Exam 49: Real Property

A license may be terminated at the will of the licensor.

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?

Under a freehold estate, a person owns property only for a specified number of years.

Technically, land is considered as extending downward to the earth's center and upward indefinitely.

To which of the following parties does the landowner owe a duty to take reasonable steps to discover any danger and a corresponding duty to warn the party of or correct the discovered danger?

If the parties involved agree that personal property will be considered a fixture, it will be deemed to be a fixture without the application of legal tests.

Title to land may be acquired by adverse possession.

Personal property that has become a fixture is still classified as personal property.

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

Which of the following represents a duty owed by a landowner to a trespasser?

Ulysses bought Whiteacre from Gordon but never recorded the deed. Gordon stayed on the property as a tenant for three (3) years. Near the end of the three (3) years, Gordon learned that Ulysses had never recorded the deed. Gordon advertised Whiteacre for sale and Cheryl negotiated with Gordon thinking that Gordon was the owner. Finally, Cheryl checked the records at the recording office and, finding no reason to question Gordon's ownership of the property, purchased Whiteacre from Gordon. Cheryl recorded the deed and Gordon fled with the purchase money. Meanwhile, Ulysses had failed to pay the real estate taxes on Whiteacre for the three (3) years in question thinking it was the responsibility of Gordon, the tenant. Ultimately, Cheryl and Ulysses disputed over the ownership of the property. Decide the case between Cheryl and Ulysses. Also decide whether Ulysses is responsible for the three (3) years of real estate taxes assessed while Gordon occupied the property as a tenant.

A guarantee that the grantor owns the estate conveyed is called a covenant:

Which of the following statements is incorrect about fixtures?

Personal property that is attached to the earth or placed in a building in such a way or under such circumstances that it is deemed part of the real property is called a(n):

An easement is not only a right in the land of another, but it is also a right that belongs to the land that is benefited.

Property may be taken from its private owner and the title acquired by the taking government or public authority under the power of:

The rights of the mortgagor after default include the right to obtain a stay of foreclosure to prevent undue hardship and a right of redemption.

The fact that an item may be unplugged conclusively indicates that the item is not a fixture.

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

Licensees are on the premises with the permission of the landowner.