Chapter 1 Flashcards
Which of the following would be considered personal property?
A. A tree
B. A bathtub
C. Window blinds
D. Harvested crops
D. Harvested crops
Real property can be divided into corporeal and incorporeal. Which would be an incorporeal right?
A. An easement
B. Fences and walls
C. All improvements
D. A house and barn
A. An easement
An article may be changed from realty to personalty by
A. Annexation
B. Severance
C. Verbal declaration
D. Order of the commissioner
B. Severance
Which of the following is always personal property?
A. Appurtenances
B. Fixtures
C. Trade fixtures
D. Shrubbery
C. Trade fixtures
Shelving and counters are securely fastened in a leased retail store. Such items are
A. Realty
B. Fixtures
C. Trade fixtures
D. None of these
C. Trade fixtures
Real estate taxes are levied
A. Biannually
B. Annually
C. Semi-annually
D. In even numbered years
B. Annually
Ordinarily, first half property taxes are due and payable
A. March 1st
B. May 1st
C. October 1st
D. November 1st
C. October 1st
The word “ad valorem” best means
A. The adding of value
B. An assessment
C. According to value
D. Worth is assumed
C. According to value
Patents, trademarks, copyrights, and royalties are an example of
A. Corporeal realty
B. Tangible personalty
C. Incorporeal realty
D. Intangible personalty
D. Intangible personalty
The charges levied against real estate as a result of city-installed sewer systems are called
A. Property taxes
B. A general lien
C. Special assessments
D. All of these
C. Special assessments
Which of the following is NOT properly included in the concept of the power of eminent domain?
A. The right of government to confiscate personal property from the owner
B. An inherent power of government
C. Just compensation at fair market value
D. Taking property through legal procedures
A. The right of government to confiscate personal property from the owner
Escheated property is sold at the public auction by the sheriff. The proceeds of the sale
A. Go to the heirs of the deceased
B. Go to the county where the property is located
C. Are received by the State Real Estate Department for deposit into the Recovery Fund
D. Are deposited into the general fund of the State of Arizona
D. Are deposited into the general fund of the State of Arizona
When rights transfer with a deed, this is referred to as
A. Chattel real
B. Reversionary rights
C. Leasehold
D. Bundle of rights
D. Bundle of rights
Which is NOT an appurtenance and, therefore, does NOT pass with a standard warranty deed?
A. Trade fixtures
B. Trees
C. Shrubs
D. Custom window blinds
A. Trade fixtures
An apartment building is located in an area that is rezoned industrial. The property owner
A. Can maintain the property as an apartment building as long as it doesn’t expand
B. Must close down the apartment building
C. Must apply for a variance
D. Must rezone the property
A. Can maintain the property as an apartment building as long as it doesn’t expand
