Question 1

If the parties involved agree that personal property will be considered a fixture,it will be deemed to be a fixture without the application of legal tests.

Accepted Answer

A) True 
 B)False  True

Question 2

Real property includes land and all rights in land.

Accepted Answer

A) True 
 B)False  True

Question 3

Equipment attached to a rented building by a tenant and used in business is:

Accepted Answer

A)  called a trade fixture. 
B)  called a business fixture. 
C)  called a commercial fixture. 
D)  not a fixture. 
A)  called a trade fixture. 
B)  called a business fixture. 
C)  called a commercial fixture. 
D)  not a fixture. A

Question 4

The right to cut firewood from another's property would constitute a profit.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following represents a duty owed by a landowner to a trespasser?

Accepted Answer

A)  the duty to refrain from causing intentional harm once the presence of the trespasser is known 
B)  the duty to warn the trespasser of dangers existing on the premises 
C)  the duty to make the premises safe to protect the trespasser from harm 
D)  none of the above,since a landowner has no legal duty to a trespasser 
A)  the duty to refrain from causing intentional harm once the presence of the trespasser is known 
B)  the duty to warn the trespasser of dangers existing on the premises 
C)  the duty to make the premises safe to protect the trespasser from harm 
D)  none of the above,since a landowner has no legal duty to a trespasser

Question 6

An easement is a right to use another's property that belongs to the land that is benefited.

Accepted Answer

A) True 
 B)False

Question 7

Characteristics of the fee simple estate include all of the following except:

Accepted Answer

A)  it is alienable during life. 
B)  it is not subject to rights of the owner's surviving spouse. 
C)  it is alienable by will. 
D)  it can be attached or used to satisfy the owner's debts before or after the owner's death. 
A)  it is alienable during life. 
B)  it is not subject to rights of the owner's surviving spouse. 
C)  it is alienable by will. 
D)  it can be attached or used to satisfy the owner's debts before or after the owner's death.

Question 8

Which of the following can constitute an effective delivery of a deed?

Accepted Answer

A)  a physical delivery 
B)  a symbolic delivery 
C)  a constructive delivery 
D)  all of the above 
A)  a physical delivery 
B)  a symbolic delivery 
C)  a constructive delivery 
D)  all of the above

Question 9

Which statement is incorrect concerning mortgages?

Accepted Answer

A)  The mortgagee's interest terminates upon performance of the obligation secured by the mortgage. 
B)  The mortgagee has the right to enforce the mortgage by foreclosure upon default by the mortgagor. 
C)  The mortgagor must have complete or absolute ownership in the property. 
D)  Generally,no particular form of language is required to create a mortgage. 
A)  The mortgagee's interest terminates upon performance of the obligation secured by the mortgage. 
B)  The mortgagee has the right to enforce the mortgage by foreclosure upon default by the mortgagor. 
C)  The mortgagor must have complete or absolute ownership in the property. 
D)  Generally,no particular form of language is required to create a mortgage.

Question 10

A license is different from an easement in that it is a personal,revocable privilege to do something on the land of another.

Accepted Answer

A) True 
 B)False

Question 11

Recording statutes provide that a person purchasing land from the last holder of record will take title free of any unrecorded claim to the land of which the purchaser does not have notice or knowledge.

Accepted Answer

A) True 
 B)False

Question 12

Technically,land is considered as extending downward to the earth's center and upward indefinitely.

Accepted Answer

A) True 
 B)False

Question 13

Real property includes:

Accepted Answer

A)  land. 
B)  shrubs,grass and tress. 
C)  rights in the land of another. 
D)  all of the above. 
A)  land. 
B)  shrubs,grass and tress. 
C)  rights in the land of another. 
D)  all of the above.

Question 14

A summarized report of title to property is called:

Accepted Answer

A)  title protection insurance. 
B)  title assessment insurance. 
C)  an abstract of title. 
D)  an instrument of title. 
A)  title protection insurance. 
B)  title assessment insurance. 
C)  an abstract of title. 
D)  an instrument of title.

Question 15

The rights of the mortgagor after default include the right to obtain a stay of foreclosure to prevent undue hardship and a right of redemption.

