Assignment 1

Real Estate Finance - FIN 641

MSc Finance

Dr. Abdullah Alhussaini

Submitted by :

Amal Alsalloum – 421200442

1. Which of the following is not a form of property right?
a. Lien.
b.Easement.
c. Leasehold.
d. License.
e. Mineral rights.

2. Which of these easements is most likely to be an easement in gross?

a. Common wall easement.
b. Driveway easement.
c. Drainage easement.
d. Power line easement.
e. Sunlight easement.

3. Rules used by courts to determine whether something is a fixture include all except:
a. Intention of the parties.
b. Manner of attachment.
c. Law of capture.
d. Character of the article and manner of adaptation.
e. Relation of the parties.

4. Which of these is a titled estate?

a. Fee simple absolute.
b. Fee simple conditional.
c. Conventional life estate.
d. Legal life estate.
(All options are correct)

5. Which of these forms of co-ownership could best be described as "normal ownership," except that multiple
owners share identically in one bundle of rights?
a. Tenancy in common.
b. Joint tenancy.
c. Tenancy by the entirety.
d. Condominium.
e. Estate in severalty.

7. Which of these liens has the highest priority?

a. First mortgage lien.
b. Mechanics' lien.
c. Property tax lien.
d. Second mortgage lien.
e. Unable to say because it depends strictly on which was created first.

8. Restrictive covenants for a subdivision usually can be enforced by:

a. Subdivision residents.
b. Lenders with mortgage loans in the subdivision.
c. Local government.
d. a and b, but not c.
e. All three: a, b, and c.

9. Timeshare programs can involve which of the following claims or interests?

a. Fee simple ownership.
b.Leasehold interest.
c. License.
d. Condominium.
e. All of these are possible.

10. Every condominium buyer needs to know the details of which document(s):
a. Condominium declaration.
b. Bylaws.
c. Proprietary lease.
d. a and b, but not c.
e. All three: a, b, and c.