SAEE SAEE Property Rights and Legal Considerations 4

Question 1

A property owner builds a fence that encroaches 2 feet onto a neighbor's land. After 15 years of open, notorious, and continuous use without the neighbor's objection, the fence builder may acquire legal title through:

Accepted Answer

Adverse possession

Answer

Adverse possession allows a person to claim title to land they have openly and continuously occupied for the statutory period without the owner's permission.

Question 2

Which type of deed provides the GREATEST protection to a buyer because the grantor warrants title against all defects, even those arising before the grantor owned the property?

Accepted Answer

General warranty deed

Answer

A general warranty deed guarantees the title against all defects and encumbrances throughout the entire chain of title, not just during the grantor's ownership.

Question 3

A homeowner receives notice that the city plans to widen a road, requiring acquisition of a 10-foot strip of their front yard. The city must pay the owner fair market value under the legal principle of:

Accepted Answer

Just compensation

Answer

The Fifth Amendment requires the government to pay just compensation when taking private property for public use through eminent domain.

Question 4

An appraiser discovers that a property has a recorded easement allowing a utility company to run power lines across the backyard. This type of encumbrance is BEST described as:

Accepted Answer

An easement in gross

Answer

An easement in gross benefits a specific entity (the utility company) rather than a neighboring property, making the company the holder regardless of land ownership.

Question 5

Under USPAP, which of the following would constitute a 'departing from' assignment condition that an appraiser must disclose?

Accepted Answer

Limiting the scope of work at the client's request

Answer

When a client requests a limited scope of work that departs from USPAP's typical requirements, the appraiser must clearly disclose this limitation in the report.

SAEE Test Practice Test

SAEE Test Practice Test

SAEE SAEE Property Rights and Legal Considerations 4