PSI PSI Real Estate Principles and Practices 2

Question 1

What is the term for an easement that benefits one parcel of land and burdens another?

Accepted Answer

Easement appurtenant

Answer

Easement in gross

Answer

License

Answer

Profit

Question 2

Under the doctrine of adverse possession, which condition is NOT required for a claimant to gain title?

Accepted Answer

Payment of fair market value

Answer

Continuous possession

Answer

Open and notorious use

Answer

Hostile claim

Question 3

Which type of deed is most commonly used in foreclosure sales and offers the least protection to the buyer?

Accepted Answer

Quitclaim deed

Answer

General warranty deed

Answer

Special warranty deed

Answer

Sheriff's deed

Question 4

Real property is converted to personal property through a legal process called:

Accepted Answer

Severance

Answer

Annexation

Answer

Dedication

Answer

Accession

Question 5

Which of the following would NOT be considered real property?

Accepted Answer

A harvested crop stored in a silo

Answer

Fruit trees in an orchard

Answer

A barn permanently attached to land

Answer

Underground mineral rights

Question 6

A title search discovers a cloud on title. What is the most effective way to resolve it?

Accepted Answer

File a quiet title action

Answer

Purchase a homeowner's insurance policy

Answer

Record a new deed

Answer

Obtain a property survey