Real estate property ownership Pre course Study
Guide Exam Questions and Verified for Accuracy
Answers 2024/2025
An estate in real property: - correct answer may exist along with other estates in the
same property.
A tenant rented an apartment, signing a 15-month lease. After the lease expired, the
tenant paid 1 month's rent and got a receipt. What kind of leasehold does the tenant
have? - correct answer holdover tenancy. Holdover tenancy is a tenancy whereby a
lessee retains possession of leased property after the lease has expired and the
landlord, by continuing to accept rent, agrees to the tenant's continued occupancy as
defined by state law.
Which of the following terms best describes personal property that, by its attachment to
real property, is regarded as real estate? - correct answer fixtures
In reviewing the deed to a listed property, a licensee noted a number of limitations
regarding its use. These limitations are commonly known as: - correct answer
restrictive covenants
Jim and sandy are next-door neighbors. Sandy tells jim that he can store his camper in
her yard for a few weeks until she needs the space. Sandy did not charge jim rent for
the use of her yard. Sandy has given jim a(n) what? - correct answer license
Ginny owns 50 acres of land with 500 feet of frontage on a desirable recreational lake.
She wishes to subdivide the parcel into sellable lots, but she wants to retain control over
the lake frontage while allowing lot owners to have access to the lake. Which of the
following types of access rights would provide the greatest protection for a prospective
purchaser? - correct answer an appurtenant easement
To create a joint tenancy relationship in the ownership of real estate, there must be
unities of: - correct answer possession, time, interest, and title
,Many states determine the order of water rights according to which users of the water
hold a recorded beneficial use permit. This allocation of water rights is determined by: -
correct answer the doctrine of prior appropriation. All terms relate to water rights, with
"riparian"
The word "improvement" would refer to all of the following except: - correct answer
trade fixtures. The term "trade fixture" refers to an item installed by a tenant in a rented
commercial property that he or she removes at the end of the occupancy.
In a gift of a parcel of real estate, one of the two owners was given an undivided 60
percent interest and the other received an undivided 40 percent interest. The two
owners hold their interests as what? - correct answer tenants in common
When a company furnishes materials for the construction of a house and is
subsequently not paid, it may file a(n): - correct answer mechanic's lien.
The rights of ownership of real property do not include the right of: - correct answer
compatibility
Which of the following is/are considered to be personal property? - correct answer
furniture
If the tenant stays past the term of his lease, this creates an: - correct answer estate
at sufferance
Which of the following is an encumbrance? - correct answer encumbrance is a legal
term for anything that affects or limits the title of a property, such as mortgages, leases,
easements, liens, or restrictions.
Which of the following is not a lien? - correct answer private restrictions. Liens are
always tied to money.
, All of the following are included in the bundle of legal rights except - correct answer
property is accompanied with the bundle of rights, the bundle of rights are rights
inherent in ownership of property. The bundle of rights includes the right to use, to sell,
to mortgage, to lease, to enter, and to give away, or the right to refuse to exercise any
of these rights.
The holder of a life estate can do all of the following except: - correct answer will it. A
life estate only exists for the life of its owner or the life of some other designated person.
The technical definition of real property includes: - correct answer anything
immovable by law.
A judgment that has been recorded would be a(n): - correct answer involuntary lien.
Under a lease, the leasehold interest lies in the: - correct answer lessee
Ingress and egress apply to: - correct answer easements
Which of the following does not "go with the land"? - correct answer an easement in
gross attaches personally to the owner, not to the land.
A judgment will be most effective in the county where the: - correct answer judgment
is recorded.
The term impounds refers to: - correct answer reserves. Impounds are monies set
aside (reserves) to cover future payments of recurring costs such as taxes and
insurance.
Ad valorem is best defined as - correct answer according to value
The four unities of joint tenancy are: - correct answer time, title, interest, and
possession
Guide Exam Questions and Verified for Accuracy
Answers 2024/2025
An estate in real property: - correct answer may exist along with other estates in the
same property.
A tenant rented an apartment, signing a 15-month lease. After the lease expired, the
tenant paid 1 month's rent and got a receipt. What kind of leasehold does the tenant
have? - correct answer holdover tenancy. Holdover tenancy is a tenancy whereby a
lessee retains possession of leased property after the lease has expired and the
landlord, by continuing to accept rent, agrees to the tenant's continued occupancy as
defined by state law.
Which of the following terms best describes personal property that, by its attachment to
real property, is regarded as real estate? - correct answer fixtures
In reviewing the deed to a listed property, a licensee noted a number of limitations
regarding its use. These limitations are commonly known as: - correct answer
restrictive covenants
Jim and sandy are next-door neighbors. Sandy tells jim that he can store his camper in
her yard for a few weeks until she needs the space. Sandy did not charge jim rent for
the use of her yard. Sandy has given jim a(n) what? - correct answer license
Ginny owns 50 acres of land with 500 feet of frontage on a desirable recreational lake.
She wishes to subdivide the parcel into sellable lots, but she wants to retain control over
the lake frontage while allowing lot owners to have access to the lake. Which of the
following types of access rights would provide the greatest protection for a prospective
purchaser? - correct answer an appurtenant easement
To create a joint tenancy relationship in the ownership of real estate, there must be
unities of: - correct answer possession, time, interest, and title
,Many states determine the order of water rights according to which users of the water
hold a recorded beneficial use permit. This allocation of water rights is determined by: -
correct answer the doctrine of prior appropriation. All terms relate to water rights, with
"riparian"
The word "improvement" would refer to all of the following except: - correct answer
trade fixtures. The term "trade fixture" refers to an item installed by a tenant in a rented
commercial property that he or she removes at the end of the occupancy.
In a gift of a parcel of real estate, one of the two owners was given an undivided 60
percent interest and the other received an undivided 40 percent interest. The two
owners hold their interests as what? - correct answer tenants in common
When a company furnishes materials for the construction of a house and is
subsequently not paid, it may file a(n): - correct answer mechanic's lien.
The rights of ownership of real property do not include the right of: - correct answer
compatibility
Which of the following is/are considered to be personal property? - correct answer
furniture
If the tenant stays past the term of his lease, this creates an: - correct answer estate
at sufferance
Which of the following is an encumbrance? - correct answer encumbrance is a legal
term for anything that affects or limits the title of a property, such as mortgages, leases,
easements, liens, or restrictions.
Which of the following is not a lien? - correct answer private restrictions. Liens are
always tied to money.
, All of the following are included in the bundle of legal rights except - correct answer
property is accompanied with the bundle of rights, the bundle of rights are rights
inherent in ownership of property. The bundle of rights includes the right to use, to sell,
to mortgage, to lease, to enter, and to give away, or the right to refuse to exercise any
of these rights.
The holder of a life estate can do all of the following except: - correct answer will it. A
life estate only exists for the life of its owner or the life of some other designated person.
The technical definition of real property includes: - correct answer anything
immovable by law.
A judgment that has been recorded would be a(n): - correct answer involuntary lien.
Under a lease, the leasehold interest lies in the: - correct answer lessee
Ingress and egress apply to: - correct answer easements
Which of the following does not "go with the land"? - correct answer an easement in
gross attaches personally to the owner, not to the land.
A judgment will be most effective in the county where the: - correct answer judgment
is recorded.
The term impounds refers to: - correct answer reserves. Impounds are monies set
aside (reserves) to cover future payments of recurring costs such as taxes and
insurance.
Ad valorem is best defined as - correct answer according to value
The four unities of joint tenancy are: - correct answer time, title, interest, and
possession
