Real Estate U Final Exam:Real Estate U Final Exam
Study Guide: Latest Updated Solution
/. Encumber - Answer-A person's ability to pledge their real estate as collateral is known
has the right to?
/.The are attached to the wall - Answer-Kitchen cabinets are likely to be considered
fixtures because...?
/.real estate - Answer-Five acres of land with a house, barn, and 2 acres of crops is best
described as?
/.Which of these would not be part of a raw land sale? - Answer-House
/.Emblements - Answer-When land is being sold, timber growing on the land is generally
consider what?
/.M.A.R.I.A - Answer-What acronym can be used to determine if something is a fixture
of moveable property?
/.M.A.R.I.A - Answer-Method, Adaptability, Relationship, Intention, Agreement
/.Trade Fixtures - Answer-A fixture used in commercial property for business or industry
/.Real estate includes - Answer-land and buildings
/.Bundle of Rights - Answer-The rights of an owner to possess, control, enjoy, sell,
lease, mortgage, and dispose of the property.
/.Air Rights - Answer-The right to use, control and occupy the space above a particular
parcel of land.
/.Easement - Answer-The gas company buying the right to cross real property to install
and maintain a gas line is called...?
/.illiquid asset - Answer-Real estate is considered a/an ...........asset?
/.How does a lien holder place a lien on movable property? - Answer-Filing a UCC-1
statement with the appropriate state authority
/.Copper wiring in a house is generally considered what? - Answer-Fixture
, /.Chattle - Answer-Moveable property
/. - Answer-Like a condominium, the owner of a property in a Planned Unit Development
(PUD) is a partial owner of the development's amenities and common areas. How is
each unit's ownership expressed?
/.Descendible - Answer-This word means that a fee simple estate is inheritable?
/.**All of the answer choices provided are correct
Homeowner's association covenant
Utility easement
Local zoning restrictions - Answer-Which of the following is a permissible restriction on
a fee simple estate?
/.Which of the following is not a right that a fee simple property owner has? - Answer-
There are no restrictions
/.fee simple state - Answer-An estate that is unqualified, of indefinite duration, freely
transferable and inheritable is known as a/an...?
/.A life estate is NOT a type of leasehold estate. - Answer-Which of the following is NOT
a type of leasehold estate in real estate?
/.Life Tenant - Answer-The person who retains the life estate interest is called the?
/.Remaindermen - Answer-The individuals who have the right to the property at the end
of the measuring lifetime are called the?
/.Lessor - Answer-What is another term for the landlord in a leasehold estate?
/.Estate for years - Answer-What type of leasehold estate is created if a lease is for a
definite, limited period of time?
/.Three prongs that must be present to create a fee simple estate? - Answer-Alienable
Devisable
Descendible
/.premium mortgage insurance - Answer-required for conventional loan 80%
/.Acceleration Clause - Answer-A condition in a real estate finance instrument giving the
lender the power to declare all sums owing the lender immediately due and payable
upon the happening of an event, such as sale of the property, or a delinquency in the
repayment of the note.
Study Guide: Latest Updated Solution
/. Encumber - Answer-A person's ability to pledge their real estate as collateral is known
has the right to?
/.The are attached to the wall - Answer-Kitchen cabinets are likely to be considered
fixtures because...?
/.real estate - Answer-Five acres of land with a house, barn, and 2 acres of crops is best
described as?
/.Which of these would not be part of a raw land sale? - Answer-House
/.Emblements - Answer-When land is being sold, timber growing on the land is generally
consider what?
/.M.A.R.I.A - Answer-What acronym can be used to determine if something is a fixture
of moveable property?
/.M.A.R.I.A - Answer-Method, Adaptability, Relationship, Intention, Agreement
/.Trade Fixtures - Answer-A fixture used in commercial property for business or industry
/.Real estate includes - Answer-land and buildings
/.Bundle of Rights - Answer-The rights of an owner to possess, control, enjoy, sell,
lease, mortgage, and dispose of the property.
/.Air Rights - Answer-The right to use, control and occupy the space above a particular
parcel of land.
/.Easement - Answer-The gas company buying the right to cross real property to install
and maintain a gas line is called...?
/.illiquid asset - Answer-Real estate is considered a/an ...........asset?
/.How does a lien holder place a lien on movable property? - Answer-Filing a UCC-1
statement with the appropriate state authority
/.Copper wiring in a house is generally considered what? - Answer-Fixture
, /.Chattle - Answer-Moveable property
/. - Answer-Like a condominium, the owner of a property in a Planned Unit Development
(PUD) is a partial owner of the development's amenities and common areas. How is
each unit's ownership expressed?
/.Descendible - Answer-This word means that a fee simple estate is inheritable?
/.**All of the answer choices provided are correct
Homeowner's association covenant
Utility easement
Local zoning restrictions - Answer-Which of the following is a permissible restriction on
a fee simple estate?
/.Which of the following is not a right that a fee simple property owner has? - Answer-
There are no restrictions
/.fee simple state - Answer-An estate that is unqualified, of indefinite duration, freely
transferable and inheritable is known as a/an...?
/.A life estate is NOT a type of leasehold estate. - Answer-Which of the following is NOT
a type of leasehold estate in real estate?
/.Life Tenant - Answer-The person who retains the life estate interest is called the?
/.Remaindermen - Answer-The individuals who have the right to the property at the end
of the measuring lifetime are called the?
/.Lessor - Answer-What is another term for the landlord in a leasehold estate?
/.Estate for years - Answer-What type of leasehold estate is created if a lease is for a
definite, limited period of time?
/.Three prongs that must be present to create a fee simple estate? - Answer-Alienable
Devisable
Descendible
/.premium mortgage insurance - Answer-required for conventional loan 80%
/.Acceleration Clause - Answer-A condition in a real estate finance instrument giving the
lender the power to declare all sums owing the lender immediately due and payable
upon the happening of an event, such as sale of the property, or a delinquency in the
repayment of the note.
