Unit 2: Real Property Flashcards
(17 cards)
A construction firm builds an office center over a railroad right-of-way. This means that
A. the developer must purchase from the railroad all land under the office center.
B. trains can no longer operate on the tracks under the building during business hours if the noise disturbs the occupants of the office center.
C. the construction firm has built the office center using the subsurface rights to the property.
D. the developer must purchase or lease some land and air rights from the railroad.
D. the developer must purchase or lease some land and air rights from the railroad.
The term fructus naturales refers to which of the following?
A. Annual crops
B. Real Estate
C. Fruits of industry
D. Emblements
B. Real Estate
John purchases a parcel of land and sells the rights to any oil, gas, and minerals located in the ground to an exploration company. This means that he owns all rights to this property EXCEPT
A. air rights.
B. surface rights.
C. subsurface rights.
D. water rights.
C. subsurface rights.
Manufactured housing
A. is generally considered real property.
B. may be considered real property if it is permanently attached to land.
C. may be considered real property even if it is not permanently attached to land.
D. may not be considered real property if it is attached to leased land.
B. may be considered real property if it is permanently attached to land.
A store tenant firmly attaches appropriate appliances for his restaurant business on leased premises. Which statement is TRUE?
A. The appliances are trade fixtures and will be sold as part of the building if the building is sold during the lease term.
B. The appliances are trade fixtures and must be removed before the lease expires.
C. The appliances may not be removed without the landlord’s permission.
D. The appliances become the landlord’s property on installation.
B. The appliances are trade fixtures and must be removed before the lease expires.
Real estate, by definition, includes many elements and parts. Which items would be a part of real estate?
A. Chattel
B. Patio furniture
C. Farm equipment
D. Growing trees
D. Growing trees
Which BEST defines real property?
A. Land and the air above it and the subsurface below it.
B. Land and all that there is above or below the surface, including all things permanently attached to it and legal rights associated with it.
C. Land and the buildings permanently affixed to it.
D. Land and all the legal rights associated with it.
B. Land and all that there is above or below the surface, including all things permanently attached to it and legal rights associated with it.
A fixture is
A. any item that is not a permanent part of the building.
B. real property that at one time was personal property.
C. an item installed by a tenant for temporary use.
D. not included in the sale or mortgage of real estate.
B. real property that at one time was personal property.
The definition of land includes all EXCEPT
A. minerals in the earth.
B. the air above the ground up to infinity.
C. buildings.
D. trees.
C. Buildings
Miguel and Celia are adding an enclosed front porch to their home. The lumber dealer with whom they are contracting has just unloaded a truckload of lumber in front of their house that will be used to build the porch. At this point, the lumber is considered
A. a fixture.
B. real property.
C. personal property.
D. real estate.
C. personal property.
When the new front porch, as described in the question regarding the lumber being unloaded in their Miguel and Celia’s front yard, is completed, the lumber that the dealer originally delivered will be considered
A. personal property.
B. real estate.
C. chattel.
D. emblements.
B. real estate
Suppose that halfway through the construction of the new front porch, work is delayed indefinitely because of unforeseen difficulties. At this point, the lumber the dealer originally delivered would be considered
A. personal property if it has been used in the construction of the porch.
B. real estate if it has been used in the construction of the porch.
C. real property of the contractor.
D. real property of the dealer.
B. real estate if it has been used in the construction of the porch.
Man-made, permanent additions to land are called
A. chattels
B. emblements
C. improvements
D. fructus naturales
C. improvements
Real estate may be converted into personal property by
A. severance
B. accession
C. a bill of sale
D. inference
A. severance
Steven rents a detached, single-family home under a one year lease. Two months into the rental period, Steven installs permanent awnings over the building’s front windows to keep the sun away from some delicate hanging plants. Which statement is TRUE?
A. Because of their permanent nature, the awnings are considered personal property.
B. The awnings are considered fixtures and may not be removed by the tenant.
C. The awnings are now the personal property of the owner.
D. The awnings are considered trade fixtures and may be removed by the tenant.
B. The awnings are considered fixtures and may not be removed by the tenant.
Real estate is often referred to as a bundle of legal rights. Which is NOT among these rights?
A. Right of exclusion
B. Right to use the property for illegal purposes
C. Right of enjoyment
D. Right to sell or otherwise convey the property
B. Right to use the property for illegal purposes
When purchasing real estate from a seller
A. the buyer is actually buying the legal rights to the property that were previously held by the seller.
B. the seller cannot legally retain any rights of ownership.
C. the mineral rights remain with the original owner of the property.
D. the buyer must buy subsurface, air, and surface rights.
A. the buyer is actually buying the legal rights to the property that were previously held by the seller.
