Question 1

The owner of a condominium unit also owns the common elements in joint tenancy with the other condominium unit owners.

Accepted Answer

A) True 
 B)False

Question 2

Property rights do not exist in air space parcels.

Accepted Answer

A) True 
 B)False

Question 3

John sells some property and the deed reads,"I transfer this property to the Boulder County Rat Kindness Society so long as it is used to promote kindness to rats,and if it ceases to be so used,then it comes back to the grantor (the seller)." The type of ownership estate created is:

Accepted Answer

A)  fee simple absolute 
B)  fee simple defeasible 
C)  fee simple subject to remainder 
D)  life estate 
E)  community property 
A)  fee simple absolute 
B)  fee simple defeasible 
C)  fee simple subject to remainder 
D)  life estate 
E)  community property

Question 4

The concept of real property involves the physical aspects of the land,such as trees,grass,and bushes.

Accepted Answer

A) True 
 B)False

Question 5

Throw rugs and furniture are classified as fixtures.

Accepted Answer

A) True 
 B)False

Question 6

Father owns three parcels of real estate.Father deeds Parcel 1 to his two sons,Andy and Sean,as joint tenants.Father deeds Parcel 2 to his two daughters,Cindy and Debbie,as tenants in common.Father deeds Parcel 3 to his church for "as long as this property is used for church purposes." Father,Andy,Sean,Cindy,and Debbie all die in that order.Who owns these three parcels now,and what ownership interests do they hold? Explain.

Accepted Answer

Parcel 1 went to Bill at Andy's death du

Question 7

In order for fixtures to be included in a sale of a building,the contract must so provide.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following provides that all assets acquired during a marriage,other than gifts and inheritances,belong equally to the two spouses?

Accepted Answer

A)  community property laws 
B)  joint tenancy 
C)  tenancy by the entirety 
D)  marital partnership laws 
E)  spousal equality laws 
A)  community property laws 
B)  joint tenancy 
C)  tenancy by the entirety 
D)  marital partnership laws 
E)  spousal equality laws

Question 9

Real property includes:

Accepted Answer

A)  natural plants growing on the land 
B)  cultivated plants growing on the land 
C)  both A and B 
D)  neither A nor B 
A)  natural plants growing on the land 
B)  cultivated plants growing on the land 
C)  both A and B 
D)  neither A nor B

Question 10

Sam was a very wealthy man who owned numerous pieces of real estate.He owned four parcels with his wife as tenants by the entirety.Sam sold his share of each of these under the following circumstances: He sold the first without his wife's knowledge; sold the second with her knowledge but without her consent; sold the third with her oral consent but without her signature on the deed; and sold the fourth with her consent and signature on the deed.Shortly thereafter,Sam died.What happens to Sam's share of each of these pieces of property?

Accepted Answer

The first three belong to Sam'

Question 11

Two college students who were short of funds parked their VW microbus in a secluded wooded area of a nearby farmer's land.They soon found that this was a great way to live cheaply.Midway through their freshman year,the microbus quit running so it became their home although they could no longer drive it.They mounted solar cells on the roof,among other improvements.They lived there throughout their four years of college.After taking jobs at a big-four accounting firm they continued to use this spot as a weekend getaway a couple of weekends a month.They have now been doing this for 25 years.They have never received permission to be there nor been chased off.Can they acquire the land by adverse possession?

Accepted Answer

Their biggest problems would b

Question 12

Radio towers and bridges are considered to be real property.

Accepted Answer

A) True 
 B)False

Question 13

One of the requirements to acquire property by adverse possession is to occupy the property without the express or implied permission of the owner.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following elements is not required for adverse possession?

Accepted Answer

A)  possession for the statutory period of time 
B)  open,visible,and notorious possession 
C)  hostile and adverse possession 
D)  consent by the owner 
A)  possession for the statutory period of time 
B)  open,visible,and notorious possession 
C)  hostile and adverse possession 
D)  consent by the owner

Question 15

Rachel,Bonnie,and Cindy equally own real property as joint tenants.Cindy sells her one-third interest to Debbie.Neither Rachel nor Bonnie consented to this transfer.Both Rachel and Bonnie die before either Cindy or Debbie.What portion of this realty does Debbie now own?

Accepted Answer

A)  one-third 
B)  two-thirds 
C)  one-half 
D)  all of it 
E)  nothing; because Rachel and Bonnie did not consent to the transfer,it is void 
A)  one-third 
B)  two-thirds 
C)  one-half 
D)  all of it 
E)  nothing; because Rachel and Bonnie did not consent to the transfer,it is void

Question 16

Which of the following is not a requirement in order to obtain property by adverse possession?

Accepted Answer

A)  Possession must be open,visible,and notorious. 
B)  Possession must be with original owner's knowledge that possessor intends to eventually acquire the property through adverse possession. 
C)  Possession must be actual and exclusive. 
D)  Possession must be continuous and peaceful. 
E)  Possession must be hostile and adverse. 
A)  Possession must be open,visible,and notorious. 
B)  Possession must be with original owner's knowledge that possessor intends to eventually acquire the property through adverse possession. 
C)  Possession must be actual and exclusive. 
D)  Possession must be continuous and peaceful. 
E)  Possession must be hostile and adverse.

Question 17

How does an easement appurtenant differ from an easement in gross?

Accepted Answer

A)  An easement appurtenant is in writing. 
B)  An easement appurtenant is permanent. 
C)  The dominant estate of an easement appurtenant is adjacent to the servient estate. 
D)  An easement appurtenant must be recorded. 
E)  The right to enter the land exists only for an easement appurtenant. 
A)  An easement appurtenant is in writing. 
B)  An easement appurtenant is permanent. 
C)  The dominant estate of an easement appurtenant is adjacent to the servient estate. 
D)  An easement appurtenant must be recorded. 
E)  The right to enter the land exists only for an easement appurtenant.

