Midterm RE All answers 100% correct aid grade A

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Question 1 A permanently attached fixture is classified as real property. True Question 2 Inheritance is the passage of ownership of real property from a person who dies without a will. Que... stion 3 Failure by an owner of a life estate to adequately maintain the property subject to the life estate is known as: Question 4 The main methods of acquiring ownership to real property are: Question 5 The right of survivorship in a joint tenancy with right of survivorship provides that the owner's interest in the joint property can be willed or passed to the owner's heirs at death. Question 6 Points Aaron, Bob, and Carl, as joint tenants with right of survivorship, own 15 acres of land. A purchaser wishes to purchase 5 acres of land. The purchaser will need a deed from: Question 7 The voluntary division of common property by the owners into separate ownerships is called: Question 8 Which of the following concurrent forms of ownership contain a right of survivorship? Question 9 Zoning does not require procedural due process. Question 10 The right to use Question 12 A purchaser who has actual knowledge of contamination at the time of purchasing the property may still be an innocent party under CERCLA. Question 13 The use of real property Question 14 A landlocked owner who acquires an easement over a neighbor's property to gain access to apublic road is generally thought to own: Question 15 Which of the following events would not terminate an easement? A.ownership of the dominant and servient tenements by the same owner Question 16 All contracts must be in writing to be enforceable. Question 17 Title that a prudent purchaser with full knowledge of all the facts would accept is known as insurable title. Question 18 A real estate broker may be able to place a lien against an owner's property to secure unpaid real estate commissions Question 19 The measure of monetary damages for breach of a real estate contract is computed as follows: Question 20 Points Seller offers to sell their home to a purchaser for $70,000.00. The purchaser responds that they will buy the home for $60,000.00. The seller refuses the purchaser's offer to buy for $60,000.00. The purchaser then after that refusal offers to buy the home for $70,000.00. At this time the legal relationship of the parties are: Question 21 An oral deed is enforceable Question 22 A deed once signed by the grantor conveys ownership of the property to the grantee. A. True Question 23 A state statute that establishes a ceiling or maximum rate of interest to be charged on the loan is called a usury statute. Question 24 The legal means of requiring that real property conveyed in a mortgage be sold and the proceeds used to pay the debt is called foreclosure. Question 25 A foreclosure sale generally has the effect of divesting and terminating all junior encumbrances on the real property. Question 26 A debtor's rights in bankruptcy are determined by: Question 27 It would only be necessary to examine the Uniform Commercial Code financing statement index if: Question 28 A metes and bounds description must close. Question 29 List and explain each in detail the six types of modern day estates in real property. Remember to give details on each and a proper Bluebook citation to your reference. This is an essay not a short answer question! There are six types of modern-day estates in real property Question 30 a. Define what a deed is and explain in detail the three types commonly used as well as the basic requirements of a deed. [Show More]

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