Unit 2 Quiz Flashcards
- Real estate generally includes all of the following except
A. Trees
B. air rights
C. annual crops
D. mineral rights
C.annual crops
- Which best describes shelving fastened in an commercial building by the tenant?
A. Trade fixtures
B. Fixtures of Trade
C. Building owners
D. Personal property
A. Trade fixtures
- The word nonhomogeneity refers to
A. Scarcity
B. Immobility
C. Uniqueness
D. Indestructiblity
Answer
C. Uniqueness
- Another term for personal property is
A. Realty
B. Fixtures
C. Chattels
D. Fructus naturales
Answer
C. Chattels
A property owner wants to use the water from the river that runs through the property to irrigate a potato field to do this the owners required by the state to submit an application. It could be assumed that the property owner state relies on which wall of law? A. Riparian rights B. Littoral rights C doctrine of prior appropriation D. doctrine of highest and best use
Answer:
Doctrine of prior appropriation
- A man inherits a piece of vacant land removed and sold all topsoil, lime stone and gravel. At his death, he left the property to his daughter which is true?
A.daughter inherits nothing. Property no longer exist.
B. The daughter inherited the property as is
C. the daughter owns the gravel limestone and topsoil no matter where it is
D. the man’s estate must be restored to its original condition
Answer:
B . The daughter inherits the property as is.
And determining whether an item is real or personal property, a quart would not consider which of the following?
A. The cost of an item when it was purchased
B. whether it’s removal would cause severe damage to the real estate
C. whether the item is clearly adapted to the real estate
D. any relevant agreement of the parties in their contract of sale
Answer:
A. The cost of the item when it was purchased.
- Which of the following is a physical Characteristic land?
A. Indestructibility
B. Improvements
C. area preference
D. scarcity
Answer:
Indestructibility
- Which of the following describes the act by which real property could be converted into personal property?
A. Severance
B. Accession
C. Conversion
D. Attachment
Answer:
A. Serverance
- A buyer of a newly purchased home discovered the ceiling fan was removed the contract did not address the issue. Which statement is true?
A. Ceiling fans are usually considered real estate
B. the ceiling fan belongs to the seller.
C. ceiling fans are considered trade fixtures.
D. ceiling fans are considered personal property
Answer:
A. Ceiling fans are usually considered real estate.
- A buyer purchased a parcel of land and immediately sold the mineral rights to an oil company. The buyer gave up which of the following?
A. Air rights
B. surface rights
C. subsurface rights
D. occupancy rights
Answer:
C. Surfaces rights
- A truckload of lumber that a homeowner purchased has been left in the driveway for use in building a porch. The lumber is considered
A. Real property
B. personal property
C. a chattel that is real property
D. a trade or chattel fixture.
Answer:
B. Personal property
- Method of annexation, adaptation to real estate, and agreement between the parties are the legal test for determining whether an item is
A. A trade fixture or personal property
B. real property or real estate
C. a fixture or personal property
D. an improvement
Answer:
C.a fixture or personal property
- Parking spaces and a multiunit building, water rights and similar things of value that convey with the property are classified as
A. Conventant
B. Emblements
C. Chattels
D. Appurtenances
Answer:
D. Appurtenances
- A paint company purchases a large track of scenic forest and builds several tin shacks there to store used turpentine and other items.
which statement is true?
A. The companies actions constitutes improvement of the property.
B. the chemicals are considered appurtenances.
C. The chemicals are considered trade fixtures. D. altering the property in order to store waste is not included in the bundle of rights.
Answer:
A. The company’s actions constitutes improvement of the property.
