WorksheetsReal Estate Unit 2 Quiz
Total questions: 20
Worksheet time: 10mins
Personal property generally includes
trees
air rights
annual crops
mineral rights
A bookstore rents space in a commercial building. The bookstore has large reading tables fastened to the walls and bookshelves bolted to the ceiling and floor that create aisles from the front of the store to the back. These were all installed by the bookstore owner. Which of the following BEST characterizes the contents of the bookstore?
The shelves and tables are trade fixtures and will transfer when the property owner sells the building.
The shelves and tables are trade fixtures and may properly be removed by the bookstore's owner before the lease expires, with the tenant responsible to the landlord for any damage that the removal causes to the premises.
Because the business is a tenant, the shelves and tables are fixtures and may not be removed except with the building owner's permission.
Because the shelves and tables are attached to the building, they are treated the same as other fixtures.
The term nonhomogeneity refers to
scarcity
immobility
uniqueness
indestructibility
Another term for personal property is
realty
fixtures
chattels
fructus naturales
A property owner wants to use water from a river that runs through the property to irrigate a potato field. To do so, the owner is required by state law to submit an application to the Department of Water Resources describing in detail the plan for beneficial use of the water. If the department approves the owner's application, it will issue a permit allowing a limited amount of river water to be diverted onto the property. Based on these facts, it can be assumed that this property owner's state relies on which rule of law?
Riparian rights
Littoral rights
Doctrine of prior appropriation
Doctrine of highest and best use
The owner of a piece of vacant land removed and sold all the topsoil, limestone, and gravel. At the owner's death, which is TRUE?
The property no longer exists.
The heir of the deceased inherits the property.
The heir of the deceased owns the gravel, limestone, and topsoil, no matter where it is.
The estate of the deceased must restore the property to its original condition.
In determining whether an item is real or personal property, a court would consider which of the following?
Any relevant agreement of the parties in their contract of sale
The current value of the item
Whether the item can be resold
The cost of the item when it was purchased
Which of the following is a physical characteristic of land?
Indestructibility
Improvements
Area preference
Scarcity
Which of the following describes the act by which real property can be converted into personal property?
Severance
Accession
Conversion
Attachment
While moving into a newly purchased home, the buyer discovered that the seller had taken the ceiling fan that hung over the dining room table. The seller had not indicated that the ceiling fan would be removed, and the contract did not address this issue. Which statement is TRUE?
Ceiling fans are usually considered real estate.
The ceiling fan belongs to the seller.
Ceiling fans are considered trade fixtures.
Ceiling fans are considered personal property.
A buyer purchased a parcel of land and immediately sold the mineral rights to an oil company. The buyer gave up which of the following?
Air rights
Surface rights
Subsurface rights
Vertical rights
A truckload of lumber that a homeowner purchased has been left in the driveway for use in building a porch. The lumber is considered
real property.
personal property.
a chattel that is real property.
a trade or chattel fixture.
Method of attachment, adaptation to real estate, and agreement between the parties are the legal tests for determining whether an item is
a trade fixture or personal property.
real property or real estate.
a fixture or personal property.
an improvement.
Parking spaces in multiunit buildings, water rights, and similar things of value that convey with property are classified as
covenants.
emblements.
chattels.
appurtenances.
A resort purchases a large tract of scenic forest land and puts several prefabricated steel buildings there to store landscaping equipment, fuel oil, and propane canisters. Which statement is TRUE regarding this situation?
The resort's action constitutes improvement of the property.
The chemicals are considered appurtenances.
The buildings are considered trade fixtures.
Storing fuel oil, which is highly flammable, is not included in the bundle of legal rights.
A property owner's land is located along the banks of a river. This owner's water rights are called
littoral rights.
prior appropriation rights.
riparian rights.
hereditaments.
A property owner's bundle of legal rights entitles the owner to
exclude utility meter readers.
sell the property to a neighbor.
erect improvements in the middle of the road.
sell the neighbor's property.
According to law, a trade fixture is usually treated as
realty.
an easement.
personalty.
a license.
A buyer is interested in a house that is well designed, but is located in a busy area that is problematic for the buyer. The buyer's concern about the property's location is called
physical deterioration.
area preference.
permanence of investment.
immobility.
Which of the following is considered personal property?
Wood-burning fireplace
Built-in microwave
Bathtub
Patio furniture
