A business owner sells the back half of his lot to a developer. The developer is granted an Easement Appurtenant to cross the business owner's property to get to the street. The business owner's property is the____________. - ANSWER-Servient Tenement
All of the following refer to legal descripti...
A business owner sells the back half of his lot to a developer. The developer is granted
an Easement Appurtenant to cross the business owner's property to get to the street.
The business owner's property is the____________. - ANSWER-Servient Tenement
All of the following refer to legal descriptions except:
Select one:
A. U.S. Government Survey
B. Topographical Lines
C. Metes and Bounds
D. Lot and Block - ANSWER-Topographical Lines
Which is larger than a section?
Select one:
A. 60 acres
B. 1 square mile
C. 24 million square feet
D. township - ANSWER-township
A survey that refers to fractional sections, townships and ranges is a legal description
by:
Select one:
A. Metes and bounds
B. Recorded map
C. Government Rectangular Survey System
D. None of the above - ANSWER-Government Rectangular Survey System
The fact that the geographic location of real estate is fixed and can never be changed is
a physical characteristic of land known as:
Select one:
A. Immobility
B. Indestructibility
C. Uniqueness
D. Situs - ANSWER-Immobility
Metes and Bounds refer to:
Select one:
A. Measurement by angles and distances from a specific point
B. Lines running north and south
,C. Area 24 miles square
D. Emblements - ANSWER-Measurement by angles and distances from a specific point
A township contains 36 sections. Each section is a square mile and contains 640 acres;
therefore, a section of land divided several times into quarters would contain
Select one:
A. 160 acres
B. 640 acres
C. 320 acres
D. A township - ANSWER-160 acres
People's preference for a certain area is known as:
Select one:
A. Improvements
B. Uniqueness
C. Scarcity
D. Situs - ANSWER-Situs
All of the following are common ways to measure land except:
Select one:
A. Square foot
B. Metes and bounds
C. Frontal footage
D. Acre - ANSWER-Metes and bounds
A charge, claim or liability that someone has on the title of someone else's property is
a(an) _______________________.
Select one:
A. Estate
B. Implement
C. Encumbrance
D. Fixture - ANSWER-Encumbrance
Zoning laws are usually regulated by the
Select one:
A. state government
B. federal government
C. towns and cities (municipal government)
D. courts - ANSWER-towns and cities (municipal government)
The Lead Based Hazard and Reduction Act requires all real estate licensees to make
certain lead disclosures on properties built before 1980.
,Select one:
True
False - ANSWER-False
James dies with no heirs and no will. His property will go to the State according to the
law of
Select one:
A. Police Powers
B. Eminent Domain
C. Variance
D. Escheat - ANSWER-Escheat
After the passing of SARA in 1986, it was determined that landowners were responsible
for environmental hazards or spills on property regardless of knowledge of such a
defect.
Select one:
True
False - ANSWER-False
A buffer zone is a strip of land which generally separates one land use from another.
Select one:
True
False - ANSWER-True
Eminent Domain and Escheat refer to the same basic principle which involves the
government's right to take private property for public use.
Select one:
True
False - ANSWER-False
The purpose of an Environmental Impact Study is to determine the impact of a new real
estate development on the resources of a community. The resulting report could result
in developmental alterations or even denial of a project.
Select one:
True
False - ANSWER-True
All of the following are government rights in land except
Select one:
A. Property Taxation
B. Eminent domain
C. Escheat
D. Deed Restrictions - ANSWER-Deed Restrictions
, Strict liability means that
Select one:
A. An owner is responsible to an injured party without excuse
B. Each owner is personally responsible for damages as a whole
C. Liability extends to people who have owned the site in the past
D. An owner is not responsible to an injured party - ANSWER-An owner is responsible
to an injured party without excuse
Police-power controls include all of the following EXCEPT
Select one:
A. City plan specifications
B. Building codes
C. Zoning
D. Deed restrictions - ANSWER-Deed restrictions
John's property was taken away from him for public use under Eminent Domain. The
value placed on the property he is to receive is $276,000. This value is the property's:
Select one:
A. Book Value
B. Eminent Domain Value
C. Going Concern Value
D. Condemnation Value - ANSWER-Condemnation Value
Which of the following would not apply to the definition of Market Value?
Select one:
A. Requires a reasonable time on the market
B. Buyers are not motivated
C. Sellers and buyers are informed parties
D. The seller is not under pressure to sell - ANSWER-Buyers are not motivated
Depreciation generally applies to
Select one:
A. The building only
B. The land only
C. Both the land and the building
D. The next income of the building - ANSWER-The building only
In appraising a special-purpose building such as a post office, the most reliable
approach to an indication of its value would generally be the
Select one:
A. Cost approach
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