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OWNERSHIP
QUIZ
| Question | Answer | (A) | (B) | (C) | (D) |
|---|---|---|---|---|---|
| 1. Real estate includes all except: | (D)Real estate is immovable, affixed attached and annexed. Tractors and threshers are movable | Air Rights | Growing sycamore trees | Barns and fences | Tractors and threshers |
| 2. How should an unmarried couple own in real estate in order to provide each other of their heirs the right to inherit their portion of the property? | (A)Only tenancy in common does not provide automatic right of survivorship. | Tenancy in common | Joint tenancy | Tenancy by the entirety | Tenancy in severalty |
| 3. Which is most important in determining if an unknown property is a fixture? | (C)Intention is one of the four tests that may be used to determine whether property is a fixture, real property. | Weight | Cost | Intention | Probability |
| 4. Which is an appurtenance? | (A)An appurtenance is a legal right to cross the land of an adjoining property. | Easement over adjoining land | Retail fixture | Above-ground pool | Refrigerator |
| 5. Trade fixtures used by a retail tenant are: | (A)Personal property installed by retail tenant is a trade fixture. | Personalty | Realty | Appurtenances | Emblements |
| 6. A and B are purchasing a duplex together and want to avoid probate when the first of them dies. How should they own it? | (A)Joint tenancy will give buyers the ownership they want and there is no joint tenancy without right of survivorship. | Joint Tenancy with right of survivorship | Joint Tenancy, without right of survivorship | Tenancy in common | Right of survivorship is only available if they are married |
| 7. Rights to reasonable use of water in a waterway bordering land are: | (C)Riparian rights relate to real property bordering a river. | Adjoining | Littoral | Riparian | Mineral |
| 8. Owning land bordering navigable waterway means owner's rights: | (D)Navigable waterways, real property ownership extends to the shoreline also called the accretion line. | End at middle of waterway | Are subject to public use | Extend to other bank | Extend to own edge or accretion |
| 9. The essential characteristics of condominium ownership are: | (A)Condominium owners take individual title to their units, buy own the common areas jointly. | Individually owned units and jointly owned common areas | Entire property jointly owned by residents | A corporation owned by the residents owns everything | Units owned individually, but only for defined weeks during the year |
| 10. An estate reserved for married couples only is: | (A)Co-ownership reserved for married couples is tenancy by the entirety. | Estate by the entirety | Joint tenancy | Tenancy in common | Life Estate |
| 11. Mother and two daughters equally own property. Mother died and left 1/3 share to one and 2/3 share to the other. Original ownership was: | (C)The only type of co-ownership that is inheritable is tenancy in common. | Tenants by the entirety | Joint tenants | Tenants in common | Tenants in severalty |
| 12. An air conditioner installed in a special opening through a wall is: | (D)The air conditioner becomes real property through its method of attachment. | A Chattel | Personalty | Personal property of seller | A fixture |
Created by:
Ernesto Erazo
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