ch. 49 Flashcards
The owner of real property has relatively exclusive rights to the airspace above the land.
True
All-Mart Discount Stores Corporation contracts to buy ten acres from Suburban Enterprises, Inc., as a site for a new store. The contract calls for a “warranty deed.” According to a survey that All-Mart commissions, one corner of an adjacent, enclosed parking lot is on part of the property that Suburban is attempting to convey. Can All-Mart avoid the contract? If so, on what basis? If not, why not?
Yes, All-Mart can avoid the contract. Under the warranty deed the seller “Suburban Enterprises” is bound to provide a marketable title. This breach of contract can lead to avoidance of the deal, or renegotiations.
Bebe wants to lease a duplex for two years from Country Living Inc. In most states, the lease agreement
must be in writing.
Urban City wants to acquire undeveloped private land within the city limits to construct a public park. The city brings a condemnation proceeding to obtain title to the land. This is
the power of eminent domain.
The same restrictions that apply to an assignment of the tenant’s interest in leased property apply to a sublease.
True
Beck and Carli are married. Carli purchases a condominium near Downhill Ski Resort. Beck and Carli each technically own an undivided one-half interest in the condo. This is
community property.
Aggie owns Buffalo Ranch. Aggie’s ownership rights include the right to sell or give away the property without restriction, and the right to use the property for whatever purpose she sees fit. Aggie’s ownership interest is
a fee simple absolute.
There are no interests in land that do not include any rights to possess the property.
False
An individual’s right to his or her property is absolute.
False
To acquire property by adverse possession, the possession must be secret or clandestine.
False
Because no one can actually hold a piece of land, certain rights and duties are recognized to constitute the ownership interests in real property.
True
Logging Corporation has a right to go onto Mountain Timber Company’s land and harvest select trees. Logging’s right is
a profit.
Under the takings clause of the Fifth Amendment to the U.S. Constitution, private property may be taken for public use without “just compensation.”
False
A license is a personal privilege that cannot be withdrawn or revoked.
False
Veda owns a house. In the house, on a tile floor is a throw rug and a heavy decorative urn. Most likely to meet the definition of a fixture is
the tile floor.
Bob owns twenty acres of land on the side of a mountain in Colorado. He files a suit against the Durango Flight School, claiming that its planes flying over his land violate his property rights. To succeed, his best argument is
the flights are low and frequent, interfering with enjoyment of his land.
With a tenancy at will, either party can terminate the tenancy without notice.
True
Town House Apartments fails to provide the utilities to its tenants’ apartments, making their use and enjoyment of the premises exceedingly difficult. This is most likely
a constructive eviction.
The condemnation power of the government to take land for a public use is known as the right of adverse possession.
False
Nancy owns Office Tower, a commercial building situated on an acre of land that she also owns in Peoria, Illinois. Subject to certain qualifications, the exterior boundaries of Nancy’s land extend to
the center of the earth and up to the sky.
Sergio rents an apartment from Taylor for a stated period of one year. The lease does not include a provision for renewal or extension. At the end of the lease term, possession of the apartment most likely
returns to Taylor.
Edna and Flavia buy a cottage in Gulfport, Mississippi. On the death of either owner, that owner’s interest in the dwelling passes to her heirs. This is
a tenancy in common.
Property Management Corporation (PMC) owns several apartment buildings in two states. Regarding standards for maintenance of the buildings, PMC should consult
the applicable city ordinances and state statutes.
Jade owns a loft that she leases to Keyes and Luc. If Jade sells the loft, Keyes and Luc
become the tenants of the new owner.
