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Aware Chapter Tests 9-12
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Questions in this quiz (71)
1The word "_______" indicates an estate that can be inherited
- Afee
- Bestate
- Cinterest
- Dtenancy
2The most complete estate in land that one can hold is
- Afee simple determinable
- Bfee simple absolute
- Cfee simple subject to condition subsequent
- Dfee simple subject to executory interest
3A fee simple that is somehow qualified (limited) in the conveyancing instrument is known as
- Adefeasible fee
- Blife estate
- Cfee simple absolute
- Dconditional fee
4If an estate can expire automatically upon the occurrence or non occurrence of a specified event, and revert to the grantor, it is known as
- Afee simple absolute
- Bfee simple determinable
- Cfee simple subject to condition subsequent
- Dfee simple subject to executory interest
5If an estate can expire, but not automatically, by the occurrence or non occurrence of a specified event, and it does require an affirmative act of re-entry by the grantor or his/her successors, it is known as
- Afee simple subject to condition subsequent
- Bfee simple absolute
- Cfee simple determinable
- Dfee simple subject to executory interest
6If an estate can pass automatically from the grantee to some third person upon the occurrence or non occurrence of a specified event, it is known as fee simple
- Asubject to executory interest
- Babsolute
- Cdeterminable
- Dsubject to condition subsequent
7A freehold estate that is not inheritable is a
- Alife estate
- Bfee tail
- Cconditional fee
- Ddefeasible fee
8The type of life estate measured by the life of the grantee is known as a/an
- Alife estate by curtsey
- Bestate pur autre vie
- Cordinary life estate
- Dlife estate by dower
9An estate measured by the life of someone other than the grantee (life tenant) is known as
- Aestate pur autre vie
- Blife estate by curtsey
- Cordinary life estate
- Dlife estate by dower
10A present right to future possession of land is known as a/an
- Afuture interest
- Breversion
- Cremainder
- Dexecutory interest
11The residue of an estate which remains with the grantor who regains possession when an estate granted by him/her terminates is a
- Ajoint tenancy
- Blife estate
- Creversion
- Dremainder
12A future interest created in one other than the grantor that will become present possessory at the death of the life tenant is called
- Ajoint tenancy
- Blife estate
- Creversion
- Dremainder
13A freehold tenancy where one owner (person or corporation) owns the entire estate is
- Atenancy in severalty
- Btenancy in common
- Cjoint tenancy
- Dtenancy by the entirety
14A freehold tenancy in which two or more owners may own an undivided unequal percentage of interest in the same estate is known as
- Atenancy in common
- Btenancy in severalty
- Cjoint tenancy
- Dtenancy by the entirety
15A freehold tenancy in which two or more owners hold an undivided interest, each owns the entire estate, and there is a right of survivorship, is called
- Atenancy in severalty
- Btenancy in common
- Cjoint tenancy
- Dtenancy by the entirety
16Evidence of ownership often used as a substitute word for ownership is known as
- Atitle
- Bestate
- Ctenancy
- Dfee
17Individual rights in land, such as use, possession, control, and disposition, are a reflection of one's _______ in the land
- Ainterests
- Blicenses
- Ctenancies
- Deasements
18An interest in land that is or may become possessory and is ownership measured in terms of duration is the definition of ___________ in the Restatement of the Law of Property.
- Aestate
- Binterest
- Ctenancy
- Dtitle
19When used in relation to freehold estates, __________ describes how land is held (alone or with others)
- Atenancy
- Bestate
- Cinterest
- Dtitle
20An apartment complex sells each of its units to individuals in fee simple ownership. This is an example of a
- Aleasehold
- Bcondominium
- Ccooperative
- Dleaseback
21A condominium owner may hold title
- Aas a tenant in severalty
- Bas a joint tenant
- Cas a tenant in common
- Dall answers apply, but without the right to partition the common areas
22An owner of a cooperative receives ownership by
- Abill of sale
- Bdeed
- Cstock certificate
- Dnovation
23The owner of a cooperative is a
- Atenant at will
- Bjoint tenant
- Ctenant in common
- Dleasehold
24Which of the following statements is true?
- AA condominium owner owns real property in fee simple
- BA condominium owner owns personal property called shares
- CA cooperative owner owns real property in fee simple
- DA cooperative owner owns real property called stock
25M has purchased shares in a corporation and, in return, has received a proprietary lease. What kind of ownership is this agreement?
