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MIE 305 EXAM 3 2024 MOST RECENT UPDATE COMPREHENSIVE QUESTIONS AND VERIFIED ANSWERS [MOST TESTED QUESTIONS] CERTIFIED STUDY GUIDE RESOURCES GRADE A+ GET IT 100% RIGHT ALL PASSED,,,Alpha€17,67
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MIE 305 EXAM 3 2024 MOST RECENT UPDATE COMPREHENSIVE QUESTIONS AND VERIFIED ANSWERS [MOST TESTED QUESTIONS] CERTIFIED STUDY GUIDE RESOURCES GRADE A+ GET IT 100% RIGHT ALL PASSED,,,Alpha
MIE 305 EXAM 3
2024 MOST RECENT UPDATE
COMPREHENSIVE QUESTIONS AND VERIFIED ANSWERS [MOST TESTED QUESTIONS] CERTIFIED STUDY GUIDE RESOURCES GRADE A+ GET IT 100% RIGHT ALL PASSED,,,Alpha
COMPREHENSIVE QUESTIONS AND VERIFIED
ANSWERS [MOST TESTED QUESTIONS]
CERTIFIED STUDY GUIDE RESOURCES GRADE
A+ GET IT 100% RIGHT ALL PASSED
Bundle of Rights - (correct answer) Dominion and control
over something with the right to exclude others.
Possession - (correct answer) The right to claim title over
the property, meaning one exerts dominion and ultimate
power over it.
Control - (correct answer) The right to decide how the
property is to be used, or employed.
Quiet Enjoyment - (correct answer) A means by which the
rights holder can decide how to use the property, or what or
whom may be there at any given time, but differs from control
,in the sense that it creates a right to enjoy the property which
others, through the law of nuisance, are capable of violating
that is separate from merely whether on controls the property
in question.
Exclusion - (correct answer) Gives the rights holder the legal
ability to determine who or what is not allowed on the
propertyReal Property - (correct answer) The legal interests
in land and things attached to, or growing on land.
Personal Property - (correct answer) Referred to generally
as chattel, the rights, powers, and privileges a person has in
things that are not real property, may be transferred by sale,
gift, or will.
Chattels Real - (correct answer) An interest in land, such as a
leasehold.
Chattels Personal - (correct answer) Moveable personal
property.
Chattel Personal in Action - (correct answer) Something to
which one has a right to possession, but concerning which one
,which may be required to bring some legal action to ultimately
enjoy its possession, ie. check or note.
.
Alienation/Disposition - (correct answer) The right to
dispose of any or all of the rights one holds in property through
sale, gift, or lease.
Encumbrance - (correct answer) The right to place certain
burdens upon the property that do not affect essential
possession or alienation rights but nevertheless reduce the
value or enjoyment one may have in it through voluntary action
or through operation of law, ie. mortgage.
Fee Simple Estates - (correct answer) Interests classified as
either absolute of qualified present interests.
Fee Simple Absolute - (correct answer) This is the most
complete interest a person may have in land and includes the
entire bundle of rights. Such an estate is not qualified by any
other interest, and it passes upon death of the owners to the
heir, free from any conditions and existing in perpetuity.
, Qualified/Conditional Fee Simple - (correct answer) A fee
simple interest that may be defeated in the future by the
occurrence or nonoccurrence of a stated event or condition.
Life Estate - (correct answer) One's rights in the property
end upon the death of the grantee or the duration of the life of
some other designated person, may be conditional upon an
event, do not have the rights of encumbrance or alienation,
unless limitations are included interests may be sold or
mortgaged.
Estate in Remainder - (correct answer) If the estate is to be
given to someone else upon termination of the life estate.
Reversion - (correct answer) If the estate is to go back to the
original owner, or revert to the heirs upon termination of the
life estate.
Waste - (correct answer) Damage to the real property, so its
value is impaired.
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