Question 1

How is title to real property transferred?

Accepted Answer

The owner of property may at some point wish to no longer own it. Transferring title to the property can occur in several different ways. The owner can give the property away as a gift, will the property to another upon his or her death, or sell the property to another. No matter how the property is transferred it is imperative that the title to the property and the documents transferring title have a specific legal description of the real property being conveyed. If it does not, the transfer is not effective. When someone sells a house or building, it is not enough to simply include the street address of the property in the deed. The full legal description must be given or the transfer will not convey the property to the transferee. The full legal description will generally include the plot number and lot number of the land, which is generally found in the county office of land records (such as the registry of deeds) for the county in which the land is located. It is also important to register the land transaction with the proper land authorities in the county in which the land is located

Question 2

A _____ is a legal document providing for the disposition of the property of the one making it after his or her death.

Accepted Answer

A)  summons 
B)  deed 
C)  contract 
D)  will 
A)  summons 
B)  deed 
C)  contract 
D)  will D

Question 3

The tenant:

Accepted Answer

A)  can will the property to someone else. 
B)  gets the possession of the property for some period. 
C)  has the reversion interest in the property. 
D)  can sell the property. 
A)  can will the property to someone else. 
B)  gets the possession of the property for some period. 
C)  has the reversion interest in the property. 
D)  can sell the property. A

Question 4

Harm to the real property should be proved to establish the tort of trespass to real property.

Accepted Answer

A) True 
 B)False

Question 5

The one who grants a life estate is called a _____.

Accepted Answer

A)  testator 
B)  tenant 
C)  donor 
D)  grantor 
A)  testator 
B)  tenant 
C)  donor 
D)  grantor

Question 6

Which of the following statements is true regarding a stolen property?

Accepted Answer

A)  One who steals personal property acquires title to the property. 
B)  One who steals personal property can convey title to a buyer by selling the property to the buyer. 
C)  The true owner retains the right to the goods, even though he or she is not in possession of them. 
D)  A person who purchases a stolen property can acquire the title of the stolen property if can prove that at the time of purchasing the property, he did not know that the property was stolen. 
A)  One who steals personal property acquires title to the property. 
B)  One who steals personal property can convey title to a buyer by selling the property to the buyer. 
C)  The true owner retains the right to the goods, even though he or she is not in possession of them. 
D)  A person who purchases a stolen property can acquire the title of the stolen property if can prove that at the time of purchasing the property, he did not know that the property was stolen.

Question 7

A mislaid property is a personal property:

Accepted Answer

A)  that is acquired by someone through a validly executed will. 
B)  that has been placed somewhere by the owner or rightful possessor and he or she has forgotten where the property is located. 
C)  to which an owner has relinquished all right and title has been abandoned. 
D)  that the owner has accidentally allowed to leave his or her possession and control. 
A)  that is acquired by someone through a validly executed will. 
B)  that has been placed somewhere by the owner or rightful possessor and he or she has forgotten where the property is located. 
C)  to which an owner has relinquished all right and title has been abandoned. 
D)  that the owner has accidentally allowed to leave his or her possession and control.

Question 8

What is eminent domain?

Accepted Answer

Eminent domain is the government's right

Question 9

Discuss the fee simple property interest.

Accepted Answer

A fee simple interest in real estate is

Question 10

What is an abandoned property?

Accepted Answer

Personal property to which an owner has

Question 11

The holder of a life estate interest can will the property to someone else.

Accepted Answer

A) True 
 B)False

Question 12

The one who gifts his personal property to someone is called a _____.

Accepted Answer

A)  testator 
B)  tenant 
C)  donor 
D)  grantor 
A)  testator 
B)  tenant 
C)  donor 
D)  grantor

Question 13

In the case of joint tenants with right of survivorship, a joint tenant can pass his or her interest by will to anyone other than the other joint tenants.

Accepted Answer

A) True 
 B)False

Question 14

A fee simple interest in land is only good for the life of the life tenant who holds the interest.

Accepted Answer

A) True 
 B)False

Question 15

A valid completed gift can be taken back by the donor.

Accepted Answer

A) True 
 B)False

Question 16

Personal property to which an owner has relinquished all right and title and which is not given to someone through a validly executed will has been _____.

