Chapter 1 Quiz Flashcards
What is characteristic of the allodial system of ownership?
A. The government owns the land.
B. Individuals own land directly.
C. All land ownership is absolute and without limitations.
D. Individuals have only temporary use of land.
B. Individuals own land directly.
An “improvement” is
A. a modification of land to make it more useful.
B. a modification of a structure to enhance its value.
C. a structure intended as a permanent attachment to land.
D. a parcel of land that has been prepared for development.
C. a structure intended as a permanent attachment to land.
What is the primary criterion for determining whether an item is real or personal property?
A. Cost of the item in relation to the cost of the main item of property
B. Permanent attachment to land or structures
C. Size of the item
D. Documentation of how the item was acquired
B. Permanent attachment to land or structures
Which would NOT be considered real property?
A. House
B. Mineral rights
C. Air rights
D. Trade fixtures
D. Trade fixtures
Real property can be converted into personal property through the process of
A. severance.
B. accession.
C. affixation.
D. inference.
A. severance.
Which of the following is considered to be real property?
A. Natural things movable by law
B. Notes secured by mortgages on real estate
C. House plants
D. Permanent fixtures
D. Permanent fixtures
Littoral rights concern which of the following bodies of water?
A. Lakes entirely contained within the boundaries of an owner’s property
B. Streams and rivers
C. Navigable lakes, seas, and oceans
D. Navigable streams and rivers
C. Navigable lakes, seas, and oceans
A farmer sold a farm. Several months later he was able to go back and harvest the corn crop. The crops are called what?
A. Trade fixtures
B. Emblements
C. Fructus naturales
D. Fixtures
B. Emblements
The legal concept of land does NOT include
A. the surface of the earth.
B. minerals below the surface of the earth.
C. trees and grass.
D. improvements
D. improvements
The physical limits of land are
A. the surface of the earth and infinite space above the surface.
B. the center of the earth and infinite space above the earth.
C. the surface of the earth and all water and minerals on or below the surface to the center of the earth.
D. the surface of the earth and the air rights above the surface to the point defined by local zoning.
B. the center of the earth and infinite space above the earth.
Which of the following is NOT an economic characteristic of land?
A. Transferability
B. Immobility
C. Demand for the area
D. Utility of the land
B. Immobility
A commercial tenant installed some ice cream coolers to sell ice cream. Which of the following statements best describes what happens to the cases upon the expiration of the lease?
A. The tenant would be able to take the cases only if the tenant paid the owner for the fair market value of the cases.
B. The tenant would be able to take the cases prior to the expiration of the lease since they were trade fixtures, and they were installed by the tenant.
C. The landlord would be able to keep the cases as once the cases were installed, they become real property.
D. The owner would be able to keep the cases as they would be considered emblements.
B. The tenant would be able to take the cases prior to the expiration of the lease since they were trade fixtures, and they were installed by the tenant.
