Exam 49: Real Property

A trade fixture is a fixture that is traded in by the owner when purchasing new fixtures.

Characteristics of the fee simple estate include all of the following except:

Which of the following can constitute an effective delivery of a deed?

The right to cut firewood from another's property would constitute a profit.

A deed that has been properly executed and delivered by the grantor, but has not been acknowledged or recorded, remains binding as between the grantor and the grantee.

A deed, like a contract, must be supported by consideration to be effective.

The general view is that although the owner of land owns the space above the land, such ownership is entirely subject to the rights of flying aircraft, even if the aircraft should interfere with the use of the land and represent a danger to persons or property on the land.

A covenant that passes with the land so that whoever owns the land is bound by or entitled to the benefit of the covenant

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?

Real property includes land, buildings and fixtures, and rights in the land of another.

Personal property generally becomes a fixture if it is so attached to the realty that it cannot be removed without materially damaging the realty.

In general, a mortgagor is under a duty to:

Small children are afforded additional protection against the trespass rule through the "attractive nuisance" doctrine.

A promise that the grantor of an interest in land will execute any additional documents required to perfect the title of the grantee is known as a covenant:

An easement may be created only by deed.

A condominium and a cooperative are essentially the same.

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

Liens on land may be created voluntarily by the owner of land or involuntarily against the wishes of the owner.

A license is different from an easement in that it is a personal, revocable privilege to do something on the land of another.

At common law, the occupier of land owed the same duty to both licensees and invitees.