Deck 7: Property, Real and Personal

Question 1

The grantor can have the transferee hold the land for a period less than the grantee's life. In such a case, it is called a remainder.

Answer 1

False
Explanation: The grantor can have the transferee hold the land for a period less than the grantee's life. In such a case, it is called an estate for years.

Question 2

A valid completed gift can be taken back by the donor.

Answer 2

False
Explanation: A valid completed gift cannot be taken back by the donor, and the donee can now do whatever he or she wishes with the gift.

Question 3

The first to claim mislaid personal property acquires title to the personal property and becomes the owner of the property.

Answer 3

False
Explanation: The first to claim abandoned personal property acquires title to the personal property and becomes the owner of the property. In the case of mislaid property, the owner of the premises where the property is found is entitled to claim the mislaid property if the true owner is not found.

Question 4

Before the testator's death, the will can be revoked or property dispositions changed as often as the testator wishes.

Question 5

If someone steals property from the owner, then sells the property to a third party, even to an innocent purchaser who has no notice that the property is stolen, the true owner can still reclaim the property.

Question 6

Even though one plot of land may look much like another, according to the law each piece of real property is unique.

Question 7

Which of the following types of properties is most likely to include land and anything permanently attached to it such as houses?

A) Tangible personal property
B) Real property
C) Intangible personal property
D) Intellectual property

Question 8

An agreement to sell to buyer trees cut from your property is an agreement for personal property

Question 9

If the grantor of land orders that the land will go to a third party (i.e., not the grantor or grantee/life tenant) after the life estate is over then this is known as reversion.

Question 10

Harm to the real property should be proved to establish the tort of trespass to real property.

Question 11

The holder of a life estate interest can will the property to someone else.

Question 12

Trees are most likely to be an example of _____ property.

A) tangible personal
B) real
C) intangible personal
D) intellectual

Question 13

A fee simple interest in land is only good for the life of the life tenant who holds the interest.

Question 14

In the case of joint tenants with right of survivorship, a joint tenant can pass his or her interest by will to anyone other than the other joint tenants.

Question 15

When someone sells a house or building, it is enough to simply include the street address of the property in the deed; the full legal description of the property need not be included.

Question 16

The lessee does not have title or ownership of the property that he has taken on leave, but only legal possession.

Question 17

Personal property is anything other than land.

Question 18

A donee who receives a valid completed gift can sell it to someone else.

Question 19

The life tenant only owns the land during the measuring life and the measuring life may be that of the life tenant or someone else.

Question 20

Title and ownership to the property do not pass to the tenant; only possession does.

Question 21

The one who receives a life estate interest is called a _____.

A) plaintiff
B) donee
C) grantee
D) testator

Question 22

Which of the following statements is true regarding reversion?

A) The grantee gets the life estate interest in the land after the death of the grantor.
B) The grantor orders that the land will go to a third party after the life estate is over.
C) The grantee can sell the land after the death of the granter.
D) The grantor dictates that after the life estate the interest is to return to the grantor.

Question 23

A(n) _____ interest in real estate is the most rights our law recognizes in property.

A) reversion
B) estate for years
C) fee simple
D) tenant

Question 24

The grantor can have the transferee hold the land for a period less than the grantee's life. This property estate is known as _____.

A) reversion
B) fee simple
C) adverse possession
D) estate for years

Question 25

Eminent domain is:

A) the government's right to take property for government use while providing the owner with fair market value for the taking.
B) the owner's right to sell the property at any price that he/she finds suitable.
C) the tenant's right to buy the property after using it for a fixed number of years at market value.
D) the owner's right to hold the property for a lifetime and then pass it on to a person who is not a relative of the owner.

Question 26

Ted is the only person who holds title to a house. He does not have to consult with anyone to determine how the house can be used. He is the only one responsible for paying for the property, repairs, taxes, and harm that occurs to another from use of the house. This is an example of _____.

A) joint tenants with right of survivorship
B) sole ownership
C) tenants in common
D) tenants by the entirety

Question 27

If, rather that have the interest after the life estate go to a third party, the grantor dictates that the interest is to return to the grantor, this is _____.

A) life estate
B) estate for years
C) reversion
D) remainder

Question 28

A _____ is a legal document that gives title to the property to the owner.

