Real Estate Montana final exam Questions and Correct Answers | Latest Update
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Course
Real Estate
Institution
Real Estate
personal property that, by its attachment to real property, is regarded as real estate is
called
-:- a fixture
An object that is affixed to commercial property and used to generate income is called a
-:- trade fixture
real property given in a will is referred to as a
-:- devise
Joe and K...
Real Estate Montana final exam Questions and
Correct Answers | Latest Update
personal property that, by its attachment to real property, is regarded as real estate is
called
✓ -:- a fixture
An object that is affixed to commercial property and used to generate income is called a
✓ -:- trade fixture
real property given in a will is referred to as a
✓ -:- devise
Joe and Kathy want to purchase a home in a neighborhood where they are familiar with the
school system, and know the teachers in the public school that their son will attend. Their
interest in this type of property is called
✓ -:- area preference
Real estate is considered to be immobile and indestructible. Another physical characteristic
force them to reimburse the city for the cost of the cleanup as a condition of moving back
into the home. Can the city do this?
✓ -:- Yes, because the Slobbes property right of possession is subject to
the rules established by the city zoning laws
If a person has complete control over their property, and the ownership in the property is
not defeasible, what interest does the person have in the property?
✓ -:- fee simple estate
Patricia held fee simple title to a vacant lot adjacent to Mt. Olive Church. She wanted to
donate the lot to Mt. Olive, and her attorney prepared a deed conveying all rights of the
vacant lot to the church "...so long as the lot is used for church-related purposes." After the
completion of the gift, the church will own a
✓ -:- determinable fee estate
Typically, owners of property in a residential subdivision take title subject to certain
covenants, conditions, and restrictions (CC&Rs). Since ownership of the property is
conditional upon the owner obeying these conditions, the estate held is a defeasible fee with
a condition subsequent. Is this type of estate automatically terminated if the property does
not comply with the CC&Rs?
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