Laws of Contract Test: Questions & Answers: Latest Updated: Guaranteed A+ Score Guide

Which of the following are NOT included in the description of land? a. The earth's surface extending downward to the center of the earth. b. A sewer system. c. Trees and water on the earth's surface. d. Formations such as hills and plateaus. (Ans- b. A property is owned as joint tenants. If one of the owners dies, a. his share of the property passes to the surviving owner immediately. b. the surviving tenant has to wait for the property to go through probate. c. the owner who died share is passed to his heirs. d. the surviving owner will receive half a share of ownership, with the other share going to the deceased owner's heirs. (Ans- his share of the property passes to the surviving owner immediately. Which of the following is TRUE regarding manufactured housing in Texas? a. It is always considered personal property. b. It is always considered real property. c. It is considered real property even if it is not permanently affixed to the land. d. It can be considered real property if the owner chooses to treat it as such and files the proper paperwork. (Ans- It can be considered real property if the owner chooses to treat it as such and files the proper paperwork. A house for sale has a huge deck on its west side. The deck is permanently attached to the house and removing it would damage the house and the landscaping. The deck will transfer with the property when it is sold via a a. bill of sale b. deed of trust c. conveyance deed d. promissory note (Ans- conveyance deed An abstract of title a. is the record of a property's ownership. b. is a summary of what the title search found in the public record. c. includes liens but does not include encumbrances. d. includes encumbrances but does not include liens. (Ans- b. When one party in a joint tenancy dies, the deceased tenant's interest in the property a. transfers directly to the surviving joint tenant(s). b. transfers to the heirs, not to the surviving joint tenant(s). c. is transferred through probate to the surviving joint tenant(s). d. transfers to the estate, not to the surviving joint tenant(s). (Ans- a. Which of the following is FALSE regarding community property? a. It can be mortgaged or conveyed by one spouse without the consent of the other.