Legal Aspects of Real Estate: Q3/Chp 5-6

Question 1

1) __________ are improvements made to leased property to meet the needs of the occupying tenant.
a. Mechanic’s liens
b. Tenant improvements
c. Lease agreements
d. Encroachments

Answer 1

b. Tenant improvements

Question 2

2) An improvement which a tenant is required to make in exchange for a reduction in rent is an example of a:
a. mandatory encroachment.
b. mandatory improvement.
c. permissive improvement.
d. permissive fixture.

Answer 2

b. mandatory improvement.

Question 3

3) An improvement which is authorized but not required by the landlord is called a:
a. mandatory encroachment.
b. mandatory improvement.
c. permissive improvement.
d. permissive fixture.

Answer 3

c. permissive improvement.

Question 4

4) On expiration of a lease, the passage of real estate fixtures from the tenant to landlord is a conveyance called:
a. forfeiture.
b. tariff.
c. sacrifice.
d. reversion

Answer 4

d. reversion

Question 5

5) __________ are improvements unique to the tenant’s business which may be removed by the tenant upon expiration of a lease or rental agreement.
a. Trade fixtures
b. Fugacious matter
c. Airspace
d. Walls

Answer 5

a. Trade fixtures

Question 6

6) A __________ sets the terms of a fixed-term tenancy.
a. rental agreement
b. guest occupancy agreement
c. lease agreement
d. listing agreement

Answer 6

c. lease agreement

Question 7

7) A rental agreement sets the terms of a:
a. periodic tenancy
b. fixed-term tenancy
c. tenancy at sufferance
d. tenancy at will

Answer 7

a. periodic tenancy

Question 8

8) On expiration of a lease, a tenant who remains in possession of a property without an agreement or acceptance of rent by the landlord for the extended occupancy becomes a(n):
a. holdover tenant.
b. life tenant.
c. transient occupant.
d. fee owner

Answer 8

a. holdover tenant.

Question 9

9) A tenancy relationship may be changed by:
a. notice.
b. expiration of a lease.
c. Both a. and b.
d. None of the above

Answer 9

c. Both a. and b.

Question 10

10) An occupant of a vacation property, motel or hotel for less than 30 days is classified as a:
a. lien holder.
b. transient occupant.
c. residential property owner.
d. commercial property owner.

Answer 10

b. transient occupant.