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Beschreibung
Quiz von Ryan Fryer, aktualisiert more than 1 year ago
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Erstellt von Ryan Fryer
vor etwa 9 Jahre
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Frage 1
Frage
Which phrase best defines real estate?
Antworten
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land and the air above it
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Land and all things permanently attached by nature
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Land and all things permanently affixed to it
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land and the mineral rights in the land
Frage 2
Frage
The term nonhomogeneity refers to
Antworten
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scarcity
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immobility
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uniqueness
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indestructibility
Frage 3
Frage
The bundle of legal rights is included in the definition of
Antworten
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land
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real estate
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real property
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trade fixture
Frage 4
Frage
The bundle of legal rights includes all of the following rights except
Antworten
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possess the property
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enjoy the property within the framework of the law
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sell or otherwise convey the property
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use the property for any purpose
Frage 5
Frage
All of the following would be considered real estate except
Antworten
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fences
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buildings
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growing trees
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farm equipment
Frage 6
Frage
Which of the following would not be a consideration when determining whether an item is real property?
Antworten
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Cost of the item when purchased
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Method of its attachment to other real property
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Intended use of the item by its owner
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Manner in which the item is actually used with other real property
Frage 7
Frage
Which of the following is a physical characteristic of real estate
Antworten
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Indestructibility
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Permanence of investment
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Location or area preference
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Scarcity
Frage 8
Frage
Real property can be converted into personal property through
Antworten
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severence
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accession
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conversion
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inference
Frage 9
Frage
The tenant of a single family home installs an awning over the buildings front windows to keep the sun away from some delicate hanging plans. Which of the following is true?
Antworten
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The tenant must remove the awning before the rental period is over
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Because of its nature, the awning is considered personal property
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The awning is considered a fixture
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Because of the nature of the property, the awning is considered a trade fixture
Frage 10
Frage
A property owner sells the rights to minerals located in the ground to an exploration company. After selling the mineral rights, the owner no longer owns which of the following?
Antworten
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Air rights
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Surface rights
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Subsurface rights
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Air and subsurface rights
Frage 11
Frage
The terms real estate includes natural components of the land as well as
Antworten
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permanent man-made improvements
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patents
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all of the rights conveyed by ownership
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any trade fixtures
Frage 12
Frage
The term real estate includes natural components of the land as well as
Antworten
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permanent man-made improvements
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patents
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all of the rights conveyed by ownership
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any trade fixtures
Frage 13
Frage
Which term refers to anything that can be owned?
Antworten
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Chattel
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Property
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Underlying Ownership
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Residuals
Frage 14
Frage
The rights, privileges, and improvements that belong to the land and are conveyed when ownership transfers are
Antworten
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attachments
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appurtenances
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restrictions
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improvements
Frage 15
Frage
Pennsylvania law requires the seller to provide notice to a purchaser about whether a structure on the land is entitled to support from the underlying coal. This is known as the
Antworten
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coal notice
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subsidence notice
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coal support
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subsistence support
Frage 16
Frage
While moving into a newly purchased home, the buyer discovered that the seller had taken the ceiling fan that hung over the dining room table. The seller had not indicated that the ceiling fan would be removed, and the contract did not address this issue. Which statement is true?
Antworten
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Ceiling fans are normally considered to be real estate
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The ceiling fan belongs to the seller
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Ceiling fans are considered trade fixtures
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Ceiling fans are considered personal proptery
Frage 17
Frage
A buyer purchased a parcel of land and immediately sold the mineral rights to an oil company. The buyer gave up which of the following?
Antworten
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Air rights
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Surface rights
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Subsurface rights
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Occupancy rights
Frage 18
Frage
A homeowner is building an enclosed front porch on his home. A truckload of lumber that the homeowner has purchases has been left in the driveway for use in building the porch. At this point, the lumber is considered
Antworten
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real property because it will be permanently affixed to the existing structure
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personal property
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a chattel that is real property
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a trade or chattel fixture
Frage 19
Frage
Method of annexation, adaptation to real estate, and agreement between the parties are the legal tests for determining whether an item is
Antworten
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a trade fixture or personal property
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real property or real estate
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a fixture or personal property
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an improvement
Frage 20
Frage
A buyer is interested in a house that fits most of her needs, but is located in a busy area where she is not sure she wants to live. Her concern about the property's location is called
Antworten
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physical deterioration
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area preference
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permanence of investment
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immobility
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