Question 18

Jean's Grandmother,"Moms," lived in an assisted living facility,but had not sold her home of many years.Jean was a special granddaughter of Moms,partly because Jean often visited Moms even though Jean lived several hundred miles away.As a favor to Moms,Jean would go check on her house because otherwise it usually sat vacant.One time Jean got copies of the keys made and moved to the town where Moms lived and moved into Moms' home without Moms knowing about it.Jean lived in it as her own,even bringing her German shepherd with her.The neighbors erroneously assumed that Moms knew Jean was living there.Moms was very appreciative of Jean's long trips to visit her,not knowing that Jean was living in the same town.Although Moms liked Jean very much,she would absolutely not want Jean living in her house.Jean had pulled this off for several years.Her goal was to acquire the house by adverse possession.In these circumstances:

Accepted Answer

A)  Jean has earned the right to the home because of her care for Moms. 
B)  Jean cannot acquire the home through adverse possession from a relative. 
C)  Jean has acquired a life estate pour autre vie. 
D)  Jean can acquire the home by adverse possession if she continues to meet the adverse possession requirements for the required period of time. 
E)  The presence of Jean's vicious German shepherd will prevent her from meeting the "peaceful" requirement of adverse possession. 
A)  Jean has earned the right to the home because of her care for Moms. 
B)  Jean cannot acquire the home through adverse possession from a relative. 
C)  Jean has acquired a life estate pour autre vie. 
D)  Jean can acquire the home by adverse possession if she continues to meet the adverse possession requirements for the required period of time. 
E)  The presence of Jean's vicious German shepherd will prevent her from meeting the "peaceful" requirement of adverse possession.

Question 19

A parcel of property that is owned as tenants by the entirety can be owned by no more than two owners.

Accepted Answer

A) True 
 B)False

Question 20

In real estate law,the distinguishing feature of a profit is:

Accepted Answer

A)  the right to lease the property and keep the rents 
B)  the right to remove something from the property of another 
C)  the right to use the land of another 
D)  the right of an owner to exclude others from the land 
A)  the right to lease the property and keep the rents 
B)  the right to remove something from the property of another 
C)  the right to use the land of another 
D)  the right of an owner to exclude others from the land

Exam 48: Real Property

The owner of a condominium unit also owns the common elements in joint tenancy with the other condominium unit owners.

Property rights do not exist in air space parcels.

John sells some property and the deed reads,"I transfer this property to the Boulder County Rat Kindness Society so long as it is used to promote kindness to rats,and if it ceases to be so used,then it comes back to the grantor (the seller)." The type of ownership estate created is:

The concept of real property involves the physical aspects of the land,such as trees,grass,and bushes.

Throw rugs and furniture are classified as fixtures.

In order for fixtures to be included in a sale of a building,the contract must so provide.

Which of the following provides that all assets acquired during a marriage,other than gifts and inheritances,belong equally to the two spouses?

Real property includes:

Radio towers and bridges are considered to be real property.

One of the requirements to acquire property by adverse possession is to occupy the property without the express or implied permission of the owner.

Which of the following elements is not required for adverse possession?

Rachel,Bonnie,and Cindy equally own real property as joint tenants.Cindy sells her one-third interest to Debbie.Neither Rachel nor Bonnie consented to this transfer.Both Rachel and Bonnie die before either Cindy or Debbie.What portion of this realty does Debbie now own?

Which of the following is not a requirement in order to obtain property by adverse possession?

How does an easement appurtenant differ from an easement in gross?

A parcel of property that is owned as tenants by the entirety can be owned by no more than two owners.

In real estate law,the distinguishing feature of a profit is:

Legal Heritage and the Information Age

Court Systems and Jurisdiction

Judicial, Alternative, and Online Dispute Resolution

Constitutional Law for Business and E-Commerce

Intentional Torts and Negligence

Strict Liability and Product Liability

Intellectual Property and Cyber Piracy

Criminal Law and Cyber Crimes

Nature of Traditional and E-Contracts

Agreement

Consideration and Promissory Estoppel

Capacity and Legality

Genuineness of Assent and Undue Influence

Statute of Frauds and Equitable Exceptions

Third-Party Rights and Discharge

Remedies for Breach of Traditional and E-Contracts

Internet Law and E-Commerce

Formation of Sales and Lease Contracts

Title to Goods and Risk of Loss

Remedies for Breach of Sales and Lease Contracts

Sales and Lease Warranties

Creation of Negotiable Instruments

Transferability and Holder In Due Course

Liability,Defenses and Discharge

Checks, the Banking System, and E-Money

Creditor's and Debtor's Rights

Secured Transactions and Electronic Filing

Bankruptcy and Reorganization

Agency Formation and Termination

Liability of Principals, Agents, and Independent Contractors

Employment,Worker Protection,and Immigration Laws

Labor Law and Collective Bargaining

Equal Opportunity in Employment

Small Businesses, Entrepreneurs, and General Partnerships

Limited Partnerships and Limited Liability Limited Partnerships

Corporate Formation and Financing

Corporate Governance and the Sarbanes Oxley Act

Corporate Acquisitions and Multinational Corporations

Limited Liability Companies and Limited Liability Partnerships

Franchises and Special Forms of Business

Investor Protection and Online Securities Transactions

Ethics and Social Responsibility of Business

Administrative Law and Regulatory Agencies

Consumer Protection and Product Safety

Environmental Protection and Global Warming

Antitrust Law and Unfair Trade Practices

Personal Property and Bailment

Landlord Tenant Law and Land Use Regulation

Insurance

Accountants' Liability

Wills, Trusts, and Elder Law

Family Law

International and World Trade Law

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