Deck 48: Real Property

Question 1

Land held in fee simple absolute has no limitations on inheritability or duration.

Answer 1

True

Question 2

Property rights do not exist in air space parcels.

Answer 2

False

Question 3

A life tenant may not mortgage the property in which he has a life estate.

Answer 3

False

Question 4

Radio towers and bridges are considered to be real property.

Question 5

The concept of real property involves the physical aspects of the land,such as trees,grass,and bushes.

Question 6

Fee simple defeasible can be thought of as complete ownership with a limitation,which if violated,results in the loss of the property.

Question 7

The highest form of land ownership is a fee simple absolute.

Question 8

Cultivated plant life is not considered to be real property.

Question 9

In order for fixtures to be included in a sale of a building,the contract must so provide.

Question 10

In theory,mineral rights to land can extend to the center of the earth.

Question 11

Co-ownership of real property is known as concurrent ownership.

Question 12

An estate is a large dwelling on land.

Question 13

A person's ownership rights in real property are called an estate.

Question 14

In joint tenancy,any owner may transfer her interest without the consent of the other joint tenants.

Question 15

Throw rugs and furniture are classified as fixtures.

Question 16

The surface rights and the subsurface rights for the same parcel of real property can be owned by two different persons.

Question 17

Plant life that is severed from the land is considered personal property.

Question 18

If Bob holds a life estate and sells it to Sally,the life estate will terminate upon Sally's death.

Question 19

A life estate cannot be transferred.

Question 20

A freehold estate is one in which the owner has a future interest in land.

Question 21

In a cooperative,an owner owns shares in a corporation that owns the entire building.

Question 22

One of the requirements to acquire property by adverse possession is to occupy the property without the express or implied permission of the owner.

Question 23

Only nine states recognize the co-ownership form of property known as community property.

Question 24

The owner of a condominium unit also owns the common elements in joint tenancy with the other condominium unit owners.

Question 25

A parcel of property that is owned as tenants by the entirety can be owned by no more than two owners.

Question 26

If a reversion follows a life estate,upon the termination of the life estate,the property will transfer to someone other than the party who granted the life estate.

Question 27

Remainders and remnants are two types of future interests.

Question 28

A boat dock is a form of condominium-type ownership.

Question 29

If a remainder that follows a life estate is vested,it means that there are no unmet conditions for the holder of the remainder to take the property upon the death of the holder of the life estate.

Question 30

The right of survivorship is a feature of joint tenancy.

Question 31

The owner of a life estate,a reversion,or remainder may sell that interest to a third party.

Question 32

Any provision in a decedent's will that mentions the disposition of property held in joint tenancy will not be effective.

Question 33

A lessee who is complying with terms of the lease cannot acquire the leased premises by adverse possession.

Question 34

If a grantor creates a life estate in another person but does not indicate what will happen upon the termination of the life estate,the grantor holds a reversion.

Question 35

George,the grantor,conveys property to Monica Simms,the grantee for life.George has no reversion interest in the property.

Question 36

In a tenancy by the entirety,one tenant cannot transfer his interest without the consent of the other.

Question 37

If a piece of property is sold at auction to satisfy a tax lien for unpaid taxes,any amount paid in excess of the amount of taxes owed is retained by the state.

Question 38

A sale or conveyance is the least common method for transferring ownership rights in real property.

Question 39

If a state has a redemption period following a tax sale,the owner who was delinquent in paying taxes has a specified period to pay the back taxes and prevent the sale from being finalized.

Question 40

The community property laws apply only to married couples.

Question 41

Which of the following elements is the most important in determining whether personal property has become a fixture?

A) whether the property has been attached to the realty
B) whether the property is used in the same manner as the realty
C) whether the property can be removed without damaging the realty
D) the intent of the parties

Question 42

The government may sell an owner's property for failure to pay taxes and then obtain a lien on the property for the amount of the taxes.

Question 43

Real property includes:

A) natural plants growing on the land
B) cultivated plants growing on the land
C) both A and B
D) neither A nor B

Question 44

Can the holder of a life estate mortgage his life estate?