A) will
B) summons
C) covenant
D) deed

Question 29

Which of the following types of property estates represents an interest in land that is only good for the life of the life tenant who holds the interest?

A) Reversion
B) Life estate
C) Remainder
D) Tenant

Question 30

If the grantor of land orders that the land will go to a third party (i.e., not the grantor or grantee/life tenant) after the life estate is over, then the property received by the third party is known as the _____.

A) adverse possession
B) remainder interest
C) estate for years
D) reversion

Question 31

Three siblings hold title to a piece of property at the same time. Each of them has an undivided proportionate share of the whole and even if one of them dies, his or her share will not go to the other owners automatically. This is most likely to be an example of _____.

A) sole ownership
B) joint tenants with right of survivorship
C) tenants by the entirety
D) tenants in common

Question 32

Three siblings own their property as joint tenants. When one of them dies, his interest cannot be willed away to someone else. Instead, the two remaining siblings will now own title to half of the property instead of one-third each. The decedent cannot pass his interest by will to anyone other than the other joint tenants. This is most likely to be an example of _____.

A) sole ownership
B) joint tenants with right of survivorship
C) tenants by the entirety
D) tenants in common

Question 33

Mike deeds his house to his daughter Samantha for her life and once Samantha dies the house goes to a charitable trust. This is an example of the _____ type of property interest.

A) reversion
B) life estate
C) remainder
D) tenant

Question 34

_____ is a form of holding property that is specific to married couples.

A) Sole ownership
B) Joint tenants with right of survivorship
C) Tenants by the entirety
D) Tenants in common

Question 35

The one who grants a life estate is called a _____.

A) testator
B) tenant
C) donor
D) grantor

Question 36

The tenant:

A) can will the property to someone else.
B) gets the possession of the property for some period.
C) has the reversion interest in the property.
D) can sell the property.

Question 37

Michel deeds his house to Robert for the life of his wife. Once his wife dies, the property goes to a church. This is an example of the _____ type of property interest.

A) reversion
B) fee simple
C) life estate
D) tenant

Question 38

When an individual possesses another's land openly, notoriously, and treats it as his or her own for a period set forth in a statute (usually 21 years) and the true owner makes no claim, the individual can petition the court to have title transferred into his or her name and become the owner of the property. Such a transfer of property is termed as _____.

A) tenancy
B) reversion
C) adverse possession
D) remainder

Question 39

Which of the following statements is true regarding estate for years?

A) The grantee of the estate for years has the land only for the period for which it is granted to him/her.
B) The grantee of the estate for years can sell the land to someone else.
C) The grantee of the estate for years can grant the land to someone else for life estate.
D) The grantee of the estate for years can bequeath the land to someone else through a will.

Question 40

Which of the following statements is true regarding the life estate interest?

A) The transfer of property taking place as per the life estate interest is known as adverse possession.
B) The holder of a life estate can will the property to someone else.
C) The holder of a life estate owns the property forever.
D) The holder of a life estate only owns the land during the measuring life.

Question 41

Which of the following statements is true regarding the trespass to personal property tort?

A) To establish the tort, the tortfeasor should have harmed the property.
B) It involves accidentally interfering with the possession and control of another's personal property.
C) The trespass to personal property tort is more severe than conversion.
D) Taking the property out of the owner or possessor's control is enough for the tort to be committed.

Question 42

What is a 'gifts causa mortis'?

A) A gift that is sold by the donee to someone else
B) A completed gift which is taken back by the donor
C) A conditional gift where the donor gives a gift to the donee because the donor is contemplating the possibility of death
D) A gift given by a donor with an expectation of receiving some consideration in return

Question 43

Which of the following statements is true regarding a stolen property?

A) One who steals personal property acquires title to the property.
B) One who steals personal property can convey title to a buyer by selling the property to the buyer.
C) The true owner retains the right to the goods, even though he or she is not in possession of them.
D) A person who purchases a stolen property can acquire the title of the stolen property if can prove that at the time of purchasing the property, he did not know that the property was stolen.

Question 44

The one who makes a will is called a _____.

A) testator
B) tenant
C) donor
D) grantor

Question 45

Which of the following statements is true regarding a gift?

