Property Ownership and Classification Quiz

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True or false: Tangible property refers to property in which the object you touch does not have intrinsic value; rather, it is representative of something that has intrinsic value.

False

True or false: A mobile home is not considered real property.

True

True or false: Ownership of real property is conveyed by a deed in which the seller is referred to as the grantee.

False

True or false: In a transaction between a borrower and a lender, the lender is the mortgagor and the borrower is the mortgagee.

False Signup and view all the answers

True or false: Another name for personal property is chattel.

True Signup and view all the answers

True or false: A bill of sale is the document that secures personal property as collateral for a loan.

False Signup and view all the answers

True or false: Surface rights are comprised of land rights and water rights, when applicable.

True Signup and view all the answers

True or false: Littoral rights refer to rights of landowners whose property abuts a river, brook, or stream.

False Signup and view all the answers

True or false: If a landowner has littoral rights, the landowner owns up to the high water mark.

True Signup and view all the answers

True or false: A fixture is an item of property that started out as personal property but, by the manner in which it has been attached to real property, has transformed and become part of the real property.

True Signup and view all the answers

According to county ordinance, sexual orientation is a protected class in Broward County.

True Signup and view all the answers

Florida law guarantees a jury trial in an eminent domain matter.

True Signup and view all the answers

In Florida, a homestead tax exemption application must be filed by January 1st of the year in which you want to first claim the exemption.

False Signup and view all the answers

Current alcoholics are included in the definition of 'handicap' in the Fair Housing Act.

False Signup and view all the answers

Direct condemnation occurs when the government substantially impairs the value of private property.

False Signup and view all the answers

In Broward County, sexual orientation is not a protected class according to county ordinance.

False Signup and view all the answers

Florida law does not guarantee a jury trial in an eminent domain matter.

False Signup and view all the answers

The deadline to file a homestead tax exemption application in Florida is January 1st of the year in which you want to first claim the exemption.

False Signup and view all the answers

Recovering alcoholics are included in the definition of 'handicap' in the Fair Housing Act.

True Signup and view all the answers

Inverse condemnation occurs when the government substantially impairs the value of private property.

True Signup and view all the answers

True or false: The words on a deed that indicate a fee simple absolute are “heirs of his body.”

True Signup and view all the answers

True or false: The holder of a life estate is not given the right of disposition.

False Signup and view all the answers

True or false: An estate (or tenancy) for years has a definite commencement date but no definite termination date.

True Signup and view all the answers

True or false: A tenancy at will is a leasehold that starts out as an estate for years, but after the termination date the tenant remains on the property with the landlord’s consent.

False Signup and view all the answers

True or false: Once an assignment is made, the original tenant no longer is liable on the lease.

True Signup and view all the answers

True or false: A single or married person may own property in severalty.

True Signup and view all the answers

True or false: In a joint tenancy with right of survivorship, the concurrent owners must own equal shares.

True Signup and view all the answers

True or false: If a corporation is a party in a real estate transaction, you need to get a certified copy of its articles of incorporation which is the document that authorizes the sale or purchase of property and gives certain individuals the authority to act on behalf of the corporation.

False Signup and view all the answers

True or false: Florida is not a community property state.

True Signup and view all the answers

True or false: The current amount of the homestead tax exemption in Florida is $50,000.

True Signup and view all the answers

Property Ownership and Classification Quiz

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Questions and Answers

True or false: Tangible property refers to property in which the object you touch does not have intrinsic value; rather, it is representative of something that has intrinsic value.

True or false: A mobile home is not considered real property.

True or false: Ownership of real property is conveyed by a deed in which the seller is referred to as the grantee.

True or false: In a transaction between a borrower and a lender, the lender is the mortgagor and the borrower is the mortgagee.

True or false: Another name for personal property is chattel.

True or false: A bill of sale is the document that secures personal property as collateral for a loan.

True or false: Surface rights are comprised of land rights and water rights, when applicable.

True or false: Littoral rights refer to rights of landowners whose property abuts a river, brook, or stream.

True or false: If a landowner has littoral rights, the landowner owns up to the high water mark.

True or false: A fixture is an item of property that started out as personal property but, by the manner in which it has been attached to real property, has transformed and become part of the real property.

According to county ordinance, sexual orientation is a protected class in Broward County.

Florida law guarantees a jury trial in an eminent domain matter.

In Florida, a homestead tax exemption application must be filed by January 1st of the year in which you want to first claim the exemption.

Current alcoholics are included in the definition of 'handicap' in the Fair Housing Act.

Direct condemnation occurs when the government substantially impairs the value of private property.

In Broward County, sexual orientation is not a protected class according to county ordinance.

Florida law does not guarantee a jury trial in an eminent domain matter.

The deadline to file a homestead tax exemption application in Florida is January 1st of the year in which you want to first claim the exemption.

Recovering alcoholics are included in the definition of 'handicap' in the Fair Housing Act.

Inverse condemnation occurs when the government substantially impairs the value of private property.

True or false: The words on a deed that indicate a fee simple absolute are “heirs of his body.”

True or false: The holder of a life estate is not given the right of disposition.

True or false: An estate (or tenancy) for years has a definite commencement date but no definite termination date.

True or false: A tenancy at will is a leasehold that starts out as an estate for years, but after the termination date the tenant remains on the property with the landlord’s consent.

True or false: Once an assignment is made, the original tenant no longer is liable on the lease.

True or false: A single or married person may own property in severalty.

True or false: In a joint tenancy with right of survivorship, the concurrent owners must own equal shares.

True or false: If a corporation is a party in a real estate transaction, you need to get a certified copy of its articles of incorporation which is the document that authorizes the sale or purchase of property and gives certain individuals the authority to act on behalf of the corporation.

True or false: Florida is not a community property state.

True or false: The current amount of the homestead tax exemption in Florida is $50,000.

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