A) Yes,with the only restrictions being those applicable to a mortgage of a fee simple interest.
B) Yes,but only if the holder of the remainder interest or reversion also simultaneously mortgages that interest.
C) Yes,so long as the mortgage term is limited to the length of the life estate.
D) No,because of the uncertainty over how long the interest will last.
E) No,because a life estate is not real property.

Question 45

Which of the following is true about a life estate?

A) The holder of a life estate may sell that interest to another.
B) The holder of a life estate may not lease the property to a tenant because it is uncertain when the holder of the life estate may die.
C) The holder of a life estate may lose his right if the remainder person desires to re-enter the land.
D) The holder of the life estate must be related to the remainder person.

Question 46

Which of the following is true about subsurface rights?

A) The surface rights and subsurface rights cannot be separated.
B) The subsurface rights extend 100 yards below the surface.
C) The subsurface rights are considered personal property.
D) The most valuable subsurface rights in most instances are mineral rights.

Question 47

An easement in gross occurs where the servient and dominant estates are adjacent.

Question 48

Which of the following is not true about fixtures?

A) An item,such as a shelving unit,might be a fixture in some buildings,but not in others.
B) Factors considered in whether something is a fixture include the intent of the person who attached it and whether damage would be done to the building upon the item's removal.
C) A real property contract must list the fixtures to be included in the sale in order for them to be part of the sale.
D) Fixtures usually were personal property prior to becoming a fixture.

Question 49

An abstract of title is a chronological history of the chain of title and encumbrances affecting the property.

Question 50

Which of the following is characteristic of fee simple absolute ownership?

A) It is infinite in duration.
B) It can be willed and inherited.
C) It is the highest form of ownership.
D) It does not end upon the happening of some event.
E) All of the above.

Question 51

In a Torrens system,the owner of property has a certificate of title showing the ownership.

Question 52

A quitclaim deed provides the most amount of protection because only the grantor's interest is conveyed.

Question 53

A quiet title action helps to determine an individual's ownership rights in a parcel of real property.

Question 54

Ownership of real property in fee simple defeasible means that:

A) The ownership is for only a limited period of time.
B) The ownership is absolute except that ownership may be lost upon the occurrence or nonoccurrence of some event.
C) The property reverts to the grantor when some condition is met.
D) Some type of joint ownership exists.
E) The property was acquired through a donation.

Question 55

The holder of a life estate can do all of the following with her life estate except:

A) sell it
B) give it away
C) leave it to someone in her will
D) mortgage it
E) lease it to another

Question 56

The owner of land that is subject to the easement cannot make any use of the land subject to the easement.

Question 57

Which form of real property ownership includes the greatest degree of ownership?

A) fee simple limitless
B) fee simple defeasible
C) fee simple absolute
D) absolute life estate
E) remainder

Question 58

One who owns property can bring a quiet title action to force noisy neighbors to allow the landowner the quiet enjoyment of her land.

Question 59

Grantor transfers real property to the city for "as long as the property is used as a park." The city has a:

A) fee simple absolute
B) fee simple defeasible
C) life estate
D) reversion
E) remainder

Question 60

A deed is a document that shows that property was transferred,but possession of the deed is no assurance that the holder of the deed still holds the property.

Question 61

Which of the following is true about the situation where a party who owns a fee simple absolute conveys a life estate,but does not convey any other interest?

A) Upon the death of the holder of the life estate,the property will go to the heirs of the holder of the life estate.
B) The grantor has created a remainder,even though the identity of the holder of the remainder is not yet known.
C) The grantor holds a fee simple defeasible.
D) The grantor holds a reversion.
E) The conveyance is invalid because it is incomplete.

Question 62

What is the main purpose of tenancy by the entirety?

A) To make it harder for married persons to own property together.
B) To protect surviving spouses from unexpectedly not owning the deceased spouse's share of property upon the deceased spouse's death.
C) To make sure that spouses each own an equal share of co-owned property
D) To make sure that neither spouse can sell his or her share of co-owned property.

