REE 3043 EXAM 4 WOODYARD FSU QUESTIONS AND
ANSWERS 2026
List the four primary tests used to determine whether an item is a fixture: - Answers - 1.
the intent test
2. the annexation test
3. the adaptation test
4. the relationship-of-the-parties test
The physical rights to real estate generally include all of the following, except:
A. air rights
B. mineral rights
C. surface rights
D. easement rights - Answers - D. Easement rights; the rights associated with an
easement are legal rights, not physical rights.
States which follow the traditional ownership-in-place concept: - Answers - Recognize
the ownership of oil and gas as part of land ownership.
Which of the following is NOT a test of the court used to resolving disputes about
fixtures?
A. The Annexation Test
B. The Intent Test
C. The Test of Expectation
D. The Adaption Test - Answers - C. The test of expectation
An owner's legal right to control entry to real property and to use the property as
collateral for loans is a part of an owner's right of: - Answers - Exclusive possession
An estate having a duration set by private contract is known as a: - Answers - Non-
freehold estate
The future interest in an ordinary life estate is called the: - Answers - Remainder; a
future interest, called the remainder, vests in the grantor of the ordinary life estate
________________ exists when rights of possession transfer with oral instead of
written agreements. - Answers - Tenancies at will
A form of ownership of real estate with fee simple ownership of individual units, and
ownership as tenants in common areas is termed: - Answers - A condominium
The right of government to enforce zoning and growth control measures come under the
government's authority known as: - Answers - Police power
, The rights of the utility company to use a particular part of an individual's property for
the installation of their utility lines is an example of an easement appurtenant. - Answers
- False; this is an example of an easement in gross.
Riparian land describes land adjacent to non navigable bodies of water, and the
landowners' rights to use the water constitute their riparian rights. - Answers - True
A party with a determinable fee estate receives, for example, through sale, gift, or will
an interest in real property that lasts for as long as some stipulation remains satisfied. -
Answers - True
_______________ is the concept that refers to properties that have market vales and
those properties are assessed at the same percentage of their market value. - Answers
- Horizontal equity
What is the tax rate for a community with a budget for the coming year of 560 million?
Income from non-property tax sources is expected to be 115 million and the net taxable
base is 26 billion. - Answers - The answer is 17 mills (560 million - 115 million) / 26
billion
______________ is the concept that refers to properties that have different market
values and those properties are assessed at the same percentage of their market value.
- Answers - Vertical Equity
Which of the following jurisdictions typically levy real property taxes? - Answers - Cities,
counties, school districts, and other special taxing jurisdictions, such as urban service
districts and water management districts, levy real property taxes.
All of the following were taxes in common use in the British colonies of North America,
except:
A. the poll tax
B. the import tax
C. the property tax
D. the consumption tax - Answers - The consumption tax
Taxes on property, in addition to at valorem taxes, often used to finance streets, gutters,
sewers, and sidewalks are termed: - Answers - Special assesments
The right of the owner to pay unpaid taxes plus interest and penalties prior to the public
sale of the property and therefore reclaim full title to the property is known as: - Answers
- Equity of Redemtion
A disadvantage of the property tax is: - Answers - The property taxes can serve to
inhibit new development and induce premature development.
ANSWERS 2026
List the four primary tests used to determine whether an item is a fixture: - Answers - 1.
the intent test
2. the annexation test
3. the adaptation test
4. the relationship-of-the-parties test
The physical rights to real estate generally include all of the following, except:
A. air rights
B. mineral rights
C. surface rights
D. easement rights - Answers - D. Easement rights; the rights associated with an
easement are legal rights, not physical rights.
States which follow the traditional ownership-in-place concept: - Answers - Recognize
the ownership of oil and gas as part of land ownership.
Which of the following is NOT a test of the court used to resolving disputes about
fixtures?
A. The Annexation Test
B. The Intent Test
C. The Test of Expectation
D. The Adaption Test - Answers - C. The test of expectation
An owner's legal right to control entry to real property and to use the property as
collateral for loans is a part of an owner's right of: - Answers - Exclusive possession
An estate having a duration set by private contract is known as a: - Answers - Non-
freehold estate
The future interest in an ordinary life estate is called the: - Answers - Remainder; a
future interest, called the remainder, vests in the grantor of the ordinary life estate
________________ exists when rights of possession transfer with oral instead of
written agreements. - Answers - Tenancies at will
A form of ownership of real estate with fee simple ownership of individual units, and
ownership as tenants in common areas is termed: - Answers - A condominium
The right of government to enforce zoning and growth control measures come under the
government's authority known as: - Answers - Police power
, The rights of the utility company to use a particular part of an individual's property for
the installation of their utility lines is an example of an easement appurtenant. - Answers
- False; this is an example of an easement in gross.
Riparian land describes land adjacent to non navigable bodies of water, and the
landowners' rights to use the water constitute their riparian rights. - Answers - True
A party with a determinable fee estate receives, for example, through sale, gift, or will
an interest in real property that lasts for as long as some stipulation remains satisfied. -
Answers - True
_______________ is the concept that refers to properties that have market vales and
those properties are assessed at the same percentage of their market value. - Answers
- Horizontal equity
What is the tax rate for a community with a budget for the coming year of 560 million?
Income from non-property tax sources is expected to be 115 million and the net taxable
base is 26 billion. - Answers - The answer is 17 mills (560 million - 115 million) / 26
billion
______________ is the concept that refers to properties that have different market
values and those properties are assessed at the same percentage of their market value.
- Answers - Vertical Equity
Which of the following jurisdictions typically levy real property taxes? - Answers - Cities,
counties, school districts, and other special taxing jurisdictions, such as urban service
districts and water management districts, levy real property taxes.
All of the following were taxes in common use in the British colonies of North America,
except:
A. the poll tax
B. the import tax
C. the property tax
D. the consumption tax - Answers - The consumption tax
Taxes on property, in addition to at valorem taxes, often used to finance streets, gutters,
sewers, and sidewalks are termed: - Answers - Special assesments
The right of the owner to pay unpaid taxes plus interest and penalties prior to the public
sale of the property and therefore reclaim full title to the property is known as: - Answers
- Equity of Redemtion
A disadvantage of the property tax is: - Answers - The property taxes can serve to
inhibit new development and induce premature development.
