BLAW Chapter 42 Exam 2
warranty deed
a deed that provides the greatest amount of protection for the grantee
terminates
a lease usually ___ when its term ends
life estate
an estate that exists for the duration of the life of some specified individual, usually the holder of the estate
real property
consists of land and the buildings, plants, and trees that are on it
enjoyment, use
flights over private land normally do not violate property rights unless the flights are so low and so frequent that they directly interfere with the owner's ___ and ___ of the land
concurrent ownership
joint ownership
fee simple
laws, including applicable zoning regulations, noise regulations, and environmental laws may limit a ___ owner's ability to use the property in certain ways
adverse possession
obtaining title to land without delivery of a deed, and without the consent of, or payment to, the true owner
airspace, soil/minerals
property owners have rights to the ___ above the land, and the ___ beneath it
will, inheritance
property that is transferred on an owner's death is passed either by ___ or by state ___ laws
adverse possession
requirements for ___ 1. possession must be actual and exclusive 2. possession must be open, visible, and notorious 3. possession must be continuous and peaceable for the required period of time 4. possession must be hostile and adverse
commercial lease
state statutes often allow tenants and landlords more flexibility in negotiating the terms of a ___
just compensation
the U.S. constitution and state constitutions require that the government pay ___ to the landowner, when invoking eminent domain
adverse possession doctrine
the ___ punishes owners who do not take action when they see adverse possession, and rewards possessors for putting land to productive use
subsurface rights
the ownership of minerals, oil, and natural gas under the land
eminent domain
the power of a government to take land from private citizens for public use on the payment of just compensation
easement
the right of a person to make limited use of another person's real property without taking anything from the property
right of survivorship
the right of a surviving joint tenant to inherit a deceased joint tenant's ownership interest
the taking
the taking of private property by the government for public use through power of eminent domain
legal, injure
the tenant normally may make any use of the leased property provided the use is ___ and does not ___ the landlord's interest
rent
the tenant's payment to the landlord for the tenant's occupancy or use of the landlord's real property
conveyance
the transfer of title to real property from one person to another by deed or other document
fixture
An item of personal property that has been converted to real property by being permanently affixed to the realty.
A) by sale, by gift, through a will, through adverse possession, and through eminent domain
Methods for transferring title to real estate include: A) by sale, by gift, through a will, through adverse possession, and through eminent domain B) by sale, through a will, by default, and through adverse possession C) by sale, by gift, through a will, through bankruptcy, and through eminent domain D) by sale, by gift, by theft, and through eminent domain
nonpossessory interests
1. easements 2. profits 3. licenses
ownership interests
1. fee simple 2. life estate 3. concurrent ownership
leasehold estates
1. fixed-term tenancy (tenancy for years) 2. periodic tenancy 3. tenancy at will 4. tenancy at sufferance
B) giving the tenant possession of the leased property
A landlord's duties include: A) keeping the style of the leased property up to date B) giving the tenant possession of the leased property C) paying the tenant for yard work done at the leased property D) purchasing furniture for the leased property
A) receiving rent according to the lease
A landlord's rights include: A) receiving rent according to the lease B) quiet enjoyment of the property C) having three month's notice before tenant can terminate a least D) being told about issues that need repair
heirs
On a fee simple owner's death, the interests in the property pass down to the owner's ___, even in the absence of a will
D) fixed-term tenancy
Signing an 18-month lease on a two-bedroom townhouse with a monthly rent of $900 creates a: A) tenancy at will B) periodic tenancy C) tenancy by the entirety D) fixed-term tenancy
D) defects of title
The process of examining public records to determine if there are any claims on a piece of real property before its ownership is transferred is equivalent to an examination for: A) leasehold interests B) warranty of habitability C) recording statutes D) defects of title
B) the grantor (seller) of the property has ownership of the property free from undisclosed encumbrances and free from defects
Which is the correct definition of "marketable title"? A) the mortgage for this title is eligible for refinancing B) the grantor (seller) of the property has ownership of the property free from undisclosed encumbrances and free from defects C) the price of the property is a good value for the buyer D) the title to the property is being sold in a publicly advertised real estate market
A) possession must be actual and exclusive B) possession must be open, visible, and not secret D) possession must be hostile, against the true owner's wishes
Which of the following are common law requirements for transfer of title by adverse possession? choose 3 answers A) possession must be actual and exclusive B) possession must be open, visible, and not secret C) possession must be continuous for 35 years D) possession must be hostile, against the true owner's wishes
