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Exam 49: Real Property

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Question 21

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A[n] ______ is an irrevocable right to use some part of another's land for a specific purpose without taking anything from it.

A) Appurtenance
B) Profit
C) Easement
D) Fixation
E) Joint use

F) A) and D)
G) C) and D)

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Question 22

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Patricia buys a house from Jake but does not record her ownership interest. Later, Jake dishonestly sells the same house to Paula who had checked ownership at the courthouse but saw no mention of Patricia. After she paid Jake, Paula recorded her property interest at the courthouse. Paula, who thought that Patricia was renting the house from Jake, then wrote to Patricia asking her to move. Who is entitled to the house? Who do you believe that ethically should be done assuming Jake cannot be found?

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In many states, Paula would ha...

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Question 23

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Real property is commonly referred to as "realty."

If a piece of property is divided and one portion is landlocked as a result, an easement by ______ is created.

A ______ estate is the most complete estate a person may have.

A ______ is a person's present right to future property ownership and possession.

Sam openly used a trail on Kathy's farm to go fishing at the river for 30 years. Kathy knew that he did so. She became angry at him over an event at the Senior Citizen's Center and told him that he could no longer cut across her farm. What legal recourse, if any, would Sam have, and why?

In Japan adverse possession for ______ years leads to a transfer of ownership as long as the possessor began with a nonnegligent good-faith belief that he or she had legal title to the property.

As set forth in the text, describe a cooperative including typical rules of governance and the penalty if a member violates the rules.

Subleasing of leased property by the tenant to another party is permissible unless specifically prohibited by the lease.

Unreasonable zoning may constitute a constructive taking of property by the government.

A[n] ______ account is an account maintained by a neutral third party into which a deposit on property is placed until all necessary steps for a transfer of property can be made.

Transfer of property is initiated by the ______ of the deed.

Which of the following refers to government restriction of property use?

"Property Claims." Bruce sells his home to Sally and her mother, Ruthy. The deed and documents of ownership held by Sally and Ruthy are written such that Sally and Ruthy may each sell or devise her interest in the property. Bruce provides Sally and Ruthy with a general warranty deed. The deed and other documents of sale contain an easement giving George a right to cut across the property in order to obtain access to an adjoining lake. George had purchased the easement from Bruce a few years earlier. After Sally and Ruthy moved in, they saw George cutting through the yard with his fishing pole. They told him to get out. He told them about the easement, but Sally told him that she was the new owner and that she was not accepting it. The next week Alice, the next door neighbor, came over to visit and told Sally and Ruthy that she actually owned a good bit of the yard that was conveyed to Sally in her deed from Bruce and that she would like to sell it to Ruthy and Alice. Alice explained that some years prior to Bruce's ownership, she had purchased the property from a previous owner. It turns out that Alice had actually recorded her interest, but it had been inadvertently missed when the property was sold to Sally and Ruthy. Sally calls Bruce and tells him to straighten out the problem with Alice. Bruce tells her that he is finished with the property and that all problems now belong to her and Ruthy. -Which of the following is the most likely type of ownership held by Sally and Ruthy?

The duration of one's ownership interest and the power one has over using the land depends on the type of ______ one is said to hold.

Restrictive covenants are promises to use or not use land in particular ways.

Set forth and discuss two exceptions that may be applied to alter the rule that fixtures remain when a tenant moves.

A ______ estate is granted for the lifetime of an individual with the right to possess the property terminating at the individual's death.

A[n] ______ deed is the most commonly used deed to transfer property and contains certain promises by the grantor.