Chapter 8 Real property rights

Question 1

Which of the following statements most accurately describes a distinction between real estate and real property?

Answer 1

Real estate is physical, tangible, and immobile; real property includes the physical land and improvements (real estate), together with the rights to own or use the property.

Question 2

What is the opposite of erosion?

Answer 2

Accretion is the increase in land area as moving water deposits soil in other than its original location

Question 3

All of the following are examples of personal property, except

Answer 3

An Installed kitchen sink

NOT personal property since it is permanently attached to the building

Question 4

Which of the following is intangible?

Answer 4

Stocks and bonds

Question 5

If a court uses the four tests to determine whether or not an item is personal or real property, which of the following items would most likely be determined to be part of the real estate?

Answer 5

A ceiling fan in the family room

Removal of the fan would require tools for removal thus it is considered to be part of the real estate

Question 6

Real property laws in the United States are based on the allodial system. What does this mean?

Answer 6

Private citizens have the right to own and to enjoy a bundle of rights associated with ownership of the land

Question 7

The owner of the house has the right to occupy that house. This is an example of which right?

Answer 7

Possession

provides the owner with a right to occupy the house

Question 8

The owner of a house has the right to will that house to his or her heir. This is an example of which right?

Answer 8

Disposition

The right to sell the property, give it away, or leave it in a will

Question 9

What is a freehold estate?

Answer 9

An estate in which the tenant has an ownership interest

Question 10

What is an estate in severalty?

Answer 10

Ownership of the entire bundle of rights by one person

Question 11

What for unities are required for the creation of a joint tenancy?

Answer 11

Possession, interest, time, and title

Question 12

All of the following statements about tenancy by the entireties are accurate, except:

Answer 12

If the husband and wife divorce the estate becomes a joint tenancy unless the court states otherwise, not true the ownership converts to a tenancy in common

Question 13

The party who receives ownership of a life estate is called what?

Answer 13

Life tenants

Question 14

The rights of a grant her to regain ownership of the estate upon the death of the life tenant is called what?

Answer 14

Reversion estate

Question 15

What is the difference between a reversion estates and a remainder estate?

Answer 15

Upon death of the life tenant, a reversion estate returns to the grantor, whereas the remainder is state passes to a party other than the grantor

Question 16

What is a non-freehold estate?

Answer 16

An estate in which the tenant does not have an ownership interest

Question 17

All of the following statements about tenancy at will or accurate, except:

Answer 17

 tenancy I was terminated upon the time limit specified in the lease agreement between the landlord and the tenant, not true has no definite time limit

Question 18

All of the following are ways by which a tenancy for years can be ended, except:

Answer 18

At will by the landlord, not true

Question 19

All of the following statements about elective share are accurate, except

Answer 19

 Elective share is automatic, not true

it must be elected by filing with the court within four months of the date of first public notice

Question 20

What does it mean if a person dies intestate?

Answer 20

The person did not have a will

Question 21

What is a descendent

Answer 21

The person who has died

Question 22

What is a Homestead?

Answer 22

Real property that is owned by the head of the household who resides there in

Question 23

Homestead law protects the homestead property against foreclosure or forced sale for all of the following, except:

Answer 23

 that’s of the head of the household that are related to the homestead property are not protected

Question 24

All of the following are included in the ownership of a condominium unit, except:

Answer 24

Insurance coverage for the interior of the unit is not included

Question 25

All of the following documents associated with condominiums, except:

Answer 25

A proprietary lease, is associated with co-ops not condominiums

Question 26

What is unique about ownership in a co-op association?

Answer 26

A cooperative association is a corporation where unit owners are stockholders of the corporation

Question 27

What is the required cooling off period for purchases of timeshares?

Answer 27

10 days

Question 28

Which energy regulates condominiums, cooperative, mobile home parks and timeshare facilities?

Answer 28

The division of Florida condominiums, timeshares, and mobile homes

Question 29

All of the following persons are required to have a real estate license, except:

Answer 29

A person who sells condominium units as a salaried employee of an owner developer, not required

Question 30

All of the following must be disclosed to a buyer when membership is required in a homeowners association, except:

Answer 30

The financial status of the HOA, including the prior years association tax returns and financial accounting records
these are not part of the require disclosures

Question 31

Key terms

Answer 31

Community development districts, 
condominium, 
cooperative, 
declaration, 
fee-simple estate, 
fixture, 
freehold estate, 
homeowners association, 
homestead property, 
joint tenancy, 
land, 
leaseholder state, 
life estate, 
personal property, 
proprietary lease, 
real estate, 
real property, 
remaindermen, 
right of survivorship, 
separate property, 
tenancy at sufferance, 
tenancy at will, 
tenancy by the entireties, 
tenancy for years, 
tenancy in common, 
timeshare