Podcast
Questions and Answers
Real estate includes all of the following EXCEPT:
Real estate includes all of the following EXCEPT:
- Fixtures
- Severable things
- Land
- Cultivated crops (correct)
Which of the following is NOT considered a fixture?
Which of the following is NOT considered a fixture?
- Trees
- Fences
- Buildings
- Cultivated crops (correct)
What is the test of a fixture?
What is the test of a fixture?
- Intention of the person in placing the item on the land
- Method by which the item is attached (correct)
- Relationship of the parties
- Adaptability of the item for the land's ordinary use
What is a trade fixture?
What is a trade fixture?
What are transferable development rights of airspace?
What are transferable development rights of airspace?
What is considered part of the real estate, except for cultivated crops and other severable things?
What is considered part of the real estate, except for cultivated crops and other severable things?
Which type of estate is the highest interest in real estate recognized by law?
Which type of estate is the highest interest in real estate recognized by law?
Which type of fee simple estate has no restrictions on the ownership right?
Which type of fee simple estate has no restrictions on the ownership right?
Which type of fee simple estate is limited in some way?
Which type of fee simple estate is limited in some way?
Which type of fee simple estate has a limitation on property use that could result in the loss of the ownership right?
Which type of fee simple estate has a limitation on property use that could result in the loss of the ownership right?
Which type of estate is a present, possessory interest that lasts only as long as the life of a stated person or persons?
Which type of estate is a present, possessory interest that lasts only as long as the life of a stated person or persons?
What is the term used to describe the person who holds what is called an estate in remainder during the life of the holder of the life estate?
What is the term used to describe the person who holds what is called an estate in remainder during the life of the holder of the life estate?
Which form of property ownership allows for sole control over disposition of the property and is sole recipient of any benefits that flow from it?
Which form of property ownership allows for sole control over disposition of the property and is sole recipient of any benefits that flow from it?
What is the term used to describe when part of an improvement to land extends over the boundary line onto an adjoining parcel?
What is the term used to describe when part of an improvement to land extends over the boundary line onto an adjoining parcel?
Which form of co-ownership allows each tenant to have the right to possession of the entire property and cannot be excluded by the other tenants?
Which form of co-ownership allows each tenant to have the right to possession of the entire property and cannot be excluded by the other tenants?
Which form of co-ownership includes the right of survivorship, where the last surviving joint tenant acquires the deceased tenant's interest?
Which form of co-ownership includes the right of survivorship, where the last surviving joint tenant acquires the deceased tenant's interest?
Which form of marital property ownership is all property acquired by either spouse during marriage, except property acquired by gift or inheritance?
Which form of marital property ownership is all property acquired by either spouse during marriage, except property acquired by gift or inheritance?
What happens to a tenancy by the entirety in the event of divorce?
What happens to a tenancy by the entirety in the event of divorce?
Which of the following is true about trade fixtures?
Which of the following is true about trade fixtures?
What happens to trade fixtures that are not removed by the tenant?
What happens to trade fixtures that are not removed by the tenant?
Why is it important to know the distinction between fixtures and personal property?
Why is it important to know the distinction between fixtures and personal property?
Which system is commonly used to describe residential and commercial building lots in the US?
Which system is commonly used to describe residential and commercial building lots in the US?
What is the purpose of the metes and bounds description in land surveying?
What is the purpose of the metes and bounds description in land surveying?
How many sections are there in a township in the Rectangular Survey System?
How many sections are there in a township in the Rectangular Survey System?
Which form of ownership allows for the absolute ownership of a unit in a multiunit building based on a legal description of the airspace the unit actually occupies?
Which form of ownership allows for the absolute ownership of a unit in a multiunit building based on a legal description of the airspace the unit actually occupies?
When a partner dies in a partnership, what happens to that partner's interest in partnership property?
When a partner dies in a partnership, what happens to that partner's interest in partnership property?
Which form of ownership requires each owner to be a shareholder in the corporation that holds title to the real estate?
Which form of ownership requires each owner to be a shareholder in the corporation that holds title to the real estate?
What happens to partnership property when it is transferred by the partnership?
What happens to partnership property when it is transferred by the partnership?
Which form of ownership allows for individually owned parcels together with shared common areas?
Which form of ownership allows for individually owned parcels together with shared common areas?
Who is responsible for reporting and paying taxes on partnership income?
Who is responsible for reporting and paying taxes on partnership income?
