Chapter 2 (Class) Quiz: Introduction to Real Estate Flashcards
The rights and interests that a person has in the thing owned is the definition of:
a. portfolio
b. property
c. debt
d. none of the above
b. property
Which of the following is NOT a test to determine whether an item is a fixture?
a. if a tenant, is it a residential or business tenant?
b. method of attachment
c. value of the item
d. intent of the installer
c. value of the item
Appurtenant means the ownership of the item:
a. is personal
b. is movable
c. is a crop
d. runs; goes with the land (in the event the land is sold)
d. runs; goes with the land (in the event the land is sold)
A “bill of sale” transfers title to:
a. real property
b. heirs
c. immovable items
d. personal property
d. personal property
Things that are permanently affixed to real property are (with the major exception being trade fixtures) usually considered to be:
a. appurtenances
b. encroachments
c. trespassing objects
d. fixtures that go with the land if the land is sold
d. fixtures that go with the land if the land is sold
The definition of real property usually includes an item being:
a. movable
b. anything of value
c. things we own
d. immovable
d. immovable
Trade fixtures are:
a. removable by the tenant
b. used in a retail or commercial tenant’s trade or business
c. according to one legal theory, the personal property of the tenant
d. all of the above
d. all of the above
Which of the following is NOT a usual ingredient in making a portable item into real property?
a. bolt it down
b. cement it down
c. plug it in
d. nail it down
c. plug it in
Real property includes:
a. anything appurtenant to the land
b. anything severed from the land
c. chattels
d. personality
a. anything appurtenant to the land
The “bundle of rights” does not include the right to:
a. impede air traffic
b. lease the property to a tenant
c. do nothing to the property
d. mortgage the property
a. impede air traffic
Personal property is:
a. chattels
b. personality
c. usually movable
d. all of the above
d. all of the above
Once coal has been extracted from the earth, it is:
a. personal property
b. an attachment
c. a mineral right
d. real property
a. personal property
Which of the following would be considered a part of real property?
a. stock in a mutual water company
b. crops that have been sold on contract but not harvested
c. lumber that will be used to build a fence
d. a new mobile home offered for sale by a dealer
a. stock in a mutual water company
If an antenna is permanently attached to the roof of a building, it is:
a. real property
b. personal property
c. an emblement
d. a riparian right
a. real property
The distinction between real property and personal property is important in a sales transaction because:
a. anything that is part of the real property is transferred to the buyer, unless otherwise agreed
b. the legal description depends on the personal property
c. the buyer is responsible only for the cost of the real property
d. none of the above
a. anything that is part of the real property is transferred to the buyer, unless otherwise agreed
