Deck 3: Interests in Real Estate

Question 1

An easement must be in writing to be enforceable.

Answer 1

False

Question 2

An encumbrance is any interest in or right to real property that is held by someone other than the property owne.

Answer 2

True

Question 3

It is possible for a property's surface rights, subsurface rights, and supersurface or airspace rights to be owned by several different people.

Answer 3

True

Question 4

Which of the following is a right of ownership?

A) The right of possession
B) The right of control
C) The right of disposition
D) All of the above

Question 5

The right of quiet enjoyment means:

A) an owner can prevent a neighbor from building a nightclub next door to his or her property.
B) an owner can expect that the previous owner will not come onto his or her property to harvest pecans.
C) an owner can prevent the city from widening the road in front of his or her property.
D) an owner can stay on his or her property as long as he or she does not disturb the neighbors.

Question 6

Subsurface rights affect the area defined by imaginary straight lines that run from a property's boundaries to:

A) a depth of five miles.
B) a distance adequate to lay a foundation and plant trees and other vegetation.
C) the center of the earth.
D) the water table.

Question 7

Rights to use water from a lake that abuts your property are called:

A) riparian water rights.
B) percolating water rights.
C) littoral water rights.
D) surface water rights.

Question 8

An easement can be created by:

A) an owner of real property.
B) an adjoining landowner.
C) neither the owner of real property nor the adjoining landowner.
D) either an owner of real property or an adjoining landowner.

Question 9

An easement that benefits another parcel of land is called a(n):

A) appurtenant easement.
B) easement in gross.
C) littoral right.
D) riparian right.

Question 10

If you buy a landlocked parcel of land, you might be able to access a nearby lake by getting an easement across an adjoining parcel of land. This easement would be called:

A) an easement by necessity.
B) an easement by right of way.
C) an easement reservation.
D) a negative easement.

Question 11

A grantor (seller) puts in a warranty deed that the grantee (the buyer) can only use the land being conveyed for a school. This is called:

A) a deed restriction.
B) an easement by prescription.
C) a littoral right.
D) an invalid conveyance.

Question 12

The estate in land in which the holder has all of the rights associated with owning real property is called:

A) a leasehold estate.
B) a defeasible fee estate.
C) a fee simple absolute.
D) a fee simple subject to a condition subsequent.

Question 13

In a fee simple determinable estate situation, if the condition is not met, the person with the possibility of reverter:

A) automatically regains fee simple title.
B) must go to court to regain the fee simple title.
C) must allow the person who owns the fee simple, after notice, an opportunity to meet the condition.
D) loses all claims to fee simple title.

Question 14

Holders of a life estate have which of the following duties and rights?

A) They have no duties.
B) They may live in the property until their death.
C) They do not have to pay taxes or do any maintenance.
D) They must reside at the property to preserve their life estate.

Question 15

Title defects might include which of the following?

A) A gap in the chain of title
B) A deed executed by someone who has never had an interest in the property
C) Failure to include a spouse who might have had a claim on the property in a deed
D) All of the above

Question 16

Riparian water can be used by landowners that abut this water source, with certain limitations. What are these limitations?

Question 17

Bob Smith owns a home in a city. His neighbor built a new driveway that accidentally crosses part of Smith's land. What may happen if Smith never says anything to his neighbor about the driveway?

Question 18

What is the major difference between an easement by reservation and an implied easement?

Question 19

Jane Smith conveyed a fee simple determinable estate to her son Bob, with the condition that he build a residential property on the parcel. In this situation, who has the fee simple title? Who has the possibility of reverter?

Question 20

In a lease, what is a right of refusal or a right of first refusal?

Question 21

Discuss the different types of water rights. Why are these rights so valuable? Include in your discussion the limitations that are imposed on water rights.

Question 22

Eminent domain is the power that governments have to take away private property for public use without the owner's consent. Discuss the three things that a government entity must do to exercise the right of eminent domain. Which is the most difficult? Which are most likely to be disputed in court? Why?