Exam 7: The Property System

Foreclosure means that the court will order the land sold to satisfy the debt owed, usually by auction to the highest bidder, with any excess after payment of what is owed to the secured creditor going to the debtor.

When the owner of an old airplane engine has it restored and has an airplane built around it, the owner of the engine now owns the entire airplane through the doctrine of _____, which refers to something "added."

What type of laws divides counties or municipalities into use districts designated as residential, commercial, or industrial?

Danny has five pit bull dogs. They bark constantly and terrify the neighbor, Terry. When Terry tries to sell his house, no one will even look at it for fear of the dogs. If Terry takes Danny to court, what should he claim that Danny has established?

A(n) _____ gift is made through a will. The rules of such a gift pass ownership not by delivery but upon the death of the donor and the proving of a valid will that specifies the gift.

Wallace buys a television from Dotty, but a week later, a clerk from Conduit City, an electronics store, contacts Wallace to inform him that the store will be repossessing his television. Wallace calmly expresses his confusion, stating that he bought the television free and clear from Dotty. The clerk explains that Conduit City has a purchase money security interest in the television, which permits them to repossess the TV. Fully explain who is right.

What steps must be taken for a security interest to attach?

What is the difference between a public and a private nuisance?

Sarah has given 24 acres of land to Kent County for as long as the land is used as a park. Kent County has a:

Which of the following types of easement is also called easement by necessity?

The _____ limits all exercise of property over resources to a duration of "lives in being plus twenty-one years."

A valuable object given by a debtor to a creditor to secure a loan is referred to as the _____.

Define and contrast private property, public property, and common property.

Which of the following is NOT a security interest in land?

Name two items on an average university campus that would be classified as personal property and two items classified as fixtures. Fully explain why each item is so classified.

The Supreme Court has stated that it is unconstitutional for governments or government entities to take private land for public development.

What is the difference between attachment and perfection of a lien regarding Article 9 secured transactions?

What is meant by a life estate in land and why might one give someone else a life estate rather than a fee simple ownership.

Mortimer's father, Loomis, has just lost his home to foreclosure. Mortimer wants to make sure that his father has some land of his own for his remaining years. Mortimer owns Sunnylake, a plot of land nearby. Mortimer knows his father would be happy living on Sunnylake, but he also hopes to develop the land for his own retirement home, when the time comes. Explain what Mortimer should do and why.

Once a court has determined that an offender has substantially and unreasonably interfered with the use or enjoyment of another's property, the court may issue an injunction forcing the offender to do something to ease the nuisance-creating activity. Which of the following will be conducted by the court in determining whether to issue an injunction?