1 of 10 - A violent storm comes in from the ocean, hitting the beachfront properties with destructive force. When the Meyers return to their home, they find the beach has disappeared from their property. Which term describes the damage?
Reliction
Avulsion
Erosion
Alluvion
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2 of 10 - John lives in an apartment and each month pays his rental payments. He is also considered a stockholder in his building and owns property. In what type of apartment does John live?
Condominium
Timeshare
Cooperative
Common Element
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3 of 10 - Jeremy opened a coffeehouse in a space leased from Maria and Renaldo. A week before his lease expired, Jeremy moved to a new location without his commercial microwave which was attached to the counter. Eighteen days following notice of Jeremy’s right to reclaim the microwave, Maria and Renaldo sold the microwave at auction. Jeremy is furious and threatening legal action. Does he have a suit?
No, Jeremy does not have a case. Since the microwave was not reclaimed during the period allowed by law.
Yes, Jeremy does have a possible suit. The trade fixture, the installed microwave, is considered personal property and was merely forgotten and not legally Maria and Renaldo's to sell.
No, Jeremy does not have a possible suit. If he left it in the property, it automatically becomes property of the owners.
Both A and C
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4 of 10 - Gary and Paul have wooden shutters installed throughout their home. A few years later, Paul is promoted by his employer and transferred to another city. Gary wants to take the wooden shutters to their new home. Paul insists they must remain with the home. Which of the five tests for real and personal property applies?
Method of Attachment
Adaptability
Intent
All of the above.
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5 of 10 - Which of the following is not a water right?
Riparian Right
Doctrine of Prior Appropriation
Littoral Right
Alluvial Right
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6 of 10 - Melinda's mother recently passed away. She is thinking of selling her belongings in an estate sale. During her research, she came across real and personal property regulations and laws. Please help Melinda understand the legal difference(s) between real and personal property.
For the most part, the rules of the situs state govern the transfer of personal property from seller to buyer.
Tax laws often distinguish between real and personal property.
An agreement for a sale of real property must be in writing and signed by the party to be charged. If the amount or value is $500 or more, an agreement for the sale of personal property must be in writing.
Both B and C
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7 of 10 - Which of the following is not considered one of the five economic characteristics of land?
The more demand for a particular property, the more valuable the property. The more demand there is for a particular property, the more valuable it is to consumers looking for real estate.
Each parcel of land has its own nonhomogeneous characteristics. No two properties are the same.
One property will sell quickly if only a few properties in a particular area are on the market.
The three most important economic characteristics of real estate are location, location, and location.
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8 of 10 - The Percy family have purchased a heavily wooded property in Northern California. They are planning to build a guest house off the main house for entertaining. In the process, many trees will need to be cleared. The family is planning to sell the wood to the neighbors as firewood. Which process applies?
Annexation
Severance
Appurtenance
Livery of Seisin
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9 of 10 - To take private property through eminent domain, three steps must be taken by the state or local government. What are they?
The property owner must be paid compensation for the property. The property must be zoned for business use or public use. The owner must have due process in the court system.
The property owner must agree to voluntarily transfer the property. The property must be for public good or use. The owner must have due process in the court system.
The property owner must be paid compensation for the property. The property must be for public good or use. The owner must have due process in the court system.
The property owner must be paid compensation for the property. The property must be for public good or use. The process of condemnation must be executed to ensure taking of the property.
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10 of 10 - Jonathan decides to sell his home and transfer all of his property ownership rights to the new buyer. This bundling and selling of rights is known as:
