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Exam 49: Real Property

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Question 31

Multiple Choice

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Which of the following is the most commonly used deed?

A) Quitclaim deed
B) Special warranty deed
C) Warranty free deed
D) General warranty deed
E) Specific warranty deed

F) B) and E)
G) B) and D)

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Question 32

Multiple Choice

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Rights in which a person has the right to remove the underground materials from another person's property is known as ________ rights.

A) subsurface
B) underground
C) earthly
D) neighbor
E) subterrestrial

F) A) and B)
G) C) and D)

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Question 33

Multiple Choice

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Which of the following statements is false regarding a condominium interest?

An easement and a license are the exact same.

[Family Dispute] When Leona and Oscar married, they both had children from previous marriages. After their marriage, Leona and Oscar purchased a home together as tenants by the entirety and lived there for many years. Oscar died when he was 93 and Leona was 95. Oscar's will left any property he owned to his son, David, who promptly told Leona that she needed to get out of the house. Leona told him to forget it. Leona died a week later. Her will left everything she owned to her daughter, Mina, who moved in the home and refuses to leave. Michelle, who had loaned Oscar $10,000, has filed a claim against any heir of Oscar or Leona, including David and Mina, claiming an interest in the home to satisfy the debt Oscar owed her. -Which of the following is true regarding a tenancy by the entirety?

The government wants to take an open lot owned by Sabrina and build a police station. Sabrina is offered $50,000 for the land, but she wants to keep the land or at least receive more money. Must Sabrina sell the land, and if so, must she sell it for the offered price?

[Dentist Lease] Jaston rents space for his new dental office. He installs a chandelier in the reception area and three new dentist chairs. Ten months into the one-year lease, Jaston decides to sublease one of the offices in his rental to a therapist, and tells the therapist to pay the landlord directly. At the end of the lease term, Jaston decides to close the office and move to a smaller space. The landlord, who apparently never received payment from the therapist, wants Jaston to pay the missing rent payments and also tells Jaston he violated the lease by subleasing the property without permission. The landlord also tells him he cannot take the chandelier and dentist chairs because they are fixtures. -May Jaston remove the dentist chairs and take them with him?

When financing for a property purchase is needed, financing is often obtained by going to a financial institution and obtaining a loan to pay for the property in exchange for which the lender receives a security interest in the property called a title.

[Property Claims] Rayyan sells his home to Kayla and her mother, Bridget. The deed and documents of ownership held by Kayla and Bridget are written such that Kayla and Bridget may each sell or devise her interest in the property. Rayyan provides Kayla and Bridget with a general warranty deed. The deed and other documents of sale contain an easement giving Diego a right to cut across the property in order to obtain access to an adjoining lake. Diego had purchased the easement from Rayyan a few years earlier. After Kayla and Bridget moved in, they saw Diego cutting through the yard with his fishing pole. They told him to get out. He told them about the easement, but Kayla told him that she was the new owner and that she was not accepting it. The next week Ann, the next door neighbor, came over to visit and told Kayla and Bridget that she actually owned a good bit of the yard that was conveyed to Kayla in her deed from Rayyan and that she would like to sell it to Bridget and Kayla. Ann explained that some years prior to Rayyan's ownership, she had purchased the property from a previous owner. It turns out that Ann had actually recorded her interest, but it had been inadvertently missed when the property was sold to Kayla and Bridget. Kayla calls Rayyan and tells him to straighten out the problem with Ann. Rayyan tells her that he is finished with the property and that all problems now belong to her and Bridget. -Who will likely win the dispute regarding whether Diego holds a valid easement?

In most states, a broker cannot act as an agent for both buyer and seller unless both parties consent.

Tenants can never sublease their property, however, the landlord can.

[Disgruntled Buyer] Ciaran lived in his home for five years without doing any upkeep of any type. He was aware that the roof leaked, that he had defective piping, and that the air conditioning did not work, among other problems. He sold the home to Luisa. He did not tell her anything about the problems with the house. Shortly after Luisa moved in, there was a thunderstorm resulting in water streaming down from the ceiling. Within a few weeks of her moving in, pipes began to burst resulting in significant water damage. The air conditioner also failed to work when she turned it on for the first time. Luisa demanded that Ciaran refund her purchase price and take back the house. Ciaran sent her a letter providing as follows: Dear Luisa, Caveat emptor. You have marketable title. Regards, Ciaran Luisa is furious and wants to sue. -What does the term "caveat emptor" mean?

[Family Dispute] When Leona and Oscar married, they both had children from previous marriages. After their marriage, Leona and Oscar purchased a home together as tenants by the entirety and lived there for many years. Oscar died when he was 93 and Leona was 95. Oscar's will left any property he owned to his son, David, who promptly told Leona that she needed to get out of the house. Leona told him to forget it. Leona died a week later. Her will left everything she owned to her daughter, Mina, who moved in the home and refuses to leave. Michelle, who had loaned Oscar $10,000, has filed a claim against any heir of Oscar or Leona, including David and Mina, claiming an interest in the home to satisfy the debt Oscar owed her. -Which of the following is true regarding Michelle's claim for the $10,000?

When a person takes ownership of property by treating a piece of real property as his or her own, without protest or permission from the owner, which of the following occurs?

[Disgruntled Buyer] Ciaran lived in his home for five years without doing any upkeep of any type. He was aware that the roof leaked, that he had defective piping, and that the air conditioning did not work, among other problems. He sold the home to Luisa. He did not tell her anything about the problems with the house. Shortly after Luisa moved in, there was a thunderstorm resulting in water streaming down from the ceiling. Within a few weeks of her moving in, pipes began to burst resulting in significant water damage. The air conditioner also failed to work when she turned it on for the first time. Luisa demanded that Ciaran refund her purchase price and take back the house. Ciaran sent her a letter providing as follows: Dear Luisa, Caveat emptor. You have marketable title. Regards, Ciaran Luisa is furious and wants to sue. -Which of the following best describes any duty Ciaran owed to Luisa prior to the sale?

Kendall, who just moved into his new farm, notices his neighbor comes onto Kendall's property every Sunday morning, goes fishing at the lake, and picks apples from Kendall's apple tree. Kendall is aware that the neighbor has an easement to cross his property to access the lake, but the neighbor tells Kendall he can take as many apples as he wants. Is the neighbor correct?

If Carlotta issues a ________ deed to Salem for her property, Carlotta simply conveys to Salem that she is conveying only the interest she owns.

If a deed says, "John and Michelle as husband and wife" this would indicate which type of tenancy?

Rashon owns property next to Jenny's property and he has an easement to use her property. What type of easement does Rashon own?

"Caveat emptor" requires certain disclosures to be made by the buyer to the seller about the condition of the property.