Realestate

Which is an example of a negative easement?L and C are married and decide to buy some investment property together. L wants to make sure that if she dies, her daughter from a previous marriage will be able to inherit her interest. How should L and C take title to the property?

• A. joint tenants

• B. tenants by the entirety

• C. tenants in common

• D. tenants in severalty

A and B each own a one-third interest in a property as joint tenants. D owns a one-third interest in the property as a tenant in common with A and B. When B dies, what happens to his interest in the property?

• A. It is split equally; A and D each have a 50% interest

• B. It goes to A, who now has a two-thirds interest.

• C. It goes to B’s heirs, leaving A and D with their one-third interest.

• D. It must go to probate court for a determination.

J granted a deed to the local school district for 10 feet of land for a walkway easement beside his house to the elementary school. This property was transferred by

• A. adverse possession.

• B. condemnation.

• C. dedication.

• D. eminent domain.

What term describes how title to land is gained by the open and notorious, hostile and adverse, exclusive and continuous use of another’s land for a designated period of time, as defined by laws of the state?

• A. adverse possession

• B. eminent domain

• C. devise

• D. intestate

When a property escheats, the title

• A. passes to the named heirs.

• B. passes to the next of kin

• C. reverts to the named remainderman.

• reverts to the state

Title is passed once the deed is

• A. acknowledged and recorded.

• B. delivered and accepted.

• C. granted and transferred.

• D. signed and delivered.

Which document would LEAST LIKELY require a legal description?

• A. deed

• B. listing agreement

• C. mortgage

• D. title insurance

In the metes and bounds system of legal description, metes indicates _____________ And bounds indicates __________________

• A. boundary / distance

• B. distance / boundary

• C. distance / reference point

• D. reference point / boundary

A legal description reads as follows: “The SE 1/4 of the SE 1/4 of Section 26; and the SW 1/4 of the SW 1/4 of Section 25.” How many acres is this?

• A. 40 acres

• B. 80 acres

• C. 120 acres

• D. 240 acres

Upon arrival to a listing appointment, the licensee dealing with an elderly lady realizes she would be happy receiving an offer for much less than market value. The licensee decides to make a cash offer for the list price that the seller accepts. The licensee then sells the property for market value. Which duty has the licensee breached?

• A. confidentiality

• B. disclosure

• C. obedience

• D. no breach has occurred