REE Ch. 8 Q'S TEST 2 QUESTIONS WITH ALL CORRECT ANSWERS
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REE Ch. 8 Q\'S
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REE Ch. 8 Q\'S
REE Ch. 8 Q'S TEST 2 QUESTIONS WITH ALL CORRECT ANSWERS
What determines a landowner's water rights?
- Depth of water
- Size of the body of water
- Movement of the water
- Type of water - Answer-Movement of the water
Three people have identical rights but unequal shares in a property, share an...
REE Ch. 8 Q'S TEST 2 QUESTIONS
WITH ALL CORRECT ANSWERS
What determines a landowner's water rights?
- Depth of water
- Size of the body of water
- Movement of the water
- Type of water - Answer-Movement of the water
Three people have identical rights but unequal shares in a property, share an indivisible
interest, and may sell or transfer their interest without consent of the others. What type
of ownership is this?
- Joint tenancy
- Equal ownership
- Tenancy in common
- Estate in severalty - Answer-Tenancy in common
In addition to the land and all of the structures attached to the land, what else is
considered real property?
- The occupants of the structures
- The vehicles housed on the land
- The bundle of rights
- The farm animals residing on the land - Answer-The bundle of rights
A tract of land
- has buildings attached
- cannot be subdivided
- is defined by boundaries
- is not defined by boundaries - Answer-is defined by boundaries
, A pur autre vie life estate
- endures over the lifetime of a third person
- is illegal in New York
- must endure past the life of a third party
- is limited to 10 years in duration - Answer-endures over the lifetime of a third person
Which of the following is the best definition of real estate?
- Land and personal property
- Unimproved land
- Land and everything permanently attached to it
- An ownership interest in land and improvements - Answer-Land and everything
permanently attached to it
Mary and sister Jill jointly hold a parcel of land. The property is held in
- single party
- probate
- co-ownership
- severalty - Answer-co-ownership
When is a plant considered personal property?
- When it is less than 5 feet tall
- When it requires human involvement
- When it is planted by a tenant
- When it has been planted for less than 1 year - Answer-When it requires human
involvement
Which of the following is included in "real estate"?
- Mineral's beneath the earth's surface
- Water on or below the earth's surface
- Structures on the earth's surface
- All of the above - Answer-All of the above
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