Unit 5 Flashcards
(20 cards)
What rights are included in the traditional bundle of rights?
A. Payment of rent
B. Use of the property for any legal purpose
C. Ability to prohibit ownership by a person from another country
D. Condemnation rights
B. Use of the property for any legal purpose
What certain unusual rights does the owner of land along the Passaic River possess?
A. Riparian rights
B. Subsurface rights
C. Air Rights
D. Solar Rights
A. Riparian rights
What is typically considered personal property
that does NOT convey to a new buyer?
A. Chattels
B. Fixtures
C. Trees
D. Underground oil
A. Chattels
What is considered personal property?
A. Fences
B. Permanent buildings
C. Farm equipment
D. Growing trees
C. Farm equipment
What term is used to reference a specific tract of land?
A. Bundle
B. Parcel
C. Chattel
D. Riparian
B. Parcel
A tenant leased a small home under a one-year
lease. Without consulting his landlord, the tenant installed awnings over the home’s front windows to keep the sun away from delicate hanging plants. What is the outcome?
A. By law, the tenant’s landlord must reimburse the tenant before the rental period is over.
B. Because of their permanent nature, the awnings are considered personal property.
C. The awnings have become part of the real estate and cannot be removed.
D. The awnings are removable trade fixtures.
C. The awnings have become part of the real estate and cannot be removed.
The owner of a large farm has been approached by a gas-drilling company. What rights does the company wish to buy?
A. Riparian rights
B. Subsurface rights
C. Air rights
D. Littoral righrs
B. Subsurface rights
What are manufactured, permanent additions to land called?
A. Chattels
B. Parcels
C. Improvements
D. Trade Fixtures
C. Improvements
How are properties that border water often priced?
A. By the acre
B. Per square foot
C. By the front foot
D. Per square yard
C. By the front foot
When furnishing a beauty salon, the hairdresser installed three shampoo basins, four large plate glass mirrors, and custom workstation counters. The lease is ready to expire. What can the hairdresser legally remove?
A. Everything but the shampoo basins, because they are attached to the plumbing
B. Only the mirrors, and then only if the holes in the walls are repaired
C. Everything
D. Nothing, because all the items became fixtures when they were attached.
C. Everything
- The owners are building a new enclosed front
porch on their home. The lumber dealer with whom, they are contracting has just unloaded a truckload of lumber to be used to build this porch. What is the status of the lumber at this point?
A. Personal property
B. Real estate
C. A fixture
D. A trade fixture
A. Personal property
When the new front porch is completed, what BEST describes the lumber that the dealer originally delivered?
A. Chattel
B. Real estate
C. Personalty
D. A trade fixture
B. Real estate
How does personal property differ from real property?
A. Variety
B. Mobility
C. Adaptation
D. Improvements
B. Mobility
What is a new furnace recently installed in the basement of the home considered?
A. A trade fixture
B. A fixture
C. Chattel
D. A partition
B. A fixture
A dispute has arisen as to whether an item should have been removed by the seller who said it was personal property. The buyer said that it was real property and it should have remained. The court is asked to consider whether the item was a fixture or personal property. What is one factor that will determine that it is real property?
A. The opinion of the person who purchased the real estate to which the item was attached
B. The opinion of the person who attached the item
C. How easily it can be moved or removed
D . The way that the item was attached to the real estate
D . The way that the item was attached to the real estate
The railroad sold air rights for the construction of a building over its tracks. What rights, if any, does the railroad have to use the tracks?
A. The trains can continue to use the tracks as they have been.
B. The trains are not permitted to freely use the tracks.
C. The trains may operate only with the permission of the building owners.
D. The trains may continue to operate unless they create a noise hazard.
A. The trains can continue to use the tracks as they have been.
A farmer owns land on which oil has been discovered by a drilling company. Based on these facts alone, who owns the oil?
A. If the farmer has not previously conveyed the mineral rights, the farmer owns the oil.
B. The drilling company owns the oil by finder’s rights.
C. Both the property owner and the oil company own rights to the oil jointly.
D. The underground oil is a littoral asset and may be subject to government ownership.
A. If the farmer has not previously conveyed the mineral rights, the farmer owns the oil.
Under which of the following conditions, if any, can a mobile home be sold as real estate?
A. If the mobile home is appraised for more than $50,000.
B. If the mobile home has been situated at the rented space for more than two years.
C. If the mobile home is permanently atrached to the land by an approved foundation.
D. Under no conditions, as a mobile home is mobile and cannot be sold as real estate
C. If the mobile home is permanently atrached to the land by an approved foundation.
What rights does an owner of an oceanfront property possess?
À. Emblements
B. Avulsions
C. Littoral rights
D. Chattel rights
C. Littoral rights
- Which of the following does NOT include ownership rights?
A. Buildings located on the property estate
B. Air space above the property
C. Minerals found under the property
D. Navigable river running through the property
D. Navigable river running through the property
