Question 1

Easements often constitute appurtenant rights.

Accepted Answer

Appurtenant rights are attached to a particular property and pass with the transfer of the property. Easements are often appurtenant rights, meaning they benefit a specific property and its owner rather than an individual person or entity.

Question 2

In a property under lease, the land owner holds a leasehold estate.

Accepted Answer

In a property under lease, the tenant holds the leasehold estate, while the landowner holds the fee simple estate or a reversionary interest.

Question 3

Metes and bounds; recorded lot, block, and tract; and government survey represent the three types of legal descriptions.

Accepted Answer

These are the three types of legal descriptions commonly used in real estate.

Question 4

Tangible property can include both real property and personal property.

Accepted Answer

Tangible property refers to physical assets that can be touched and seen, including both real property (land and buildings) and personal property (such as vehicles, furniture, and electronics).

Question 5

Real property rights cannot be divided.

Accepted Answer

Real property rights can be divided through various forms of ownership such as joint tenancy, tenancy in common, and condominium ownership.

Question 6

A section of land always contains exactly 640 acres.

Accepted Answer

The size of a section of land is defined as 640 acres in the United States Public Land Survey System, but this is not a universal measurement for all sections of land globally.

Question 7

Building codes are enforced under the police power of government.

Accepted Answer

Building codes are enacted and enforced by governmental bodies under the police power granted to them to protect the health, safety, and welfare of their citizens.

Question 8

Deed restrictions are examples of government controls.

Accepted Answer

Deed restrictions are private agreements between property owners and are not considered government controls.

Question 9

When personal property is attached to real estate it is often called a fixture. Fixtures always remain personal property.

Accepted Answer

When personal property is attached to real estate and becomes part of the real estate, it is typically considered a fixture and becomes real property. Exceptions can be made in certain circumstances, such as trade fixtures in a commercial property that can be removed by the tenant at the end of their lease.

Question 10

A valid contract must have parties, a subject, consideration, agreement, and mutual obligation.

Accepted Answer

These are the essential elements of a valid contract according to contract law.

Deck 2: Legal Considerations in Appraisal