Idaho Real Estate Practice Questions With Correct Answers

Real property includes all items that would normally remain in place when an owner of real property moves. These items are known as _____. - Answer Fixtures Which of the following is NOT an example of personal property? - Answer Garage Which of the following is NOT an example of real property? - Answer Couch How would real property become personal property? - Answer If the real property became moveable goods, such as discovering oil under your land (real property), that you then took and sold in oil drums (personal property) How do you know if something qualifies as personal property? - Answer The item is moveable Which of the following is encompassed within the real estate definition of land? - Answer The surface of property, the natural resources on the property, and any improvements on the property Which of the following is NOT an economic characteristic of land? - Answer Unique What characteristic of land involves a lack of homogeneity? - Answer Unique Which of the following is an economic characteristic of land? - Answer Improvements What characteristic of land involves its value and its situs? - Answer Location Which of the following is the BEST and most inclusive definition of personal property? - Answer Any property that is not real property The process by which personal property becomes part of real property is known as what? - Answer Annexation What's the key difference between real property and real estate? - Answer Real property includes real estate as well as the rights related to it Which of the following is an example of intangible property? - Answer A lease An apple attached to the tree is considered _____ property, while an apple that has fallen to the ground is considered _____ property. - Answer Real; personal Tess has the right to use a path that crosses her neighbor's property in order to reach a public street. What's the best description of her property right? - Answer Easement Vlad's will provides that his son is to receive Vlad's house upon Vlad's death. What property right is Vlad exercising? - Answer Transfer Anne doesn't own her house, she rents it and has the right to occupy it. What type of property right best describes Anne's right to occupy the house? - Answer Possession A landlord places a term in a lease prohibiting pets on the premises. This is an illustration of what type of property right? - Answer Control Tim has the right to enjoy the property any way he sees fit so long as it's lawful. Which of the following best describes this particular right? - Answer Use A _____ governs how structures are to be built and maintained on private property. - Answer Building code _____ dictates what use you can make of property within a certain geographic region. - Answer Zoning Your neighbor refuses to clean his swimming pool, which gives off a noxious odor and has become a breeding ground for mosquitos. This makes it impossible for you to enjoy your backyard. Which of the following restrictions on private property rights best helps you out? - Answer Private nuisance law A business owner doesn't want to serve women but is open to all other members of the public. Which of the following prevent him from doing this? - Answer Anti-discrimination laws Which power permits the government to take your private property even if you don't want it to do so? - Answer Eminent domain Which of the following statements best describes a 'Tenancy at will?' - Answer Either party can terminate the lease at any time and for any reason Frank owns several acres of rural land. ABC Mining Company is allowed to enter his land and extract copper from several mines. ABC owns the rights to the copper but doesn't possess the land. What type of interest does ABC Mining Company hold? - Answer A profit Mary owns her home outright. She can sell it, deed it, or will it to someone else if she wishes. What type of estate is this? - Answer Fee simple absolute David wills his real property to Darlene but specifies that Douglas can live on and possess the property until Douglas' death. What type of interest does Douglas possess? - Answer A life estate Charlie owns an apartment that is located above Curt's drug store. Charlie is allowed to use the stairs in the drug store to get to his apartment. Charlie holds: - Answer An easement If you hold a _____, you have a present right to possess and use the relevant real property. - Answer Possessory estate A _____ is a non-possessory interest in real estate where you may have right of possession one day. - Answer A future interest Anne has a future interest in a house, but she only is entitled to possession of the house if Don stops using it as a residence. What type of future interest does Anne have? - Answer Her interest is contingent Maria wants to convey a future interest after she has died. How can she do this? - Answer Through a devise A _____ is transfer of property during life. - Answer Grant What do we call a category of future interests that are held by a grantor or devisor? - Answer Reversionary interests Which of the following is NOT a reversionary interest? - Answer Remainder Jack grants a life estate to Diane. What future interest does Jack have? - Answer A reversion John conveys a piece of property in fee simple defeasible to his city so long as the city uses the property as a public park. What type of future interest does John have? - Answer Possibility of reverter Which of the following future interests requires its holder to take action before gaining possession? - Answer Right of entry Tim conveys a life estate to Stan with a remainder interest to Fran. What future interest does Tim have? - Answer None Nathan conveys a piece of real estate to Martha for life and then to Oliver in fee simple. What type of future interest does Oliver have? - Answer A remainder Abe conveys a life estate to Ben and then to Chad in fee simple should Chad survive Ben; if Chad dies before Ben, then David gets the property in fee simple. Assume Abe, Ben, Chad, and David are all alive and well. Who has a vested remainder? - Answer No one Dad conveys a life estate to Grandma with a remainder in Dad's heirs. What common law doctrine must Dad be worried about? - Answer The Doctrine of Worthier Title David conveys a piece of real property to Carl so long as the property is used for residential purposes. If it ceases to be used for residential purposes, Beth will receive the property in fee simple. What type of future interest does Beth have? - Answer An executory interest What's the best description of an action you can commence in court to resolve a boundary dispute? - Answer A quiet title action Which of the following can form the boundary of a piece of property? - Answer An imaginary line, an ocean, a lake, and a river What may an ambiguous legal description do to title to a parcel of property? - Answer Make it unmarketable We can say title is unmarketable if a _____ will not accept it. - Answer A reasonably prudent person Sarah is putting in a new driveway that is going to come pretty close to her neighbor's property. How can Sarah reasonably ensure she doesn't place any of it on her neighbor's land without going to court? - Answer Have her property surveyed Nora has maintained a greenhouse on Abby's land for 21 years with Abby's permission. Has Nora obtained the title to the ground upon which the greenhouse sits by adverse possession? - Answer No