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Real Estate Exam > Property Ownership, Land Use Controls, Regulations > Flashcards

Property Ownership, Land Use Controls, Regulations Flashcards

(72 cards)

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1
Q

Property is

A

Rights or interests

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2
Q

Describe real property

A

Immovable, land, fixtures, appurtenances, bearing wall

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3
Q

What are fixtures

A

Incorporated into land, affixed to land, become real property, not incidental

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4
Q

How do you identify if something is a fixture? (MARIA)

A

M - method of attachment
A - adaptability of the lien
R - relationship of the parties
I - intention
A - agreement

Not cost and not time of attachment

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5
Q

Explain encumbrances

A

Affects or limits title, not insurance

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6
Q

Explain a non-money encumbrance

A

Easement - buyer has same rights as seller

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7
Q

How can you prove your rights to easement

A

File a quite title suit (legal document)

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8
Q

What can you do to terminate use of easement

A

File a quitclaim deed

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9
Q

What is prescription in easement

A

Gives right to use since it’s been used over the years

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10
Q

Encroachment is

A

Sue neighbors for trespass

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11
Q

What are some money encumbrances

A

Lien (due to creditor), judgment (court of law), mortgage, trust deed

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12
Q

Describe estates (DQNE)

A

Degree, quantity, nature, extent of interest (who are involved) (DQNE)

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13
Q

Describe freehold estate

A

Ownership, indefinite, life/fee ownership

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14
Q

Fee simple defeasible is

A

Sold with a condition/agreement. (Ex. No alcohol)

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15
Q

Life estate is based on

A

Based on the duration of someone’s life

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16
Q

Estate in reversion is

A

2 parties involved, reverts back to original owner

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17
Q

Who’s involved in an Estate in remainder

A

3rd party involved

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18
Q

Less-than freehold estate is

A

Definite time period leases, leasing or renting interest

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19
Q

Estate for years is

A

Definite beginning and ending point, lease store building for 6 months, September 1 to January 1

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20
Q

Police power is

A

Zoning and planning, promote public health, safety, morals, general welfare

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21
Q

With police power, legal non-conforming use is

A

Is grandfathered in

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22
Q

Escheat is

A

When owner dies with no will or heirs, assets revert to state

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23
Q

Subdivision map act is managed by

A

Cities and counties

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24
Q

What does the planning commission not regulate

A

Ordinances

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25
A master plan consists of
Planning, zoning districts, streets, seismic (earthquake zones)
26
Before burning trash you should
Contact local air district
27
Local building codes require
Minimum standards
28
When there a conflicts between codes, which one is of more of importance
The one with higher standards
29
Subdivided lands law is how many lots
5 lots or more
30
Coastal commission is
Build near the ocean
31
Deed restrictions are private restrictions that are set by
Developer or grantor
32
Violating a condition for private controls, penalties are
Penalties are more severe
33
Most restrictive restriction
Restricts
34
Quiet enjoyment is
Possession, paramount title, not to be bothered by your landlord
35
Subdivider gives public report to
Anyone, anytime
36
What is not included in a public report by subdivider
Does not include reasonable values (sales prices)
37
Building residential subdivision requires
Acquisition, approval, development
38
To rescind approval of new subdivision you must
Desist (complaints and stop what you’re doing) and refrain order
39
Negative declaration is
A statement that declares that there are no harm to environment
40
In subdivision, liquidated damages are limited to
Amount of deposit
41
Explain the interest in a condominium
Undivided interest in common, separate interest in air space
42
Explain the interest of owners of condo, pud, co-op
Common interest in airspace above common areas
43
In a condominium, seller provides buyer
By laws, CC&Rs, financial statement
44
What does an infill developer do
Build on underutilized lot in populated area
45
Smart growth is
Ecology friendly
46
Brownfield Economic Development Initiative is
They redevelop contaminated properties, a HUD program
47
EPA (Environmental Protection Agency) Superfund Sites does
Clean up toxic waste Collection of statutes Establish liability Recovery Act of 1976
48
What are special categories of land use
Timeshare interests Resort development living Housing for the elderly
49
Percolating waters mean
Waters beneath surface
50
Overlying rights mean
Pump and use underground waters
51
Riparian owner means
Moving watercourse like river, flowing water, stream of water
52
Littoral owner means
Water with shoreline like lake, standing water
53
Appropriation is
Taking water from public stream
54
Potable means
Water safe for drinking
55
A property that’s movable, alienated, hypothecated is
Personal property
56
Crop sold under contract is considered
Personal property
57
Trade fixtures are considered
Personal property
58
Chattel real is
Personal property in french
59
Leasehold estates (owner, tenant) is considered
Not real property
60
Emblements (crop grown by owner) is considered
Not real property
61
Chose is
Personal property in French
62
Picked fruit (agreement before escrow closes) is considered
Personal property
63
Run with the land is
Appurtenances
64
Easements are considered
Appurtenances
65
Convenants (promises) are considered
Appurtenances
66
Water company stock is an example of
Appurtenances
67
Not fixtures are
Appurtenances
68
Estate with most interest estate
Fee simple estate
69
Estate with indefinite duration
Fee simple estate
70
Estate with maximum rights
Fee simple estate
71
Estate that leave to heirs
Estate of inheritance
72
Estate that is not free of encumbrances
Fee simple estate

Real Estate Exam (8 decks)

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