The general presumption is that the rights you acquire in an estate extend from the center of the earth to the heavens above. However, the owner may hold that entire bundle or not. One can only convey the quantity and quality of interest they have. - Answer-Bundle of Rights
Real property - Answe...
NCEES PS Exam Questions with Correct
Answers
The general presumption is that the rights you acquire in an estate extend from the
center of the earth to the heavens above. However, the owner may hold that entire
bundle or not. One can only convey the quantity and quality of interest they have. -
Answer-Bundle of Rights
Real property - Answer-Real property is fixed and immovable
Personal Property - Answer-Personal property is consumable
Fee Simple Absolute - Answer-an estate in land that provides the owner with a
complete set of legal rights, limited only by the powers of government
Fee - Answer-an estate that can inherited or divested by will or other document
Simple - Answer-not fee tail (a fee tail estate must be inherited by a specific person)
Absolute - Answer-no limitations on time, estate can continue forever
Defeasible fee simple estate - Answer-a future event must be met for the estate to
continue. There are conditions on the estate
Life Estates - Answer-Ownership, possession and control for someone's lifetime
Estate per Autrie Vie - Answer-Measured life is other than that of the holder:
"to Jones for the life of Brown and then to Smith in fee simple"
Easements - Answer-an interest that one may have in the lands of another
Affirmative Easements - Answer-Allows the dominant estate (the one the easement
benefits) to do some physical act over the servient estate (where the easement is
located).
Negative Easements - Answer-the dominant estate can prevent the servient estate from
doing something e.g. scenic views
Appurtenant Easements - Answer-"run with the land" and are not terminated by the sale
of either the servient or dominant tenement
Easements in Gross - Answer-attaches to a person
, Easements by estoppel - Answer-If a person's actions led someone to believe they had
an easement they would be estopped from denting the use
Similar to adverse possession. The use is
1. Adverse use without permission
2. Open and notorious
3. Continuous
4. For a specific purpose
5. Lasts for the statutory period - Answer-Prescriptive Easements
Covenant - Answer-is an agreement between entities to restrict use. Usually within the
same subdivision or complex
Torrens Title System - Answer-Areas that use: Chicago, Mass and Minn.
The owner of the title is registered through the land court.Title cannot be acquired
through prescription.
1. Actual possession
2. Open Possession
2a. Notorious Possession
4. Claim of title
5. Continuous Possession
6. Hostile Possession
7. Exclusive Possession - Answer-Elements of Adverse Rights
Color of Title - Answer-That which appears to be good title but which is not title in fact.
Feoffment - Answer-requires delivery of possession.
Livery Seisin - Answer-in front of a witness some symbolic item of the land is delivered
Deed - Answer-is a conveyance of realty whereby title to real property is transferred
from one party to another. It is the instrument by which title is conveyed.
Bargain and Sale Deed - Answer-Historically was a deed where a conveyance is made
free of any covenants. Now there is such a thing as a Bargain and Sale Deed with
Covenants. There is not a personal guaranty of ownership, there
is a good faith bargain and sale.
Quit Claim Deed - Answer-Release any interest the grantor may have at the time of
conveyance. No personal guaranty or implication that the title is "good."
Warranty Deed - Answer-Grantor assures that they have good title and can be held
liable for deficiencies if not declared.. The grantor warrants no one has encumbered the
property and they will defend the title against any claims.
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