A) A valid completed gift cannot be taken back by the donor.
B) The donor gives the property to another with the intention of receiving some consideration in return.
C) The donee cannot bequeath the gift to someone else through a will.
D) The donee cannot sell the gift.

Question 46

The one who gifts his personal property to someone is called a _____.

A) testator
B) tenant
C) donor
D) grantor

Question 47

A _____ is a legal document providing for the disposition of the property of the one making it after his or her death.

A) summons
B) deed
C) contract
D) will

Question 48

The one who receives some personal property as a gift is called a _____.

A) plaintiff
B) donee
C) grantee
D) life tenant

Question 49

Whish of the following statements is most likely to be true regarding lost property?

A) It is a personal property to which an owner has relinquished all right and title.
B) It can be acquired by someone only through a validly executed will.
C) The finder has superior claim to the property against all except the true owner.
D) The owner of the premises where the property is found is entitled to claim the property.

Question 50

Accounts receivable is most likely to be an example of _____ property.

A) personal
B) real
C) property
D) intellectual

Question 51

A mislaid property is a personal property:

A) that is acquired by someone through a validly executed will.
B) that has been placed somewhere by the owner or rightful possessor and he or she has forgotten where the property is located.
C) to which an owner has relinquished all right and title has been abandoned.
D) that the owner has accidentally allowed to leave his or her possession and control.

Question 52

Which of the following statements is NOT true regarding a will?

A) The testator can revoke the will.
B) A person who is given something in the will can claim it before the death of the testator.
C) A will can be changed any time until the death of the testator.
D) A will is not effective until the testator dies.

Question 53

The tort of trespass to real property can be established if:

A) the trespasser enters the property with the intention to harm.
B) intentionally comes onto the property.
C) the trespasser harms the property.
D) the owner or possessor of the real property has given permission to the trespasser to be on the property.

Question 54

Which of the following statements is true regarding conversion?

A) It is virtually excluding the owner from the property and treating the property as if it belongs to the converter.
B) It involves accidentally interfering with the possession and control of another's personal property.
C) The trespass to personal property tort is less severe than conversion.
D) Taking the property out of the owner or possessor's control is enough for the tort to be committed.

Question 55

Who can claim a mislaid property?

A) Only the true owner can claim the mislaid property.
B) The finder of the mislaid property can claim the property irrespective of the true owner.
C) Possession of the mislaid property automatically goes to the government.
D) The owner of the premises where the property is found is entitled to claim the mislaid property if the true owner is not found.

Question 56

What is eminent domain?

Question 57

Which of the following statements is true regarding the trespass to real property tort?

A) This tort becomes applicable even when somebody accidentally comes on the property.
B) This tort cannot be established if the trespasser does not enter the land with the intent to harm.
C) Harm to the real property should be proved to establish the tort of trespass to real property.
D) The rental agreement that gives exclusive possession and control to the tenant can form the basis of a trespass to real property action.

Question 58

A lost property is a personal property:

A) that is acquired by someone through a validly executed will.
B) that has been placed somewhere by the owner or rightful possessor and he or she has forgotten where the property is located.
C) to which an owner has relinquished all right and title has been abandoned.
D) that the owner has accidentally allowed to leave his or her possession and control.

Question 59

Personal property to which an owner has relinquished all right and title and which is not given to someone through a validly executed will has been _____.

A) mislaid
B) abandoned
C) lost
D) bequeathed

Question 60

What is real property?

Question 61

Describe a will.

Question 62

List the various ways in which a person can acquire title to personal property.

Question 63

Explain with an example joint tenancy with right of survivorship.

Question 64

Discuss sole ownership.

Question 65

What is reversion?

Question 66

What are the three requirements that must be fulfilled to create a valid complete gift?

Question 67

How is title to real property transferred?

Question 68

What are the various requirements that must be fulfilled to establish the tort of trespass to real property?

Question 69

What is an abandoned property?

Question 70

Discuss the fee simple property interest.

Question 71

With reference to property interest, what is the difference between remainder and reversion?

Question 72

Discuss the life estate interest in property.

Question 73

What is an adverse possession?

Question 74

What is a mislaid property? Who can claim it?

Question 75

Discuss tenancy in common.