Exam (elaborations)
BLAW 3314 Exam 1 Detailed Questions and Expert Answers
- Course
- BLAW 3314
- Institution
- University Of Texas - Arlington
BLAW 3314 Exam 1 Detailed Questions and Expert Answers
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BLAW 3314 Exam 1 Detailed Questions and ExpertAnswers
FEE SIMPLE - ANS the interest that you own lasts forever; doesn't go away when
you die (can stay in the family)
TYPES OF FEE SIMPLES - ANS some have restricted use: can only be used for school
purposes, or church purposes. OR can work the other way around: no alcoholic
uses
LIFE ESTATE - ANS land interest where you get to enjoy the interest in the land or
acquire the income from it for life; if guarantor doesn't say who it goes to, it goes
BACK to the grantor (reversion)
LIFE ESTATE: REVERSION - ANS when grantor doesn't provide for where a
remainder goes after the life estate, then it goes BACK to the grantor
WHAT MAKES UP THE FEE SIMPLE: "BUNDLE OF STICKS" - ANS if you have the fee,
you can convey away parts of it: you could sell the airspace above; you can give
someone the right to take the water; sell mineral rights; lease the surface; etc.
RECTANGULAR SURVEY SYSTEM - ANS Texas DOES NOT use this system; township,
section; described by fractional shapes of each section
, METES AND BOUNDS - ANS going by the perimeter ... walk around the land and
make certain markings
LOT AND BLOCK SYSTEM - ANS based upon reference to subdivision; sometimes
there's a reference to a map
LAND SURVEY SYSTEMS - ANS metes and bounds, lot and block system, rectangular
system
TWO SURVEY SYSTEMS TEXAS USES - ANS lot and block, metes and bounds
STATUTE OF FRAUDS WITH REGARDS TO LAND - ANS land must be accurately
described! If not, then any contract for sale violates SOF. Any deed or mortgage
that has bad description is invalid.
VALID DESCRIPTION OF LAND - ANS means that, technically, the description will
exclude land from any other tract of land in the world; ex. a street address is NOT
an accurate description of land
TENANCY IN COMMON - ANS owner owns interest, BUT there are no survivorship
rights, can own UNEQUAL interests, can acquire their interest at different times
JOINT TENANCY - ANS owner owns interest, ALSO has survivorship rights, must
have SAME interest, must acquire their interest at the SAME times
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