Real property

Question 1.1. Real property applies to: (Points : 5)

trees
homes
land
All of the above

Question 2.2. A liquidated damage provision in a contract is enforceable, provided it does not result in a penalty. (Points : 5)

True
False

Question 3.3. A fixture is classified as personal property. (Points : 5)

True
False

Question 4.4. Identify the shared common elements of a condominium development. (Points : 5)

Parking lot
Swimming pool
Sidewalk
All of the above

Question 5.5. It is not necessary for real estate contracts to be witnessed, notarized, and recorded. (Points : 5)

True
False

Question 6.6. In order to own real property in fee simple absolute, which of the ownership rights listed below must be present?

I. Right of disposition and right of exclusion
II. Conditional right of possession and disposition
III. Right of use and right of possession (Points : 5)

I. and II. only
II. and III. only
I. and III. only
All of the above

Question 7.7. In order to obtain title to property by adverse possession, a person must prove that possession was: (Points : 5)

exclusive
consensual
continuous
A and C

Question 8.8. A real estate contract should provide for proration of: (Points : 5)

prepaid taxes
purchase price
prepaid insurance
all of the above
two of the above

Question 9.9. An easement may be:I. Appurtenant

II In gross

III Prohibitive

(Points : 5)

I and II
II and III
all of the above
none of the above

Question 10.10. A real estate contract can successfully be avoided when: (Points : 5)

there is a mutual mistake by seller and buyer
the court rules that the seller was insane when he made the sale
the buyer bought the property when he was under 18, but now seeks to avoid it two months after turning 18
all of the above

Question 11.11. Under the law of adverse possession, it is possible to acquire title to another’s land without paying for it. (Points : 5)

True
False

Question 12.12. Riparian rights refers to a requirement that all owners of riparian lands (Points : 5)

use the water equally with other riparian owners
share the water equally with other riparian owners
both a and b
none of the above

Question 13.13. All of the following are methods of acquiring ownership to real property except: (Points : 5)

devise
dower
sale
adverse possession

Question 14.14. Sonny and Cher have been married for forty years and live in Nevada, a community property state. Before their marriage, Sonny’s only property was a winery in Parumph, Nevada, worth $1 million, while Cher had $5 million worth of property, including a ranch in northern Nevada. During their marriage, Sonny and Cher accumulated an additional $6 worth of property, including $3 million worth of property Sonny inherited from his uncle. The TOTAL amount of community property held by Sonny and Cher is: (Points : 5)

$6 million
$3 million
$7 million
$12 million
$11 million

Question 15.15. Which of the following environmental acts has contributed the most to identifying and correcting hazardous pollutants on real property? (Points : 5)

Emergency Planning and Community Right-to-Know Act (EPCRA)
National Environmental Policy Act (NEPA)
Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA)
Toxic Substances Control Act (TSCA)

Question 16.16. Personal property includes all of the following except: (Points : 5)

installed pipes
lawnmower
refrigerator
furniture

Question 17.17. Which of the following examples is not a license? (Points : 5)

Grant to a friend to hunt annually on private property
Land owner lets political group hold an Election Day celebration
Store permits customers to shop on its premises
Subdivision gives a permit to a homeowner to build a shed on his property

Question 18.18. A real estate broker is not required to make disclosures of ________. (Points : 5)

all offers for purchase
financing issues
tax consequences
the seller’s willingness to accept a lower price

Question 19.19. It is mandatory that tenants in common have equal shares in the property. (Points : 5)

True
False

Question 20.20. ________ provide(s) ethical guidelines for paralegals. (Points : 5)

The American Bar Association
The National Association of Legal Assistants
State bar associations
all of the above

Question 21.21. On January 5, 2003, an owner files a notice of commencement per state statute for construction of his new home. The framing subcontractor submits a notice to owner and begins work on April 1, 2003, and completes the job on May 15, 2003. The owner refuses to pay the subcontractor. The subcontractor files a lien on July 1, 2003. On what date is the subcontractor’s mechanic’s lien effective? (Points : 5)

January 5, 2003
April 1, 2003
May 15, 2003
July 1, 2003

Question 22.22. A joint tenancy requires all of the following “unities” except the unity of: (Points : 5)

title
interest
time
severance

Question 23.23. If an individual fails to pay a contractor for remodeling services, a(n) _______________ may be placed on the remodeled property. (Points : 5)

intangible tax lien
mortgage lien
fixture lien
mechanic’s lien

Question 24.24. Barney purchased 40 acres of land from Fred. Unknown to both parties, under the surface of the land was a rich vein of gold ore that extended beneath neighboring land owned by Wilma. The gold ore is owned at least in part by: (Points : 5)

Barney, Fred, and Wilma
Barney and Wilma
Wilma and Fred
Barney and Fred

Question 25.25. Private restrictions on the use of real property are enforceable. (Points : 5)

True
False

Question 26.26. A real estate broker owes the following duties:I Confidentiality
II Disclosure
III Accounting

(Points : 5)

I and II
II and III
all of the above
none of the above

Question 27.27. Estoppel letters benefit purchasers of real property. (Points : 5)

True
False

Question 28.28. An attorney may represent two parties to a real estate transaction in which circumstances? (Points : 5)

Both parties are made aware of potential conflict
Both parties consent to the dual representation after full disclosure
Both parties consent to the dual representation, and the attorney believes that
Both a and b

Question 29.29. The general rule today is that anything that changes the nature of real estate, even an improvement, will be considered waste. (Points : 5)

True
False

Question 30.30. Police powers give federal, state, or local governments the right to __________. (Points : 5)

condemn property for a county sheriff’s new home
grant a license for an individual to hand out political flyers at a supermarket
pass zoning ordinances
offer a profit à prendre for removal of timber from private property

Question 31.31. Wayne and Mitch own adjoining parcels of land. Wayne allowed Mitch to install pipe across his property for the purpose of pumping spring water onto Mitch’s property. Mitch’s use of Wayne’s property is: (Points : 5)

an easement in gross
an easement appurtenant
a license
a profit

Question 32.32. An estate for years may be a lease, but not all leases are estates for years. (Points : 5)

True
False

Question 33.33. Under the prior appropriation theory, the first person to appropriate water for a beneficial use has priority over later users. (Points : 5)

True
False

Question 34.34. The owner of real estate may sell her air rights to one person and her mineral rights to another person. (Points : 5)

True
False

Question 35.35. Which of the items listed below are considered fixtures?

(Points : 5)

Built-in bookshelves
Wooden deck
Shed on concrete pad
all of the above

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True ……………………..

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