QUIZ QUESTIONS Flashcards
What is another name for the subdivision method of land description?
Lot and block method
Another name for the rectangular survey system is
Government survey system
The oldest method of land description in the United States is
Meet and bounds method
Economic characteristics of real property include
Scarcity, location, and improvements
Physical characteristics of real property include
Immobility, indestructibility and uniqueness
Situs is another word for
Location
What does appurtenant mean?
Attached to the land
Legal tests of a fixture include
Method of annexation, adaptability, relationship of the parties
Annexation is the process by which
Personal property becomes real property
Severance occurs when
An item of real property becomes personal property
The definition of land does not include
Emblements
What are examples of fixtures?
Heating system, bathroom, cabinets, light fixtures
Personality is another name for
Chattel
Real estate is defined as
All human made improvements, land, permanent attachments
What are the bundle of rights?
Right of possession
Right of use
Right of quiet enjoyment
Right of exclusion
Right of disposition
Samantha Smith has the legal right to act as if she owns the property although the property is actually owned by her sister Samantha is who
A holder of a life estate
A woman owned the feesimple title to a lot adjacent to her home. Upon her death, she willed the lot to the city pursuant to the city using the law as a park. This gives the city a what
Fee simple determinable
How might a homeowner be allowed certain protections from creditors?
Homestead rights
A life estate put autre vie is
Based on the lifetime of a person, other than the life tenant
Life estate is
Freehold estate based on the lifetime of a person
Fee simple defeasible is
Qualified fee estate, subject to the occurrence of a special event
Fee simple state is the same thing as what
Fee simple absolute
Freehold estates include
Fee simple
Fee simple defeasible
Life estates
The word ownership means the same thing as what other word
Freehold