Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

real estate principals: 2018-2019: California licence > chapter 1-5 > Flashcards

chapter 1-5 Flashcards

"study" for test

1
Q

To convey real property there must always be an accurate:

A

legal description.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

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

A

Lot and Block

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

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

A

capture

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

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

a fixture.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Real property is defined as:

A

land and everything permanently attached to it.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

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

A

640 acres.

1,760 yards X 1,760 yards.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

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

A

20 acres

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

A full township contains:

A

23,040 acres

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

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

A

the doctrine of emblements.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Which of the following legal descriptions uses a principal meridian?

A

Government Survey

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

An appurtenance:

A

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.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

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

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

A metes and bounds description always:

A

begins and ends at the same identifiable point.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

There are two categories of attachments. They are:

A

natural and man made.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

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

A

Northeast corner

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

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

A

system of prior appropriation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

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

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

street and number.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

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?

A

21

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

A standard township would be:

A

36 square miles.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

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:

A

lateral support.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

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.
A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

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

A

community property.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

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

A

tenancy in common.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

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:

A

joint tenancy.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

A leasehold estate for a fixed term is an:

A

estate for years.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

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?

A

an estate in remainder

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

In California, condominium projects are generally regulated as:

A

subdivisions.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

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

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

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

A

fee simple estate.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

A Real Estate Investment Trust (REIT):

A
  • 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.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

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

A

fee simple absolute.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

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

A

returns to the grantor.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

Condominium ownership means that an owner:

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

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

A

It is free of all encumbrances.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

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.
A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

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

A

Joint Venture.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

Which following statement(s) are true regarding cooperatives?

A
  • 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.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

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

A

fee simple absolute estate.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
39
Q

Which statement about a corporation is FALSE?

A

Shareholders in a corporation are personally liable for corporate debt.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
40
Q

Ownership in severalty occurs when:

A

the property is owned by only one person.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
41
Q

A cloud on a title is a:

A

title defect.

42
Q

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:

A

reliction.

43
Q

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

A

Quit Claim Deed.

44
Q

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

A

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

45
Q

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

A

Land Patent.

46
Q

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

A

recording.

47
Q

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

A

eminent domain.

48
Q

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

A

an ALTA extended

49
Q

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

A

Grant Deed.

50
Q

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

A

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

51
Q

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

A

Sheriff’s Deed.

52
Q

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

A

intestate.

53
Q

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

A

accretion.

54
Q

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

A

granting clause.

55
Q

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

A

The deed includes the property tax history.

56
Q

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

A

an adverse possessor.

57
Q

The transfer of real property must include:

A

a valid deed.

delivery and acceptance of the deed.

58
Q

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

A

alienation.

59
Q

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

A

escheat to the state.

60
Q

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

A

abstract of title.

61
Q

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

A

get an easement by necessity over the adjoining property.

62
Q

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

A

a profit.

63
Q

Real property tax is a __________ lien on a property.

A

specific

64
Q

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

A

upon which the easement is placed.

65
Q

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

A

an appurtenance.

66
Q

A lien is a type of:

A

financial encumbrance.

67
Q

A deed of trust is:

A

a security instrument similar to a mortgage.

68
Q

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

A

deed restrictions.

69
Q

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

A

condemned.

70
Q

In California, special lien priority is given to:

A
  • special assessment liens.

- property tax liens.

71
Q

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

a nuisance.

72
Q

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

A

a mechanic’s lien

73
Q

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

A

writ of execution

74
Q

A distinguishing factor of a license is that it:

A

can be revoked.

75
Q

An easement is:

A

an encumbrance on real property.

76
Q

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

A

assigned.

77
Q

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

A

$175,000.

78
Q

Generally, lien priority is determined by:

A

the date the lien was recorded.

79
Q

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

A

a majority vote of the landowners within the subdivision.

80
Q

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

A

easements in gross.

81
Q

One of the basic goals to land use planning is:

A

controlling population density.

82
Q

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

A

parcel map

83
Q

Zoning ordinances generally control all of the following, EXCEPT:

A

minimum value of property to be placed upon the lot.

84
Q

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

A

police power.

85
Q

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

a planned development.

86
Q

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

A

a documentary transfer tax.

87
Q

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

A

building codes.

88
Q

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

A

eminent domain.

89
Q

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

A

the building permit system

90
Q

Real property taxes in California become a lien on:

A

January 1.

91
Q

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

A

nonconforming use.

92
Q

A final subdivision public report is issued by the:

A

Real Estate Commissioner.

93
Q

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

A

Zoning

94
Q

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

A

conditional use permits

95
Q

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:

A

timeshare.

96
Q

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.
A

None of the above

97
Q

The real property tax year in California is:

A

July 1 to June 30.

98
Q

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

A

five or more

99
Q

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

A

the general plan.

100
Q

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

A

CEQA.

real estate principals: 2018-2019: California licence (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions