Chapter 5 real estate

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Chapter 5 real estate
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1

Accretion

an increase of land cause by the gradual depositing of solid material by the action of water

2

Air rights

belongs to the owner of the land below

3

alluvion

solid material depsoited by a body of water

4

avulsion

sudden change of the course of a stream

5

bundle of rights

possession control, enjoyment and so on

6

chattels

tangible personal property

7

corporeal

tangible

8

devise

leave real estate to someone by will

9

emblements

annual crops

10

erosion

the wearing away of land usually to to the action of wind or water

11

fixture

once personal property, now real estate

12

hereditament

anything that can be inherited

13

improvment

manufactutured attachment to the land

14

incorporeal

intangible

15

land

the earth, including air abov

16

littoral rights

land bordering bodies of water affected by tides

17

mineral rights

subsurface rights

18

parcel

specific tract of land

19

personal property, personalty

everything that is not real property

20

real estate

land, improvements and bundle of rights

21

real property, realty

symonyms for real estate

22

reliction

creation of dry land by the gradual withdrawal of water

23

riparian rights

use of water by adjoining landowners

24

subsurface rights

ownership of minerals oil and so on

25

trade fixture

removable by tenants

26

Real property is often referred to as ta bundle of rights. all of the following are included in the traditional bundle of rights except the right of

a. of exculusion

b. to use the property for private purposes, legal or otherwise

c. of enjoyment

d. to sell or otherwise convey the property

b. to use the property for private purposes, legal or otherwise

27

Which of the following is NOT included in the definition of real estate

a. minerals in the earth

b. the air above the group up to infinity

c. trees

d. chattels

d. chattels

28

The owner of a large farm may lease to a gas drill company his

a. riparian rights

b. subsurface rights

c. air rights

d. littoral rights

b. subsurface rights

29

Manufactured, permanent additions to land are called

a. chattels

b. parcels

c. improvements

d. trade fixtures

c. improvements

30

One would have to look at a federal map to identify

a. riverfronts

b. major lakes

c. navigable waterways

d. uplands

c. navigable waterways

31

Molly Malloy owns land along the Passaic River. As a result, Molly may possess certain

a. riparian rights

b. subsurface rights

c. air rights

d. solar rights

a. riparian rights

32

Which of the following items would Not be part of real estate

a. fenes

b. permanent buildings

c. farm equipment

d. growing trees

c. farm equipment

33

Steve Jackson is a tenant in a small house under a one year lease. Without consulting his landlord, Jackson installs awnings over the buildings front windows to keep the sun away from some delicate hanging plants. Which of the following is true.

a. by law, Jacksons landlord must pay for the awnings before the rental period is over.

b. because of there permanent nature, the awnings are considered to be 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

34

When the salon moved in, the hairdresser installed three shampoo basins, four large plate glass mirrors, and custom workstation counters. Just before the expiration of the lease, the hairdresser has the right to remove

a. everything but the shampoo basins, bc they are attached to the plumbing

b. only the mirrors and then only if holes in the walls are repaired

c. all of the items mentioned above

d. nothing, because all the items became fixtures when they were attached,

c. all of the items mentioned above

35

Fred and Celia Evers 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 the porch in front of their house. At this point, the lumber is considered

a. a chattel

b. real estate

c. a fixture

d. a trade fixture

a. a chattel

36

When the Evereses new front porch is completed, the lumber that the dealer originally delivered will be considered

a. a chattel

b. real estate

c. personalty

d. a trade fixture

b. real estate

37

Personal property differs from real property in its

a. variety

b. mobility

c. adaptation

d. improvements

b. mobility

38

A functioning furnace in the basement of a home would be considered

a. a trade fixture

b. fixture

c. chattel

d. severance

b. fixture

39

Courts apply four basic tests to determine whether an item is a fixture or personal property. these include all of the following except

a. the way in which the item is attached to the real estate.

b. the intention of the person who attached the item

c. the way in which the items has been adapted to the real estate.

d. the opinion of the person purchasing the real estate to which the item is attached.

d. the opinion of the person purchasing the real estate to which the item is attached.

40

After a railroad sells air rights for construction of a building over its tracks, trains usually can

a. operate normally

b. no longer run under the building

c. operate only with permission of the building owners.

d. operate unless they create a noise hazard

a. operate normally

41

Steve owns land on which oil is discovered by a drilling company. Based on these facts alone, which of the following statement is true?

a. if steve has not previously conveyed the mineral rights, he owns the oil

b. the drilling company owns the oil by finders rights

c. both steve 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 steve has not previously conveyed the mineral rights, he owns the oil

42

A mobile home can be sold as real estate if it is

a. appraised at 50k or more

b. located in rented space for more than two years

c. permanently attached to the land by a foundation

d. more than 15 ft long

c. permanently attached to the land by a foundation

43

The rights of the owner of a property along the ocean are known as

a. emblements

b. avulsions

c. littoral rights

d. chattel rights

c. littoral rights

44

Ownership rights for real estate do not include

a building located on the property

b. air space above the property

c. minerals found under property

d. navigable rivers running through the property

d. navigable rivers running through the property