NEW
Font size
WorksheetsCh.2 North Carolina Real Estate Practices and Principles
Total questions: 31
Worksheet time: 31mins
Personal Property attached to real property is prevented from becoming real property by which of the following?
value
an appurtenance
security agreement and financing statement
mineral rights
Which of the following is a right in the property of another that results from ownership in a particular parcel of real estate?
easement in gross
appurtenant easement
license
condemnation
Which of the following is/are correct?
An easement provides a nonpossessory interest in land
The land on which an easement exists is the dominant tenement
The land that benefits from an easement is the servient tenement
All of the above
Easements may be created in all of the following ways EXCEPT:
condemnation
dedication
prescription
assessment
An easement is terminated:
when the purpose for which the easement was created ceases to exist
when the adjoining dominant and servient tenements are combined into one tract of land
by abandonment of the easement by the dominant owner
all of the above
If a property owner gives a specific person permission to cross his property, this is a(n):
easement in gross
easement appurtenant
lease
encroachment
The creation of an easement by condemnation results from the exercise of which of the following?
perscription
eminent domain
dedication
implication
A fee simple determinable:
is an example of a nonfreehold estate
typically stipulates the conveyance is "as long as" it is used for a particular purpose
is an example of pur autre vie (for the life of another)
is an example of freehold rights until the original owner's rights are determined to be invalid
If a widow inherits an estate by will granting her the right of use and possession of a parcel of land for the rest of her life, with the provision that the estate will go to her children in fee simple upon her death, she has received:
an inheritable freehold estate
a life estate with remainder
a life estate pur autre vie
none of the above
The highest and best form of estate in real property is which of the following?
appurtenant easement
defeasible fee
life estate in reversion
fee simple absolute
Estate for years, estates from year to year, estates at will, and estates by sufferance:
are leasehold estates
create a legal relationship between the parties of landlord and tenant
are nonfreehold estates
all of the above
Title held in the name of a corporation with many stockholders is considered to be held as:
severalty
joint tenancy
tenancy in common
tenancy by entireties
Which of the following types of ownership requires unity of interest, title, time and possession?
cooperative
tenancy in common
joint tenancy
condominium
None of the following includes the right of survivorship in North Carolina EXCEPT:
tenancy in common
tenancy by the entirety
life estate
joint tenancy
The purchaser of a condominium unit receives title to the land on which the condominium is situated as a:
tenant by entirety
tenant in common
joint tenant
tenant at sufferance
The purchaser of a condiminium time-share:
takes title for a specified time period (or periods) each calendar year
may not convey title to anyone else
has a 30-day right to rescind the purchase contract
all of the above
In the cooperative form of ownership:
the owner owns his unit in severalty
each owner owns an interest in the common areas
the owners own the building as tenants in common
none of the above
A tenant in common:
may sell her interest in the property
may pledge the entire property as security for a mortgaged loan
may not bring legal action to partition the property
has the right of survivorship in the property
Ownership as tenants by the entirety includes which of the following?
the right of one owner to convey title to his share of ownership without the participation of the other owner
the right of survivorship
ownership of an unequal interest in the property with another
conversion to ownership as joint tenants if the owners are divorced
An encumbrance always:
has a positive effect on property value
has a negative effect on property value
is a lien
none of the above
All of the following are examples of specific liens EXCEPT:
income tax liens
mortgage liens
mechanic's liens
real property tax liens
Which of the following statements regarding judgement liens is correct:
Judgment liens will not attach to property to which title is held by a married couple as tenants by the entirety unless both created the debt and both are named as defendants in the judgement
Judgement liens have a priority over the real property tax assessment
Judgement liens have a priority over all liens other than property tax liens
None of the above
Liens, easements, encroachments, and restrictive covenants are examples of which of the following?
emblements
estovers
estates
encumbrances
Which of the following is an estate that automatically renews itself for consecutive periods?
estate at will
life estate
estate from year to year
estate for years
New construction time-share properties in North Carolina require:
the developer to have a real estate license before sales are made
project registration with the Commission before marketing the units for sale
all time-share sales persons must have a time-share license in NC
the purchaser to be given a right of rescision for three days from purchase
Time-share property in NC:
must be for residential use
is considered personal property
is the right to occupy a property during five or more separated time periods over five or more years
allows a bona-fide employee of the developer to sell the units without a real estate license
An example of an appurtenant easement would be:
City and water easement
Easement for a neighbor/friend to cross a nearby property to access the beach
an easement for the adjoining property to have a driveway over the subject property
a railroad right-of-way easement
All of the following involve ownership of real property EXCEPT:
coorperatives
condominiums
townhouses
time-shares
All of the following are real property EXCEPT:
standing timber
underground minerals
readily movable items
naturally growing vegetation
The item(s) includes as real estate is/are:
trees
fences
a built-in microwave
all of the above
A manufactured home that is towed to the land and placed upon a permanent foundation but still has the wheels, axles and towing hitch attached will be considered:
personal property
real property
an improvement
a fixture
