Principles of Real Estate Exam With 100% Correct Answers 2024

Principles of Real Estate Exam With 100% Correct Answers 2024 Items of personal property that are attached or incorporated into the land in such a manner as to become real property are called: - answerfixtures Anything attached to the land, such as buildings, fences, walls, walks and shrubs, are called: - answerimprovements Township lines divide the land into a series of east-west strips called: - answertiers An area of land that contains 43,560 sq feet is called: - answeran acre Which of the following can transfer ownership of trade fixtures and personal property? - answerBill of Sale How many principal base and meridian line intersections does California have? - answer3 Which of the following is NOT a basic right if ownership included in the "Bundle of Rights"? - answerSustainablility Anything permanently attached or affixed to the land is called: - answerReal Property An interest, share, right, or equity in real estate that varies from the minimal right of a renter to the maximum right of full owner is called a(n): - answerestate Susie owns a life estate based upon her own life. She leases the property to a tenant on a 3 yr lease. Susie dies 2 yrs later. What happens to the lease? - answerThe lease is terminated A signed or verbal statement by the named person that he or she signed that document of his or her own free will is known as: - answerAcknowledgement When 2 or more people have identical interests in the whole property with the same right of possession and the right of survivorship it is called: - answerjoint tenancy All property acquired by a husband and wife during their marriage other than separate property is called: - answercommunity property The two major types of freehold estates are: - answerfee simple and life estate When a landlord discovers that work is being done on the property without the landlord's consent he or she should: - answerpost a Notice of Non-Responsibility on the property A document that uses a property to secure the payment of a debt or the discharge of an obligation is called a(n) : - answerlien An easement that is "created for and beneficial to" the owner of adjoining or attached lands is which type of easement? - answerEasement appurtenant An Easement by Prescription requires which of the following to be valid? - answer5 yrs continuous use Open and notorious use Hostile use Property is defined as: - answerThe rights or interests that a person has in the thing owned The initials RSS refer to: - answerReally Simple Syndication "Potable Water" refers to: - answerwater suitable for drinking Which is considered real property? - answerVegetation The ownership of personal property is transferred by using a - answerBill of Sale A loan secured by personal property usually consists of - answera security agreement Which of the following is not a test for a fixture? - answerCost and size of the item Which method of land description is the oldest and least reliable? - answerMetes and Bounds A township consists: - answera 6-mile by 6- mile square of land & 36 square miles A commercial acre is: - answeran acre less the amount of land dedicated for public improvements Which of the following is a type of freehold estate? - answerEstate in fee Which of the following is an example of a freehold estate? - answera life estate A seven year lease would be considered: - answeran estate for years, personal property and chattel real. A tenancy at sufferance would occur when: - answera tenant remains in the property after expiration of a lease without the owners consent. The owner of property adjacent to the water flow can acquire title to additional land by: - answeraccessi