Master Real Property Law: Online Quizzes for Business Professionals

Question 1

An easement is a legal interest in real property that:

Accepted Answer

Grants the holder the right to use or enter another's land for a specific purpose.

Answer

Gives the lender possession of the property if the borrower defaults on a mortgage.

Answer

Creates a new parcel of real property.

Answer

Restricts the use of real property.

Question 2

The doctrine of adverse possession allows a person to obtain title to real property by:

Accepted Answer

Openly, notoriously, and continuously possessing the property for a specified period of time without the owner's permission.

Answer

Paying property taxes on the property for a specified period of time.

Answer

Inheriting the property from a relative.

Answer

Purchasing the property from the rightful owner.

Question 3

Which of the following is **not** a characteristic of a fee simple estate?

Accepted Answer

Subject to a mortgage

Answer

Indefinite duration

Answer

Transferable

Answer

Inheritable

Question 4

A covenant is:

Accepted Answer

A promise or agreement in a deed that runs with the land and is binding on subsequent owners.

Answer

A type of easement that grants the right to use a specific part of another's land.

Answer

A restriction on the use of real property that is imposed by the government.

Answer

A legal document that creates a new parcel of real property.

Question 5

The principle of fixture law is that:

Accepted Answer

An object that is attached to real property, intended to remain attached, and essential to the use of the property becomes part of the real property.

Answer

An object that is not attached to real property remains personal property.

Answer

The intention of the person who attached the object to the real property is irrelevant.

Answer

Fixtures are always subject to a mortgage on the real property.

Question 6

Which of the following is NOT a freehold estate?

Accepted Answer

Leasehold

Answer

Fee simple absolute

Answer

Fee simple determinable

Answer

Fee tail

Question 7

An easement is primarily defined as:

Accepted Answer

A right to use another's land for a specific purpose

Answer

A temporary transfer of ownership rights

Answer

A right to possess and control land

Answer

A limitation on the use of land

Question 8

According to the doctrine of fixtures:

Accepted Answer

Personal property attached to real property generally becomes part of the real property

Answer

Real property attached to personal property becomes part of the personal property

Answer

Fixtures are always considered personal property

Answer

Fixtures are always considered real property

Question 9

Which characteristic is NOT associated with a fee simple interest in real property?

Accepted Answer

Revocable by the grantor

Answer

Indefinite duration

Answer

Freely transferable

Answer

Inheritable

Question 10

Which of these is NOT a characteristic of a fee simple absolute ownership of real property?

Accepted Answer

It is always subject to a mortgage or other encumbrance.

Answer

It grants the most extensive ownership rights.

Answer

It can be passed down to heirs.

Answer

It has no time limit on its duration.

Question 11

Which characteristic is NOT associated with a fee simple absolute interest in real property?

Accepted Answer

Contingent upon a future event

Answer

Indefinite duration

Answer

Exclusive possession

Answer

Transferable ownership

Question 12

A mortgage can be best described as:

Accepted Answer

A security interest in property to secure repayment of a debt.

Answer

An absolute transfer of title to the lender.

Answer

A type of lease that does not involve the transfer of ownership.

Answer

A lien on the borrower's personal assets, but not the real property.

Question 13

A deed is a legal document that primarily serves to:

Accepted Answer

Transfer title to real property

Answer

Create an easement

Answer

Establish a mortgage

Answer

Grant a leasehold interest

Question 14

A condominium is a type of:

Accepted Answer

Real property ownership where the owner has exclusive rights to a specific unit within a larger building.

Answer

Personal property ownership where the owner has full rights to a movable item.

Answer

Leasehold interest where the owner has the right to occupy a property for a fixed period.

Answer

Easement where the owner has the right to use a portion of someone else's property.

Question 15

Which of the following is NOT a potential benefit of owning real property?

Accepted Answer

Guaranteed financial returns

Answer

Potential appreciation in value

Answer

Rental income if the property is leased out

Answer

Tax deductions for mortgage interest and property taxes

Question 16

A title search is primarily conducted to:

Accepted Answer

Determine the legal ownership of a property and identify any potential encumbrances or liens.

Answer

Verify the zoning of the property to ensure compliance with local regulations.

Answer

Assess the value of the property for insurance or tax purposes.

Answer

Obtain a detailed history of the property's previous owners and transactions.

Question 17

A lease can be defined as:

Accepted Answer

A contractual agreement that grants the right to occupy real property for a specified period in exchange for rent.

Answer

A permanent transfer of ownership from one party to another.

Answer

A type of security interest that gives the lender the right to seize the property if the loan is not repaid.

Answer

An easement that allows the holder to use a portion of someone else's property for a specific purpose.

Question 18

Which of the following is NOT a common covenant found in real property deeds?

Accepted Answer

Covenant of habitability

Answer

Warranty of title

Answer

Covenant of quiet enjoyment

Answer

Covenant against encumbrances

Question 19

What is the essence of the Statute of Frauds as applied to real property?

Accepted Answer

It requires certain types of real property contracts to be in writing to be legally enforceable.

Answer

It sets forth the specific requirements for a valid deed.

Answer

It limits the time period within which a party can file a lawsuit for breach of a real property contract.

Answer

It does not apply to real property transactions.

Question 20

How does zoning influence the usage and development of real estate?

Accepted Answer

Zoning aids in preserving the character and worth of neighborhoods.

Answer

Zoning permits landowners to utilize their property for any purpose.

Answer

Zoning guarantees that all properties within a specific area are utilized for the same purpose.

Answer

Zoning has no bearing on the development of real estate.

Question 21

Identify the three essential elements necessary to establish an adverse possession claim.

Accepted Answer

Actual possession, open and notorious use, hostile claim of ownership

Answer

Constructive possession, exclusive use, payment of property taxes

Answer

Permissive possession, open and notorious use, continuous use

Question 22

Which type of easement allows the holder to utilize another person's land for a particular purpose?

Accepted Answer

Easement appurtenant

Answer

Easement in gross

Answer

Negative easement

Answer

Profit à prendre

Question 23

Which of the following is a covenant that binds successors in interest and runs with the land?

Accepted Answer

A restriction on the property's use

Answer

A promise to pay rent

Answer

An obligation to repair the property

Answer

An agreement to allow access to the property

Question 24

Which principle states that a landowner has the right to use their land without unduly interfering with the rights of neighbors?

Accepted Answer

Sic utere tuo ut alienum non laedas

Answer

Doctrine of adverse possession

Answer

Doctrine of equitable estoppel

Answer

Doctrine of nuisance

Question 25

Which of the following is NOT a recognized method of acquiring title to real property?

Accepted Answer

Escheat

Answer

Adverse possession

Answer

Transfer by deed

Answer

Tax sale

Question 26

Which legal document serves as the primary instrument for transferring ownership of real property?

Accepted Answer

Deed

Answer

Contract

Answer

Mortgage

Answer

Promissory note

Question 27

An easement is best defined as:

Accepted Answer

A right to possess and use another person's property without possessing it

Answer

A right to transfer ownership of property

Answer

A right to prevent development on adjacent property

Answer

A right to mortgage property

Question 28

The doctrine of adverse possession allows:

Accepted Answer

A person to acquire title to property through open, notorious, exclusive, hostile, and continuous possession for a specified period of time

Answer

A person to transfer title to property without the owner's consent

Answer

A person to claim an easement over property

Answer

A person to mortgage property without the owner's knowledge

Question 29

Which of the following is an example of a covenant that runs with the land?

Accepted Answer

A promise to not build a fence

Answer

A promise to repair the property

Answer

A promise to pay for landscaping

Answer

A promise to transfer ownership to a specific person

Question 30

A plat is:

Accepted Answer

A map of land showing its boundaries and subdivisions

Answer

A legal document transferring ownership of property

Answer

A record of mortgages on a property

Answer

A survey of the property's natural resources

Question 31

In real property ownership, what is the key difference between a freehold estate and a non-freehold estate?

Accepted Answer

Freehold estates provide ownership indefinitely, while non-freehold estates grant possession for a set period.

Answer

Freehold estates grant exclusive possession, while non-freehold estates allow shared possession.

Answer

Non-freehold estates are established through deeds, while freehold estates can be created through deeds or wills.

Answer

Freehold estates can be inherited, while non-freehold estates cannot.

