Property

Which of the following best describes a parcel of land?

• The surface of the earth includes all things permanently attached and the control of all minerals and substances beneath

• The surface of the earth extending down to the center and upward to infinity

• the earth's surface clearly marked by certain boundaries

• the surface of the earth extending down a reasonable distance and up into the air a reasonable distance

In determining whether an item is a fixture, which of the following would not be considered

• method of attachment

• adaptation to the real estate

• value of the item

• legal interest of the annexing party

The characteristic that distinguishes personal property from real property is

• mobility

• scarcity

• durability

• flexibility

When used in a deed or other real estate document, a legal description describes only the land because

• a bill of sale is used to convey title to the buildings and other improvements

• artificial attachments, such as buildings, cannot be adequately surveyed

• buildings and other improvements are considered to be part of the real estate

• a street address is used to identify the buildings and improvements

• A

• B

• C

• D

Crops planted and harvested each year

• personal property

• emblements

• fructus industrials

• all of the above

The most distinctive physical characteristic of land is:

• homogeneity

• immobilty

• situs

• improvements

All of the following are real property EXCEPT:

• oil below the earth's surface

• a concrete driveway

• cut timber

• air rights

The law of capture refers to the:

• process of removing oil and gas from the land

• government's right of eminent domain

• landowner's right to keep trade fixtures if not removed

• responsibility of lateral support while removing solid minerals

The sum of all factors that effect value is called:

• location

• accession

• situs

• scarcity