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Flashcards in Real Estate - Randomized Questions Deck (12)
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1
Q

All of the following are treated as personal property EXCEPT

A

fructus naturales.

2
Q

The type of real estate ownership that is MOST all-inclusive is a

A

fee simple estate.

3
Q

A bill of sale is used to transfer the ownership of

A

personal property.

4
Q

A trust is a legal arrangement in which title to property is held for the benefit of a third party by a(n)

A

Trustee

5
Q

All of the following are included in the right to control one’s property EXCEPT

A

The right to exclude the utilities’ meter reader is NOT included as a right to control one’s own property

6
Q

a woman held a fee simple title to a vacant lot and let people across use it for commercial only

A

Determinable fee estate

7
Q

Appurtenances are:

A

Appurtenances are rights or privileges associated with the property and generally convey with the sale.

8
Q

Which of the following is the best way to ensure that there are no encroachments and verify the boundaries of a parcel of land?

A

Get a spot survey

9
Q

What is an escrow?

A

Escrow is when a neutral third party holds on to funds during a transaction.
In real estate, it’s used as a way to protect both the buyer and seller during the home purchasing process.

10
Q

Equality in real estate means

A

That portion of the value of owners property that exceeds that amount of their mortgage debt is called. A. equality.

11
Q

That portion of the value of owners property that exceeds that amount of their mortgage debt is called

A

Equality

12
Q

TENANTS IN COMMON is:

A

*Unlike joint tenants, tenants in common do not need to hold equal ownership interests