Exam (elaborations)
Real Estate Property Ownership questions with answers
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Real Estate Property Ownership questions with answers
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Real Estate Property OwnershipAppurtenant - correct answer ✔✔A right, privilege, or improvement belonging to, and passing with, the
land.
Opposite of erosion - correct answer ✔✔accretion
Rights in real property that are held for less than a lifetime are called - correct answer ✔✔Personal
Property
Real Property is held - correct answer ✔✔for a lifetime or longer
The rights of a tenant under a lease of real property are classified as - correct answer ✔✔personal
property
Feudal System - correct answer ✔✔the system where individuals can own land for their own lifetime but
cannot pass it on to heirs
Allodial System - correct answer ✔✔the system where individuals can own land for their own lifetime as
well as pass it on to heirs
Estate in land - correct answer ✔✔the degree, quantity, nature and extent of one's interest in land
Two types of Estates in Land - correct answer ✔✔Freehold, less than freehold
Freehold - correct answer ✔✔"ownership" interest in property
held for a lifetime or longer
Estate Less than Freehold - correct answer ✔✔"Rental" interest in property
, held for less than a lifetime
"Personal Property"
An individuals rights in land are limited by the rights of - correct answer ✔✔the government
Eminent Domain - correct answer ✔✔the gov't's right to take land for the public good
Condemnation - correct answer ✔✔the process used to acquire property under the right of eminent
domain
Police Power - correct answer ✔✔the right of the govt to make reasonable rules for the use of land
Escheat - correct answer ✔✔the right of the state to assume ownership of property when the owner
dies without a valid will or heirs or when abandoned
Property - correct answer ✔✔The "rights of ownership"
Rights of Ownership - correct answer ✔✔Use, possess, enjoy and dispose
Real Property - correct answer ✔✔Land, all that is permanently attached to it, and the legal rights assoc
with it, is collectively referred to as Real Property
An item of personal property may become a fixture by - correct answer ✔✔attachment
adaptation
agreement
Trade Fixture - correct answer ✔✔Considered personal property
Real property is conveyed by means of a - correct answer ✔✔deed
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