Property Law Bundled exams with complete solution

Fairness/labor Theory - Property rights are a reward for labor spent in creating/improving property. Certainty - Property law should create a system in which purchasers can easily determine property ownership; property rules should be clear and easy to administrator. Personhood - Owning property...

Words of purchase - Answer-Describe who takes the real property by grant, gift, inheritance or bequest Words of limitation - Answer-Describe the type and duration of the estate taken by the transferee FEE SIMPLE ABSOLUTE - Answer-"To Grantee and their heirs" FEE SIMPLE DETERMINABLE - Answer-"T...

Real Property - Answer-land and things attached to the land Real Property Mortgage - Answer-legal agreement by which a bank or other creditor lends money at interest in exchange for taking the title of the debtor's real property, with the condition the conveyance of title becomes void upon the ...

Differences between Property and Contract Rights? (2) - Answer-K rights are only enforceable against contracting parties. Property rights are enforceable against the world What concept is the basis for the idea of property rights? - Answer-Exclusion (the power to exclude) Can you occupy possessio...

Which of the following is not considered real property a. buildings b. fixtures c. corn d. elm tree - Answer-c. corn a court in determining that an item is a fixture will consider which of the following a. the extent of the attachment of the time to the building b. the intention of the partie...

True Owner - Personal who originally owned an item and lost it Finder - Has superior interest over everyone except for true owner. Has legal right to possess, has a duty to reasonably attempt to find true owner Becomes an involuntary bailee. Lost - True owner unintentionally misplaces property M...