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Exam 49: Real Property

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Question 41

Multiple Choice

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In making a transfer by ________, deed the grantor is only making the promise that he or she has not done anything to lessen the value of the estate.

A) Quitclaim
B) Special warranty
C) Approved
D) General warranty
E) Specific

F) C) and D)
G) A) and E)

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Question 42

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Which of the following is the document that directs a condominium association?

A) Declaration of Covenants, Conditions and Restrictions
B) Agreement of Association Rights and Duties
C) Contract of Recognition and Association
D) Acknowledgement of Ownership and Restrictions
E) Condominium Governing Agreement

F) A) and E)
G) A) and D)

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Question 43

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[Dentist Lease] Jaston rents space for his new dental office. He installs a chandelier in the reception area and three new dentist chairs. Ten months into the one-year lease, Jaston decides to sublease one of the offices in his rental to a therapist, and tells the therapist to pay the landlord directly. At the end of the lease term, Jaston decides to close the office and move to a smaller space. The landlord, who apparently never received payment from the therapist, wants Jaston to pay the missing rent payments and also tells Jaston he violated the lease by subleasing the property without permission. The landlord also tells him he cannot take the chandelier and dentist chairs because they are fixtures. -May Jaston remove the chandelier and take it with him?

Which of the following refers to money that is provided by a potential purchaser and applied toward the purchase price of property if the sale goes through, but could be forfeited if the buyer changes his or her mind?

Unreasonable zoning may constitute a constructive taking of property by the government.

[Property Claims] Rayyan sells his home to Kayla and her mother, Bridget. The deed and documents of ownership held by Kayla and Bridget are written such that Kayla and Bridget may each sell or devise her interest in the property. Rayyan provides Kayla and Bridget with a general warranty deed. The deed and other documents of sale contain an easement giving Diego a right to cut across the property in order to obtain access to an adjoining lake. Diego had purchased the easement from Rayyan a few years earlier. After Kayla and Bridget moved in, they saw Diego cutting through the yard with his fishing pole. They told him to get out. He told them about the easement, but Kayla told him that she was the new owner and that she was not accepting it. The next week Ann, the next door neighbor, came over to visit and told Kayla and Bridget that she actually owned a good bit of the yard that was conveyed to Kayla in her deed from Rayyan and that she would like to sell it to Bridget and Kayla. Ann explained that some years prior to Rayyan's ownership, she had purchased the property from a previous owner. It turns out that Ann had actually recorded her interest, but it had been inadvertently missed when the property was sold to Kayla and Bridget. Kayla calls Rayyan and tells him to straighten out the problem with Ann. Rayyan tells her that he is finished with the property and that all problems now belong to her and Bridget. -Which of the following is the most likely type of ownership held by Kayla and Bridget?

Kimi has lived in a small house for thirty years. The house is owned by her boyfriend, Marlon, who died twenty-one years ago. Marlon's son, Oslo, now wants to retire and wants Kimi out of the house, but Kimi claims it belongs to her, since Oslo never complained about her living there. The adverse possession law in their state is twenty years. Who is the owner of the house?

John owns property in fee simple absolute which contains a public easement next to a creek. The easement has poor drainage, and a construction company fixing drainage to the adjacent property wants to dump a load of soil in the area of the easement, which would also benefit John's property. May the company dump the soil on the public easement?

Sam openly used a trail on Kathy's farm to go fishing at the river for 30 years. Kathy knew that he did so. She became angry at him over an event at the Senior Citizen's Center and told him that he could no longer cut across her farm. What legal recourse, if any, would Sam have, and why?

Joint tenancy is the term used to describe co-ownership of property by married couples.

Creden follows all procedural steps in conveying his property to Adam. However, the deed does not state what type of interest is transferred to Adam. Adam claims he has a fee simple absolute, but Creden says it is a life estate because they agreed that he could only have it until he died? What type of estate does Adam own?

The duration of one's ownership interest and the power one has over using the land depends on the type of ________ one is said to hold.

[Cottage in the Woods] When Gil's father died, Gil received a life estate for the family's cottage in the woods. According to his father's will, upon Gil's death, the cottage is to become the property of Gil's much younger step-brother Max. Gil lived at the cottage for many years after his father's death. One day, Max went to visit Gil to check on the property that he would someday own, and noticed that the cottage was in disrepair. The roof leaked, it was infested with mice and termites, and there was water damage in the basement. Max tells Gil to fix the property, but Gil refuses saying that he can let the property deteriorate as much as he wants. -What type of legal action, if any, can Max bring against Gil?

Which of the following was the result in The Spur at Williams Brice Owners Association, Inc. v. Lalla, the case in the text in which a homeowners' association brought suit against an owner to enforce a restrictive covenant barring rentals to unrelated college students?

Restrictive covenants are promises to use or not use land in particular ways.

A title which has a lien on it would not be a marketable title.

The property owned by Margenthaler farms is taken by the city of Maroa against the protest of the Margenthaler family. This is known as ________

An owner's interest in real property cannot occur without the owner's knowledge and consent.

In a[n] ________, the investor resident is a shareholder in the corporation that owns an apartment building and receives a permanent lease of one unit of the building upon acquiring stock.

Krystal buys a new house from Kiel and puts down $10,000 in earnest money. If Kiel accepts Krystal's offer, what happens to the earnest money?