Ch. 2 Quiz

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A buyer is interested in a house that fits most of her needs, but it is located in a busy area where she is not sure she wants to live. Her concern about the property's location is called
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Terms in this set (28)
All of the following are included in the bundle of rights EXCEPT:ExpansionLand, mineral, and air rights in the land are included in the definition of:Real PropertyOwners with littoral rights enjoyunrestricted use of available waters, but they own the land adjacent to the water only up to the average high-water mark.After the construction of a building in the air rights above a railroad right-of-way, the trains canOperate as usualWhich of the following is considered personal property?Patio Furniture (Moooovable)The seller asked the real estate agent to draw up several documents relating to seller financing. Under these circumstances, the agent should:Refer the seller to an attorneyA truckload of lumber that a homeowner purchased has been left in the driveway for use in building a porch. The lumber is consideredPersonal ProperyA man inherited a piece of vacant land, removed and sold all the topsoil, limestone, and gravel. At his death, he left the property to his daughter. Which is TRUE?The daughter inherits the property as is.An important characteristic of personal property is that it is:Mooovable.The developer added sewer lines and utilities and built two streets. What are these items called?ImprovementsMobile home, rather than manufactured housing, is the term used for a factory-built home that was built before1976A property owner's land is located along the banks of a river. This owner's water rights are calledRiparian RightsAccording to law, a trade fixture is usually treated asA personalty.Rights or privileges which are connected with real property, areappurtenanceThe rights of ownership of real property include all of the following EXCEPT the right ofcompatibilityLand is considered to beindestructibleAll of the following are physical characteristics of land EXCEPTScarcityReal Property can become personal property byseverance