TRELG Maine Real Estate questions with 100% correct answers graded A+ 2023/2024

TRELG Maine Real Estate All of the following are real property EXCEPT: A. a chained link fence enclosing the backyard B. the weathervane on top of the barn C. the portable basketball hoop in the driveway D. an antique chandelier in the dining room - correct answer C. the portable basketball hoop in the driveway A metes and bounds description of real property relies on: A. a point of beginning, measurement of distances, and directions on a compass. B. identification of the township in which the property is located. C. measurement of elevation above sea level in New York harbor. D. the street address assigned by the municipality. - correct answer A. a point of beginning, measurement of distances, and directions on a compass Fee simple ownership describes: A. future ownership. B. current ownership. C. a leasehold estate. D. current possession. - correct answer B. Fee simple ownership describes current ownership A life estate interest describes: A. joint ownership. B. sole ownership. C. current ownership. D. future ownership - correct answer D. A life estate describes future ownership. Which of the following statements about Susan, the tenant of a life estate, is TRUE? A. She may designate a remainderman. B. She may not make improvements to the property. C. She may sell her interest to Phillip, who would then hold the life estate until Susan dies. D. She may sell her interest to George, who would then hold the life estate until George dies. - correct answer C. She may sell her interest to Phillip, who would then hold the life estate until Susan dies. Susan may sell her interest in the property to the extent of her interest. Her interest ends when she dies (not when Phillip dies). Which of the following is NOT an element of the bundle of rights of an owner of property in fee simple absolute? A. the right to lease the mineral rights B. the right to encumber the property with an easement in gross C. the right to sell the air rights D. the right to start a foreclosure process - correct answer D. the right to start a foreclosure process One way that an easement in gross is extinguished is when: A. the party that benefits dies. B. the property is sold. C. two adjacent properties merge into one. D. the easement hasn't been used in 5 years. - correct answer A. An easement in gross is extinguished when the party that benefits dies. One way that an appurtenant easement is extinguished when: A. the dominant tenement dies. B. the servient tenement is sold. C. the dominant and servient tenement merge. D. the dominant tenement is sold. - correct answer C. An appurtenant easement is extinguished when the dominent and servient tenement merge. Jill owns a house at 82 Willow Road. She has young children and wants to build a fence around an area of the backyard. Once it is built the fence becomes part of the real property through: A. annexation. B. accretion. C. execution. D. reversion. - correct answer A. The fence becomes part of the real property through annexation. Lawrence gets behind in his mortgage payments and the lender forecloses on his property. The property is in a state where Lawrence has the right to regain the property within a certain period of time. What is the name of this right? A. remainder B. assignment C. redemption D. novation - correct answer C. redemption Paul chops down a tree and splits it into firewood. This example of real property being changed into personal property is an illustration of: A. severance.