Deck 13: Law of Property: Real and Personal

Question 1

A(n) ________ is a contract that transfers possessory interest in a property from the owner to the tenant.

A)lease
B)license
C)accession
D)fee tail

Answer 1

A

Question 2

Kathy's property is landlocked. The only possible route to her property crosses George's farm. Which of the following property interests provides Kathy the right to use George's property?

A)conditional estate
B)easement by necessity
C)easement by prescription
D)leasehold interest

Answer 2

B

Question 3

Which of the following statements is true of a conditional estate?

A)It is the present right to own and possess the land in the future.
B)When a person's interest terminates, the interest must be transferred to the former owner.
C)It can be set up so that failure to meet a condition terminates the estate.
D)It is the right to own and possess land until one dies, subject to the condition that the property cannot be used in such a way as to destroy its value.

Answer 3

C

Question 4

In which of the following cases does an easement by prescription arise?

A)The state acquires a person's property through condemnation.
B)A power company enters into a written agreement to lay cables under one's front yard.
C)A neighborhood family openly uses another's back yard as a short cut to the beach every day for 25 years.
D)A person leases out his garage for the purpose of storing furniture.

Question 5

Simon owns a property. He may not destroy its value to future holders. After his death, the property will pass to Rachel. Which of the following interests in real property does Rachel have?

A)life estate
B)future interest
C)conditional estate
D)fee simple absolute

Question 6

________ interest provides the right to own and possess the land until one dies, but forbids the owner from using the property in such a way as to destroy its value to future holders.

A)Fee simple absolute
B)Life estate
C)Future interest
D)Conditional estate

Question 7

An easement by prescription arises when ________.

A)one openly uses a portion of another's property for a statutory period of time
B)a piece of property is divided and, as a result, one portion is landlocked
C)the landowner expressly agrees to allow the holder of the easement to use the land in question
D)the landowner transfers possessory interest for an agreed-upon period

Question 8

William owns a life estate in a farm. On his death, fee simple absolute ownership of the land will pass to James. Which of the following interests in real property does James have?

A)an easement
B)a life estate
C)a future interest
D)a leasehold estate

Question 9

Mary owns a farm. She has the right to use it for any legal purpose but must grow a certain quantity of wheat on it every year. If she fails to grow this quantity of wheat, her right to that land terminates. Which of the following interests in real property does Mary have?

A)easement
B)conditional estate
C)life estate
D)fee simple absolute

Question 10

Which of the following is a feature of a leasehold?

A)It is an ownership interest.
B)It is the present right to possess and own land in the future.
C)The person who has a leasehold is entitled to use the property until a certain condition occurs.
D)The person who has a leasehold is usually entitled to exclude the property owner for the period of the lease.

Question 11

A fixture will not be considered as a part of the realty when ________.

A)the fixture is permanently attached to the realty
B)the parties value the fixture to be worth less than $500
C)the fixture is affixed in conjunction with the lease of a property for a business
D)the parties have agreed in writing to treat that fixture as personal property

Question 12

________ interest provides the right to own and possess land against all others, without any conditions.

A)Fee simple absolute
B)Conditional estate
C)Life estate
D)Easement

Question 13

Which of the following estates is the most complete estate?

A)easement
B)life estate
C)fee simple absolute
D)leasehold estate

Question 14

Which of the following statements is true of the extent of ownership of land?

A)A landowner is legally entitled only to 500 ft of airspace above his or her land.
B)A landowner has to obtain mineral rights separately from the government.
C)A landowner may sell mineral rights to another person.
D)A landowner has unrestricted rights to use the water flowing across or underneath one's property.

Question 15

Matthew owns a ranch. He has the right to own and possess that land until his death. When he dies, the ranch will pass to his heirs. Which of the following interests in real property does Matthew have?

A)easement
B)future interest
C)leasehold estate
D)fee simple absolute

Question 16

Which of the following is the best example of an easement?

