Question 3

The Krays are purchasing a home in a new subdivision and, like all the other homes in the subdivision, the property's title contains a prohibition from erecting a storage shed on the property.

What is the name for this type of restriction?

options:

1) lien

2) easement

3) restrictive covenant

4) option agreement

5) mortgage

Question 4 (1 point)

Listen Aaron and Janelle enjoyed years of experiences shared through their rewarding ownership of Crystal Lake Cottage Resort Inc. When Aaron died unexpectedly, the title automatically transferred to Janelle. What is the name given to the type of ownership interest enjoyed by Aaron and Janelle that allowed her to acquire ownership in this manner?

options:

1) co ownership

2) tenancy in common

3) joint tenancy

4) fee simple

The city has decided to green up its public transportation system by converting to light rail transit. Plans are underway to commence compensation negotiations with affected landowners to buy their properties. What is the legal name given to the type of authority that has been exercised in these circumstances?

Question 5 options:

1)	authority to regulate zoning

2)	authority of restrictive covenant

3)	authority to expropriate

4)	authority of easement of ownership

Question 6 (2.5 points)

ListenReadSpeaker webReader: Listen

Which of the following are correct with respect to real property and registration?

Question 6 options:

1)	If the seller's mortgage is not paid out when you buy a house, you don't have to worry because you didn't sign the mortgage. It doesn't apply to you and you don't have to pay it.

2)	A mortgage is registered on a document called a certificate of title

3)	The borrower is called the mortgagor

4)	Mortgages are private. They are not available to the public.

5)	You can search a public database by name, for example, if you wanted to determine what real estate a public figure owned in your city