Free BOMA Real Property Administrator Questions and Answers

Question 1

Real Property Interests include

Accepted Answer

Fences

Answer

Fences are permanently affixed to the land and are therefore classified as real property interests. Cultivated annual crops (fructus industriales) are generally treated as personal property because they result from human labor and are harvested. Leasehold interests are contractual rights to use property, not ownership interests in the land itself, and mortgages are financial liens rather than physical property interests.

Question 2

What is a form of ownership that is restricted to husbands and wives

Accepted Answer

Tenancy by entirety

Answer

Tenancy by entirety is a form of ownership that is restricted to husbands and wives. In this type of ownership, both spouses have an equal and undivided interest in the property. They also have the right of survivorship, which means that if one spouse passes away, the other spouse automatically becomes the sole owner of the property. This form of ownership provides protection for the property from individual creditors of each spouse and ensures that the property cannot be transferred or sold without the consent of both spouses.

Question 3

What would result from a condition in a deed?

Accepted Answer

Defeasible fee

Answer

A condition in a deed would result in a defeasible fee. A defeasible fee is a type of ownership interest in real property that is subject to a condition or limitation. If the condition is not met, the ownership interest can be terminated or reverted back to the original grantor. This means that the ownership is not absolute and can be lost if the specified condition is violated.

Question 4

What does tatum refer to

Accepted Answer

Level surface from which elevations are measured

Answer

Tatum refers to a level surface from which elevations are measured. This means that it is a reference point or a benchmark that is used to determine the height or elevation of other objects or locations. It is commonly used in construction, engineering, and surveying to ensure accuracy and consistency in measurements.

Question 5

An investor's personal assets could be subject to a creditor's claim in a

Accepted Answer

General partnership

Answer

In a general partnership, each partner is personally liable for the debts and obligations of the partnership. This means that if the partnership is unable to pay its creditors, the creditors can go after the personal assets of any of the partners to satisfy the debt. In contrast, in a corporation or a real estate investment trust, the shareholders' liability is limited to their investment in the company, so their personal assets are generally not at risk. Similarly, in a syndicate, the liability is typically limited to the specific project or investment, rather than the personal assets of the investors.

BOMA - Building Owners & Managers Association Practice Test

BOMA - Building Owners & Managers Association Practice Test

Free BOMA Real Property Administrator Questions and Answers