- ATime share
- BPUD
- CCondominium
- DCooperative
26The cooperative owner has a/an
- Adeed
- Bleasehold
- Cproprietary lease
- Dcondominium
27A business entity in which all participants are personally responsible for everything the business does is a/an
- Ac corporation
- Bgeneral partnership
- Cs corporation
- Dlimited partnership
28A type of business entity which is taxed like a partnership but is not a partnership is
- Aeither a C Corporation or a Real Estate Investment Trust
- Beither a Real Estate Investment Trust or an S Corporation
- Ceither an S Corporation or a C Corporation
- Donly an S Corporation
29A cooperative is classified as
- Aresidential
- Bcommercial
- Cheavy industrial
- Dlight industrial
30Estates are created, and title to real property may be acquired, in many ways. One is the gradual, imperceptible accumulation of land to that of a property owner by the action of water through natural causes. This is called
- Adedication
- Bavulsion
- Cerosion
- Daccretion
31When title is acquired by entering into actual physical possession of the land of another and remaining on it exclusively, openly, and notoriously for a time period stipulated by statute, it is known as
- Aprescription
- Badverse possession
- Coriginal entry
- Destoppel
32Accumulation of land when it is added by gradual deposits of soil which extend the bank of a stream is called
- Aalluvion
- Breliction
- Cestoppel
- Davulsion
33The transfer of private property to the public, without consideration, to be used for public purposes without limitation to restricted groups is called
- Adedication
- Bcondemnation
- Creservation
- Deminent domain
34The gradual and imperceptible increase of land caused by the receding of water is a form of accretion called
- Areliction
- Balluvion
- Cerosion
- Davulsion
35When real property is being transferred by will, this transfer is often called a
- Adevise
- Bdemise
- Cremise
- Dbequest
36In South Carolina, the person named in a will or appointed by the Court to settle the estate of the deceased is called
- Aexecutor
- Bexecutrix
- Cadministrator
- Dpersonal representative
37The sudden, perceptible removal of land is
- Aavulsion
- Balluvion
- Creliction
- Derosion
38Regulations which cities, towns, and countries have a right to pass to restrict the use of certain land areas are known as
- Azoning laws
- Beminent domain
- Csubdivision regulations
- Ddeed restrictions
39An exception to an existing zoning ordinance is called
- Anonconforming use
- Bvariance
- Cspot zoning
- Deminent domain
40When existing structures are allowed to continue in use after the area has been zoned for a different use, it is referred to as
- Anonconforming use
- Bvariances
- Ceminent domain
- Dpolice power
41When a different zoning status is applied to certain property from that given to surrounding properties, it is called
- Avariance
- Bspot zoning
- Czoning ordinance
- Dnonconforming use
42A law, regulation, or rule passed by a municipality, especially in dealing with zoning, is called a/an
- Aordinance
- Bsubdivision regulation
- Cvariance
- Dbuilding code
43The right of government to take private land for public purpose, upon just compensation to the owner, is called
- Aescheat
- Bcondemnation
- Ceminent domain
- Dadverse possession
44The procedure in which the government takes private land for public purposes is called
- Aeminent domain
- Bescheat
- Cadverse possession
- Dcondemnation
45Real property tax is a/an ____________ tax.
- Aad valorem
- Bspecial assessment
- Cfederal
- Dindirect
46Charges made upon specific real property which has been benefited by a betterment are called
- Aindirect taxes
- Bstate taxes
- Cspecial assessments
- Dad valorem taxes
47Property taxes are a/an _________ against the property taxed and become so automatically.
- Aprior lien
- Bfirst lien
- Cassessment ratio
- Dcapital gain tax
48____________ is a return of real or personal property to the state when an owner dies without either a will or legal heirs.
- Aescheat
- Bprofit a prendre
- Ccondemnation
- Dlicense
49Illegal infringement upon the property of another is called
- Aencumbrance
- Bencroachment
- Cprofit a prendre
- Dlicense
50A/an ___________ is the right given by a property owner to use his/her land for a particular purpose:
- Aprofit a prendre
- Blicense
- Ceasement
- Dencumbrance
51A/an ___________ is one's right of limited use over the land of another.
