Exam 48: Real Property

All of the following statements about fixtures are correct,except: ______.

A quitclaim deed must specify what interest is being transferred in order to be valid.

A summarized report of title to property is called: ______.

Legal title to land may be acquired by adverse possession,even though the possessor originally had no right to use or possess the property.

Equipment attached to a rented building by a tenant and used in business is: ______.

Frank has two interests in property.On property "X," Frank has a life estate measured by the life of his Uncle Sal.On property "Y," Frank has a fee simple estate.Frank wishes to transfer,upon his death,his interest in the two properties to his wife,Samantha.Prior to Frank's executing his will,Uncle Sal dies.Frank still wishes to will the properties to his wife,but he now is uncertain whether he has the right to do so.Can Frank will the two property interests to Samantha?

A deed is not effective to pass title unless it is properly recorded.

A fixture is personal property that has been so attached to realty that removing it would cause damage.

In general,any form of property that may be sold or conveyed may be mortgaged.

Which statement is incorrect concerning mortgages?

A __________ is a combination of co-ownership and individual ownership.

Tucker and Hankey were adjoining property owners.Tucker claimed that the fence separating their properties was not located properly and that it should be moved back onto Hankey's land.Hankey claimed that he owned the strip between the fence and the alleged boundary line by adverse possession.He proved that for forty (40)years there had been on the strip in question a barn with a cement floor,which had been built by the person from whom he purchased his land,and that he had been told by the former owner that the fence was the boundary line.The fence consisted of five-foot-high barbed wire set in cement.Did Hankey own the strip by adverse possession?

A landowner owes a duty to a(n)______to take reasonable steps to discover any danger and a corresponding duty to warn the party of,or correct,the discovered danger.

Under race statutes,the first party to record the deed holds title to land.

A license runs with the land and cannot be terminated at the will of the licensor.

In a mortgage assumption,both the original mortgagor and the transferee are liable,and the property is subject to foreclosure by the mortgagee in the event the payments are not made.

A personal,revocable privilege to perform an act or series of acts upon the land of another is called a(n): ______.

A deed is not necessary to transfer title to land when the land is a gift.

A condominium and a cooperative are essentially the same.

The attractive nuisance rule is a defense for landowners when children trespassers are injured.Small children are afforded additional protection against the trespass rule through the "attractive nuisance" doctrine.