Modern Real Estate Practice in North Carolina Ninth Edition. Unit 3 Quiz

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1 Unit 3 Quiz 1. A homeowner objected when a local utility company dug up his garden to install a natural gas line. The company claimed it had a valid easement supported by the county records. The homeowner claimed the easement was not valid because he was unaware of its existence. The easement was a. a valid easement in gross even though the owner did not know about it. b. a valid appurtenant easement owned by the utility company. c. not valid because the owner did not authorize the easement. not valid because the owner was not informed of its existence when he purchased the property. 2. A homeowner tells her neighbor that he can park his camper in the corner of her backyard. No rent is charged for the use of her yard. This is an example of a. an easement in gross. b. an easement by necessity. c. an easement by prescription. d. a license. 3. In order to reach the garage on their property, the property owner utilizes an easement appurtenant that gives the right to use the neighboring property s driveway. The neighboring property is the a. leasehold interest. b. dominant tenement. c. servient tenement. d. licensing property. 4. A recent patio addition extends one foot over the property line onto the lot next door. This best describes an a. easement. b. encumbrance. c. encroachment. d. entitlement. 5. The owner of two acres of land sold one acre but retained an appurtenant easement over that land for ingress and egress to his retained lot. The retained lot a. is the dominant tenement. b. serves as the servient tenement. c. can be cleared of the easement when it is sold to a third party. d. is subject to an easement in gross.

2 6. A developer owns 50 acres of land that she wishes to subdivide into individual residential lots. The developer grants access to the individual parcels so that utility companies can install their lines and pipes. Each utility company has been granted a. an easement in gross. b. an appurtenant easement. c. an easement by necessity. d. a license. 7. The developer grants the power company the right to install transmission lines throughout the subdivision. This right is called a. a license. b. an easement in gross. c. an easement by prescription. d. a conditional use permit. 8. A lot is encumbered by a sewer easement that runs where the property owner wishes to put the foundation of a house. How will this placement affect construction? a. It will have no effect because the sewer line is deeper than the foundation would be. b. The house must be constructed to avoid the easement. c. The municipality must move the sewer line prior to construction. d. Any easement through the lot will prevent construction. 9. A small parcel of land is completely surrounded by other lots and has no street access. Which of the following is TRUE? a. The municipality must construct a street to create access. b. The owner must create an easement by condemnation to provide access. c. An easement by prescription should be granted. d. An easement by necessity should be created for the land-locked parcel. 10. When a personal judgment is properly recorded in the county in which the defendant resides and owns real property, the judgment becomes a. a voluntary lien. b. a specific lien. c. an involuntary lien. d. an equitable lien. 11. When a company furnishes building materials for a house and is subsequently NOT paid, the company may file a. a deficiency judgment. b. a lis pendens. c. an estoppel certificate. d. a mechanic's lien.

3 12. Which of the following liens is NOT required to be recorded in order to be valid? b. Ad valorem tax lien c. Judgment lien d. Mechanic's lien 13. A state income tax lien would be properly classified as a. an equitable lien. b. a specific lien. c. a mechanic s lien. d. a general lien. 14. The current market value of a property is $135,000. For tax purposes, it is assessed at 60% of market value. The tax rate is $2.45 per $100 of assessed value. What is the annual tax liability? a. $1,190 b. $1,323 c. $1,985 d. $3, Under which of the following liens can both the real property and the personal property of the debtor be sold to pay the debt? a. Real estate tax lien b. Mechanic's lien c. Judgment lien d. Assessment lien 16. Which of the following is a voluntary lien? b. Estate tax lien c. Real estate tax lien d. Judgment lien 17. Which of the following liens holds first priority regardless of when it was recorded? b. Purchase money lien c. Ad valorem tax lien d. Federal income tax lien 18. Typically, the priority of general liens is determined by the a. order in which they are filed or recorded. b. order in which the cause of action arose. c. size of the claim. d. court.

4 19. Which of the following is a lien on real estate? a. An easement b. A recorded deed of trust c. An encroachment d. A restrictive covenant 20. Charges levied on a property owner to pay for the installation of sewer and water lines are a. ad valorem taxes. b. general property taxes. c. special excise taxes. d. special assessments. 21. Debts that are incurred by an individual and become liens against any real or personal property owned by that person are a. general liens. b. specific liens. c. fiduciary encumbrances. d. special assessments. 22. A mechanic s lien could be filed in all of the following scenarios EXCEPT a. the hardwood flooring company was not paid after installation was completed five months ago. b. an unpaid equipment lease. c. the architect has not received final payment for the blueprints. d. the general contractor did not pay the subcontractors after closing. 23. What will be the amount of tax payable where the property s assessed value is $185,000 and the tax rate is 40 mills in a community in which an equalization factor of 110% is used? a. $4,625 b. $5,087 c. $7,400 d. $8, The North Carolina Mechanic s Lien law a. applies to all residential construction projects over $30,000. b. only applies to commercial construction projects over $30,000. c. does not apply to construction projects costing over $30,000 on owner occupied dwellings. d. applies to commercial and residential construction projects under $30,000.

5 25. The North Carolina Commercial Real Estate Broker Lien a. allows a commercial client to sue a broker for breaching fiduciary duties. b. gives a buyer s agent the right to sue the commercial listing agent for compensation. c. allows a lien to be placed on the commercial property to secure the broker s commission. d. requires a commercial broker to place a lien on the listed property at the time of the listing. 26. A portion of a building was built on the neighbor s land. This is called an a. accretion. b. avulsion. c. encroachment. d. easement. 27. If the owner of the dominant tenement becomes the owner of the servient tenement and merges the two properties, the easement a. becomes dormant. b. is unaffected. c. is terminated. d. is not held by the owner of the merged properties. 28. A decedent left a will giving a neighbor the right to use a well on the decedent's land as long as the neighbor was alive. The neighbor's interest in the property is properly called a(n) a. leasehold estate. b. easement in gross. c. easement appurtenant. d. life estate.

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