Question 1

The term of a ground lease cannot be specified.

Accepted Answer

A) True 
 B)False

Question 2

A __________ sets forth the general terms and conditions of a proposed purchase until a formal acquisition agreement can be signed.

Accepted Answer

A)  letter of agreement 
B)  letter of intent 
C)  form of contract 
D)  formal delineation 
A)  letter of agreement 
B)  letter of intent 
C)  form of contract 
D)  formal delineation

Question 3

CASE 18.1 Kelo v.City of New London (2005)dealt with whether a redevelopment plan designed to spur economic growth by transferring nonblighted private residential property to a private developer constitutes a public use.How did the court rule?

Accepted Answer

A)  The court adopted a rule requiring that the city establish to a "reasonable certainty" that the expected public benefits would actually accrue from the development plan. 
B)  The court preempted multiple state laws prohibiting the taking of private property for purposes of private redevelopment. 
C)  The city cannot use its power of eminent domain because the taking does not advance a public purpose. 
D)  The city could use its power of eminent domain when the taking advances a public purpose. 
A)  The court adopted a rule requiring that the city establish to a "reasonable certainty" that the expected public benefits would actually accrue from the development plan. 
B)  The court preempted multiple state laws prohibiting the taking of private property for purposes of private redevelopment. 
C)  The city cannot use its power of eminent domain because the taking does not advance a public purpose. 
D)  The city could use its power of eminent domain when the taking advances a public purpose.

Question 4

What is generally meant by a reference to a triple net industrial lease?

Accepted Answer

A)  The tenant pays all taxes,insurance,and operating maintenance expenses. 
B)  The lessor pays all taxes,insurance,and operating maintenance expenses. 
C)  The tenant pays insurance and operating maintenance expenses,but the lessor pays taxes. 
D)  The lessor pays insurance and operating maintenance expenses,but the tenant pays taxes. 
A)  The tenant pays all taxes,insurance,and operating maintenance expenses. 
B)  The lessor pays all taxes,insurance,and operating maintenance expenses. 
C)  The tenant pays insurance and operating maintenance expenses,but the lessor pays taxes. 
D)  The lessor pays insurance and operating maintenance expenses,but the tenant pays taxes.

Question 5

English common law created a type of co-ownership of real property between husband and wife called joint tenancy.

Accepted Answer

A) True 
 B)False

Question 6

An environmental impact statement is not required from the government before actions are taken that will affect the environment,but such a statement is required from private developers.

Accepted Answer

A) True 
 B)False

Question 7

In the simplest type of ownership,property is owned by a partnership.

Accepted Answer

A) True 
 B)False

Question 8

Although the appraisal of property is not an exact science,it is highly regulated by state governments.

Accepted Answer

A) True 
 B)False

Question 9

In most commercial purchases of real estate,the deed conveys a(n):

Accepted Answer

A)  fee absolute interest. 
B)  ownership unlimited. 
C)  joint tenancy. 
D)  fee simple interest. 
A)  fee absolute interest. 
B)  ownership unlimited. 
C)  joint tenancy. 
D)  fee simple interest.

Question 10

The type of deed used by the seller determines the scope of the warranties the buyer is given.

Accepted Answer

A) True 
 B)False

Question 11

Describe in detail the three basic types of deeds including any warranties or guarantees the deeds provide.

Accepted Answer

The three basic types of deeds are grant

Question 12

In Stevens v.Premier Cruises,Inc.(2000),the plaintiff-who was confined to a wheelchair-sued Premier Cruises under the __________ Act,claiming that the portions of the ship that were considered "__________" were not in-fact wheelchair accessible.

Accepted Answer

A)  Title III of the Civil Rights; public accommodations 
B)  Americans With Disability; public accommodations 
C)  Department of Justice Disability; public accommodations 
D)  Americans With Disability; private accommodations 
A)  Title III of the Civil Rights; public accommodations 
B)  Americans With Disability; public accommodations 
C)  Department of Justice Disability; public accommodations 
D)  Americans With Disability; private accommodations

Question 13

What must a person do to acquire a parcel of land by adverse possession?

Accepted Answer

To acquire a parcel of land by adverse p

Question 14

Explain the difference between an environmental assessment and an environmental impact statement.When is each used?

Accepted Answer

Certain states require an environmental

Question 15

In relation to notice in connection with a property interest,courts may find __________ notice if a reasonable inquiry would have disclosed a prior interest.

Accepted Answer

A)  actual 
B)  absolute 
C)  constructive 
D)  necessary 
A)  actual 
B)  absolute 
C)  constructive 
D)  necessary

Question 16

Which of the following is NOT a type of recording statute?

