nj real estate property ownership
a variance. - correct answer ✔✔The owner of a single lot is trying to show that exceptional
circumstances concerning an intended use of the property are applicable to his property. The owner is
also trying to show that the exception is not detrimental to the public. The owner would probably
petition the planning commission for:
A real estate property tax lien - correct answer ✔✔Which of the following is a specific, involuntary lien?
trade fixtures. - correct answer ✔✔The word "improvement" would refer to all of the following EXCEPT:
adverse possession. - correct answer ✔✔The creation of an easement by prescription is similar to:
an estate for years. - correct answer ✔✔Joe signed a lease to rent a seashore cottage from June 1, 2005
to August 30, 2005. Joe had
an appurtenant easement - correct answer ✔✔Ginny owns 50 acres of land with 500 feet of frontage on
a desirable recreational lake. She wishes to subdivide the parcel into sellable lots, but she wants to retain
control over the lake frontage while allowing lot owners to have access to the lake. Which of the
following types of access rights would provide the greatest protection for a prospective purchaser?
easement is terminated. - correct answer ✔✔If the owner of the dominant tenement becomes the
owner of the servient tenement and merges the two properties, the
Judgment lien - correct answer ✔✔Under which type of lien are both the real property and the personal
property of the debtor sold to pay the debt?
640 acres per section - correct answer ✔✔A section in the rectangular survey system contains
filing a lawsuit within a specified time frame. - correct answer ✔✔After a mechanic has filed a lien, he
may enforce it by:
, riparian rights. - correct answer ✔✔The rights of the owner of property located along the banks of a
river are called:
down zoning. - correct answer ✔✔Re-zoning a section of town and changing its lawful use for new
development from commercial to residential use is known as:
enjoyed by the owner of a property. - correct answer ✔✔The "bundle of rights" refers to a set of rights
mechanic's lien. - correct answer ✔✔When a company furnishes materials for the construction of a
house and is subsequently not paid, it may file a(n):
Bearing wall - correct answer ✔✔Which of the following would be considered real property?
a fee simple estate. - correct answer ✔✔The maximum estate that a person may hold in land is called
plottage. - correct answer ✔✔Placing two or more contiguous units under common ownership, for the
purpose of increasing the value per unit, is known as:
Leasehold estate in residential properties - correct answer ✔✔All of the following would be classified as
real property, except:
cooperative. - correct answer ✔✔Andrew lives in an apartment building. The land and structures are
owned by a corporation, with one mortgage loan covering the entire property. Like the other residents,
Andrew owns stock in the corporation and has a lease on his apartment. This type of ownership is called
a(n):
fixtures. - correct answer ✔✔Personal property includes all of the following EXCEPT:
tenants in common - correct answer ✔✔In a gift of a parcel of real estate, one of the two owners was
given an undivided 60 percent interest and the other received an undivided 40 percent interest. The two
owners hold their interests as what?
a variance. - correct answer ✔✔The owner of a single lot is trying to show that exceptional
circumstances concerning an intended use of the property are applicable to his property. The owner is
also trying to show that the exception is not detrimental to the public. The owner would probably
petition the planning commission for:
A real estate property tax lien - correct answer ✔✔Which of the following is a specific, involuntary lien?
trade fixtures. - correct answer ✔✔The word "improvement" would refer to all of the following EXCEPT:
adverse possession. - correct answer ✔✔The creation of an easement by prescription is similar to:
an estate for years. - correct answer ✔✔Joe signed a lease to rent a seashore cottage from June 1, 2005
to August 30, 2005. Joe had
an appurtenant easement - correct answer ✔✔Ginny owns 50 acres of land with 500 feet of frontage on
a desirable recreational lake. She wishes to subdivide the parcel into sellable lots, but she wants to retain
control over the lake frontage while allowing lot owners to have access to the lake. Which of the
following types of access rights would provide the greatest protection for a prospective purchaser?
easement is terminated. - correct answer ✔✔If the owner of the dominant tenement becomes the
owner of the servient tenement and merges the two properties, the
Judgment lien - correct answer ✔✔Under which type of lien are both the real property and the personal
property of the debtor sold to pay the debt?
640 acres per section - correct answer ✔✔A section in the rectangular survey system contains
filing a lawsuit within a specified time frame. - correct answer ✔✔After a mechanic has filed a lien, he
may enforce it by:
, riparian rights. - correct answer ✔✔The rights of the owner of property located along the banks of a
river are called:
down zoning. - correct answer ✔✔Re-zoning a section of town and changing its lawful use for new
development from commercial to residential use is known as:
enjoyed by the owner of a property. - correct answer ✔✔The "bundle of rights" refers to a set of rights
mechanic's lien. - correct answer ✔✔When a company furnishes materials for the construction of a
house and is subsequently not paid, it may file a(n):
Bearing wall - correct answer ✔✔Which of the following would be considered real property?
a fee simple estate. - correct answer ✔✔The maximum estate that a person may hold in land is called
plottage. - correct answer ✔✔Placing two or more contiguous units under common ownership, for the
purpose of increasing the value per unit, is known as:
Leasehold estate in residential properties - correct answer ✔✔All of the following would be classified as
real property, except:
cooperative. - correct answer ✔✔Andrew lives in an apartment building. The land and structures are
owned by a corporation, with one mortgage loan covering the entire property. Like the other residents,
Andrew owns stock in the corporation and has a lease on his apartment. This type of ownership is called
a(n):
fixtures. - correct answer ✔✔Personal property includes all of the following EXCEPT:
tenants in common - correct answer ✔✔In a gift of a parcel of real estate, one of the two owners was
given an undivided 60 percent interest and the other received an undivided 40 percent interest. The two
owners hold their interests as what?
