Exam (elaborations)
ROCKWELL REAL ESTATE QUESTIONS AND ANSWERS
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ROCKWELL REAL ESTATE QUESTIONS AND ANSWERS
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Name: Score:44 Multiple choice questions
Definition 1 of 44
The person entitled to possession of the property during the measuring life.
Estate
Personal Property
Measuring Life
Life Tenant
Definition 2 of 44
is fee title without conditions or qualifications of any kind.
Title is presumed to be conveyed in fee simple absolute unless the grantor makes it clear that
she intends otherwise.
Fee simple qualified
Personal property
Fee simple absolute
Fee simple determinable
Definition 3 of 44
In a real estate transaction, items that are legally considered fixtures—part of the real property
—will pass to the buyer by deed, unless the parties specifically agree to exclude them from the
sale.
The items that are legally classified as personal property aren't part of the real estate, so the
deed won't automatically transfer their ownership to the buyer.
Relationship test
Periodic estate
Possessory interests
Fixtures vs Personal Property
,Definition 4 of 44
An estate (a possessory interest) is the right to possess and have exclusive use of real
property, either now or in the future. If someone's interest in a piece of real property doesn't
allow exclusive use and possession of the property, it's not an estate.
interest
freehold estates
personal property
estate
Definition 5 of 44
A leasehold estate gives a tenant exclusive possession and use of the property for a limited
period. The tenant does not have title.
1.Estate of Years
2. Periodic Estate
3. Estate At Will
4. Estate at Sufference
Leasehold Estate and its 4 Types
Periodic Estate
Method of attachment test
fee simple estate
Definition 6 of 44
With the adaptation test, the question is whether the item has been specially adapted to the
realty in some way, or was specially designed for it.
Such as the pews in the church will be considered as fixtures even thought they are not
attached to the floor in anyway
Attachment test
Intention test
Adaptation test
Relationship test
,Definition 7 of 44
if the prohibited act or event occurs, the person who imposed the limitation (or his heirs) will
regain title only if he takes legal action to do so.
fee simple determinable
fee simple absolute
fee simple subject to condition subsequent
life estate
Definition 8 of 44
In connection with a life estate, a future interest held by the grantor or her heirs.
Periodic Estate
Reversion
Remainder
Life Estate
Definition 9 of 44
Metes and Bounds - Local. Describes the property location in the location itself
Government Survey method - Used to identify the location of the property in reference to the
united states survey map. Meridian and Baselines, Range and township lines
The lot and black method is the standard method for describing downs and cities. - Map
showing lots and blocks in the subdivision is called a plat or a plat map.
intention test
freehold estates
3 methods of legal description
subjacent support
, Definition 10 of 44
The support that piece of land receives from the land adjacent to it. Compare Subjacent
Support.
Subjacent Support
Personal Property
Measuring Life
Lateral Support
Definition 11 of 44
Term Tenancy
An estate for years is a lease for a fixed term, which ends automatically when the term is over.
The parties may mutually agree to end the tenancy sooner by surrender.
An estate for years is assignable to a third party.
3rd Type of Leasehold Estate is called an Estate Will also known as
4 Tests in determining whether something is attached to the property or not in the court
of law
Intention test
An Estate of Years is a type of Leasehold Estate which is also known as:
Definition 12 of 44
Lot and block method
fee simple qualified, also known as a qualified fee estate, a fee simple defeasible, or a
fee simple conditional.
An Estate of Years is a type of Leasehold Estate which is also known as:
A developer building on vacant land within city limits will describe the properties he
builds using the
emblements
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