Chapter 1

Question 1

Which best describes a parcel of land?

Answer 1

The surface of the earth extending down to the center and upward to infinity.

Question 2

In determining whether an item is a fixture, what would not be considered?

Answer 2

**Method of attachment
Adaptation to the real estate
Value of the item
Legal interest of the annexing party

Question 3

The characteristic that distinguishes personal property from real property is..?

Answer 3

**Mobility
Scarcity
Durability
Flexibility

Question 4

When used in a deed or other real estate document, a legal description describes only the land because..?

Answer 4

Buildings and other improvements are considered to be part of the real estate.

Question 5

An item that was personal property but has been attached to and become part of the real property is known as..?

Answer 5

A trade fixture.

Question 6

Crops planted and harvested each year are..?

Answer 6

Personal property.

Question 7

The most distinctive physical characteristic of land is..?

Answer 7

Immobility.

Question 8

All of the following are real property except..?

Answer 8

Oil below the earth’s surface
A concrete driveway
**Cut timber
Air rights

Question 9

The law of capture refers to the..?

Answer 9

Process of removing oil and gas from the land.

Question 10

The sum of all factors that affect value is called..?

Answer 10

Situs.

Question 11

Ownership of personal property is transferred by..?

Answer 11

Bill of sale.

Question 12

A landowners right to use water from a bordering stream or river is called..?

Answer 12

Riparian Rights.

Question 13

If Smith builds a fence on Jones’ land by mistake, in good faith, and thinking the fence is on Smith’s land, then..?

Answer 13

Jones may require Smith to remove the fence and/or pay damages.

Question 14

The fact that an acre of land in a rural area cannot fulfill as many needs as an acre of urban land describes the economic characteristic of..?

Answer 14

Location.

Question 15

All of the following are true about a trade fixture except..?

Answer 15

It is personal property
It is chattel real
**It may be removed only after the lease expires
It belongs to the property owner if not removed in a timely matter

Question 16

Dawson sold his 500 acre farm to Harris, but reserved the right to drill for oil. Later, when Dawson arrives with the oil drilling equipment, he is denied the right of access to the land. Which party has correctly interpreted the agreement?

Answer 16

Dawson, because he has an implied right of entry.

Question 17

A township contains how many square miles?

Answer 17

36.

Question 18

What about air rights is true?

Answer 18

The owner can sell the air rights and still retain the surface and subsurface rights.

Question 19

A custom made storm window would most likely be considered a fixture because of..?

Answer 19

The annexing party’s intent to make it permanent.

Question 20

The method of land description which identifies a parcel by specifying its boundary lines along with the terminal points and the bearing of each side is known as..?

Answer 20

Metes and Bounds.

Question 21

Which of the following is NOT an acceptable method of legally describing a parcel of real estate?

Answer 21

**Street addresses, county, and state
Metes and bounds
Rectangular surveys
Recorded plats