A)Thelma has the right to receive Jane's property when she dies.
B)Phoboes Power Company has the right to run power lines across Jane's property.
C)Royal Blue hotel temporarily allows Ralph to stay on their property.
D)Jane acquires stock in the corporation that owns an apartment and obtains a permanent lease on one unit.

Question 17

Debra owns a farm. She has the right to own and possess the farm until her death. She is not allowed to waste the property, and she cannot use the property in such a way as to destroy its value to future holders. Which of the following interests in real property does Debra have?

A)fee simple absolute
B)conditional estate
C)life estate
D)future interest

Question 18

Which of the following is a fixture?

A)a portable television set left behind by the tenant
B)a built-in microwave oven installed by the tenant
C)clothing left behind by the tenant
D)the back yard of a residence that is a part of the original structure

Question 19

Alex leases property from Sandra for business. Alex opens a hardware repair shop in this property. He affixes welding equipment to the property. After a period of time, Alex decides to move his business to a different location. Which of the following statements is true of this scenario?

A)Alex may not move the welding equipment, as it is now Sandra's property.
B)Alex may move the welding equipment only if a written agreement states that the parties will treat the welding equipment as his personal property.
C)Alex may not move the welding equipment, as it is essential to the functioning of the structure.
D)Alex may move the welding equipment, as the welding equipment is a trade fixture.

Question 20

Which of the following statements is true about fixtures?

A)Freestanding appliances are considered to be fixtures.
B)An item that is not permanently affixed to the land cannot be considered as a fixture.
C)If a tenant attaches an item permanently to the realty, it is no longer the personal property of the tenant.
D)When a trade fixture is attached to the realty, it is no longer the personal property of the business tenant.

Question 21

In which of the following types of ownership is the ownership interest divided among the other owners upon an owner's death?

A)joint tenancy
B)tenancy in common
C)tenancy by the entirety
D)fee simple absolute

Question 22

In which of the following types of ownership is the ownership interest transferred to an owner's spouse upon his or her death?

A)joint tenancy
B)tenancy in common
C)tenancy by the entirety
D)fee simple absolute

Question 23

Which of the following statements is true about easements?

A)One who has an easement is entitled to exclude all others, including the property owner for the period of the agreement.
B)One who has an easement is entitled to use the property for any legal purpose that does not destroy the property's value.
C)An easement by prescription arises when the landowner enters into a contract to allow the land to be used for a specific purpose.
D)An easement by necessity arises when a piece of property is divided and, as a result, one portion is landlocked.

Question 24

Which of the following types of ownership allows co-owners to have unequal shares?

A)joint tenancy
B)tenancy in common
C)periodic tenancy
D)tenancy at will

Question 25

Which of the following statements is true about joint tenancy?

A)All the co-owners own equal shares of the property.
B)Upon the death of the tenant, his or her heirs receive the property interest.
C)An owner may not sell his or her shares in the interest without the consent of the other owners.
D)Owners' interest in the property cannot be attached by creditors.

Question 26

Which of the following statements is true about tenancy in common?

A)All the co-owners must own equal shares of the property.
B)Upon the death of an owner, his or her property interest is divided among the other owners.
C)Owners' interest in the property cannot be attached by creditors.
D)Owners may sell their interest in the property without the consent of other owners.

Question 27

Only when a deed has been _______ is the deed said to have been executed.

A)signed by the grantor and the grantee
B)delivered to the grantee or to a predetermined third party
C)accepted by the grantee
D)filed with the appropriate county office

Question 28

________ exists only when co-owners are a married couple.

A)Tenancy in common
B)Tenancy by the entirety
C)Joint tenancy
D)Easement by prescription

Question 29

Which of the following does the covenant of seisin promise?

A)The grantor owns the interest that he or she is conveying.
B)The grantor controls an easement in the property he or she is conveying.
C)The grantor owns a conditional estate in the land.
D)The grantor has complied with all CC&Rs.

