5 Written Questions
5 Matching Questions
- Fee Simple (Fee Simple Absolute)
- Tangible Personal Property
- Intangible Personal Property
- Life Estate
- Method of Acquiring Ownership to Real Property
- a Property that has a physical substance- something you can hold, see or hear.
- b Estate of real property the duration of which is measured by the life or lives of one or more persons.
- c Estate of real property with infinite duration and no restrictions on use. Highest and best kind of estate an owner can have.
- d Inheritance, Devise, Gift, Sale and Adverse Possession
- e Property that represents a set of rights that have no existence but that do represent control or ownership of something of value.
5 Multiple Choice Questions
- Air conditioning units, dishwashers, shelving, counters.
- Written document that transfers ownership of real property from one person to another.
- Sometimes referred to as "chattels" or "goods." May include living objects, such as animals, and inanimate objects.
- Item of personal property that becomes real property because of its attachment to the land of a building.
- In regard to water law, doctrine stating that water belongs to the person who first makes beneficial use of it.
5 True/False Questions
Fee Simple Determinable → Estate of real property with infinite duration and no restrictions on use. Highest and best kind of estate an owner can have.
Fee Simple on Condition Subsequent → Exists when a fee simple is subject to a power in the grantor (person who conveyed the fee) to recover the conveyed estate on the happening of a specified event.
Adverse Possession → Occupation of land evidenced by visible acts such as enclosure, cultivation, the construction of improvements, or the occupancy of existing improvements.
Estate at Will → Estate of real property the duration of which is for n indefinite period. An estate at will can be terminated at the will of the parties.
Inheritance → The transfer of title of some of all of the ownership rights to real property from one person to another. A conveyance is usually by instrument such as a deed, lease, or mortgage.