Exam 8: The Property System

The creation of private property rights has been a contributing factor to China's strong economic growth.

The concept of "finders keepers" is not applicable to a treasure trove.

There are no legal restrictions to the destruction of private property.

What is fungible property? Give some examples.

What happens when someone dies intestate?

Residential leases typically last for longer periods of time than commercial leases.

Generally,the donor of a gift must intend to gift the property.

A bona fide purchaser is a purchaser who takes title in good faith,with no knowledge of competing claims to title.

Moveable,tangible personal property is _____.

Which of the following statements is true of private property?

Ouster is the constructive eviction of a lawful tenant.

A partition is a method of dividing real property.

Any ownership interest in real property may be leased.

Leases generally must be in writing to be enforceable against the defendant.

Scope of _____ matters because it determines what can or cannot)be done with the land.

The primary purpose of retailers such as Wal-Mart is to sell personal property.

An)_____ is something that used to be personal property but has become attached to the land so that it is legally a part of the land.

Which of the following statements is true about a deed?

Real estate is a term that refers to ownership interests.

Identify the correct statement about abandoned property.