Exam (elaborations)
Real Estate Property Ownership Exam Prep with complete solutions
- Course
- Institution
Real Estate Property Ownership Exam Prep with complete solutions
[Show more]
Content preview
Real Estate Property Ownership ExamPrep
Placing two or more contiguous units under common ownership for the purpose of increasing the overall
value of the units is known as:
a) Reversion
b) Plottage
c) Severalty Ownership
d) Disassemble - correct answer ✔✔b) Plottage
"Of indefinite duration" is a characteristic which is particularly descriptive of an:
a) Estate Less-Than-Freehold
b) Estate From Period-To-Period
c) Estate of Inheritance
d) Estate For Years - correct answer ✔✔c) Estate of Inheritance
A charge imposed against real property to provide security for the performance of some type of act,
usually to provide incentive for, or to satisfy a payment is a:
a) Promissory Note
b) Deed
c) Lien
d) Mortgage - correct answer ✔✔c) Lien
Homeowner Ruth acquired the ownership of land that was deposited by a river running through her
property by:
a) Avulsion
b) Succession
c) Reliction
,d) Accretion - correct answer ✔✔d) Accretion
Under which of the following types of liens can both the personal property and the real property of the
debtor be sold to pay the debt?
a) Judgment Lien
b) Mechanic's Lien
c) Real Estate Tax Lien
d) Assessment Lien - correct answer ✔✔a) Judgment Lien
In order to comply with the regulations of the state Housing Law, a person should seek the issuance of a
building permit from:
a) the Local Department of Building and Safety
b) the California Department of Urban Renewal
c) the California Department of Real Estate
d) the nearest office of the Department of Housing and Comunity Development - correct answer ✔✔a)
the Local Department of Building and Safety
Which of the following would be paid before any homestead exemption is applied?
a) None of the other options are correct
b) Property taxes, Deed of Trust, and any Mechanic's Liens
c) Deed of Trust
d) Property taxes - correct answer ✔✔b) Property taxes, Deed of Trust, and any Mechanic's Liens
What is the holder of a leasehold estate called?
a) The Lessor
b) A Reversioner
c) A Remainderman
d) The Lessee - correct answer ✔✔d) The Lessee
A portion of Joe's building was inadvertently built on Ginny's land. This is called an:
,a) Easement
b) Encroachment
c) Accretion
d) Avulsion - correct answer ✔✔b) Encroachment
An easement on real estate would terminate if the holder of the dominant tenement recorded a:
a) Quitclaim Deed
b) Lis Pendens
c) Deed of Reconveyance
d) Notice of Non-Responsibility - correct answer ✔✔a) Quitclaim Deed
The DRE attorneys and a licensee reach an agreement as to the facts of the case and the penalty, this is
called:
a) Mediation Order
b) Settlement Stipulation
c) Summary Order
d) Informal Hearing Agreement - correct answer ✔✔b) Settlement Stipulation
Personal property includes all of the following EXCEPT:
a) Fixtures
b) Chattels
c) Fructus Industriales
d) Emblements - correct answer ✔✔a) Fixtures
Stephen signs a lease whereby he has to pay the property taxes on the rental property, this is called:
a) Gross Lease
b) Percentage Lease
c) Sandwich Lease
d) Net Lease - correct answer ✔✔d) Net Lease
, A development company owned property that the city wanted so that it could extend the runways at the
municipal airport. If the company refuses to negotiate with the city, then the city may acquire the
property by:
a) Confiscation
b) Descent and Distribution
c) Escheat
d) Eminent Domain - correct answer ✔✔d) Eminent Domain
A family rents a vacation home from July 5, 2005 to January 1, 2006. Their tenancy would properly be
classified as:
a) Estate For Years
b) Fee Simple Estate
c) Periodic Tenancy
d) Month-To-Month - correct answer ✔✔a) Estate For Years
An easement appurtenant
a) Can't be Terminated
b) May be Terminated by the Servient Tenement
c) May be Terminated by the Dominant Tenement
d) Will be Terminated if Abandonded by the Servient Tenement - correct answer ✔✔c) May be
Terminated by the Dominant Tenement
Which of the following is an encumbrance?
a) Mortgages
b) All Other Options are Correct
c) Liens
d) Easements - correct answer ✔✔b) All Other Options are Correct
What does the term "short rate" refer to?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Sakayobako30. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $21.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now