Test
PROPERTY - Chapter 1
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Preguntas del test (25)
1Which of the following best describes a parcel of land?
- AThe surface of the earth includes all things permanently attached and the control of all minerals and substances beneath.
- BThe surface of the earth extending down to the center and upward to infinity.
- CThe earth's surface clearly marked by certain boundaries.
- DThe surface of the earth extending down a reasonable distance and up into the air a reasonable distance.
2In determining whether an item is a fixture, which of the following would not be considered?
- AMethod of attachment.
- BAdaptation to the real estate.
- CValue of the item.
- DLegal interest of the annexing party.
3The characteristic that distinguishes personal property from real property is:
- Amobility.
- Bscarcity.
- Cdurability.
- Dflexibility.
4When used in a deed or other real estate document, a legal description describes only the land because:
- Aa bill of sale is used to convey title to the buildings and other improvements.
- Bartificial attachments, such as buildings, cannot be adequately surveyed.
- Cbuildings and other improvements are considered to be part of the real estate.
- Da street address is used to identify the buildings and improvements.
5An item that was personal property but has been attached to and become part of the real property is known as:
- Aa trade fixture
- Ban emblement
- Cfructus industriales
- Da fixture
6Crops planted and harvested each year are:
- Apersonal property
- Bemblements
- Cfructus industriales
- Dall of the above
7The most distinctive physical characteristic of land is:
- Ahomogeneity
- Bimmobility
- Csitus
- Dimprovements
8All of the following are real property EXCEPT:
- Aoil below the earth's surface
- Ba concrete driveway
- Ccut timber
- Dair rights
9The law of capture refers to the:
- Aprocess of removing oil and gas from the land
- Bgovernment's right of eminent domain
- Clandowner's right to keep trade fixtures if not removed
- Dresponsibility of lateral support while removing solid minerals
10The sum of all factors that affect value is called:
- Alocation
- Baccession
- Csitus
- Dscarcity
11Ownership of personal property is transferred by:
- Adeed
- Bchattel deed
- Cbill of sale
- Dsales agreement
12A landowner's right to use water from a bordering stream or river is called:
- ALittoral right
- BRight of prior appropriation
- CRiparian right
- DCorrelative right
13If Smith builds a fence on Jones' land by mistake, in good faith, and thinking the fence is on Smith's land, then:
- AJones automatically acquires ownership of the fence by accession
- BJones may sell the fence and keep the proceeds
- CJones may require Smith to remove the fence and/or pay damages
- Dboth (A) and (B)
14The fact that an acre of land in a rural area cannot fulfill as many needs as an acre of urban land describes the economic characteristic of:
- Ascarcity
- Bsitus
- Cimprovements
- Dlocation
15All of the following are true about a trade fixture EXCEPT:
- Ait is personal property
- Bit is chattel real
- Cit may be removed only after the lease expires
- Dit belongs to the property owner if not removed in a timely manner
16Dawson sold his 500 acre farm to Harris, but reserved the right to drill for oil. Later, when Dawson arrives with oil drilling equipment, he is denied the right of access to the land. Which party has correctly interpreted the agreement?
- ADawson, because he had an implied right of entry
- BHarris, because the agreement was silent as to the right of entry
- CDawson, but he must pay Harris a reasonable fee for the right of access and reimburse him for any damages caused by the drilling operation
- DHarris, but he may be liable if his denial was unreasonable
17A township contains how many square miles?
- A6
- B16
- C640
- D36
18Which of the following statement about air rights is true?
- AAir rights can be leased but not sold unless the entire parcel is being sold
- BThe owner can sell the air rights and still retain the surface and subsurface rights
- CGovernment controls such as zoning have no effect on air rights
- DStructures are rarely erected on air lots
19A custom-made storm window would most likely be considered a fixture because of:
- Aits adaptation to the building to which it is attached
- Bthe method of attachment
- Cthe annexing party's intent to make it permanent
- Dthe annexing party's interest in the real property
20The method of land description which identifies a parcel by specifying its boundary lines along with the terminal points and the bearing of each side is known as:
- Alot, block, and tract
- Brecorded plat
- Cgovernment survey
- Dmetes and bounds
21Which of the following is NOT an acceptable method of legally describing a parcel of real estate?
- AStreet addresses, county, and state
- BMetes and bounds
- CRectangular surveys
- DRecorded plats
22A base point from which height or depth can be measured to describe air rights or subsurface rights is a:
- Atopographic
- Bbenchmark
- Cpoint of beginning
- Ddatum
23Approximately how many acres are there in a farm that measures 470 feet along the road and 556 feet in depth?
- A261
- B6
- C50
- D320
24If Mr. Shern's lot has 65 front feet and contains 7,150 square feet, how deep is it?
- A110 ft
- B100 ft
- C65 ft
- D464,750 ft
25Real Estate investors are not generally interested in how long buildings will last, but in how long they will be profitable. This characteristic is called:
- Alife expectancy
- Bprofit margin
- Cnet return
- Deconomic life
Información
- Descripción
- Test sobre PROPERTY - Chapter 1, creado por cfran51821 el 29/10/2015.
- Autor
- cfran51821
- Idioma
- English
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- 252
- Etiquetas
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