Real Estate - Randomized Questions Flashcards
All of the following are treated as personal property EXCEPT
fructus naturales.
The type of real estate ownership that is MOST all-inclusive is a
fee simple estate.
A bill of sale is used to transfer the ownership of
personal property.
A trust is a legal arrangement in which title to property is held for the benefit of a third party by a(n)
Trustee
All of the following are included in the right to control one’s property EXCEPT
The right to exclude the utilities’ meter reader is NOT included as a right to control one’s own property
a woman held a fee simple title to a vacant lot and let people across use it for commercial only
Determinable fee estate
Appurtenances are:
Appurtenances are rights or privileges associated with the property and generally convey with the sale.
Which of the following is the best way to ensure that there are no encroachments and verify the boundaries of a parcel of land?
Get a spot survey
What is an escrow?
Escrow is when a neutral third party holds on to funds during a transaction.
In real estate, it’s used as a way to protect both the buyer and seller during the home purchasing process.
Equality in real estate means
That portion of the value of owners property that exceeds that amount of their mortgage debt is called. A. equality.
That portion of the value of owners property that exceeds that amount of their mortgage debt is called
Equality
TENANTS IN COMMON is:
*Unlike joint tenants, tenants in common do not need to hold equal ownership interests
