Exam 25: Real Property and Land Use Regulation

What is a lease?

A right of possession that returns to the grantor after the expiration of a limited or contingent estate is known as a(n)________.

Which of the following provisions protects the interest of a joint tenancy upon the death of a joint tenant?

A(n)________ is an estate in which the owner has a present possessory interest in the real property.

A bridge is an example of real property.

The difference between a qualified fee ownership and a fee simple ownership is that a qualified fee ownership can be ________.

The power of eminent domain allows the government to take private property for public use after paying just compensation.

Local laws that are adopted by municipalities and local governments to regulate land use within their boundaries are known as ________ ordinances.

A remainder is an example of a future interest.

The ________ Clause of the Fifth Amendment to the U.S.Constitution allows the government to take private property for public use.

Plant life and vegetation growing on the surface of land are considered ________ property.

The ________ is a federal statute that makes it unlawful for a party to refuse to sell,rent,finance,or advertise housing to any person because of his or her race,color,national origin,sex,religion,disability,or family status,subject to several exceptions.

A ________ is a tenancy created when a tenant retains possession of property after the expiration of another tenancy or a life estate without the owner's consent.

Jonas is a successful investment banker who earns $400,000 per year.He marries Penny,a nurse at a county hospital.At the time of their marriage,Jonas owns real estate worth $1 million and securities worth $1.5 million,while Penny has no savings or property.After four years,Jonas and Penny opt for a divorce.Over the four years of their marriage,Jonas earns $400,000 in the first two years and $500,000 in the remaining two.Penny earns $25,000 in the first three years and $150,000 in the final year of their marriage.Their living expenses were $130,000 per year,and they have $1,450,000 of their earnings saved in a bank account.During the marriage,Jonas's real estate increases in value to $1.5 million,and his securities increase in value to $3 million.If they file for divorce in a state that recognizes community property,what amount would each receive?

When does a joint tenancy become a tenancy in common?

The death of one of the parties of a tenancy at will does not terminate the contract.

Give an account of zoning.What are nonconforming uses?

The compensation provided by the government for its exercise of the power of eminent domain is final and cannot be disputed further.

To obtain title under adverse possession,the adverse possessor must physically occupy the property.

A deed can only be used to transfer a fee simple absolute interest in real property.