Test 1

Question 1

What is considered lost

Answer 1

items that the owner unintentionally loses and does not know where it is

Question 2

what is considered mislaid

Answer 2

items that the owner intentionally put something somewhere with the intention of finding it, but then forgets where it is

Question 3

what is considered abandoned property

Answer 3

items where the owner intended to leave it, but is in a clear condition such that the owner doesn’t intend on returning to it

Question 4

what is the finders rights to lost/mislaid/ abandoned property

Answer 4

Lost- finder has the superior right after a month

Mislaid- establishment has ownership over property if the true owner hasn’t made a timely claim (1m)

Abandoned property- the one who finds it has superior right to the item

Question 5

What is the statue of limitations for an owner’s interest in lost/mislaid property

Answer 5

1 month

Question 6

Define real property

Answer 6

Land and those things that are physically attached to the land, items that are uniquely suited for the land

Question 7

What is the law regarding fixtures attached to real property

Answer 7

fixtures are part of the land if they are uniquely suited for the land

Question 8

What are the considerations in determining a fixture

Answer 8

strength of affixation, extent of ownership interest

Question 9

criteria for bailment

Answer 9

the true owner of the item transfers their property to another with the expectation of its immediate return

must be accepted by the bailee

Question 10

treatment of hidden or undisclosed items within a bailed good

Answer 10

Be aware of what might be in there (jacket would have a cell phone not fine jewelry. if jewelry is missing the person taking care of it is not liable.)

Question 11

bailee obligation during sole benefit of bailor

Answer 11

slight care

Question 12

bailee obligation during mutual benefit

Answer 12

reasonable care

Question 13

bailee obligation during sole benefit of bailee

Answer 13

highest degree of care

Question 14

Elements of a gift

Answer 14

Intent to give, delivery, and acceptance

Question 15

gift causa-mortis

Answer 15

the one that the gift was made for keeps it, not part of the state, can be questioned if one person gets all the gifts

Question 16

fee simple absolute

Answer 16

the grantee holds ownership over the land with no restriction

Question 17

fee simple determinable

Answer 17

ownership with condition on the land, if it is broken land goes to the owner immediatley

Question 18

fee simple subject to a condition subsequent

Answer 18

if condition is broken, there is a limited time for the party to get land back

Question 19

joint tenancy

Answer 19

multiple people own property together with equal rights and responsibilities, if one dies the interest is split among the other owners.

Question 20

tenancy in common

Answer 20

multiple people share land with flexible ownership, if one party dies the ownership goes to the heirs not the rest of the owners

Question 21

life estate

Answer 21

if there is no will, the wife can stay on the land for the duration of lives, even if excluded from will

Question 22

community property

Answer 22

property in which is bought during the marriage, separate becomes community when the other spouse helps in the maintenance

Question 23

separate property

Answer 23

property brought to the marriage

Question 24

townhome liability for neighborhood fees

Answer 24

they can foreclose

Question 25

condo owner liability for neighborhood fees

Answer 25

less likely of foreclosure, more of a breach of contract to the lessor

Question 26

contract for deed if early termination

Question 27

mortgage if early termination

Question 28

implied/presumed knowledge for zoning ordinances form the buyer

Answer 28

presumed if purchasing property, you know of neighborhood patterns of development there is no obligation for the owner to give notice

Question 29

criteria for adverse possession (squatting)

Answer 29

continuous possession (privity- legal connection counts) , open possession (obvious he is there), actual possession, exclusive possession,

Question 30

general warranty

Answer 30

Highest level of protection, protects from previous issues with property even from several owners, gives proof of ownership

Question 31

bargain and sale

Answer 31

indicates only seller holds the title, offers no guarantees for the buyer against other claims to the property buyer subject to existing claims or title defects

Question 32

special warranty

Answer 32

Warrants against problems or encumbrances only during the grantor's ownership does not guarantee against defects that existed before the granter aquired the property

Question 33

quit claim deed

Answer 33

a legal document used for transferring real estate ownership without a sale Offers no warranties, guarantees, title insurance

Question 34

easement appurtenant

Answer 34

grants the right to use another person’s property for a specific and limited purpose. Easements don't go away with the transfer of property court order, subdividing land, needed for reasonable use, result from continuous use overtime

Question 35

variance

Answer 35

permanent excuse not to follow and ordinance

Question 36

non conforming use

Answer 36

giving the party time to come up to code

Question 37

breach of warranty of quiet enjoyment

Answer 37

It ensures that tenants have the right to peaceful and undisturbed possession of the leased premises.

Question 38

warranty of habitatability

Answer 38

requires landlords to maintain their property in a habitable condition, even if the lease does not explicitly mandate repairs. It ensures that tenants have a safe, sanitary, and livable home.

Question 39

constructive eviction

Answer 39

when a landlord takes actions that significantly interfere with a tenant’s use and enjoyment of the premises, even though there is no physical or legal eviction, requires interference, tenant notice, reasonable vacating

Question 40

treatment of withholding total monthly rent for unrepaired violations

Answer 40

You will get evicted. rather pay for repairs yourself and deduct the cost from rent

Question 41

periodic tenancy

Answer 41

no specific ending date. Notice is required, which is usually specified either in the initial lease or by state law.

Question 42

estate for years

Answer 42

the ending date of the lease is specified from the beginning. This is the date that the tenant is expected to vacate the property

Question 43

tenancy at will

Answer 43

property tenure that can be terminated at any time by either the tenant or the owner/landlord. It exists without a contract or lease and it usually doesn't specify the duration of a tenant’s rental or the exchange of payment

Question 44

tenancy at sufferance

Answer 44

is someone who has stayed in the rental after their lease has expired but who has not yet been asked to leave by the landlord