What are examples of real property? correct answers Vacant parking lot
Kitchen Faucet
Field of crops
Shed
Tenancy by entirety correct answers No independent right to convey; interest passes to spouse upon death
Tenancy in common correct answers May convey to third party; interest passes t...
BUS 250 Test 1 || with 100% Error-free Solutions.
What are examples of real property? correct answers Vacant parking lot
Kitchen Faucet
Field of crops
Shed
Tenancy by entirety correct answers No independent right to convey; interest passes to spouse
upon death
Tenancy in common correct answers May convey to third party; interest passes to heirs upon
death
Joint tenancy correct answers May convey to third party during life; interest passes to other
tenants upon death
When partitioning property, courts will first seek to sell the property and divide the proceeds
from the sale equally among the co-tenants correct answers False
Joint tenants each own a percentage of the ________ property correct answers Entire
Owners of real property must ________ intend to create a joint tenancy; otherwise a tenancy
________ is created correct answers Expressly, in common
Joint tenants have a(n) ________ to partition the property correct answers Absolute right
The defining feature of a joint tenancy is the ________, which means when one joint tenant dies,
his or her property interest passes to ________ correct answers Right of survivorship, the
remaining joint tenants
In community property states, spouses have an equal interest in... correct answers Only property
earned by either espouse during the marriage
Joey, a succesful entrepreneur, has acquired many properties. His ailing grandmother finds the
sound of crashing waves soothing, so he gives her his favorite beach house "for life." Joey has
________ in the beach house correct answers A reversion
Profit correct answers Right to enter and take something away from another's land
Easement correct answers Right to enter and make limited use of another's property
License correct answers Temporary right to enter another's property
A property owner who borrow money to buy the property is a ________ correct answers
Mortgagor
,The lender who loans the property owner money is the ________ correct answers Mortgagee
This lender takes a ________ in real property, which places a ________ on the property and
entities the lender to ________ if the property owner/borrower fails to pay back the loan correct
answers Security interest, lien, foreclose
A person seeking to establish an ownership of land by adverse possession must prove that her
use of the real property has been... correct answers Open and notorious
Exclusive
Conditions for the period required by local statute
Adverse to the true owner
One of the elements of adverse possession requires the user to take physical ________ of the
land correct answers Possession
In addition, the user must have ________ possession, meaning she is the ________ person
occupying the land correct answers Exclusive, only
If any other person, including the ________ occupies the land, this element is not satisfied
correct answers True owner
An adverse possessor of land must make use of the land in an open and notorious manner so that
the true owner is put on notice that his title to the land is contested correct answers True
Must an adverse possessor believe he or she actually owns the property being used? correct
answers It varies by state
The law allows a user to tack years of occupancy with those of previous possessors of the
property to satisfy the continuous possession requirement of adverse possession, as long as the
previous users have ________ with the current user... correct answers Privity, or a legal
relationship
A nuisance is an unprivileged interference with a person's ________ of property correct answers
Use and enjoyment
Courts will balance the ________ of the act being complained of against the harm to the
________ correct answers Utility, property owners
If a court finds a nuisance exists, it will order a(n) ________ correct answers Abatement
A zoning board will consider which of the following when deciding whether or not to grant a
variance? correct answers The nature of the community
Response of the community
The reason the owner claims to be harmed by the ordinance
, If a property owner rejects the government's offer of a "fair price" for property being taken by
eminent domain, then the owner waives his right to compensation for the property. correct
answers False
Landlord-tenant law involves a combination of which three areas of law? correct answers
Negligence
Real property
Contracts
A tenant may be fined for violating a lease covenant, but may be evicted for violating a
________ correct answers Condition
Periodic Tenancy correct answers A lease for a fixed period of time and automatically continues
for additional periods until terminated by either party
Tenancy at Sufferance correct answers A lease created when a tenant remains on the premises
after the expiration of a true tenancy, against the landlord's wishes
Tenancy at Will correct answers A lease for no fixed duration that may be terminated by either
party at any time
A landlord can create a ________ by signing a lease for a fixer period of time that automatically
renews for additional periods until either party terminates correct answers Periodic tenancy
Alternatively, such a tenancy can be created when a tenancy for years ________, and then the
tenant continues to pay rent and the landlord ________a correct answers Expires, accepts rent
In such a case, if the property is ________, the new tenancy is for the same period as the
previous tenancy up to a maximum of ________ correct answers Commercial, one year
If the property is residential, the new tenancy is on a ________ period correct answers Month-to-
month
Under a tenancy at sufferance, a landlord is entitled to either evict a tenant or receive rent from
the tenant correct answers False
A landlord evicts a tenant when the landlord... correct answers Physically prevents the tenant
from possessing the premises
Substantially interferes with the tenant's use and enjoyment of the premises
A tenant's right to use the rented property without the interference of the landlord or other
tenants is referred to as the right... correct answers of quiet enjoyment
In addition to providing property that the tenant can use for the intended purpose, the landlord
has an obligation to maintain the premises to a particular legal standard correct answers True
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