5 Written questions
5 Matching questions
- Fee Simple (Fee Simple Absolute)
- Fee Simple on Condition Subsequent
- a Estate of real property with infinite duration and no restrictions on use. Highest and best kind of estate an owner can have.
- b 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.
- c Legal document by which a person disposes of his property. A will takes effect on the death of the maker of the will.
- d Action or nonaction that causes a loss of value to real property.
- e Occupation of land evidenced by visible acts such as enclosure, cultivation, the construction of improvements, or the occupancy of existing improvements.
5 Multiple choice questions
- Written document that transfers ownership of real property from one person to another.
- A certificate of stock, bonds, patents, copyrights and intellectual property rights, such as software
- Rights of the owners of lands adjoining streams, rivers and lakes relating to the water and its use.
- Air conditioning units, dishwashers, shelving, counters.
- Ownership in real property that is limited to expire automatically on the happening or nonhappening of an event that is stated in the deed of conveyance or the will creating the estate.
5 True/False questions
Fixture → Action or nonaction that causes a loss of value to real property.
Appropriation → Occupation of land evidenced by visible acts such as enclosure, cultivation, the construction of improvements, or the occupancy of existing improvements.
Examples of Tangible Personal Property → A certificate of stock, bonds, patents, copyrights and intellectual property rights, such as software
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.
Types of Modern Day Estates in Real Property → Inheritance, Devise, Gift, Sale and Adverse Possession