Accepted Answer

A) True 
 B)False

Question 16

A covenant that passes with the land so that whoever owns the land is bound by or entitled to the benefit of the covenant

Accepted Answer

A)  is a covenant of seisin. 
B)  is a covenant of further assurances. 
C)  is a covenant of quiet enjoyment. 
D)  is said to run with the land. 
A)  is a covenant of seisin. 
B)  is a covenant of further assurances. 
C)  is a covenant of quiet enjoyment. 
D)  is said to run with the land.

Question 17

A promise that the grantor of an interest in land will execute any additional documents required to perfect the title of the grantee is known as a covenant:

Accepted Answer

A)  of seisin. 
B)  of further assurances. 
C)  against encumbrances. 
D)  of quiet enjoyment. 
A)  of seisin. 
B)  of further assurances. 
C)  against encumbrances. 
D)  of quiet enjoyment.

Question 18

A deed is not effective to pass title unless it is properly recorded.

Accepted Answer

A) True 
 B)False

Question 19

Which is not a correct statement about deeds?

Accepted Answer

A)  The grantor must sign the deed. 
B)  A deed must be recorded to effectively pass title. 
C)  The fact that a deed is recorded provides notice to the world about who holds title. 
D)  A deed must be delivered to be effective. 
A)  The grantor must sign the deed. 
B)  A deed must be recorded to effectively pass title. 
C)  The fact that a deed is recorded provides notice to the world about who holds title. 
D)  A deed must be delivered to be effective.

Question 20

Personal property that has become a fixture is still classified as personal property.

Accepted Answer

A) True 
 B)False

Exam 49: Real Property

If the parties involved agree that personal property will be considered a fixture,it will be deemed to be a fixture without the application of legal tests.

Real property includes land and all rights in land.

Equipment attached to a rented building by a tenant and used in business is:

The right to cut firewood from another's property would constitute a profit.

Which of the following represents a duty owed by a landowner to a trespasser?

An easement is a right to use another's property that belongs to the land that is benefited.

Characteristics of the fee simple estate include all of the following except:

Which of the following can constitute an effective delivery of a deed?

Which statement is incorrect concerning mortgages?

A license is different from an easement in that it is a personal,revocable privilege to do something on the land of another.

Recording statutes provide that a person purchasing land from the last holder of record will take title free of any unrecorded claim to the land of which the purchaser does not have notice or knowledge.

Technically,land is considered as extending downward to the earth's center and upward indefinitely.

Real property includes:

A summarized report of title to property is called:

The rights of the mortgagor after default include the right to obtain a stay of foreclosure to prevent undue hardship and a right of redemption.

A covenant that passes with the land so that whoever owns the land is bound by or entitled to the benefit of the covenant

A promise that the grantor of an interest in land will execute any additional documents required to perfect the title of the grantee is known as a covenant:

A deed is not effective to pass title unless it is properly recorded.

Which is not a correct statement about deeds?

Personal property that has become a fixture is still classified as personal property.

The Nature and Sources of Law

The Court System and Dispute Resolution

Business Ethics, Social Forces, and the Law

The Constitution As the Foundation of the Legal Environment

Government Regulation of Competition and Prices

Administrative Agencies

The Legal Environment of International Trade

Crimes

Torts

Intellectual Property Rights

Cyberlaw

Nature and Classes of Contracts: Contracting on the Internet

Formation of Contracts: Offer and Acceptance

Capacity and Genuine Assent

Consideration

Legality and Public Policy

Writing, Electronic Forms, and Interpretation of Contracts

Third Persons and Contracts

Discharge of Contracts

Breach of Contract and Remedies

Personal Property and Bailments

Legal Aspects of Supply Chain Management

Nature and Form of Sales

Title and Risk of Loss

Product Liability: Warranties and Torts

Obligations and Performance

Remedies for Breach of Sales Contracts

Kinds of Instruments, parties, and Negotiability

Transfers of Negotiable Instruments and Warranties of Parties

Liability of the Parties Under Negotiable Instruments

Checks and Funds Transfers

Nature of the Debtor-Creditor Relationship

Consumer Protection

Secured Transactions in Personal Property

Bankruptcy

Insurance

Agency

Third Persons in Agency

Regulation of Employment

Equal Employment Opportunity Law

Types of Business Organizations

Partnerships

LPs, LLCs, and LLPs

Corporate Formation

Shareholder Rights in Corporations

Securities Regulation

Accountants Liability and Malpractice

Management of Corporations

Environmental Law and Land Use Controls

Leases

Decedents Estates and Trusts

Filters