BCOR 320 EXAM 5

What is the term for a structure built or permanently placed on land? -a right -a building -a hospitality -a tent

-a building

What is the term for when an owner disposes of property with the apparent intention of disclaiming ownership? -converted property -unclaimed property -abandoned property -mislaid property

-abandoned property

What is the term for the right of an owner of property to any increase in the property? -accession -severalty -repopulation -conversion

-accession

Which of the following would be considered real property? (select all that apply) -airspace above the ground -buildings -underground minerals -automobiles

-airspace above the ground -buildings -underground minerals

Which of the following are examples of personal property? (select all that apply) -houses -clothing -furniture -service marks

-clothing -furniture -service marks

What is the term for a right or interest in land granted to a party to make beneficial use of the land owned by another? -reversion -consideration -conversion -easement

-easement

Title to abandoned property is transferred to the _______________. -state, in trust for the owner -District Court -first person to control it -owner of the land where the property was abandoned

-first person to control it

What is the term for when a person owns land either for life or forever? -easement -estate at will -freehold estate -leasehold estate

-freehold estate

What is the term for a voluntary transfer of property by one person to another, without payment of any kind? -sale -conversion -gift -lease

-gift

The owner of a freehold estate who holds real property in fee simple can ____________________. (select all that apply) -use it in a way that violates zoning rules -give it away -leave it to their heirs -sell it

-give it away -leave it to their heirs -sell it

What form of tenancy exists when two or more owners have equal shares and an undivided interest in property? -joint tenancy -community property -severalty -tenancy in common

-joint tenancy

The term property can refer to which of the following? (select all that apply) -land -intangible possessions -services -tangible goods

-land -intangible possessions -tangible goods

When an individual owns land, they also own which of the following associated with the property? (select all that apply) -mineral rights -the water resources around the land -the air above the land -the town utility cables and poles nearby

-mineral rights -the air above the land

How much consideration is required for a valid gift? -at least half the value of the item -a minimal amount as required by law -no consideration -at least face value for the item

-no consideration

Which of the following are examples of intangible personal property? (select all that apply) -pets -patents -copyrights -clothing

-patents -copyrights

If a landowner chops down a tree and takes the wood, what type of property is the wood? -personal property -marital property -real property -intangible property

-personal property

What is the term for any property that is not real property? -corporate property -personal property -marital property -fixtures

-personal property

When personal property is _____________ real property, it becomes real property. (select all that apply) -removed from -planted in -used to build -attached to

-planted in -used to build -attached to

A landowner purchased a shrub at a nursery and planted it in front of her home. What type of property is the shrub? -personal property -tangible personal property -real property -intangible personal property

-real property

A landowner purchased a shrub at a nursery and planted it in front of her home. What type of property is the shrub? -real property -personal property -tangible personal property -intangible personal property

-real property

What type of property comprises land and everything attached to the land? -real property -intellectual property -intangible personal property -martial property

-real property

When things are _____________ real property, they become personal property. -planted in -removed from -attached to -used to build

-removed from

In the context of property ownership rights, the word "severalty" means ___________. -shared -some -related -separate

-separate

What is the term for when all rights of ownership in a piece of property are held by one person? -severalty -joint tenancy -tenancy in common -accession

-severalty

In a joint tenancy, each owner can claim ownership of ________________, subject to the same right of the other joint tenants. -the entire estate -their equal portion of the estate -up to half of the estate -up to one-third of the estate

-the entire estate

Under the doctrine of accession, who owns the calves born to a cow? -the owner of the cow -the veterinarian who assisted with the. calves birth -the land owner where the calves are born -the first party to possess the calves

-the owner of the cow

Rights to land generally include airspace __________________. -to an indefinite height -up to 20 feet -up to 200 feet -up to 50 feet

-to an indefinite height

The finder of lost personal property holds the items in trust for the ________________. -true owner -finder -manufacturer -state

-true owner

True or false: The saying "Finders keepers, losers weepers" has no basis in law.

True