Ryan Fryer
Test por , creado hace más de 1 año

300 Real Estate Test sobre Chapter 1, creado por Ryan Fryer el 14/09/2015.

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Ryan Fryer
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Chapter 1

Pregunta 1 de 20

1

Which phrase best defines real estate?

Selecciona una de las siguientes respuestas posibles:

  • land and the air above it

  • Land and all things permanently attached by nature

  • Land and all things permanently affixed to it

  • land and the mineral rights in the land

Explicación

Pregunta 2 de 20

1

The term nonhomogeneity refers to

Selecciona una de las siguientes respuestas posibles:

  • scarcity

  • immobility

  • uniqueness

  • indestructibility

Explicación

Pregunta 3 de 20

1

The bundle of legal rights is included in the definition of

Selecciona una de las siguientes respuestas posibles:

  • land

  • real estate

  • real property

  • trade fixture

Explicación

Pregunta 4 de 20

1

The bundle of legal rights includes all of the following rights except

Selecciona una de las siguientes respuestas posibles:

  • possess the property

  • enjoy the property within the framework of the law

  • sell or otherwise convey the property

  • use the property for any purpose

Explicación

Pregunta 5 de 20

1

All of the following would be considered real estate except

Selecciona una de las siguientes respuestas posibles:

  • fences

  • buildings

  • growing trees

  • farm equipment

Explicación

Pregunta 6 de 20

1

Which of the following would not be a consideration when determining whether an item is real property?

Selecciona una de las siguientes respuestas posibles:

  • Cost of the item when purchased

  • Method of its attachment to other real property

  • Intended use of the item by its owner

  • Manner in which the item is actually used with other real property

Explicación

Pregunta 7 de 20

1

Which of the following is a physical characteristic of real estate

Selecciona una de las siguientes respuestas posibles:

  • Indestructibility

  • Permanence of investment

  • Location or area preference

  • Scarcity

Explicación

Pregunta 8 de 20

1

Real property can be converted into personal property through

Selecciona una de las siguientes respuestas posibles:

  • severence

  • accession

  • conversion

  • inference

Explicación

Pregunta 9 de 20

1

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?

Selecciona una de las siguientes respuestas posibles:

  • The tenant must remove the awning before the rental period is over

  • Because of its nature, the awning is considered personal property

  • The awning is considered a fixture

  • Because of the nature of the property, the awning is considered a trade fixture

Explicación

Pregunta 10 de 20

1

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?

Selecciona una de las siguientes respuestas posibles:

  • Air rights

  • Surface rights

  • Subsurface rights

  • Air and subsurface rights

Explicación

Pregunta 11 de 20

1

The terms real estate includes natural components of the land as well as

Selecciona una de las siguientes respuestas posibles:

  • permanent man-made improvements

  • patents

  • all of the rights conveyed by ownership

  • any trade fixtures

Explicación

Pregunta 12 de 20

1

The term real estate includes natural components of the land as well as

Selecciona una de las siguientes respuestas posibles:

  • permanent man-made improvements

  • patents

  • all of the rights conveyed by ownership

  • any trade fixtures

Explicación

Pregunta 13 de 20

1

Which term refers to anything that can be owned?

Selecciona una de las siguientes respuestas posibles:

  • Chattel

  • Property

  • Underlying Ownership

  • Residuals

Explicación

Pregunta 14 de 20

1

The rights, privileges, and improvements that belong to the land and are conveyed when ownership transfers are

Selecciona una de las siguientes respuestas posibles:

  • attachments

  • appurtenances

  • restrictions

  • improvements

Explicación

Pregunta 15 de 20

1

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

Selecciona una de las siguientes respuestas posibles:

  • coal notice

  • subsidence notice

  • coal support

  • subsistence support

Explicación

Pregunta 16 de 20

1

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?

Selecciona una de las siguientes respuestas posibles:

  • Ceiling fans are normally considered to be real estate

  • The ceiling fan belongs to the seller

  • Ceiling fans are considered trade fixtures

  • Ceiling fans are considered personal proptery

Explicación

Pregunta 17 de 20

1

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?

Selecciona una de las siguientes respuestas posibles:

  • Air rights

  • Surface rights

  • Subsurface rights

  • Occupancy rights

Explicación

Pregunta 18 de 20

1

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

Selecciona una de las siguientes respuestas posibles:

  • real property because it will be permanently affixed to the existing structure

  • personal property

  • a chattel that is real property

  • a trade or chattel fixture

Explicación

Pregunta 19 de 20

1

Method of annexation, adaptation to real estate, and agreement between the parties are the legal tests for determining whether an item is

Selecciona una de las siguientes respuestas posibles:

  • a trade fixture or personal property

  • real property or real estate

  • a fixture or personal property

  • an improvement

Explicación

Pregunta 20 de 20

1

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

Selecciona una de las siguientes respuestas posibles:

  • physical deterioration

  • area preference

  • permanence of investment

  • immobility

Explicación

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