Property Quiz (48-49)
A bailment must be in writing to be valid.
F
A joint tenant cannot transfer his or her rights by sale or gift without the consent of the other joint tenants.
F
A license is a right to go onto land owned by another and take away some part of the land itself or some product of the land.
F
A quitclaim deed offers the most protection against defects in the title.
F
A sublease releases the tenant from his or her obligations under the lease.
F
An easement is the revocable right of a person to come onto another person's land.
F
For a party to take by adverse possession, the party's possession must be peaceable, and not hostile or adverse
F
Marketable title means that the grantor's ownership is saleable even if there are encumbrances or defects.
F
Persons cannot share ownership rights simultaneously in particular property (including real property and personal property)—one person's interest is always superior.
F
Simply finding something and holding onto it gives the finder legal rights in the property.
F
The rights that accompany a fee simple absolute include the right to use the land for whatever purpose it is best suited, not necessarily for whatever purpose the owner sees fit.
F
Trade fixtures belong to the owner of the property on which they are installed regardless of the purpose of their installation or who installed them.
F
Community property it is created when a real property owner or lessor agrees to convey the right to possess and use the property to a lessee (tenant) for a certain period of time.
FF
A bailee must exercise reasonable care in preserving the bailed property.
T
A finder of mislaid property becomes the caretaker of the property.
T
A fixture is normally included in a sale of land unless the sales contract specifies otherwise.
T
Constructive delivery is a general term for all of those acts that the law holds to be equivalent to acts of real delivery.
T
Property consists of the legally protected rights and interest of a person in anything with an ascertainable value that is subject to ownership.
T
Someone who finds abandoned property acquires title to it and that title is good against the whole world, including the original owner.
T
The implied warranties of merchantability and fitness for a particular purpose extend to bailments that include rights to use the bailed goods.
T