Question 30

Which of the following is a feature of tenancy by the entirety?

A)One owner is not permitted to sell his or her interest in the property without the consent of the other owner.
B)Upon divorce, tenancy by the entirety automatically becomes joint tenancy.
C)Upon the death of an owner, his or her property is divided among the other owners.
D)All the owners' interest in the property can be attached by one of the owners' creditors.

Question 31

Which of the following is the first step in the conveyance of property?

A)acceptance of the deed by the grantee
B)delivery of the deed
C)execution of the deed
D)recording of the deed

Question 32

Which of the following statements is true of tenancy by the entirety?

A)Upon the death of an owner, his or her property interest is divided among the other owners.
B)Upon divorce, tenancy by the entirety automatically becomes tenancy in common.
C)Owners may sell their interest in the property without the consent of the other owners.
D)Creditors of only one owner may attach the property.

Question 33

Which of the following does the covenant for quiet enjoyment promise?

A)The property is reasonably free of loud noises.
B)The grantor will defend the grantee's title if it is challenged.
C)The property is free of easements and covenants.
D)The grantees will own the property as tenants by the entirety.

Question 34

In which of the following types of ownership does the ownership interest transfer to a person's heirs upon his or her death?

A)joint tenancy
B)tenancy in common
C)tenancy by the entirety
D)life estate

Question 35

In the context of condominiums, "CC&Rs" refers to ________.

A)Commercial Codes and Regulations
B)Conventional Contracts and Releases
C)Covenants, Conditions, and Restrictions
D)a cooperative's credit and restitution documents

Question 36

Which of the following does the covenant of further assurances promise?

A)The owner has included all the required covenants in the deed.
B)There are no easements on the property being conveyed.
C)The grantor will provide the grantee with any additional documents that the grantee may require to perfect his or her title to the property.
D)The grantee will grant an easement by necessity to the grantor if it is required for the grantor to access his or her property.

Question 37

Charlie owns a building. He enters into a contract with Atlaes Inc. that allows it to place a cell phone tower on top of his building. Which of the following interests in real property does Atlaes Inc. have?

A)leasehold estate
B)easement by express agreement
C)conditional estate
D)license

Question 38

The ________ is a deed that simply transfers to the grantee the interest that the grantor owns in the property.

A)general warranty deed
B)bargain and sale deed
C)quitclaim deed
D)deed of trust

Question 39

A(n) ________ is an interest in real property that provides the public a temporary right to enter a business for the purpose of purchasing goods or services.

A)license
B)leasehold
C)conditional estate
D)easement

Question 40

Which of the following is the final step in the conveyance of property?

A)acceptance of the deed
B)delivery of the deed
C)execution of the deed
D)recording of the deed

Question 41

A tenant's right to occupy property in a co-ownership varies with the type of tenancy.

Question 42

Property rights are static.

Question 43

Which of the following statements is true of voluntary transfers of personal property?

A)All transfers of ownership require formal registration with a government agency.
B)A promise to make a gift is enforceable in court.
C)Once made, a gift is an irrevocable transfer.
D)For a valid gift to occur, the donor must accept the gift.

Question 44

Eminent domain is the right of the government to transfer private property from one business to another.

Question 45

Recording is essential for the transfer of ownership.

Question 46

Acquiring ownership of realty by openly treating it as one's own, with neither protest nor permission from the real owner, for a statutorily established period of time is called condemnation.

Question 47

Which of the following statements is true of purchasing property abroad?

A)Foreigners who purchase property in Dubai are not allowed to do business.
B)In Mexico, non-U.S. citizens are allowed to own property within 30 miles from the coastline or 60 miles from any U.S. border.
C)U.S. mortgage companies generally finance purchases of foreign real estate.
D)It is advantageous to purchase property in the European Union, as the political system is likely to remain stable.

Question 48

The owner acquires all the buildings in a condominium ownership interest.

