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Personal property that, by its attachment to real C. a fixture
property, is regarded as real estate is called:
A. an emblements
B. personalty
C. a fixture
D. an appliance
What is the main purpose of police power? A. to protect the health, safety, and welfare of the community
A. to protect the health, safety, and welfare of
the community
B. to prevent people from committing crimes
C. to put out fires
D. to make sure the property owners and citizens
know their place
If a person has complete control over their B. fee simple estate
property, and the ownership in the property is not
defeasible, what interest does the person have in
the property?
A. fee conditional estate
B. fee simple estate
C. live estate
D. defeasible fee estate
Which of the following is the difference between D. equity
the value of a property and the total amount
of liens against the property?
A. investment
B. basis
C. down payment
D. equity
A metes-and-bounds legal description: C. must commence and finish at the same identifiable point
A. can be created for areas excluded from the
rectangular survey system
B. is not acceptable in a court in most jurisdictions
C. must commence and finish at the
same identifiable point
D. is used only in extreme cases where there is no
recorded subdivision plats
, Your neighbors use a portion of your property to C. servient tenement
reach their guest apartment, which is on their
property. As far as you can tell, you never
gave them permission to use your property,
and you discuss with your attorney the
possibility of
preventing the neighbors from using
your property. Your attorney explains
that the
ownership of the neighbors real estate includes an
easement appurtenant giving them the right to use
that portion of your property. Your property is the:
A. leasehold interest
B. dominant tenement
C. servient tenement
D. license property
There are no nationwide or state zoning laws. A. True
A. True
B. False
What is the difference between a specific lien and A. A specific lien is secured by a specific piece of property, and a
a general lien? general lien is secured by the collective assets of a person against
whom the lien is held
A. A specific lien is secured by a specific piece of
property, and a general lien is secured by the
collective assets of a person against whom the lien
is held
B. A general lien is secured by a specific piece of
property, and a specific lien is secured by
the
collective assets of a person against whom the lien
is held
C. Specific liens require collateral, and general
liens do not
D. General liens require collateral, and specific
liens do not
All of the following are agency relationships B. the real estate salesperson-buyer relationship
EXCEPT:
A. the attorney-client relationship
B.the real estate salesperson-buyer relationship
C. the real estate broker-buyer relationship
D.the listing broker-seller relationship
E.none of the above
A broker collects a non-refundable fee from the B. False
seller when the listing is signed to cover the
advertising of the property for sale. Such a fee is
called an "advance fee" and is considered trust
funds.
A. True
B. False