Real Estate Quiz 2

Front 1

in a technical sense, the term "property" refers to

Back 1

Rights or interests in the thing owned

Front 2

why do disputes arise regarding ownership of personal property?

Back 2

personal property can become real property (if it is permanently affixed to land or improvements)

Front 3

which of the following is considered real property?

Back 3

Airspace above the land (land includes the surface, the space above, and the space beneath for an indefinite distance. Timber, crops, and landfill soil are movable personal property.)

Front 4

which of the following is considered personal property?

Back 4

Leases (A lease, also known as a household estate, is a personal property estate of a tenant.)

Front 5

A running stream is considered?

Back 5

Real property. (Water on the surface, flowing in a stream or underground percolating is real property. If it is taking them bottled, then he becomes personal property.)

Front 6

riparian rights

Back 6

The owner of property boarding a stream or river has riparian rights (A riparian owner) riparian property owners have reasonable use of slang water, providing it is not injure other riparian landowners. Riparian rights have been rolled in court to be real property. Such rights, like most others, are not immune from actions such as prescription and condemnation.

Front 7

which of the following is considered personal property? And easement. Minerals. Trees growing in the forest. An existing mortgage.

Back 7

An existing mortgage is considered personal property all others are considered real property

Front 8

what is considered appurtenant to land?

Back 8

Something acquired by legal right and used with the Ledford's benefit. A right-of-way over another's adjoining land. I stock any mutual water company. An appurtenants is anything used with the land for its benefit, such as easements and start any mutual water company

Front 9

five general tests of a fixture

Back 9

The five tests to determine a fixture are method of attachment, adaptation, relationship of the parties, intent of the parties, and agreement of the parties.

Front 10

which of the following is considered real property? A. Bearing wall and some family residence be. Great crap that is governed by a sales contract see. Trade fixtures installed by a tenant that are removable without damage D. Built in stove in a mobile home with no permanent foundation

Back 10

A. Crops that are intended to be harvested and trade fixtures are personal property. A mobile home not attached to a foundation, including its contents, is considered personal property.

Front 11

"if indefinite duration" is a phrase that describes:

Back 11

Estate of inheritance

Front 12

John conveys a portion of his fee estate to Fred that is for a term less than his own, johns own interests would be: A. remainder. B. reversion. C.vested sufferance. D. fee defeasible.

Back 12

B. Reversion. The rights of possession and use would return to john, so john has a reversionary interest. A remainder interest would be one that goes to a third party.