Question 1

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?

Accepted Answer

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Question 2

Danny has five pit bull dogs.They bark constantly and terrify the neighbor,Terry.When Terry tries to sell his house,no one wants to buy the house due to the dogs.In this scenario,if Terry takes Danny to court,what should Danny be held liable for by Terry?
A) a public nuisance
B) a private nuisance
C) an adverse possession
D) an eminent domain
E) an accession

Accepted Answer

In this scenario, Terry has to claim that Danny has created a private nuisance. A private nuisance is an unreasonable use of one's property so as to cause substantial interference with the enjoyment or use of another's land.

Question 3

What are the three types of deeds and explain how they differ.

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Question 4

What is adverse possession?

Accepted Answer

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Question 5

Explain the rule of first possession.

Accepted Answer

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Question 6

Landon,an 80-year-old,writes a trust that states that his property is to go to his "great-great-great grandchild" upon his death.At the time of creating the trust,his only child is one year old.In this scenario,which of the following statements is true about the validity of the trust?
A) The trust is valid, but the property must wait until the great-great-great grandchild is born to be transferred.
B) The trust is invalid due to the rule against eventualities.
C) The trust is valid due to the rule of progression.
D) The trust is invalid due to the rule against perpetuities.
E) The trust is valid, but the property must wait until Landon's child dies to be transferred.

Accepted Answer

In this scenario, the trust is invalid due to the rule against perpetuities. The rule against perpetuities limits all exercise of property over resources to a duration of "lives in being plus twenty-one years." The rule prevents an owner from controlling resources through many future generations by setting up trust arrangements, under which trustees are legally required to carry out the wishes of the owner for extended duration.

Question 7

Define and differentiate between private property,public property,and common property.

Accepted Answer

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Question 8

Stephen,a private individual,intends to bring a public nuisance claim against a textiles plant because its runoff is destroying the natural habitat of the local river's beaver population.Which of the following will permit Stephen to bring a valid claim?
A) Stephen is the leading aquatic biodiversity scientist in the state.
B) Stephen traps the beavers for a living.
C) The state owns the textile plant.
D) The runoff has caused substantial damage to Stephen's property.
E) The governor owns the textiles plant.

Accepted Answer

A valid claim for Stephen would be that the runoff has also caused substantial damage to his property. Public nuisance claims may be brought only by a public official, not private individuals, unless the latter have suffered some special damage to their property as a result of the public nuisance. A public nuisance is one arising from some use of land that causes inconvenience or damage to the public.

Question 9

Olena,a wanderer,finds an abandoned ranch in Wyoming and decides to settle there.The record owner finds out 23 years later that Olena has occupied the abandoned ranch.What is Olena's best legal argument that the land is hers?

Accepted Answer

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Question 10

______ is the term used for the exercise of the secured property interest,which usually means that the creditor must go through the court system to ensure that procedures are properly followed before debtors lose their homes and land.
A) Lien
B) Easement
C) Redemption
D) Deficiency
E) Foreclosure

Accepted Answer

Foreclosure is the term used for the exercise of the secured property interest, and foreclosure usually means that the creditor must go through the court system to ensure that procedures are properly followed before debtors lose their homes and land.

Question 11

How would one determine whether found property is lost or mislaid? What are the rights of the finder of lost or mislaid property?

Accepted Answer

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Question 12

Name two items on an average university campus that would be classified as personal property and two items that would be classified as fixtures.

Accepted Answer

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Question 13

How can resources be acquired through confusion?

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Question 14

If your home is being foreclosed on,you may retain ownership of the property if you pay the full amount of the debt before the sale.This is called a
A) right of revision.
B) right of recovery.
C) right to cure deficiency.
D) right of redemption.
E) right to debt forgiveness.

Accepted Answer

Before the actual foreclosure, most states permit a right of redemption, which allows the mortgagor to get back the land upon payment of the full amount of the debt, including all interest and costs.

Question 15

Under the deed of trust,a third party who holds the full ownership to a land is called a ______.
A) bailor
B) bailee
C) trustee
D) debtor
E) mortgagee

Accepted Answer

Under the deed of trust, a borrower signs a note, which shows the borrower's debt to the lender, and then signs a deed of trust, which grants the lender a security interest in the building and land put up to secure the loan. The deed is held by a third party, called a trustee, who holds full legal ownership to the land. Under this arrangement the debtor will obtain legal ownership, or title, only when the deed has been repaid.

