Principles of California Real Estate (Midterm) correct questions and answers

Principles of California Real Estate (Midterm) 1. Which of the following sources would be the least satisfactory for obtaining a legal description of a parcel of real property? A. Deeds B. Preliminary title reports C. Escrow instructions D. Real property tax bills 2. The land description method that makes reference to sections, townships, and ranges is the: A. government survey method B. recorded map method C. metes and bounds method D. Torrens system 3. A ranch is 36 miles square. What is the number of townships contained in the ranch? A. 1 B. 6 C. 36 D. 1,296 4. Which of the following is not considered to be appurtenant to land? A. Watercourses B. Fences C. Dwellings D. Trade fixtures 5. When a title company issues an ALTA policy, it will extend the risk, beyond that which is covered by a standard policy, to include all of the following, except: A. the rights of parties in possession B. unrecorded easements C. the effect of zoning regulations D. unrecorded mechanic's liens 6. The right to use and enjoy another person's property that falls short of an estate is a/an: A. easement B. leasehold C. deed D. devise 7. A seller accepted a proper offer in writing to purchase his property. He then refused to complete the transaction. If the buyer were to bring suit for failure to perform the contract, under the statute of limitations he would need to do so within: A. 1 year B. 2 years C. 3 years D. 4 years © 2008 Rockwell Publishing 1 8. A city passes a bond issue to improve streets in a particular neighborhood. The properties in that area will be burdened: A. according to value of the property B. according to the size of the lot C. in proportion to the benefits that the land will receive D. identically 9. Al willed his property to his three children as joint tenants: Barry, Chris, and Dara. Barry then died, leaving behind a will stating that his share of the property would pass to his daughter Mary. Dara then sold her portion of the property to her friend Vera. At this point, how is the property owned? A. Mary and Chris own it as joint tenants B. Vera and Chris own it as tenants in common C. Mary, Vera, and Chris own it as tenants in common D. Mary and Chris own their shares as joint tenants, while Vera owns her share as a tenant in common 10. A person was judicially declared incompetent and then was willed a parcel of real property by his brother. Can he take title to this property? A. He can accept title only if it is placed with a trustee B. He can accept title to real property that passes to him by will C. He cannot accept title because he is incompetent D. He can accept title to personal property but not real property 11. Which of the following statements concerning estates is correct? A. A life estate is a leasehold estate B. An estate may be held with another estate in the same prope