- Aeasement
- Bencumbrance
- Clicense
- Dprofit a prendre
52An easement in the servient estate for the benefit of the dominant estate is called a/an
- Aeasement appurtenant
- Blicense
- Ceasement in gross
- Dencroachment
53An easement which has a servient estate but not dominant estate is a/an
- Aeasement in gross
- Blicense
- Cmere license
- Deasement appurtenant
54A/an _________ is the right to take something from the land of another.
- Aprofit a prendre
- Blicense
- Cencumbrance
- Deasement
55A creditor's right to have a claim satisfied out of another's property is called a/an
- Alien
- Bjudgement
- Cattachment
- Dencumbrance
56A notice that a suit is pending is called a/an
- Alis pendens
- Blis alibi pendens
- Clis mota
- Dlitem suam facere
57Most liens take priority based on time and date of recording in the public records. The one type of lien that will be a first lien regardless of recording dates is a/an
- Aad valorem tax lien
- Bmechanic's lien
- Cfederal tax lien
- Dstate tax lien
58A lien granted to someone who performs labor on real property or furnishes material for the improvement of the property is known as
- Amechanic's lien
- Badverse property lien
- Cimprovement lien
- Dproperty debt lien
59Restrictive covenants, rights of way, and easements are types of encumbrances. How could they diminish the value of a property?
- AAny of them prevent the owner from using the property in any manner he/she deems.
- BThey cause the property to have no benefits whatsoever.
- CThese encumbrances cause the property to not have a highest and best use.
- DAny of these encumbrances are deemed to be undesirable by the typical purchaser and have less value.
60The purpose of the title investigation is to
- Aassure the lender and/or the purchaser that the seller can convey a good and marketable title
- Bassure the seller that the title being conveyed is good
- Cdetermine the marketability of the property which will be conveyed by the grantor to the grantee
- Dassure the lender and/or purchaser that the property will be marketable when and if there is a need to sell it
61A lien, charge or claim against real property which diminishes the value of the property, but doesn't prevent title from passing from the grantor to the grantee, is called an
- Aencumbrance
- Bencroachment
- Cemblement
- Deasement
62Good title differs from marketable title in the good title is one free from reasonable doubt, and marketable title is one free from reasonable doubt and encumbrances.
- ATrue
- BFalse
63Encumbrances may be classified as pecuniary, which means monetary or relating to money. Which of the following encumbrances would not be pecuniary?
- Amechanic's lien
- Bmortgages
- Crestrictive covenants
- Dspecial assessments
64The recorded history of conveyances (i.e. all of the grantors and grantees from the earliest time records were kept through the present owner) is a/an
- Achain of title
- Babstract of title
- Ccertificate of title
- Daffidavit of title
65A chronological digest of every instrument or event brought out by the title investigation is called a/an ____________ of title.
- Aabstract
- Bchain
- Caffidavit
- Dcertificate
66The statement of opinion prepared by a title examiner (in SC, this must be a lawyer) on the status of title to a parcel of real property is a/an _____________ of title.
- Acertificate
- Bchain
- Cabstract
- Daffidavit
67Title insurance is a contract with protects the insured against loss occurring through
- Athe discovery of defects in the title to the real property
- Bdefects in the improvements to the property
- Cfailure of the owner to pay taxes and therefore losing the title in a tax sale
- Dthe loss of the original
68Title insurance covers all but the which of the following?
- Adefects specifically excluded
- Bdefects not specifically excluded
- Cdefects in the records
- Ddefects not in the record
69There are two different types of title insurance policies. The mortgagee's policy is required most of the time when there is a new mortgage loan being originated, and the owner's policy is optional.
- ATrue
- BFalse
70Typically, there are standard exclusions in a title insurance policy. Which of the following is not one of them?
- Arecorded mechanic's lien
- Bany fact that an accurate survey would reveal
- Ctaxes not yet due
- Dspecial assessments not yet certified
71The existence of a claim or encumbrance that renders questionable the title of the present owner, even though the claims, etc. may be unsubstantiated, is called a
- Acloud on the title
- Bcolorable title
- Ccolor of title
- Ddefective title
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- End of chapter quizzes from Aware South Carolina
- Author
- Wilhelmina Littel
- Language
- English
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