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Real Property Ownership/Interest Exam Prep

MANTLE REALTY

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

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High Point

2212 Eastchester Dr
High Point, NC 27265

Kernersville

202 W Mountain St
Kernersville, NC 27284

Lexington

7224 Old U.S. Hwy 52
Lexington, NC 27295

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