Principles Q2 Flashcards

Principles Q2 Flashcards Of the following, which is not a right included in the bundle of rights?a. Right to taxb. Right to ownc. Right to used.Right to transfer a Which of the following is not real property?a. Airspaceb.Solid mineralsc. Gas and oild. Trees

• Gas and oil

An undivided interest is defined as the:a. division of

property.b. fractional interest in a property.c. physical location of an interest in real property.d. interest a co-owner has in property which carries with it a right to possession of the whole property along with the co-owners.d Two brothers, Alex and Chris, wanted to buy a house together, but wanted to make sure that if one brother died, the other would automatically become sole owner of the house. How should they take the title?a. Joint tenancyb.Tenancy in partnershipc. Tenancy by entiretyd. Tenancy in common

• Joint tenancy

Whenever an interest in real property is transferred voluntarily or involuntarily, why should the new owner record the transfer instrument?a. Recording the transfer instrument is required by the Recording Act of California.b.Recording the transfer instrument protects his or her legal interests.c. Recording the transfer instrument gives actual notice of an interest in real property.d. All of the statements are correct.

• Recording the transfer instrument protects his or her

legal interests.Life EstateA life estate is an ownership interest in real estate, governed by state law. It gives a person, called a life tenant, the right to live at or use property during his lifetime -- but he has no right to sell the property.

A renter holds a:a. freehold estate.b. life estate.c.

less-than-freehold estate.d. fee simple estate.d

Anything used with land for its benefit is known as a(n):a.

attachment.b. appurtenance.c. fixture.d. appellation.b Which of the following is considered real property?a.Airspaceb. Gas and oilc. Emblementsd. Trade fixtures a Naturally occurring plant growth, such as grasses, trees,

and shrubs and are considered:a. fructus industriales.b.

personal property.c. part of the real property.d.emblements.c Annual crops produced by human labor, such as fruits,

nuts, vegetables, and grains are:a. fructus industriales.b.

fructus naturales.c. real property.d. easements.

• fructus industriales.

Which statement is correct regarding recording a grant deed?a. A deed must be acknowledged to be recorded.b. A deed must be recorded.c. A deed must be recorded to be acknowledged.d. A deed must be notarized to be valid.a

Leasehold is also known as:a. estate of defeasance.b.

freehold estate.c. less-than-freehold estate.d. life estate.

• less-than-freehold estate.

Which type of ownership is not concurrent ownership?a.Community propertyb. Ownership in severaltyc. Tenancy in commond. Joint tenancy b

Another name for an estate of inheritance is:a. life estate.b.

escheat.c. fee simple.d. less-than-freehold.

• fee simple.