1)
The use of eminent domain for urban
redevelopment is not a dangerous infringement of private property rights and
should be done more often.
a.
True
b.
False
2)
The difference between a fixture and a trade
fixture is that a fixture was once personal property that has been attached to
real property that has become property and trade fixture is personal property
that is used in a business.
a.
True
b.
False
3)
An encroachment occurs when someone occupies
property without the owner’s permission and gains ownership interest in the
property.
a.
True
b.
False
4)
A lien is a claim on real property as security
for a debt or monetary obligation that can be placed on a property whenever you
borrow money.
a.
True
b.
False
5)
The rights of surviving joint tenants have in
real property when a joint tenant dies are called rights of survivorship.
a.
True
b.
False
6)
The concept of ________ comes from English
common law in which unclaimed property of a deceased person (without a will or
heirs) is taken by a government.
a.
Just compensation
b.
Escheat
c.
Reversion
d.
Encumbrance
7)
A freehold estate that ends upon the death of an
individual.
a.
Life tenant
b.
Remainder
c.
Life estate
d.
Easement
8)
Because a property may have more than one lien,
there is an order that determines the likelihood that a lienholder will be paid
back. The order is as follows:
a.
Tax, second level, mortgage
b.
Mortgage, mechanics, tax
c.
First level, perfect, judgment
d.
Tax, mortgage, mechanics
Answers: 1)F 2)T 3)T
4)T 5)T 6)B
7)C 8)D
No comments:
Post a Comment