Accepted Answer

A)  Race statute 
B)  Notary statute 
C)  Pure notice statute 
D)  Race-notice statute 
A)  Race statute 
B)  Notary statute 
C)  Pure notice statute 
D)  Race-notice statute

Question 17

All tenants in common have an equal right to possession of the property.

Accepted Answer

A) True 
 B)False

Question 18

In community property states,property acquired by inheritance during the marriage is:

Accepted Answer

A)  community property. 
B)  separate property. 
C)  a tenancy by the entirety. 
D)  a tenancy in common. 
A)  community property. 
B)  separate property. 
C)  a tenancy by the entirety. 
D)  a tenancy in common.

Question 19

Which of the following statements best describes rights of redemption?

Accepted Answer

A)  A second lender lends the owner the additional funds and agrees to take over the servicing of the first loan. 
B)  Some states provide the mortgagor and certain other categories of interested persons the right to reacquire the property within a statutory limited period,ranging from two months to two years after the sale. 
C)  In this legal process,a mortgagee puts a piece of property up for sale to the public to raise cash to pay off a debt owed by the mortgagor to the mortgagee. 
D)  A lender advances the funds as the development-the acquisition and improvement of a commercial property-progresses. 
A)  A second lender lends the owner the additional funds and agrees to take over the servicing of the first loan. 
B)  Some states provide the mortgagor and certain other categories of interested persons the right to reacquire the property within a statutory limited period,ranging from two months to two years after the sale. 
C)  In this legal process,a mortgagee puts a piece of property up for sale to the public to raise cash to pay off a debt owed by the mortgagor to the mortgagee. 
D)  A lender advances the funds as the development-the acquisition and improvement of a commercial property-progresses.

Question 20

Blair and Jimmy have been married for many years and own a home through tenancy by the entirety.Blair has grown children from a previous marriage,Andy and Casey; and Blair's will provides that Blair's interest in the home should go to them upon Blair's death.Blair dies at age 90,and a few weeks later Jimmy finds a new friend and moves that friend into the home.Andy and Casey object and tell Jimmy to get out because they have an ownership interest in the home,and they believe that Jimmy is being disrespectful to Blair's memory and wishes.Which of the following is true regarding the ownership claim of Andy and Casey?

Accepted Answer

A)  Blair's children are correct; and each of them,along with Jimmy,have a 1/3 ownership interest in the home. 
B)  Blair's children are correct,and they each have a 25% interest in the home with Jimmy owning the other 50% interest. 
C)  Blair's children are correct,and they each have a 10% interest in the home with Jimmy owning the other 80%. 
D)  Blair's children are incorrect,and Jimmy solely owns the home. 
A)  Blair's children are correct; and each of them,along with Jimmy,have a 1/3 ownership interest in the home. 
B)  Blair's children are correct,and they each have a 25% interest in the home with Jimmy owning the other 50% interest. 
C)  Blair's children are correct,and they each have a 10% interest in the home with Jimmy owning the other 80%. 
D)  Blair's children are incorrect,and Jimmy solely owns the home.

Exam 18: Real Property And Land Use

The term of a ground lease cannot be specified.

A __________ sets forth the general terms and conditions of a proposed purchase until a formal acquisition agreement can be signed.

CASE 18.1 Kelo v.City of New London (2005)dealt with whether a redevelopment plan designed to spur economic growth by transferring nonblighted private residential property to a private developer constitutes a public use.How did the court rule?

What is generally meant by a reference to a triple net industrial lease?

English common law created a type of co-ownership of real property between husband and wife called joint tenancy.

An environmental impact statement is not required from the government before actions are taken that will affect the environment,but such a statement is required from private developers.

In the simplest type of ownership,property is owned by a partnership.

Although the appraisal of property is not an exact science,it is highly regulated by state governments.

In most commercial purchases of real estate,the deed conveys a(n):

The type of deed used by the seller determines the scope of the warranties the buyer is given.

Describe in detail the three basic types of deeds including any warranties or guarantees the deeds provide.

In Stevens v.Premier Cruises,Inc.(2000),the plaintiff-who was confined to a wheelchair-sued Premier Cruises under the __________ Act,claiming that the portions of the ship that were considered "__________" were not in-fact wheelchair accessible.

What must a person do to acquire a parcel of land by adverse possession?

Explain the difference between an environmental assessment and an environmental impact statement.When is each used?

In relation to notice in connection with a property interest,courts may find __________ notice if a reasonable inquiry would have disclosed a prior interest.

Which of the following is NOT a type of recording statute?

All tenants in common have an equal right to possession of the property.

In community property states,property acquired by inheritance during the marriage is:

Which of the following statements best describes rights of redemption?

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In Stevens v.Premier Cruises,Inc.(2000),the plaintiff-who was confined to a wheelchair-sued Premier Cruises under the Act,claiming that the portions of the ship that were considered "" were not in-fact wheelchair accessible.