Accepted Answer

A)  mislaid 
B)  abandoned 
C)  lost 
D)  bequeathed 
A)  mislaid 
B)  abandoned 
C)  lost 
D)  bequeathed

Question 17

If someone steals property from the owner, then sells the property to a third party, even to an innocent purchaser who has no notice that the property is stolen, the true owner can still reclaim the property.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following statements is true regarding conversion?

Accepted Answer

A)  It is virtually excluding the owner from the property and treating the property as if it belongs to the converter. 
B)  It involves accidentally interfering with the possession and control of another's personal property. 
C)  The trespass to personal property tort is less severe than conversion. 
D)  Taking the property out of the owner or possessor's control is enough for the tort to be committed. 
A)  It is virtually excluding the owner from the property and treating the property as if it belongs to the converter. 
B)  It involves accidentally interfering with the possession and control of another's personal property. 
C)  The trespass to personal property tort is less severe than conversion. 
D)  Taking the property out of the owner or possessor's control is enough for the tort to be committed.

Question 19

Michel deeds his house to Robert for the life of his wife. Once his wife dies, the property goes to a church. This is an example of the _____ type of property interest.

Accepted Answer

A)  reversion 
B)  fee simple 
C)  life estate 
D)  tenant 
A)  reversion 
B)  fee simple 
C)  life estate 
D)  tenant

Question 20

What is reversion?

Accepted Answer

If the grantor of a life estate dictates

How is title to real property transferred?

A _____ is a legal document providing for the disposition of the property of the one making it after his or her death.

The tenant:

Harm to the real property should be proved to establish the tort of trespass to real property.

The one who grants a life estate is called a _____.

Which of the following statements is true regarding a stolen property?

A mislaid property is a personal property:

What is eminent domain?

Discuss the fee simple property interest.

What is an abandoned property?

The holder of a life estate interest can will the property to someone else.

The one who gifts his personal property to someone is called a _____.

In the case of joint tenants with right of survivorship, a joint tenant can pass his or her interest by will to anyone other than the other joint tenants.

A fee simple interest in land is only good for the life of the life tenant who holds the interest.

A valid completed gift can be taken back by the donor.

Personal property to which an owner has relinquished all right and title and which is not given to someone through a validly executed will has been _____.

If someone steals property from the owner, then sells the property to a third party, even to an innocent purchaser who has no notice that the property is stolen, the true owner can still reclaim the property.

Which of the following statements is true regarding conversion?

Michel deeds his house to Robert for the life of his wife. Once his wife dies, the property goes to a church. This is an example of the _____ type of property interest.

What is reversion?

Introduction to the Business and Ethics Environment in a Diverse Society

Alternative Dispute Resolution

The Court System and Legal Process

Administrative Law

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Secured Transactions and Bankruptcy

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Exam 7: Property, Real and Personal

How is title to real property transferred?

A _____ is a legal document providing for the disposition of the property of the one making it after his or her death.

The tenant:

Harm to the real property should be proved to establish the tort of trespass to real property.

The one who grants a life estate is called a _____.

Which of the following statements is true regarding a stolen property?

A mislaid property is a personal property:

What is eminent domain?

Discuss the fee simple property interest.

What is an abandoned property?

The holder of a life estate interest can will the property to someone else.

The one who gifts his personal property to someone is called a _____.

In the case of joint tenants with right of survivorship, a joint tenant can pass his or her interest by will to anyone other than the other joint tenants.

A fee simple interest in land is only good for the life of the life tenant who holds the interest.

A valid completed gift can be taken back by the donor.

Personal property to which an owner has relinquished all right and title and which is not given to someone through a validly executed will has been _____.

If someone steals property from the owner, then sells the property to a third party, even to an innocent purchaser who has no notice that the property is stolen, the true owner can still reclaim the property.

Which of the following statements is true regarding conversion?

Michel deeds his house to Robert for the life of his wife. Once his wife dies, the property goes to a church. This is an example of the _____ type of property interest.

What is reversion?

Introduction to the Business and Ethics Environment in a Diverse Society

Alternative Dispute Resolution

The Court System and Legal Process

Administrative Law

Contracts and Sales

Torts

Business Crimes

Secured Transactions and Bankruptcy

Agency and Business Organizations

The Employment Relationship and Equal Employment Opportunity

Labor and Management Relations

Securities Regulation and Compliance

Antitrust and Trade Regulation

Intellectual Property

Environmental Law and Business

International Law and Business

Filters