Property Quiz (48-49)

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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


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