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MGT 12AH - Chapter 23 - Personal Property, Real Property, and Land Use Law

Terms in this set (53)

Tangiable Property
personal property and real property
Found Articles
under common law, finder's rights depend on the found property, which is characterized in one of 4 ways:
1. owner intentionally places the property in a certain place and later forgets about it, the property is considered mislaid
2. owner unintentionally parts with the property through either carelessness or neglect, it is considered lost.
3. owner has thrown away or voluntarily forsaken the property, it us considered abandoned.
4. found property is considered treasure trove if it is verifiably antiquated and it has been concealed for so long as to indicate that the owners are probably dead or unknown
Suppose Dwayne tosses an old cell phone charger in the trashcan that is waiting to be picked up in front of his home. Tom, who is looking for valuables in the neighborhood garbage, finds the charger. In this scenario, the cell phone charger would be characterized as ______.
abandoned
A finder of lost property typically obtains title by possession, except as it relates to the: ______.
actual owner.
Patents are classified as ______ property.
intellectual
Adverse action
principles that apply to personal property held for an extended period of time by a possessor who is not a true owner.
Adverse possession allows for the possessor of goods to be protected from any suit to recover the property, except against: ______.
the true owner.
A good faith purchaser will only acquire valid title to personal property when the seller has: ______.
valid title.
Bailments
bailor (owner of property) entrusts a bailee to temporarily hold the property, for the mutual benefit. Bailee has a duty of care and duty to act reasonably in protecting the property
The key to determining whether the property is lost or mislaid is the element of: ______.
involuntariness
The period of time personal property must be held for adverse possession purposes is set by: ______.
statute.
Potential tax advantages and the right to exclusive use without the expense of purchase are typical advantages in a lease agreement for the: ______.
lessee.
The Uniform Residential Landlord-Tenant Act governs the legal relationship between: ______.
residential landlords and tenants.
Noises and foul odors are common types of
nuisances.
subsurface rights
landowners have rights to soil, mineral, oil and natural gas within the soil. Rights may be severed from the bundle of rights owned by the landowner and sold to a third party.
Which UCC article governs leases for personal property?
2A
Rights to streams, lakes, and groundwater are examples of ______ rights.
riparian
A(n) ______ that affects a landowner's use and enjoyment of her land is a nuisance.
unreasonable condition
Principles of commercial law and principles of _______ law govern personal property leases.
property
The person who has a life estate interest is known as the
life tenant
Airspace rights do not include: ______.
preventing airplanes from flying over one's property.
When property reverts back to the original owner because certain restrictions have been violated, the original owner is said to have the right of: ______.
reversion.
The landlord-tenant agreement evidences a: ______.
tenancy for years.
tenancy for years.
property law and contract law.
Which of the following is a life estate with a restriction attached?
Life estate defeasible
Which of the following is considered the highest level of real property ownership?
Fee simple
Identify the duty of a tenant that involves obeying landlord rules and complying with health and safety codes.
Reasonable use
An agreement between a landlord and a tenant is referred to as a(n): ______.
lease
An easement created in writing and found on the property deed is known as a(n)
express grant.
Which of the following occurs when a landowner gives permission to another to use property, but the use may be revoked at the owner's discretion?
License
To gain title to a parcel of land through ______ possession, the one claiming title must have occupied the property for a certain period of time.
adverse
The open and notorious requirement of adverse possession requires the party asserting adverse possession to intend to assert a claim of ______ of the property.
ownership
Notifying the landlord of necessary repairs and refraining from disturbing other tenants are requirements of a tenant under the duty of: _______
...
A privilege to use the real estate owned by another is referred to as a(n):
easement
Easment
Can be created in 3 ways:
1. express grant
2. implication or necessity
3. prescription
Open and notorious possession that is visible and exclusive and for a continuous period of set time is ______ possession.
Multiple choice question.
adverase
Which of the following is a requirement of adverse possession?
Multiple choice question.
Actual and exclusive use
In some jurisdictions, a shorter period of time than what is set forth in the statute may be allowed for adverse possession claims if the: ______.
adverse possessor pays taxes on the land.
The privilege to use an easement acquired through adverse possession is known as: _____.
Multiple choice question.
prescription.
Sharing control of the land in question would negate the ______ possession requirement of an adverse possession claim.
exclusive
Cities, boroughs, and townships are examples of ______ governments.
local
Continuous possession for adverse possession purposes means that the adverse possessor cannot______ the property in question for a period of time.
abandon
Retail, industrial, and residential are examples of: ______.
zones
Zoning laws that discriminate violate the ______ Clause.
Equal Protection
______ regulations typically establish districts for property use.
zoning
Which of the following might enforce local use ordinances?
Multiple choice question.
Building inspector
Wetland preservation ordinances that restrict a landowner's right to develop, fill or dredge land are legitimate exercises of a state's: ______.
police power
Which of the following is a requirement of adverse possession?
Actual and exclusive use
If the government and private property owner cannot agree on the sales terms regarding real estate, the government will institute ______ proceedings.
condemnation
Continuous possession for adverse possession purposes means that the adverse possessor cannot _______ the property in question for a period of time.
abandon
In condemnation proceedings, the government must prove that its action of taking private property is ______ related to a public purpose.
rationally
A regulation that completely deprives a landowner of all the economic value of his or her property will require just compensation under the power of _______ domain
eminent
Exclusive and actual possession is a requirement of: ______.
adverse possession.
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