REAL ESTATE Questions and Solutions 2024

REAL ESTATE Questions and Solutions 2024 The concerns of the federal government in regulating real property right's include - Answer - Discrimination Which of the following is included in the bundle of rights inherent in ownership - Answer -To transfer What are three unique physical characteristics of land? - Answer -Immobile, indestructible, heterogeneous The concept that the state controls all bodies of water is called - Answer -The doctrine of prior appropriation Which government entity is the primary regulator of the real estate business? - Answer -The state The level of government that focuses on land-use regulations and taxation is the - Answer -County and local A property abutting a static body of water has ____________ rights - Answer -Littoral Which may an item attached to a structure be considered personal property rather than real property - Answer -When the owner originally intended to remove it before conveying the property Which is the "best" description of "land" - Answer -Everything above, on, and below the surface of the Earth What part of the non-navigable waterway does the owner of an abutting property own - Answer -To the middle of the waterway Surface rights include which of the following - Answer -Water rights What guarantees the right of private ownership of real estate in the United States - Answer -The constitution Which of these is the best definition for personal property - Answer -Any property that is not classified as real property What do we call the conversion of real property to personal property by detaching it from the real estate - Answer -Affixing The primary distinction between the legal concepts of land and real estate is that - Answer -land does not include man-made structures Uncle Jake wrote his will out on a notepad. This type of will is called - Answer -HolographicOf the principle forms of title of evidence in Illinois, the one that provides the best evidence is - Answer - A title insurance policy A deed is not valid unless it is - Answer -Accompanied by a consideration A hermit lives secretly in a cave on a large property. After 20 years, the hermit makes a claim of ownership. This claim will most likely be - Answer -Declined because possess