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