National Lesson 1

Question 1

Real property can be converted to personal property by a process known as _______.

Answer 1

Severance

Question 2

A(n) ________ is personal property that has been converted to real property by being permanently affixed or attached to the land or building

Answer 2

Fixture

Question 3

A person’s choice or desire for a given area; area preference, is also known as _______.

Answer 3

Situs

Question 4

A lien which attaches to all property owned by the debtor is called ___________.

Answer 4

General lien

Question 5

_________ is a right, privilege or interest which one party has in the land of another.

Answer 5

Easement

Question 6

A(n) __________ is the illegal extension of a building or some other improvement beyond the land of one owner and onto the land of an adjacent owner.

Answer 6

Encroachment

Question 7

____________ is the form of real estate ownership automatically provided by law when two or more people own real estate together.

Answer 7

Tenancy in common

Question 8

A trust set up to take effect once the trustor has died is called a ___________.

Answer 8

Testamentary trust

Question 9

A(n) __________ is ownership of property for a specified period of time each year.

Answer 9

Time-share

Question 10

A method of land description which identifies a parcel by specifying its shape and boundaries is called __________.

Answer 10

Metes and bounds