Chp. 8 Quiz - Estates & Interests Flashcards
Water rights would be classified as
surface rights.
Legal life estates are created by
state law.
In addition to the land and all of the structures attached to the land, what else is considered real property?
The bundle of rights
Which right allows a property owner to prosecute trespassers?
Right to exclude
Which of the following is NOT an act of waste?
Maintaining landscape features
Which of the following best defines accretions?
Any increase in the land mass that results from the deposit of soil by water or wind action
Surface rights include
water rights.
When is a plant considered personal property?
When it requires human involvement
The estate of a deceased tenant in severalty
passes to heirs by probate.
Which of the following is an intangible component within the bundle of rights attached to land ownership?
Encumber
Which of the following is not included in “land”?
Structures on the earth’s surface
What type of organization provides the liability advantages of a corporation, without the regulations corporations must deal with?
LLC
Which ownership right allows for the donation of property?
To transfer
If an owner wants an antique chandelier to remain personal property, what must he or she do?
Have the intention of removing it when he or she sells the home
Never install it permanently
List it as a personal item when the property sells
[Any of the above]
Water rights are included in which other right?
Surface rights
Tenancy in common allows for
any number of people to be co-tenants in a single property.
Brothers Jim and Frank jointly hold a parcel of land. The property is held in
co-ownership.
When may an owner transfer water rights separate from the land?
Never
Which of the following is NOT a real property right?
Expand
Littoral rights include
land ownership up to the high-water mark.
Riparian rights refer to
rights of a property that abuts a stream or river.
Which of the following terms refers to the rights of a property that abuts a stream or river?
Riparian
Mary wants to indicate that her property will serve as a camp for foster children. What type of estate does Mary want?
Qualified Fee Simple
Which of the following best describes personal property?
Is readily moveable from one location to another
