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Real property

Real property
Question 1.1. Real property applies to: (Points : 5)

 
 
 
 

 

Question 2.2. A liquidated damage provision in a contract is enforceable, provided it does not result in a penalty. (Points : 5)

 
 

 

Question 3.3. A fixture is classified as personal property. (Points : 5)

 
 

 

Question 4.4. Identify the shared common elements of a condominium development. (Points : 5)

 
 
 
 

 

Question 5.5. It is not necessary for real estate contracts to be witnessed, notarized, and recorded. (Points : 5)

 
 

 

Question 6.6. In order to own real property in fee simple absolute, which of the ownership rights listed below must be present?

I. Right of disposition and right of exclusion
II. Conditional right of possession and disposition
III. Right of use and right of possession (Points : 5)

 
 
 
 

 

Question 7.7. In order to obtain title to property by adverse possession, a person must prove that possession was: (Points : 5)

 
 
 
 

 

Question 8.8. A real estate contract should provide for proration of: (Points : 5)

 
 
 
 
 

 

Question 9.9. An easement may be:I. Appurtenant

II In gross

III Prohibitive

(Points : 5)

 
 
 
 

 

Question 10.10. A real estate contract can successfully be avoided when: (Points : 5)

 
 
 
 

 

Question 11.11. Under the law of adverse possession, it is possible to acquire title to another’s land without paying for it. (Points : 5)

 
 

 

Question 12.12. Riparian rights refers to a requirement that all owners of riparian lands (Points : 5)

 
 
 
 

 

Question 13.13. All of the following are methods of acquiring ownership to real property except: (Points : 5)

 
 
 
 

 

Question 14.14. Sonny and Cher have been married for forty years and live in Nevada, a community property state.  Before their marriage, Sonny’s only property was a winery in Parumph, Nevada, worth $1 million, while Cher had $5 million worth of property, including a ranch in northern Nevada. During their marriage, Sonny and Cher accumulated an additional $6 worth of property, including $3 million worth of property Sonny inherited from his uncle.  The TOTAL amount of community property held by Sonny and Cher is: (Points : 5)

 
 
 
 
 

 

Question 15.15. Which of the following environmental acts has contributed the most to identifying and correcting hazardous pollutants on real property? (Points : 5)

 
 
 
 

 

Question 16.16. Personal property includes all of the following except: (Points : 5)

 
 
 
 

 

Question 17.17. Which of the following examples is not a license? (Points : 5)

 
 
 
 

 

Question 18.18. A real estate broker is not required to make disclosures of ________. (Points : 5)

 
 
 
 

 

Question 19.19. It is mandatory that tenants in common have equal shares in the property. (Points : 5)

 
 

 

Question 20.20. ________ provide(s) ethical guidelines for paralegals. (Points : 5)

 
 
 
 

 

Question 21.21. On January 5, 2003, an owner files a notice of commencement per state statute for construction of his new home. The framing subcontractor submits a notice to owner and begins work on April 1, 2003, and completes the job on May 15, 2003. The owner refuses to pay the subcontractor. The subcontractor files a lien on July 1, 2003. On what date is the subcontractor’s mechanic’s lien effective? (Points : 5)

 
 
 
 

 

Question 22.22. A joint tenancy requires all of the following “unities” except the unity of: (Points : 5)

 
 
 
 

 

Question 23.23. If an individual fails to pay a contractor for remodeling services, a(n) _______________ may be placed on the remodeled property. (Points : 5)

 
 
 
 

 

Question 24.24. Barney purchased 40 acres of land from Fred.  Unknown to both parties, under the surface of the land was a rich vein of gold ore that extended beneath neighboring land owned by Wilma.  The gold ore is owned at least in part by: (Points : 5)

 
 
 
 

 

Question 25.25. Private restrictions on the use of real property are enforceable. (Points : 5)

 
 

 

Question 26.26. A real estate broker owes the following duties:I Confidentiality
II Disclosure
III Accounting

(Points : 5)

 
 
 
 

 

Question 27.27. Estoppel letters benefit purchasers of real property. (Points : 5)

 
 

 

Question 28.28. An attorney may represent two parties to a real estate transaction in which circumstances? (Points : 5)

 
 
 
 

 

Question 29.29. The general rule today is that anything that changes the nature of real estate, even an improvement, will be considered waste. (Points : 5)

 
 

 

Question 30.30. Police powers give federal, state, or local governments the right to __________. (Points : 5)

 
 
 
 

 

Question 31.31. Wayne and Mitch own adjoining parcels of land.  Wayne allowed Mitch to install pipe across his property for the purpose of pumping spring water onto Mitch’s property.  Mitch’s use of Wayne’s property is: (Points : 5)

 
 
 
 

 

Question 32.32. An estate for years may be a lease, but not all leases are estates for years. (Points : 5)

 
 

 

Question 33.33. Under the prior appropriation theory, the first person to appropriate water for a beneficial use has priority over later users. (Points : 5)

 
 

 

Question 34.34. The owner of real estate may sell her air rights to one person and her mineral rights to another person. (Points : 5)

 
 

 

Question 35.35. Which of the items listed below are considered fixtures? 

(Points : 5)

 
 
 
 

 

 

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