissioner.

__________ divides a community into areas that are set aside for specific uses.

Zoning

Generally, schools, hospitals and churches are issued __________ by the zoning authority.

conditional use permits

A form of ownership wherein several buyers purchase undivided interests in real property with a right to use that property for a specific period is called a:

timeshare.

In California, a zoning variance to allow commercial use in a residential zoned area can be granted by: - the local zoning authority. - the local building inspectors. - the local planning commission.

None of the above

The real property tax year in California is:

July 1 to June 30.

The Subdivided Lands Law applies to most subdivisions with __________ parcels.

five or more

The comprehensive long-term proposal of property development in California is called:

the general plan.

The California law governing environmental quality is commonly referred to as:

CEQA.

chapter 1-5 Flashcards

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