Chapter Two - Rights in Real Estate Flashcards
22 Questions
What guarantees the right of private ownership of real estate in the United States?
a. Common law
b. Local statutes
c. The Napoleonic Code
d. The Constitution
d. The Constitution
Which of the following is the best definition of real estate?
a. Land and personal property
b. Unimproved land
c. Land and everything permanently attached to it
d. An ownership interest in land and improvements
c. Land and everything permanently attached to it
Which of the following is included in the legal concept of land?
a. The surface of the earth and all natural things permanently attached to the earth
b. Only the surface of the earth that is delineated by boundaries
c. The surface of the earth except for lakes and streams
d. Everything above, on and below the surface of the earth
a. The surface of the earth and all natural things permanently attached to the earth
What are the three unique physical characteristics of land?
a. Fixed, unchangeable, homogeneous
b. Immobile, indestructible, heterogeneous
c. Three-dimensional, buildable, marketable
d. Natural, measurable, inorganic
b. Immobile, indestructible, heterogeneous
The primary distinction between the legal concepts of land and real estate is that
a. real estate includes air above the surface and minerals below the surface.
b. real estate is indestructible.
c. land has no defined boundaries.
d. land does not include man-made structures.
d. land does not include man-made structures.
The primary distinction between the legal concepts of real estate and real property is that
a. real property includes ownership of a bundle of rights.
b. real property includes improvements.
c. real property is physical, not abstract.
d. real estate can be owned.
a. real property includes ownership of a bundle of rights
Which of the following is included in the bundle of rights inherent in ownership?
a. To inherit
b. To tax
c. To transfer
d. To vote
c. To transfer
Which of the following is an example of intangible property?
a. Real estate
b. Personal property
c. Artwork
d. Stock
d. Stock
The right to use real property is limited by
a. the right of others to use and enjoy their property.
b. the police.
c. taxation and subordination.
d. Title 12 of the U.S. Civil Code.
a. the right of others to use and enjoy their property.
Surface rights, air rights and subsurface rights are
a. inviolable.
b. unrelated.
c. separable.
d. not transferable.
c. separable.
Which of the following terms refers to the rights of a property that abuts a stream or river?
a. Allodial
b. Alluvial
c. Littoral
d. Riparian
d. Riparian
What part of a non-navigable waterway does the owner of an abutting property own?
a. To the low-water mark
b. To the middle of the waterway
c. To the high-water mark
d. None
b. To the middle of the waterway
What is the “Doctrine of Prior Appropriation?”
a. A preemptive zoning ordinance
b. The right of government to confiscate land and improvements
c. A doctrine that gives the state control of water use and the water supply
d. A real estate tax applied to owners of water rights
c. A doctrine that gives the state control of water use and the water supply
Which of the following is considered real property?
a. A tree growing on a parcel of land
b. A tree that has been cut down and is lying on a parcel of land
c. A tractor used to mow grass on a parcel of land
d. A prefabricated
a. A tree growing on a parcel of land
The overriding test of whether an item is a fixture or personal property is
a. how long it has been attached to the real property.
b. its definition as one or the other in a sale or lease contract.
c. how essential it is to the functioning of the property.
d. how it was treated in previous transactions.
b. its definition as one or the other in a sale or lease contract.
What is an emblement?
a. A piece of equipment affixed to the earth
b. A limited right to use personal property
c. A sign indicating a property boundary
d. A plant or crop that is considered personal property
d. A plant or crop that is considered personal property
An item can be converted from real to personal property and vice versa by means of which processes?
a. Assemblage and plottage
b. Application and dissolution
c. Affixing and severance
d. Personalty and severalty
c. Affixing and severance
The major sources of real estate law are legislation at federal, state and local level, and
a. court decisions.
b. professional real estate associations.
c. real estate commissions.
d. local practices.
a. court decisions.
What is the primary thrust of federal involvement in real estate law?
a. Taxation
b. Licensing
c. Broad regulation of usage
d. Zoning
c. Broad regulation of usage
Which level of government controls zoning laws?
a. State
b. Taxing authorities
c. Federal
d. County and local
d. County and local
A grocer temporarily installs special fruit and vegetable coolers in a leased grocery store in order to prevent spoilage. The coolers would be considered which of the following?
a. Trade fixtures that are real property
b. Trade fixtures that are personal property
c. Permanent fixtures that are real property
d. Permanent fixtures that are personal property
b. Trade fixtures that are personal property
Under the doctrine of littoral rights, an owner claims ownership of all of the land underlying a lake where
there are three other abutting property owners. Which of the following is true?
a. The owner’s claim is invalid, because the state owns the underlying land.
b. The owner’s claim is invalid, because the underlying land is shared equally with the other owners.
c. The owner’s claim is invalid, because he may only own underlying land to the middle of the lake.
d. The owner’s claim is valid, because the lake is navigable.
a. The owner’s claim is invalid, because the state owns the underlying land.
