Superior Real Estate School UPDATED Exam Questions and CORRECT Answers only
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Course
Superior Real Estate School
Institution
Superior Real Estate School
Superior Real Estate School UPDATED
Exam Questions and CORRECT Answers
only
All of the following are physical characteristics of land except:
A. Indestructibility
B. Uniqueness
C. Immobility
D. Scarcity - CORRECT Answer- D. Scarcity
Under the doctrine of specific performance, the party harm...
Superior Real Estate School UPDATED
Exam Questions and CORRECT Answers
only
All of the following are physical characteristics of land except:
A. Indestructibility
B. Uniqueness
C. Immobility
D. Scarcity - CORRECT Answer- D. Scarcity
Under the doctrine of specific performance, the party harmed by breach of a real estate
contract can ask a judge to force the breaching party to carry out the terms of the contract
rather than order the breaching party to pay monetary damages. Which physical characteristic
of land is the basis for the doctrine of specific performance?
A. Indestructibility
B. Uniqueness
C. Immobility
D. Permanence of Investment - CORRECT Answer- B. Uniqueness
Which of the following is considered to have the greatest impact on the value of a property?
A. Area Preference
B. Permanence of Investment
C. Scarcity
D. Uniqueness - CORRECT Answer- A. Area Preference
The concept by which land would increase automatically along a river or stream is known as:
,A. Accretion
B. Littoral Rights
C. Avulsion
D. Reliction - CORRECT Answer- A. Accretion
The owner of a house wants to fence the yard for a dog. When the fence is erected, the
fencing materials are converted to real estate by:
A. Severance
B. Annexation
C. Immobility
D. Indestructibility - CORRECT Answer- B. Annexation
A deed conveyed ownership to a grantee "so long as the existing building on the property is
not destroyed." Following the transfer, the original grantor has what type of interest?
A. Life Estate
B. ongoing ownership in the property that lasts as long as the condition
C. Fee Simple Estate
D. Reversionary Estate - CORRECT Answer- D. Reversionary Estate
A woman conveys a life estate to her son-in-law and stipulates that upon his death the estate
will pass to her grandson. The grandson has an:
A. Estate in Reversion
B. Estate in Remainder
C. Estate Pur Autre Vie
D. Estate for the life of another - CORRECT Answer- B. Estate in Remainder
A person who acquired ownership that can be inherited, with the provision "that the land
must always be used for recreational purposes," has:
,A. a fee simple absolute estate
B. a defeasible fee
C. a fee simple to a condition subsequent estate
D. an estate that cannot be sold - CORRECT Answer- B. a defeasible fee
A brother and sister bought a commercial building and took title as joint tenants with right of
survivorship. The brother died. The sister now owns the building:
A. as a joint tenant with right of survivorship with her brother's heirs
B. in severalty
C. as a tenant in common with her brother's heirs
D. as a life tenant with her brother's heirs having remainder interests - CORRECT Answer- B.
in severalty
Co-owners of a fee simple interest in a small office building are neither related to nor a
creditor to each other. One owner dies intestate. The surviving owner would become the sole
owner of the property under which of the following rights?
A. adverse possession
B. reversionary interest
C. survivorship
D. foreclosure - CORRECT Answer- C. survivorship
Three joint tenants with rights of survivorship own a parcel of land. One owner sells his
interest to a long-time friend. After the conveyance, the remaining original owners:
A. become tenants in common with each other
B. become tenants in common with each other and the newest owner
C. become joint tenants with the newest owner
D. remain joint tenants with each other - CORRECT Answer- D. remain joint tenants with
each other
, The owner of a condominium unit learns that a neighbor has failed to pay his condominium
association dues. If the neighbor does NOT pay the dues:
A. a lien can be filed against the condominium complex
B. a lien can be filed against the neighbor's unit
C. a lien can only be filed against the common areas of the condominium
D. the taxing authority can order the condominium be dissolved - CORRECT Answer- B. a
lien can be filed against the neighbor's unit
The severalty owner of a parcel of land sells it. The buyer insists that the owner's wife also
sign the deed. The purpose of obtaining the wife's signature is to:
A. terminate any rights the wife may have in the property
B. defeat any curtsey rights
C. provide evidence that the owner is married
D. subordinate the wife's signature to the buyer - CORRECT Answer- A. terminate any rights
the wife may have in the property
Vonda Lee and William purchased a home together in 2003 with the deed simply listing both
of them as "grantees" without specifying how they were to hold title. They married each other
in early 2004. How do they now likely hold title to the house purchased in 2003 if they have
not made any other adjustments to their deed?
A. tenancy by the entirety
B. tenancy in severalty
C. joint tenancy
D. tenancy in common - CORRECT Answer- D. tenancy in common
Which of the following statements is true? I. A life estate is a freehold estate. II. It is possible
to have a freehold estate and a non-freehold estate on the same property at the same time.
A. I only
B. II only
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