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Lesson 2: Basics of Real Estate Law Quiz Flashcards
The difference between a condominium and an apartment
is:A) the number of tenants.B) the construction of the
building.C) the number of levels.D) the manner of ownership.
- the manner of ownership.
- Home mortgage lenders
- Size of the object
- Real estate
Which of these professions is NOT regulated by the TREC?A) Home inspectorsB) Home warranty companiesC) Home mortgage lendersD) Real estate sales agents
Which of these IS NOT one of the basic five tests to determine if an object or item is a fixture?A) Adaptation of the objectB) Manner of attachmentC) Size of the objectD) Existence of an agreement
Which of these provides the broadest definition?A) LandB) Real propertyC) Real estateD) None of these.
The term real property refers to:A) SubsurfaceB)
AirspaceC) All of these.D) Earth's surface
- All of these.
Annual cultivated crops are referred to as:A) fixtures.B)
attachments.C) easements.D) emblements.
- emblements.
- Both of these.
- Scarcity
- Tenancy in Common
Which of these forms of business provide protection from personal liability?A) CorporationsB) LLCsC) Both of these.D) Neither of these.
Which of these is not a Physical characteristic of real property?A) NonhomogeneityB) IndestructibilityC) ScarcityD) Immobility
Which of these forms of ownership allows for unequal interests between the owners?A) Joint TenancyB) Tenancy by the EntiretyC) Tenancy in CommonD) Community Property
A housing cooperative is a co-op that:A) Is attached to a
mixed-use property developmentB) Owns real property, usually residentialC) Is unincorporatedD) Consists of single family dwellings only
- Owns real property, usually residential
The term "situs" refers to:A) none of these.B) the
neighborhood location in terms of social class.C) geographic location.D) location from an economic point of view.
- location from an economic point of view.
The two types of real property characteristics to be
reviewed are:A) Physical and geographicalB) Social and
geographicalC) Economic and socialD) Economic and physical
- Economic and physical
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