Question 49

Which of the following statements is true of bailments?

A)The person who transfers possession of personal property to another is the bailee.
B)If the bailment is for the mutual benefit of both parties, the bailee is liable for damage to the property caused by the bailee's gross negligence.
C)If the bailment is for the mutual benefit of both parties, then both the bailor and the bailee share responsibility for the damages due to negligence.
D)The parties to a contract cannot limit the liability of the bailee.

Question 50

A piece of property whose owner intentionally placed it somewhere but forgot its location is referred to as ________.

A)abandoned property
B)lost property
C)mislaid property
D)jus relictae

Question 51

In which of the following countries does the purchase of property by a foreigner entitle the foreigner to receive a visa to do business in that country?

A)China
B)Egypt
C)Dubai
D)India

Question 52

In all states, adverse possession is permitted only if the person thinks that he or she was the lawful possessor of the land.

Question 53

A piece of property that has been discarded by its original owner is categorized as ________.

A)abandoned property
B)lost property
C)mislaid property
D)unclaimed property

Question 54

The county office in which recordings of property transfer are to be filed varies by state.

Question 55

In most states, if a bailor refuses to pay the bailee the agreed-on compensation, ________.

A)the title to the bailed item passes to the bailee
B)the bailed item will be sold after a hearing, and the proceeds left after compensating the bailee and covering the costs of the sale will be given to the bailor
C)the bailee must return the bailed property and then sue the bailor for damages
D)the bailed item will be sold after a hearing and the proceeds will be divided between the bailee and the court, with no portion of the proceeds going to the bailor

Question 56

A conveyance of ownership is presumed to be the conveyance of a fee simple absolute unless something to the contrary is stated.

Question 57

Which of the following is an unlawful and unenforceable restrictive covenant?

A)a promise to never construct an apartment building on the property
B)a promise to never sell the land to any person born in China
C)a promise to always use the land for growing cotton
D)a promise to never construct a swimming pool on the property

Question 58

In a leasehold estate, a tenant may move out of the property and sublease it to another party unless prohibited by the lease.

Question 59

A piece of property whose true owner has accidentally or unknowingly dropped it or left it somewhere is categorized as ________.

A)abandoned property
B)lost property
C)mislaid property
D)jus relictae

Question 60

A(n) ________ is a promise by an owner, usually contained in the deed, to use or not use a piece of land in a particular way.

A)easement by prescription
B)quitclaim deed
C)restrictive covenant
D)equitable interest

Question 61

What are the characteristics of a properly drafted deed?

Question 62

A community often allows a nonconforming use of a particular property to remain when the zoning of an area changes.

Question 63

When is a landowner permitted to use his or her land in a manner prohibited by zoning laws?

Question 64

How did the Supreme Court ruling on the Kelo case influence the government's ability to exercise eminent domain?

Question 65

Political stability is a factor to be taken into consideration when investing in real estate in a foreign country.

Question 66

A person who finds abandoned property becomes its owner by possessing it.

Question 67

For a valid gift to occur, the gift delivery must be made with the donative intent.

Question 68

How did the Dolan v. City of Tigard case influence the laws restricting people's use of their property?

Question 69

Explain the rights of a landlord and a tenant in a leasehold estate.

Question 70

A bank account is an intangible property.

Question 71

Zoning that totally destroys the economic value of a property holder's land is considered a constructive taking of the property.

Question 72

Personal property consists only of tangible property.

Question 73

In most states, the finder of lost property has title to the property against all others.

Question 74

Some state laws require that the finder of mislaid property must place an ad in a newspaper.

Question 75

Explain the rights of the owners and the association in a condominium ownership interest.

Question 76

Discuss the consequences of the Michigan state supreme court case of Poletown Neighborhood Council v. City of Detroit and the Detroit Economic Development Corporation.

Question 77

Restrictive covenants may be placed in CC&Rs and enforced by a homeowners' association.