D) cabinets attached to the wall of a garage
Which of the following is an examine of a fixture? A) a refrigerator in the kitchen of a house B) a child's swings that is in the backyard of a house C) a television that is attached to a wall bracket D) cabinets attached to the wall of a garage
gifts
___ of real property are common, and they require deeds even though there is no consideration
implied warranty of habitability
an implied promise by a seller of a new house that the house is fit for human habitation, or the implied promise by a landlord that rented residential premises are habitable
leasehold estate
an interest in real property that gives a tenant a qualified right to possess and/or use the property for a limited time under a lease
warranty deeds
common ___ include the following covenants (promises) 1. covenant that the grantor has title to, and the power to convey the property 2. covenant of quiet enjoyment 3. covenant that transfer is made without knowledge of adverse claims of third parties
land
includes the soil on the surface of the earth and the natural or artificial structures that are attached to it
joint tenancy
joint ownership of property in which each co-owner owns an undivided portion of that property that passes to the surviving joint tenant(s) in death
tenancy in common
joint ownership of property in which each party owns undivided interest that passes to their heirs at death
terminates
joint tenants can transfer their rights by sale or by gift to another person without the consent of the other joint tenants. Doing so ___ the joint tenancy
lease contract
landlord-tenant relationships are established by ___
mitigate
landlords have a duty to ___ their damages in cases of abandonment and reasonably attempt to lease the property to another party
B) periodic tenancy
When a tenant is allowed to remain in possession of the residence after the expiration of a fixed-term tenancy by continuing to pay monthly rent, the tenancy has become a: A) tenancy at sufferance B) periodic tenancy C) tenancy for months D) tenancy at will
sublease
a tenant's transfer of all or part of the leased premises to a third person for a period shorter than the lease term
deed
an easement or profit can be terminated by ___ it back to the owner of the land that is burdened by it
merged
if the owner of an easement or profit becomes the owner of the property burdened by it, then it is ___ into the property
in writing
in most states, statutes require leases for terms exceeding one year to be ___
real property
plant life, both natural and cultivated, is considered to be ___
damage
tenants are held responsible for any ___ to the premises that they cause, intentionally or negligently, and may be held liable for the cost of returning the property to the physical condition it was in when the lease began
assignment
tenants who transfer there entire interest in the leased property to a third person have agreed to an ___ of the lease
deed
a document by which title to real property is passed
working order, construction
in implied warranty of habitability, the seller of a new home essentially warrants that it is in reasonable ___ and is of reasonable sound ___
profit
in real property law, the right to enter onto another's property and remove some part of the land itself or some product of the land
license
in the context of real property, a revocable right/privilege to enter another person's land
possession, use, maintenance, and rent
rights and duties of landlords and tenants
valid deed
a ___ must contain 1. the names of the grantor and grantee 2. words evidencing the intent to convey the property 3. legally sufficient description of the land 4. grantor's signature 5. delivery
possession
a landlord is obligated to give a tenant ___ of the property that the tenant has agreed to lease
quiet enjoyment
a landlord promises that during the lease term, neither the landlord nor anyone having superior title to the property will disturb the tenant's use and enjoyment of the property
eviction
a landlord's act of depriving a tenant of possession of the leased premises
D) revisionary interest
a landlord's right in property that he has leased to a tenant is called a: A) life estate B) fee simple estate C) leasehold interest D) revisionary interest
abandonment
a lease can be terminated by a tenant's ___. They were still obligated to pay the rent for the full term of the lease
purchases
a lease can be terminated if the tenant ___ the leased property from the landlord during the term of the lease
fixed-term tenancy
a type of tenancy under which property is leased for a specified period of time, such as a month, year, or period of years
abandoning it
an easement or profit can be terminated by ___ and creating evidence of intent to relinquish the right to use it
fee simple
an owner with an entire bundle of right to the land that is entitled to use, possess, or dispose of the property as they choose during their lifetime
sellers duty to disclose
any known defect that materially affects the value of the property, and that the buyer could not reasonably discover
the new owner
if a landlord transfers complete title to the leased property to another person, the tenant becomes the tenant of ___. They may collect subsequent rent but must abide by the terms of the existing lease
terms of the will
if the owner of land dies with a will, the land passes in accordance with the ___
state inheritance statutes
if the owner of land dies without a will, ___ prescribe how and to whom the property will pass