Exam 49: Real Property

Real property is commonly referred to as "realty."

Of the co-ownership interests, which of the following is the most common?

A[n] ________ account is an account maintained by a neutral third party into which a deposit on property is placed until all necessary steps for a transfer of property can be made.

Lewellyn contracts with Carnea to come and pick all the apples he wants and take them home. This is an example of a(n) ________

Yi Seul buys a house from Jackson but does not record her ownership interest. Later, Jackson dishonestly sells the same house to Eva who had checked ownership at the courthouse but saw no mention of Yi Seul. After she paid Jackson, Eva recorded her property interest at the courthouse. Eva, who thought that Yi Seul was renting the house from Jackson, then wrote to Yi Seul asking her to move. Who is entitled to the house? What do you believe ethically should be done, assuming Jackson cannot be found?

Which of the following refers to government restriction of property use?

If a piece of property is divided and one portion is ________ as a result, an easement by necessity is created.

List the hierarchy of estates from highest to lowest in ownership interests.

Valmar and Meline decide to divorce. The marital real property that they owned as tenants by the entirety now becomes ________

An easement or profit is ________ when it runs with the land adjacent to the property on which it exists.

[Family Dispute] When Leona and Oscar married, they both had children from previous marriages. After their marriage, Leona and Oscar purchased a home together as tenants by the entirety and lived there for many years. Oscar died when he was 93 and Leona was 95. Oscar's will left any property he owned to his son, David, who promptly told Leona that she needed to get out of the house. Leona told him to forget it. Leona died a week later. Her will left everything she owned to her daughter, Mina, who moved in the home and refuses to leave. Michelle, who had loaned Oscar $10,000, has filed a claim against any heir of Oscar or Leona, including David and Mina, claiming an interest in the home to satisfy the debt Oscar owed her. -Which of the following would be the most likely result regarding Mina's claim to the house?

A ceiling fan that was purchased at a local hardware store and then is attached to the ceiling becomes ________ to the property.

"To Geraldo for life" is an example of which type of estate?

Under which of the following circumstances would a landlord be permitted to enter the leased property during the term of a lease?

Andre's city has zoning regulations which govern the placement of a dwelling on property. Andre wants to build a new garage which would likely violate the zoning laws as it would extend beyond the space on which he is allowed to build a dwelling. What is Andre's best option if he wants to build the garage in that particular place on his property?

Which of the following refers to a person's present right to future property ownership and possession?

[Disgruntled Buyer] Ciaran lived in his home for five years without doing any upkeep of any type. He was aware that the roof leaked, that he had defective piping, and that the air conditioning did not work, among other problems. He sold the home to Luisa. He did not tell her anything about the problems with the house. Shortly after Luisa moved in, there was a thunderstorm resulting in water streaming down from the ceiling. Within a few weeks of her moving in, pipes began to burst resulting in significant water damage. The air conditioner also failed to work when she turned it on for the first time. Luisa demanded that Ciaran refund her purchase price and take back the house. Ciaran sent her a letter providing as follows: Dear Luisa, Caveat emptor. You have marketable title. Regards, Ciaran Luisa is furious and wants to sue. -Which of the following is meant by Ciaran's statement that Luisa has marketable title?

A ________ is an instrument that conveys real property from one owner to another.

What occurs when the holder of a life estate uses the property in a way that reduces the value of the estate that a future holder will receive?

Which of the following statements is false regarding the extent of real property ownership rights?