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17 Cards in this Set
- Front
- Back
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A community that merges housing, recreation, and commercial units into one self-contained development is called a:
a. MUD b. PUD c. cooperative d. condominium |
b. PUD
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All of the following damages, would be covered by a basic-form homeowners' insurance policy EXCEPT:
a. glass breakage b. riot c. frozen pipes d. vandalism |
c. frozen pipes
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That portion of the value of an owners' property that exceeds the amount of their mortgage debt is called:
a. equality b. escrow c. surplus d. equity |
d. equity
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Real estate generally includes all the following EXCEPT:
a. trees b. air rights c. annual crops d. mineral rights |
c. annual crops
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The term nonhomogeneity refers to:
a. scarcity b. immobility c. uniqueness d. indestructibility |
c. uniqueness
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Another term for personal property is:
a. realty b. fixtures c. chattels d. fructus naturales |
c. chattels
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When an owner of real estate sells the property to someone else, which of the "sticks" in the bundle of legal rights is the owner as seller using?
a. exclusion b. legal enjoyment c. possession d. control e. disposition |
d. disposition
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Which of the following is a physical characteristic of land?
a. indestructibility b. improvements c. area preference d. uniqueness |
a. indestructibility
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Which of the following describes the act by which real property can be converted into personal property?
a. severance b. accession c. conversion d. attachment |
a. severance
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Method of annexation, adaptation to real estate, and agreement between the parties are the legal tests for determining whether an item is:
a. a trade fixture or personal property b. real property or real estate c. a fixture or personal property d. an improvement |
c. a fixture or personal property
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Parking spaces in multiunit buildings, water rights, and similar things of value are normally conveyed to the new owner when the property is sold
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d. appurtenances
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The phrase "bundle of legal rights" is properly included in:
a. the definition of real property b. a legal description c. real estate transactions d. leases for less than on ey |
a. the definition of real property
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Bundle of legal rights include:
a. possession, control, enjoyment, exclusion and disposition b. purchase, control, equity, exclusion and disposition c. possession, chattel, enjoyment, equity and dispositin d. purchase, change, |
a. possession, control, enjoyment, exclusion, disposition
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What is defined as the interests, benefits, and rights that are automatically included in the ownership of land and real estate
a. equity b. real property c. right of possession d. deed |
b. real property
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According to law, a trade fixure is usually treated as:
a. a fixture b. an easement c. personalty d. a license |
c. personalty
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A buyer is interested in a house that fits most of her needs, but it is located in a busy area where she is not sure she wants to live. Her concern about the property's location is called:
a. physical deterioration b. area preference c. permanence of investment d. immobility |
b. area preference
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Which of the following is considered personal
property? a. wood-burning fireplace b. awnings c. bathtub d. patio furniture |
d. patio furniture
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