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RE - Property Ownership questions n answers graded A+ already passed
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RE - Property Ownership questions n answers graded A+ already passed
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RE - Property OwnershipA partition suit is used for which of the following? - correct answer ✔✔To force a division of property
without all the owners' consents
Which of the following about a condominium is FALSE? - correct answer ✔✔Each owner has a
proprietary lease with the association for their own unit.
The difference between a judgment lien and a mechanic's lien is: - correct answer ✔✔Mechanic's liens
may take priority earlier than the date they are recorded.
The owner of a single lot is trying to show that exceptional circumstances concerning an intended use of
the property are applicable to his property. The owner is also trying to show that the exception is not
detrimental to the public. The owner would probably petition the planning commission for: - correct
answer ✔✔A variance
Which of the following does not "go with the land"? - correct answer ✔✔An easement in gross
Which of the following is a defining characteristic of a graduated rental lease? - correct answer ✔✔A
lease starting at an agreed upon payment and increases at set intervals as the lease term matures.
An unmarried couple owns a parcel of real estate. Each owns an undivided interest, with the man
owning one-third and the woman owning two-thirds. The form of ownership under which the couple
owns their property is - correct answer ✔✔Tenancy in common
Which of the following best describes the legal concept of personal property? - correct answer ✔✔Any
movable property owned by an individual, partnership, or corporation.
Real property includes which of the following? - correct answer ✔✔Appurtenances, rights that belong to
the land, and attached personal property.
, One major difference between joint tenancy and tenancy in common is: - correct answer ✔✔Joint
tenancy requires all ownership rights to be acquired at the same time.
Which of the following individuals holds a license and is therefore not entitled to a claim of adverse
possession? - correct answer ✔✔A person who has been entering an orchard with permission, and
taking apples every year for 30 years.
When a tenant voluntarily vacates a rented property with no intention of honoring future obligations on
the lease, this is known as: - correct answer ✔✔Abandonment
A person who has complete control over a parcel of real estate is said to own a: - correct answer ✔✔Fee
simple estate
Which of these is TRUE concerning a property held in joint tenancy? - correct answer ✔✔There is always
the right of survivorship.
The principal difference between an estate for years and an estate from period to period is that an: -
correct answer ✔✔Estate from period to period has no expiration date.
All of the following would likely be considered fixtures except: - correct answer ✔✔A stand-alone
microwave that is plugged into the wall.
After real estate has been sold by the state or county to satisfy a delinquent property tax lien, if state law
permits, the defaulted owner has a right to: - correct answer ✔✔Pay the creditors directly and have their
liens removed.
After real estate has been sold by the state or county to satisfy a delinquent property tax lien, if state law
permits, the defaulted owner has a right to: - correct answer ✔✔Redeem the property within the time
specified by the law.
A municipality establishes development goals that are often used to control growth in its - correct
answer ✔✔Master plan
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