Question 63

A deed is proof of:

A) ownership of property
B) value of property
C) size of property
D) transfer of property
E) buildings that are on the property

Question 64

In a condominium development,the common areas are owned:

A) by the unit owners as joint tenants
B) by a corporation
C) by the homeowners association
D) by the unit owners as tenants in common
E) in fee simple defeasible by the unit owners

Question 65

Remainders and reversions:

A) are both interests where property can or will return to the grantor
B) differ in that a remainder is held by someone other than the grantor and the reversion is held by the original grantor
C) cannot be bought or sold because they are future interests
D) often exist when there is also a fee simple absolute ownership

Question 66

Which types of property interests can be sold?

A) fee simple absolute only
B) fee simple absolute and fee simple defeasible
C) fee simple defeasible and life estate
D) fee simple absolute and life estate
E) fee simple absolute,fee simple defeasible,and life estate

Question 67

How does a tenancy by the entirety differ from a joint tenancy?

A) In a tenancy by the entirety,the survivor gets the entire property when one co-owner dies.
B) In a tenancy by the entirety,one co-owner cannot unilaterally sell his or her share.
C) In a tenancy by the entirety,when there are two co-owners,each must own 50 percent.
D) In a tenancy by the entirety,each co-owner owns an undivided interest in the whole.

Question 68

Which of the following elements is not required for adverse possession?

A) possession for the statutory period of time
B) open,visible,and notorious possession
C) hostile and adverse possession
D) consent by the owner

Question 69

Which of the following provides that all assets acquired during a marriage,other than gifts and inheritances,belong equally to the two spouses?

A) community property laws
B) joint tenancy
C) tenancy by the entirety
D) marital partnership laws
E) spousal equality laws

Question 70

A deed must be recorded in order to:

A) make the deed valid
B) protect the purchaser from third parties to whom the seller might also have given deeds
C) insure that the interest transferred is a fee simple
D) put the property on the tax rolls

Question 71

Which of the following is not a requirement in order to obtain property by adverse possession?

A) Possession must be open,visible,and notorious.
B) Possession must be with original owner's knowledge that possessor intends to eventually acquire the property through adverse possession.
C) Possession must be actual and exclusive.
D) Possession must be continuous and peaceful.
E) Possession must be hostile and adverse.

Question 72

In which of the following forms of concurrent ownership may one party unilaterally transfer her portion without the consent of the other party(ies)?

A) joint tenancy
B) tenancy in common
C) tenancy by the entirety
D) A,B,and C
E) A and B only

Question 73

A chronological history of the chain of title and encumbrances affecting a parcel of real property is known as:

A) a certificate of title
B) an abstract of title
C) a Torrens certificate
D) title insurance

Question 74

If a conveyance of property to three concurrent owners is unclear as to the type of concurrent interest created,most courts would treat it as a:

A) life estate
B) tenancy by the entirety
C) tenancy in common
D) joint tenancy
E) tenancy in partnership

Question 75

Which of the following is true of co-ownership of real property?

A) Joint tenancy and tenancy in common are two terms to describe the same legal arrangement.
B) If it is unclear whether an arrangement is a joint tenancy or a tenancy in common,most courts will consider it to be a tenancy in common.
C) Two owners who are married to each other cannot own the property as tenants in common.
D) Tenancy by the entirety is often viewed as a special type of tenancy in common for persons married to each other.

Question 76

Which of the following would prevent someone from acquiring land by adverse possession?

A) She lived on it secretly so that the original owner could not find out she was there.
B) She never had to fight the original owner in order to remain on the land.
C) She lived on the land without the original owner's permission.
D) She was the only person who lived on the land in question.

Question 77

Recording statutes for real property:

A) are optional in most parts of the country
B) allow potential buyers to check whether there are any liens or mortgages on a piece of property
C) guarantee that buildings meet certain minimum standards as far as condition goes
D) eliminate the need to acquire title insurance because the chain of title can be traced

Question 78

A transfer of real property is also known as a:

A) commitment
B) quitclaim
C) conveyance
D) recording

Question 79

Following a tax sale,the owner's right to pay the unpaid taxes and thereby prevent the tax sale from being effective is the right of:

A) recovery
B) rehabilitation
C) redemption
D) reacquisition
E) reassessment

Question 80

Unit owners have real estate title to their individual units in:

A) condominiums
B) cooperatives
C) both condominiums and cooperatives
D) neither condominiums nor cooperatives