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Real Property Ownership/Interest Exam Prep
Real Property Ownership/Interest Exam Prep
Nowhere City creates tax incentives to encourage rehabilitation of property in a run-down neighborhood. This is an example of what force?
Police Power
Social
Fiscal
Governmental
A system of ownership and fee simple title to designated areas of air space plus a percentage of ownership of common elements in the property is termed:
Condemnation
Chattel
Cooperative
Condominium
As defined in local zoning ordinances, the distances between lot lines and improvements are known as:
Frontage
Set backs
Depth
Buffer zones
After a buyer purchases a property, he has a survey made and finds that his neighbor recently has built a fence 10 feet over onto the buyer's land. This is an example of:
A party wall
An appurtenance
An encroachment
Adverse possession
A grantor conveyed a vacant 1-acre track of land to a grantee. The grantee receives:
43,650 sq. feet
5,280 sq. feet
640 sq. feet
43,560 sq. feet
Which of the following is considered real property?
Light fixtures
Area rugs
Emblements
Trade fixtures
Which of the following statements is not true regarding deed restrictions?
They terminate upon the death of the grantor
They are called restrictive covenants
They are frequently encountered in residential subdivisions
Once established, they run with the land and have limitations on the use of future grantees
Which is not an example of common area in a condominium?
Balcony
Laundry Room
Land
Swimming pool
Fixtures and showcases attached in a store that occupies rented space are considered:
All answers choices given
Chattels
Personal Property
Trade fixtures
Which type of description is inadequate for describing property in a deed?
Lot number
Rectangular survey description
House address
Metes and bounds
Δ