Question 32

An easement is best described as a:

Accepted Answer

Permanent right to use another's land

Answer

Temporary right to possess another's land

Answer

Exclusive right to purchase another's land

Answer

Legal obligation to maintain another's land

Question 33

Which of the following is NOT a type of mortgage where the borrower retains possession of the property?

Accepted Answer

Chattel mortgage

Answer

Equity mortgage

Answer

Installment mortgage

Answer

Subordination mortgage

Question 34

Which of the following is a type of deed that conveys title to land with general warranties?

Accepted Answer

Warranty deed

Answer

Quitclaim deed

Answer

Bargain and sale deed

Answer

Special warranty deed

Question 35

A foreclosure is a legal process to:

Accepted Answer

Enforce a mortgage debt

Answer

Transfer ownership of property

Answer

Settle a property dispute

Answer

Create an easement

Question 36

Which of the following is a type of freehold estate in which the owner has absolute ownership with no time limits?

Accepted Answer

Fee simple

Answer

Tenancy at will

Answer

Tenancy at sufferance

Answer

Leasehold

Question 37

What is the legal principle that states that a person who owns land also owns everything attached to it that is considered a permanent part of the land?

Accepted Answer

Fixture

Answer

Easement

Answer

Lien

Answer

Chattel

Question 38

What is the key difference between a mortgage and a deed of trust?

Accepted Answer

A deed of trust involves a third-party trustee who holds the title to the property until the mortgage is paid off

Answer

There is no difference between a mortgage and a deed of trust

Answer

A mortgage is more formal than a deed of trust

Answer

A deed of trust is only used for commercial properties

Question 39

What is the primary purpose of a title search?

Accepted Answer

To determine whether there are any liens or encumbrances, such as mortgages or easements, on a property

Answer

To establish the boundaries of a property

Answer

To verify the identity of the property owner

Question 40

Which of the following is a type of zoning law that restricts the use of land for residential purposes?

Accepted Answer

Residential zoning

Answer

Criminal law

Answer

Civil law

Answer

Constitutional law

Question 41

What is the primary distinction between a landlord and a tenant?

Accepted Answer

A landlord owns the rental property, while a tenant leases or rents it from the landlord

Answer

A landlord is always responsible for repairs and maintenance

Answer

A tenant cannot sublet the property without the landlord's permission

Question 42

What is the purpose of a homestead exemption?

Accepted Answer

To protect a certain amount of equity in a primary residence from creditors

Answer

To reduce property taxes

Answer

To exempt a property from foreclosure

Question 43

A landowner grants a right to another party to cross their property to access a public road. This right is best described as a(n):

Accepted Answer

Easement

Answer

Encroachment

Answer

License

Answer

Profit

Question 44

Which of the following is NOT a characteristic of a joint tenancy?

Accepted Answer

Shares can be inherited.

Answer

Equal possession rights.

Answer

Right of survivorship.

Answer

Unity of title.

Question 45

A mortgage where the interest rate can change based on market conditions during the loan term is known as a(n):

Accepted Answer

Adjustable-Rate Mortgage (ARM)

Answer

Balloon Mortgage

Answer

Fixed-Rate Mortgage

Answer

Amortized Mortgage

Question 46

A legally binding agreement to buy and sell real estate is called a(n):

Accepted Answer

Real Estate Purchase Agreement

Answer

Title Insurance Policy

Answer

Deed

Answer

Mortgage

Question 47

Which type of deed provides the grantee with the most comprehensive protection against title defects?

Accepted Answer

General Warranty Deed

Answer

Quitclaim Deed

Answer

Special Warranty Deed

Answer

Bargain and Sale Deed

Question 48

A legal claim or charge placed on real property to secure repayment of a debt is referred to as a(n):

Accepted Answer

Lien

Answer

Easement

Answer

Fixture

Answer

Encroachment

Question 49

The legal principle that determines whether an item is considered real property or personal property is known as:

Accepted Answer

Fixture Law

Answer

Environmental Law

Answer

Land Use Law

Answer

Zoning Law

Question 50

The process of officially registering a deed or other real estate transaction with the government is called:

Accepted Answer

Recording

Answer

Chain of Title

Answer

Title Search

Answer

Abstract of Title