Maine Real Estate Exam Prep Questions with Complete Solutions

All of the following are real property EXCEPT - Answer-A Portable Basketball hoop A metes and bounds description of real property relies on - Answer-A point of beginning, measurement of distances, and directions on a compass Fee simple ownership describes - Answer-Current ownership A life estate interest describes - Answer-Future ownership Which of the following statements about Susan, the tenant of a life estate, is TRUE? - Answer-She may sell her interest to Phillip, who would then hold the life estate until Susan dies Which of the following is NOT and element of the bundle of rights an owner of property in fee simple absolute? - Answer-The right to start a foreclosure process One way that an easement in gross is extinguished is when - Answer-The party that benefits dies. One way that an appurtenant easement is extinguished when - Answer-The dominant 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 - Answer-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? - Answer-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: - Answer-severance. The legal tests for determining if an item is a fixture or personal property include all of the following EXCEPT: - Answer-quiet enjoyment A municipality wants to build a public parking garage on Leila's land. Which of the following statements about the municipality is True? - Answer-It may take Leila's property under eminent domain and must pay fair market value to do so.