Real Estate License Practice Test – Property and Ownership Laws
When one landowner uses the land of another for a specific purpose, it is known as a(n):
The most common types of easements are access, utility, and drainage easements.
Which of the following is NOT considered realty?
“Realty” is defined as land and everything permanently attached to it. Bricks mortared together in a wall are considered permanently attached to the land, whereas free lumber is not as it could easily be moved.
Mr. Smith has died. By what rights does his wife lay claim to his property?
Dower rights grant a wife (or child) interest in her husband’s estate. Curtsey laws recognize the rights of a husband in the event of his wife’s death.
A person has been using another person’s land for 30 years without permission. They may have a legal claim to the land by which means of ownership?
Adverse possession laws are very old laws found in every state. The idea behind this type of possession is that if the true owner is so disinterested in the land they own that they allow someone else to use it for a long period of time (depending on the state, 7-40 years), the person using it has rights based on the fact they were treating the property as their own.
A condominium is legally defined as:
Condominium is a legal term that describes land ownership. In a condominium, a person has a title and exclusive ownership to a piece of property (typically a house or unit), and shared access to other community areas. This may include parks, pool areas, and parking lots, but these areas do not define what a condo is, nor are condominiums required to have these structures. A community where the owner owns a portion of shares of stock is called a cooperative.
A stream and large rock are referenced in a property description. Which type of land description would this be considered?
Monument and occupancy property description uses objects to describe the boundaries of a property. Monuments include both natural and manmade items like large trees, rocks, or fences. Occupancy descriptions include more vague owned properties, such as “Carlson’s Farm.”
Rectangular survey is used in many states as a way to evenly divide property into 6 even square mile areas. What are these areas called?
The divisions created in rectangular survey property descriptions are called townships.
Which of the following would determine if there was encroachment on a property?
A survey determines if one’s building or property encroaches (trespasses) on another’s. A survey is typically part of a real estate contract.
What is meant by riparian rights?
If a property owner has riparian rights, their property boarders a moving body of water such as a river or stream. Typically, a property owner with riparian rights can not meddle with the natural flow of the water touching their property.
Which document outlines the environmental effects that are caused by new development?
The Environmental Impact Report (Statement) describes the likely environmental effects a new development will have. The document is sometimes required by local governmental agencies before new construction is started.
What is the name of the type of system that allows land to be owned and controlled by individuals?
The allodial system governs the property and ownership rights in the United States.
What is the term for restrictions, easements, or liens that give others rights to a property?
Encumbrances give land use rights to others besides the owner, such as right-of-ways.
____ is the right to acquire ownership of private Real Estate for public use.
When a government agency or a private entity needs land for public use, they access private land through eminent domain.
____ is the right of the government to acquire property when the owner dies intestate and has no heirs eligible to inherit the property.
When a property owner dies without a will or survivors, the state assumes title through escheat.
Upon sale, the instrument that conveys ownership rights to personal property is a ____ and that dealing with real property is a ____.
A bill of sale transfers title to personal property and a deed transfers title to real property.
As is the case with most homes, what is the term for pledging something as security for a loan without the necessity of giving it up?
Hypothecation allows a property owner to use the property as security for the loan while still being able to occupy it.
What is a right to use another’s land called?
Easements such as party walls connecting adjoining dwellings allow others the right to use another’s land.
____ are annual crops planted on real property but are considered personal property.
Usually for agricultural easements, emblements are crops that are considered personal property while still being attached to the land.
What is the most desirable deed that provides the greatest amount of protection for the grantee?
When a warranty deed is given, the grantee is protected from any person who claims it and any liens against the property by the grantor.
An estate that is of indefinite duration is called a ____ estate.
The only type of estate without constraints on duration is a freehold estate.