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2024 COLIBRI REAL ESTATE CH.2-7 EXAM WITH CORRECT ANSWERS
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2024 COLIBRI REAL ESTATE CH.2-7 EXAM WITH CORRECT ANSWERS
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2024 COLIBRI REAL ESTATE CH.2-7EXAM WITH CORRECT ANSWERS
A tenant agrees to rent an apartment for six months for $700 a month. At
the end of the six months, the lease automatically renews for another six
months. What does this situation describe?
A.) estate for years
B.) holdover tenancy
C.) periodic tenancy
D.) tenancy at will - CORRECT ANSWERS-C.) periodic tenancy
*death terminates tenancy at will*
R agrees to rent an apartment from K for three months for $500 a month. He
moves in January 1 and moves out March 31 without giving notice. What
type of leasehold estate is this?
A.) periodic tenancy
B.) tenancy at sufferance
C.) tenancy at will
D.) tenancy for years - CORRECT ANSWERS-D.) tenancy for years
what is land legally considered to include? what does an owner have rights
to? - CORRECT ANSWERS-- *surface* of the earth, *subsurface* of the center
of the earth, & *air* above the land (e.g. mineral rights, water, etc.)
^ owner has rights to all of that within property's boundaries
real estate - CORRECT ANSWERS-actual *physical land* (aka unimproved
land or raw land) and its *permanent attachments*, both natural & man-
made
fixture - CORRECT ANSWERS-An item of personal property that has been
converted to real property by being permanently affixed to the realty. (e.g. a
house, shed, fence, patio)
a major fixture that significantly increases value of the property - CORRECT
ANSWERS-an *improvement* (e.g. a building)
how do fixtures become real property? - CORRECT ANSWERS-- *physically
attached* to real property
, - attached *conceptually* bc of a *close association* w/ real property (ex:
keys)
- through process of *adoption* (ex: custom-made curtains for unusual
window size or wall-to-wall carpeting)
- *agreement* between parties involved (ex: landlord & tenant)
- its removal would *damage* the property
- *intention* of person affixing personalty to real estate
Fixtures can be _____________ from the land and so revert back to personal
property through the process of ______________. (e.g. a chandelier is removed
from the ceiling) - CORRECT ANSWERS-detached, severance
Real property is __________ (e.g. your sofa, microwave, etc.), while real estate
is not. - CORRECT ANSWERS-moveable
natural attachments - CORRECT ANSWERS-plants growing on the land called
*fructus industrials* (planted) & *fructus naturals* (naturally grows)
Emblements are considered _____ property. - CORRECT ANSWERS-personal
A rose bush growing on the land is part of ________ property, but once the
flowers are picked, they become ________ property. - CORRECT ANSWERS-
real, personal
doctrine of emblements - CORRECT ANSWERS-A rule that allows a tenant
farmer to *re-enter* the land to harvest crops that were planted by the
tenant farmer even *after the land has been sold* to a new owner.
Real vs. Personal Property
1.) Keys
2.) A tree, Cutting a tree down for firewood, Using wood from one of your
trees to build a deck
3.) Bathtub
4.) Built-in Dishwasher
5.) Stove
6.) Custom curtain or drapes
7.) Chandelier homeowner bought & attached to dining room ceiling
8.) Bookshelves attached to wall
9.) Commercial oven in restaurant
10.) A leased water heater tank
11.) Fence that encloses yard
12.) Venetian blinds on windows
13.) A TV attached to a bracket on living room wall
14.) The bracket for TV mounted on living room wall
15.) Washer & dryer hooked up by tenant for his use
16.) Unattached kitchen island
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