Question 16

Which of the following is beyond the scope of zoning ordinances?
A) to separate commercial districts from residential districts
B) to specify the number of buildings that can be built on land
C) to enforce ethnic or gender diversity
D) to impose specific color requirements
E) to specify a specific design for all buildings in an area

Accepted Answer

Zoning ordinances are generally laws that divide counties or municipalities into use districts designated residential, commercial, or industrial. Zoning limits the use to which land can be put to that specified. For instance, industrial facilities cannot be built in residential districts. Zoning may also specify the height, size, number, and location of buildings that can be built on land. Restricting buildings in a commercial district to no more than eight stories in height is an example. Zoning may additionally impose aesthetic requirements concerning color and exterior design. Zoning boards (or commissions), which are generally agencies of local governments, enforce the zoning ordinances. Owners should always check to determine how zoning limits land use.

Question 17

The ______ limits all exercise of property over resources to a duration of "lives in being plus twenty-one years."
A) rule of transaction
B) rule against perpetuities
C) rule of first possession
D) rule against lateral transfers
E) rule against eventualities

Accepted Answer

The rule against perpetuities limits all exercise of property over resources to a duration of "lives in being plus twenty-one years." The rule prevents an owner from controlling resources through many future generations by setting up trust arrangements, under which trustees are legally required to carry out the wishes of the owner for extended duration.
Short Answer Questions

Question 18

What type of laws divides counties or municipalities into use districts designated residential,commercial,or industrial?
A) purchase money security interest
B) zoning ordinance
C) adverse possession
D) eminent domain
E) partitioning

Accepted Answer

Zoning ordinances are generally laws that divide counties or municipalities into use districts designated residential, commercial, or industrial. Zoning limits the use to which land can be put to that specified.

Question 19

What are the different types of easement?

Accepted Answer

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Question 20

The legal foundation for federal taxation is found in ______.
A) yearly power grants from each of the individual states
B) the Declaration of Independence
C) Article 1, Section 8 of the United States Constitution
D) the Congressional Budget and Impoundment Control Act, which created the Congressional Budget Office
E) the Transportation Equity Act

Accepted Answer

Federal taxation is a specified power of Congress, contained in Article 1, Section 8 of the Constitution: The Congress shall have the Power to lay and collect Taxes . . . to . . . provide for the common Defense and general Welfare of the United States. . . . Because the Supreme Court ruled that Article 1, Section 8, did not authorize indirect taxes, like the progressive income tax, the Constitution was amended in 1913 by the Sixteenth Amendment, which permits such taxes.

Quiz 7: The Property System

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?

Danny has five pit bull dogs.They bark constantly and terrify the neighbor,Terry.When Terry tries to sell his house,no one wants to buy the house due to the dogs.In this scenario,if Terry takes Danny to court,what should Danny be held liable for by Terry?

What are the three types of deeds and explain how they differ.

What is adverse possession?

Explain the rule of first possession.

Landon,an 80-year-old,writes a trust that states that his property is to go to his "great-great-great grandchild" upon his death.At the time of creating the trust,his only child is one year old.In this scenario,which of the following statements is true about the validity of the trust?

Define and differentiate between private property,public property,and common property.

Stephen,a private individual,intends to bring a public nuisance claim against a textiles plant because its runoff is destroying the natural habitat of the local river's beaver population.Which of the following will permit Stephen to bring a valid claim?

Olena,a wanderer,finds an abandoned ranch in Wyoming and decides to settle there.The record owner finds out 23 years later that Olena has occupied the abandoned ranch.What is Olena's best legal argument that the land is hers?

______ is the term used for the exercise of the secured property interest,which usually means that the creditor must go through the court system to ensure that procedures are properly followed before debtors lose their homes and land.

How would one determine whether found property is lost or mislaid? What are the rights of the finder of lost or mislaid property?

Name two items on an average university campus that would be classified as personal property and two items that would be classified as fixtures.

How can resources be acquired through confusion?

If your home is being foreclosed on,you may retain ownership of the property if you pay the full amount of the debt before the sale.This is called a

Under the deed of trust,a third party who holds the full ownership to a land is called a ______.

Which of the following is beyond the scope of zoning ordinances?

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

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

What are the different types of easement?

The legal foundation for federal taxation is found in ______.