Exam (elaborations)
Real Estate Principles questions with answers.
- Course
- Institution
Real Estate Principles questions with answers.
[Show more]
Seller
Follow
Content preview
Real Estate Principles questions withanswers.
the right to use, possess, enjoy, control or dispose of a thing to the exclusion of all others most
accurately describes ANS -Ownership
Real property includes ANS -The land itself, that which is permanently attached to the land, anything
which is incidental or appurtenant to the land
The term "potable water" refers to ANS -Water suitable for drinking
All of the following would be classified as real estate property except ANS -A lease
An item of personal property that is attached to, or incorporated into, the land in such a manner as to
become a part of the real estate property is known as ANS -A fixture
Which of the following methods can be used to legally describe real property ? ANS -Metes and bounds,
Sections and Townships, Lots, Blocks , and Tracts
Which of the following is a true statement regarding a section of land? ANS -it contains 640 acres, it is
one mile square, there are 36 sections in a township
How many square feet are there in an acre? ANS -43,560
The most complete form of land ownership, which carries with it the maximum bundle of rights is
known as ANS -A fee simple estate
An estate that is based on the length of the life of one or more persons is known as ANS -A life estate
The type of leasehold estate that entitles a tenant to the executive use and possession of a property for
a fixed period of time is ANS -An estate for years
, All of the following are required for a grant deed to be valid except ANS -An acknowledgement
The property of a person who dies without having left a will is distributed according to the laws of ANS -
intestate succession
Which of the following unities is found in a joint tenancy ? ANS -Time, Title, Possession, Interest
When a document is recorded at the county record's office, it gives ANS -Constructive notice
Anything that places a burden on real estate property or limits its use is know as ANS -An encumbrance
All of the following would create a lien of money on a property except ANS -A trust deed
When determining the starting time for the mechanic's lien, it is important to know when the work
began and when it was completed. This is known as the ANS -Scheme of improvements is the beginning
or commencement of work on the project
With regards to a lis pendens, unit the final outcome of a trial or the removal of the action ANS -There is
a cloud on the title. Lis penden is Latin for lawsuit pending. This is a cloud on the title which means the
property cannot be sold with a clear title until the cloud is removed with a quitclaim deed or court
action
All of the following are classified as a non-money encumbrance expect ANS -A mortgage is an
instrument used to secure the payment of a debt or obligation
All classified as a non-money encumbrance ANS -An easement, An encroachment, A restiction
A utility company obtains an easement in gross to run power lines over your property. Which of the
following best describes this situation ? ANS -An encumbrance
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Professorkaylee. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.59. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75759 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now