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Real Estate Exam > Property Ownership, Land Use Controls, Regulations > Flashcards

Property Ownership, Land Use Controls, Regulations Flashcards

1
Q

Property is

A

Rights or interests

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2
Q

Describe real property

A

Immovable, land, fixtures, appurtenances, bearing wall

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3
Q

What are fixtures

A

Incorporated into land, affixed to land, become real property, not incidental

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4
Q

How do you identify if something is a fixture? (MARIA)

A

M - method of attachment
A - adaptability of the lien
R - relationship of the parties
I - intention
A - agreement

Not cost and not time of attachment

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5
Q

Explain encumbrances

A

Affects or limits title, not insurance

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6
Q

Explain a non-money encumbrance

A

Easement - buyer has same rights as seller

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7
Q

How can you prove your rights to easement

A

File a quite title suit (legal document)

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8
Q

What can you do to terminate use of easement

A

File a quitclaim deed

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9
Q

What is prescription in easement

A

Gives right to use since it’s been used over the years

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10
Q

Encroachment is

A

Sue neighbors for trespass

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11
Q

What are some money encumbrances

A

Lien (due to creditor), judgment (court of law), mortgage, trust deed

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12
Q

Describe estates (DQNE)

A

Degree, quantity, nature, extent of interest (who are involved) (DQNE)

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13
Q

Describe freehold estate

A

Ownership, indefinite, life/fee ownership

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14
Q

Fee simple defeasible is

A

Sold with a condition/agreement. (Ex. No alcohol)

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15
Q

Life estate is based on

A

Based on the duration of someone’s life

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16
Q

Estate in reversion is

A

2 parties involved, reverts back to original owner

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17
Q

Who’s involved in an Estate in remainder

A

3rd party involved

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18
Q

Less-than freehold estate is

A

Definite time period leases, leasing or renting interest

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19
Q

Estate for years is

A

Definite beginning and ending point, lease store building for 6 months, September 1 to January 1

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20
Q

Police power is

A

Zoning and planning, promote public health, safety, morals, general welfare

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21
Q

With police power, legal non-conforming use is

A

Is grandfathered in

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22
Q

Escheat is

A

When owner dies with no will or heirs, assets revert to state

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23
Q

Subdivision map act is managed by

A

Cities and counties

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24
Q

What does the planning commission not regulate

A

Ordinances

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25
Q

A master plan consists of

A

Planning, zoning districts, streets, seismic (earthquake zones)

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26
Q

Before burning trash you should

A

Contact local air district

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27
Q

Local building codes require

A

Minimum standards

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28
Q

When there a conflicts between codes, which one is of more of importance

A

The one with higher standards

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29
Q

Subdivided lands law is how many lots

A

5 lots or more

30
Q

Coastal commission is

A

Build near the ocean

31
Q

Deed restrictions are private restrictions that are set by

A

Developer or grantor

32
Q

Violating a condition for private controls, penalties are

A

Penalties are more severe

33
Q

Most restrictive restriction

A

Restricts

34
Q

Quiet enjoyment is

A

Possession, paramount title, not to be bothered by your landlord

35
Q

Subdivider gives public report to

A

Anyone, anytime

36
Q

What is not included in a public report by subdivider

A

Does not include reasonable values (sales prices)

37
Q

Building residential subdivision requires

A

Acquisition, approval, development

38
Q

To rescind approval of new subdivision you must

A

Desist (complaints and stop what you’re doing) and refrain order

39
Q

Negative declaration is

A

A statement that declares that there are no harm to environment

40
Q

In subdivision, liquidated damages are limited to

A

Amount of deposit

41
Q

Explain the interest in a condominium

A

Undivided interest in common, separate interest in air space

42
Q

Explain the interest of owners of condo, pud, co-op

A

Common interest in airspace above common areas

43
Q

In a condominium, seller provides buyer

A

By laws, CC&Rs, financial statement

44
Q

What does an infill developer do

A

Build on underutilized lot in populated area

45
Q

Smart growth is

A

Ecology friendly

46
Q

Brownfield Economic Development Initiative is

A

They redevelop contaminated properties, a HUD program

47
Q

EPA (Environmental Protection Agency) Superfund Sites does

A

Clean up toxic waste
Collection of statutes
Establish liability
Recovery Act of 1976

48
Q

What are special categories of land use

A

Timeshare interests
Resort development living
Housing for the elderly

49
Q

Percolating waters mean

A

Waters beneath surface

50
Q

Overlying rights mean

A

Pump and use underground waters

51
Q

Riparian owner means

A

Moving watercourse like river, flowing water, stream of water

52
Q

Littoral owner means

A

Water with shoreline like lake, standing water

53
Q

Appropriation is

A

Taking water from public stream

54
Q

Potable means

A

Water safe for drinking

55
Q

A property that’s movable, alienated, hypothecated is

A

Personal property

56
Q

Crop sold under contract is considered

A

Personal property

57
Q

Trade fixtures are considered

A

Personal property

58
Q

Chattel real is

A

Personal property in french

59
Q

Leasehold estates (owner, tenant) is considered

A

Not real property

60
Q

Emblements (crop grown by owner) is considered

A

Not real property

61
Q

Chose is

A

Personal property in French

62
Q

Picked fruit (agreement before escrow closes) is considered

A

Personal property

63
Q

Run with the land is

A

Appurtenances

64
Q

Easements are considered

A

Appurtenances

65
Q

Convenants (promises) are considered

A

Appurtenances

66
Q

Water company stock is an example of

A

Appurtenances

67
Q

Not fixtures are

A

Appurtenances

68
Q

Estate with most interest estate

A

Fee simple estate

69
Q

Estate with indefinite duration

A

Fee simple estate

70
Q

Estate with maximum rights

A

Fee simple estate

71
Q

Estate that leave to heirs

A

Estate of inheritance

72
Q

Estate that is not free of encumbrances

A

Fee simple estate

Real Estate Exam (8 decks)

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