Deck 8: Real and Personal Property

Question 1

Under an estray statute,a finder may clear title to mislaid or lost property if:

A)The finder reports the found property and turns over possession.
B)Notice and advertisements are published describing the lost property.
C)A specified time has passed without the rightful owner claiming the property.
D)All of the above.

Answer 1

D

Question 2

Under condominium ownership,the individual owners own individually the following:

A)Their dwelling unit.
B)Their hallway.
C)Their parking areas.
D)Their recreational facilities.

Answer 2

A

Question 3

In this form of concurrent ownership,there does not exist a right of survivorship:

A)Joint tenancy.
B)Tenancy in common.
C)Tenancy in the entirety.
D)Community property.

Answer 3

B

Question 4

Adverse possession of property involves:

A)Possession of the property over a lengthy period of time.
B)Putting the property owner on notice of the possession.
C)Actually possessing the property.
D)All of the above.

Question 5

Intangible property includes all but the following:

A)Stock certificates.
B)Furniture.
C)Bonds.
D)Copyrights.

Question 6

The following are forms of real property transfer documents:

A)Warranty deed.
B)Quitclaim deed.
C)Both of the above.
D)None of the above.

Question 7

Under the common law,innkeepers are held to a strict liability standard for loss to personal property of transient guests.

Question 8

Real property includes the following:

A)Subsurface rights.
B)Plant life and vegetation.
C)Fixtures.
D)All of the above.

Question 9

A freehold estate is where the owner has a present possessory interest in the real property.

Question 10

Things such as radio towers,bridges,and water filtration plants are not real property.

Question 11

A quitclaim deed provides the greatest number of warranties and the most protections.

Question 12

Real property can become personal property.

Question 13

In tenancy in common,the interests of a surviving tenancy in common pass on to the co-tenants.

Question 14

In a condominium,each unit owner owns only their particular unit.

Question 15

Land is the most common form of person property.

Question 16

An estate pour autre vie creates:

A)A brief interest in personal property.
B)A permanent transfer of goods.
C)A lifetime interest in real property.
D)None of the above.

Question 17

Easements are created by:

A)Implication.
B)Necessity.
C)Prescription.
D)All of the above.

Question 18

There are three kinds of property.

Question 19

The following is the highest form or ownership of real property:

A)Fee simple defeasible.
B)Qualified fee.
C)Fee impressive.
D)Fee simple absolute.

Question 20

In a community property state,each spouse has a claim to the fruits of their own labors.