Exam 49: Real Property

Title to land may be acquired by adverse possession.

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.

An estate in fee simple grants ownership in property for a specific period of time.

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

An easement may be destroyed by an act of the grantor.

Real property includes land and all rights in land.

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?

In general,a mortgagor is under a duty to:

Which of the following statements is incorrect about fixtures?

A condominium and a cooperative are essentially the same.

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:

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

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

In general,any form of property that may be sold or conveyed may be mortgaged.

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

A summarized report of title to property is called:

Which statement is incorrect concerning mortgages?

What type of deed merely transfers whatever interest,if any,the grantor may have in the property,without specifying that interest in any way?

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

Which is not a correct statement about deeds?