1. Severance ANS >>> the performance of turning real property into personal
property
2. What is the main difference between tendency in common and joint ten-
dency is that with tendency in common, when a co-owner dies? ANS >>> the
undivided interest passes to his heirs
3. A tenant rented an apartment signing a 15 month lease. After the lease ex-
pired, the tenant paid 1 month's rent and got a receipt. What kind of leasehold
does this tenant have? ANS >>> Tenancy at will
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, 4. Although states make specific laws governing water rights and the rights
in land that borders water, most states generally follow one of two basic
doctrines regarding water rights. Either riparian and littoral rights are auto-
matically conveyed with property, or all water rights are controlled by the state
under the doctrine of? ANS >>> prior appropriation
5. Legal description using the government survey system are not generally
used in? ANS >>> the original 13 states
6. An owner hired a construction company to build a swimming pool at a
new home. The owner failed to pay the bill once the work was completed
and the construction company filed a lien to obtain payment of the debt. The
encumbrance created is called? ANS >>> a mechanic's lien
7. Building codes are? ANS >>> ordinances that specify construction standards
8. An environmental impact statement (IES) ANS >>> projects the impact on
environment or proposed project
9. A lawsuit for inverse condemnation may be brought by ANS >>> the
homeowner
10. A deed restriction is applicable to the activities of? ANS >>> all owners
present and future
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, 11. A land owner wishes to build a neighborhood grocery store on a busy
street in an area zoned for residential use. What would most likely be used to
obtain permission for this store? ANS >>> Conditional use permit or zoning
variance
12. When preparing a market data estimate of value, what category of adjust-
ment is NOT essential? ANS >>> the original cost of the building
13. Depreciation is calculated based on the? ANS >>> cost of the building only
14. A competitive market analysis is MOST often used for? ANS >>> setting a listin
price
15. A prospective seller asks a salesperson to recommend a listing price for
a property. The salesperson should suggest? ANS >>> a competitive market
analysis to determine the property's value
16. A couple owns an older home in a neighborhood that is becoming a
commercial area. Because of the change in the use of the land, the couple
can expect the value of their parcel to increase at some future time. This is an
example of the principle of ANS >>> anticipation
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property
2. What is the main difference between tendency in common and joint ten-
dency is that with tendency in common, when a co-owner dies? ANS >>> the
undivided interest passes to his heirs
3. A tenant rented an apartment signing a 15 month lease. After the lease ex-
pired, the tenant paid 1 month's rent and got a receipt. What kind of leasehold
does this tenant have? ANS >>> Tenancy at will
mailto:https://www.stuvia.com/en-us/user/techgrades
, 4. Although states make specific laws governing water rights and the rights
in land that borders water, most states generally follow one of two basic
doctrines regarding water rights. Either riparian and littoral rights are auto-
matically conveyed with property, or all water rights are controlled by the state
under the doctrine of? ANS >>> prior appropriation
5. Legal description using the government survey system are not generally
used in? ANS >>> the original 13 states
6. An owner hired a construction company to build a swimming pool at a
new home. The owner failed to pay the bill once the work was completed
and the construction company filed a lien to obtain payment of the debt. The
encumbrance created is called? ANS >>> a mechanic's lien
7. Building codes are? ANS >>> ordinances that specify construction standards
8. An environmental impact statement (IES) ANS >>> projects the impact on
environment or proposed project
9. A lawsuit for inverse condemnation may be brought by ANS >>> the
homeowner
10. A deed restriction is applicable to the activities of? ANS >>> all owners
present and future
mailto:https://www.stuvia.com/en-us/user/techgrades
, 11. A land owner wishes to build a neighborhood grocery store on a busy
street in an area zoned for residential use. What would most likely be used to
obtain permission for this store? ANS >>> Conditional use permit or zoning
variance
12. When preparing a market data estimate of value, what category of adjust-
ment is NOT essential? ANS >>> the original cost of the building
13. Depreciation is calculated based on the? ANS >>> cost of the building only
14. A competitive market analysis is MOST often used for? ANS >>> setting a listin
price
15. A prospective seller asks a salesperson to recommend a listing price for
a property. The salesperson should suggest? ANS >>> a competitive market
analysis to determine the property's value
16. A couple owns an older home in a neighborhood that is becoming a
commercial area. Because of the change in the use of the land, the couple
can expect the value of their parcel to increase at some future time. This is an
example of the principle of ANS >>> anticipation
mailto:https://www.stuvia.com/en-us/user/techgrades
