CompuCram Questions & Answers with Rationale | 100% Correct | Verified | Latest Update 2024

Special restrictions to all properties within a subdivision would be found in: - Record of restrictions: RATIONALE A mortgage contains only the terms between the bank and the borrower. The corporate minutes of developers are not public records. Subdivision records are not necessarily public records either, but the records of restrictions are found on the deeds to all properties within a subdivision and on the master plat record. Stock in a mutual water company is best described as: - Real Property: RATIONALE Stock rights in a mutual water company are owned by water users who have organized to form a water company. The stock rights are real property. A and B take title together at the same time under the same deed, each owning one half of the real property. What form of co-ownership will law presume they have? - Tenancy in common: RATIONALE To have joint with right of survivorship (joint tenancy in common), all four unities must be present: possession, interest, time, and title. Right of survivorship also must apply. Estate by the entireties is a form of co-ownership between husband and wife with right of survivorship, but has been abolished in most states. Because the question did not specify whether A and B have the right of survivorship or not, the law presumes tenancy in common. One of the appurtenances to a parcel of land would be: - Bundle of right: