Exam 25: Real Property and Land Use Regulation

A tenancy for years terminates automatically,without notice,upon the expiration of the stated term.

Plant life and vegetation growing on the surface of land are considered personal property.

Which of the following legislation makes it unlawful for a party to refuse to sell,rent,finance or advertise housing to any person because of his or her race,color,national origin,sex,religion,disability,or family status?

A ________ grants the owner all the incidents of a fee simple absolute except that ownership may be taken away if a specified condition occurs or does not occur.

Subsurface rights cannot be sold separately from surface rights.

Buildings constructed on land are considered personal property.

What is a life estate?

The two forms of future interests in rights of possession are reversion and ________.

A ________ is a form of co-ownership that includes the right of survivorship.

Properties owned by state and federal governments are subject to the doctrine of adverse possession.

A ________ is an exception that permits a type of building or use in an area that would not otherwise be allowed by a zoning ordinance.

An easement is an example of a nonpossessory interest in another's real property.

A joint tenant does not have the right to sell or transfer his or her interest in the property.

Reversion occurs when the rights of possession return to a third party upon the expiration of a limited estate.

Ben is a successful investment banker who earns $400,000 per year.Ben marries Elena,a nurse at a county hospital.At the time of their marriage,Ben owns real estate worth $1 million and securities worth $1.5 million,while Elena has no savings or property.After four years,Ben and Elena opt for a divorce.Over the four years of their marriage,Ben earns $400,000 in the first two years and $500,000 in the remaining two.Elena earns $25,000 in the first three years and $150,000 in the final year of their marriage.Their living expenses were $130,000 per year,and they have $1,450,000 of their earnings saved in a bank account.During the marriage,Ben's real estate increases in value to $1.5 million,and his securities increase in value to $3 million.If Ben and Elena file for divorce in a state that recognizes community property,what would be Ben's share of the real estate and securities holdings at the end of their marriage?

Kate,Kelly,Rita,and Lucy own a large commercial building as joint tenants with a right of survivorship.Kate sells her one-quarter interest in the building to Bao.After the sale,Bao,Kelly,Rita,and Lucy are ________.

A transfer of the right to the possession and use of real property for a set term in return for certain consideration is known as a ________.

Which of the following is the implied default title conveyed in the sale of real estate?

The legal right a real property owner has to possess,use,and enjoy the property is known as a(n)________.

Which of the following is true of a tenancy by the entirety?