Colibri real estate express chapter 8 Questions and Answers 100% Pass

Colibri real estate express chapter 8 Questions and Answers 100% Pass Which of the following is NOT a characteristic of land? A. It is permanent. B. It is destructible C. It is unique. D. It is immobile - Answer- B. It is destructible Which of the following is included in the bundle of rights inherent in ownership? A. To inherit B. To tax C. To transfer D. To vote - Answer- C. To transfer Which of the following is a descriptive, non-legal term for a group of two or more people who combine their financial resources to achieve certain investment objectives? A. Joint venture B. Corporation C. Partnership D. Syndicate - Answer- D. Syndicate If an owner wants an antique chandelier to remain personal property, what must he or she do? A. Have the intention of removing it when he or she sells the home B. Never install it permanently C. List it as a personal item when the property sells D. Any of the above - Answer- D. Any of the above Subsurface rights extend A. to the center of the earth. B. to the water table. C. two feet below the surface. D.six inches below the surface. - Answer- A. to the center of the earth. The right to encumber property means the right to A. subdivide the property. B. drill/mine for minerals. C. build a structure on the property. D. mortgage the property as collateral for debt. - Answer- D. mortgage the property as collateral for debt. Rights of survivorship A. allows the court to auction off all property and split the funds among all survivors. B. allows all creditors to seek any damages and claims from the heirs. C. means that if a joint tenant dies, all interests and rights pass to the surviving joint tenants free from any claims of creditors or heirs. D. means that all rights pass to a trust fund account. - Answer- C. means that if a joint tenant dies, all interests and rights pass to the surviving joint tenants free from any claims of creditors or heirs. Which of the following would be intangible property? A. RV B. Boats C. Check book D. Furniture - Answer- C. Check book Littoral rights include A. the ownership of land under the water surface. B. land ownership up to the low-water mark. C. land ownership up to the high-water mark. D. ownership of water rights. - Answer- C. land ownership up to the high-water mark. Brothers Jim and Frank jointly hold a parcel of land. The property is held in A. severalty. B. co-ownership. C. trust. D. probate. - Answer- B. co-ownership. If the right to use the land is included in the bundle of rights, which of the following is not included in that right to use? A. Mining B. Building structures C. Infringing on neighbors D. Cultivating - Answer- C. Infringing on neighbors What is another term for fee simple? A. Conditional Fee B. Life Tenant C. Fee Interest D. Fee Basic - Answer- C. Fee Interest A tract of land A. has buildings attached. B. cannot be subdivided. C. is defined by boundaries. D. is not defined by boundaries. - Answer- C. is defined by boundaries. Which of the following best describes personal property? A. Is readily moveable from one location to another B. Is not readily moveable from one location to another C. Is attached to the ground D. Is transferred by title or deed - Answer- A. Is readily moveable from one location to another Which of the following is NOT an act of waste? A. Neglecting to pay property taxes B. Causing a fire that destroys the home C. Using the property for something other than was intended D. Maintaining landscape features - Answer- D. Maintaining landscape features Which of the following terms refers to the rights of a property that abuts a stream or river? A. Allodial B. Alluvial C. Littoral D. Riparian - Answer- D. Riparian Which of the following is NOT a characteristic of an estate in common? A. Unequal rights B. Identical rights C. No survivorship D. Two or more owners - Answer- A. Unequal rights Tenancy in common allows for