Exam 14: Real Property: Interests and Leases

Ganesh and Madonna own neighbouring pieces of land.One of those parties owns Blackacre and the other owns Whiteacre.Ganesh has a property interest that allows him to drain his reservoir into Madonna's field once a year and prohibits Madonna from erecting any impediment to the drainage ditch.Which of the following statements must be TRUE?

Ashoka has the fee simple in a piece of land called Blackacre.Blackacre is about to be expropriated.This means that

Explain the difference between a possessory interest in land and a non-possessory interest in land.Provide three examples of each.Provide an example of a property interest that combines a possessory element with a non-possessory element.

Ace and Loretta were neighbours.He owned Blackacre and she owned Whiteacre.They purportedly created a restrictive covenant under which she promised that she would not build a pool in her backyard, and that she would prune her trees on an annual basis.Loretta sold Whiteacre to Moira.Moira wants to build a pool in her backyard and she refuses to prune her trees.Which of the following statements is TRUE?

Which of the following statements is TRUE?

Aaliyah owned a piece of land that she rented to Rudy under a commercial lease.Because Rudy consistently failed to pay the rent, Aaliyah exercised the right of distress.That means that she placed Rudy under pressure, or "in distress," by changing the locks on the premises as a way of encouraging him to pay the rent.

Teppo has the fee simple to a piece of land called Blackacre.Laila has a mineral lease that allows her to extract oil from beneath Blackacre.Which of the following statements is TRUE?

Bogdan has the fee simple in a piece of land called Blackacre, which is located in a remote forest.He has not visited it in nearly 25 years.Tina claims that she has acquired a property interest in Blackacre as a result of the process of "prescription." Louise claims that she has acquired a property interest in Blackacre as a result of the process of "adverse possession." Which of the following statements is TRUE, assuming that the terms "prescription" and "adverse possession" are used in the same sense that they appear in the text?

As a general rule, the common areas in a condominium complex are held under co-tenancy, rather than joint tenancy, by all of the owners of the individual units.

Land is sometimes called "real property" because

The word "condominium"

Janet and Tad were neighbours.She owned Whiteacre and he owned Blackacre.They created a restrictive covenant that prohibited Tad from building a fence around his property.Janet gave Whiteacre to Helene as a gift.Tad gave Blackacre to Bentley as a gift.Which of the following statements is TRUE?

The "giant carrot theory" is used to describe

Kimiko has the fee simple to a piece of land called Blackacre.It is sometimes said that "with rights, comes responsibility." Explain an important set of obligations that Kimiko owes to other members of the community as a result of her ownership of Blackacre, and that may result in her being held liable in damages.

Danica rented a commercial property to Goran.Goran now claims relief from forfeiture.On the basis of the materials discussed in the text, explain the circumstances that most likely have led to Goran's claim.

Annalie recently acquired a piece of land called Blackacre, which was already subject to a restrictive covenant.Her lawyer subsequently asked her whether or not she purchased Blackacre.With respect to the restrictive covenant, why is her answer to that question important?

A sublease does not have to contain exactly the same terms as the head lease.

Omar, an elderly bachelor, has the fee simple to a piece of land called Blackacre.He was recently told, however, that ultimately he may not fully own that property.Is that statement correct? How does your answer affect Omar's ability to exploit the contents of the ground beneath Blackacre while he is alive? How does it affect the possible ownership of Blackacre after Omar dies?

Bart leased a piece of land called Blackacre to Aida for two years.Which of the following statements is TRUE?

What is the difference between a reversion and a remainder? When will each type of interest arise?