Property Quiz 1
This quiz will test your understanding of basic definitions for the Bar Exam and 1L property classes.
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- 1.
O conveys property to A and his heirs for so long as B lives. A has a
- A.
Fee simple absolute.
- B.
Life estate.
- C.
Fee simple determinable.
- D.
Fee simple but his heirs have a possibility of reverter.
Correct Answer
B. Life estate. -
- 2.
A fee simple determinable is an example of a
- A.
Defeasible estate because the estate may terminate before its maximum duration.
- B.
Life estate because the death of the owner ends the estate.
- C.
Future interest because we do not know when the grantee will take possession.
- D.
Possibility of a reverter because the person in possession of the estate must devise the estate to his children (provided the children are over 21).
Correct Answer
A. Defeasible estate because the estate may terminate before its maximum duration. -
- 3.
A fee simple absolute is an example of
- A.
A life estate because, by definition, the owner will possess the land until his passing.
- B.
A determinable estate because we know the identity of the owner.
- C.
A defeasible estate because the owner may not own the property for its maximum possible duration.
- D.
A freehold estate because he holds the estate as an owner, and does not merely possess the property.
Correct Answer
D. A freehold estate because he holds the estate as an owner, and does not merely possess the property. -
- 4.
The fee simple subject to condition subsequent gives the grantor
- A.
The right to retake the property upon the occurrence of a future event.
- B.
An automatic reversion upon the occurrence of a future event.
- C.
A leasehold estate.
- D.
A contingent remainder.
Correct Answer
A. The right to retake the property upon the occurrence of a future event. -
- 5.
O grants property to A for life. What type of interest does O have?
- A.
A fee simple absolute.
- B.
A reversionary interest.
- C.
An executory interest.
- D.
A springing executory interest.
Correct Answer
B. A reversionary interest. -
- 6.
O conveys property to B for B's life and the remainder to his child, C, if C is over the age of 18. C is 16 years old. B is 40. What type of interest does C have?
- A.
A fee simple subject to a reversion.
- B.
A vested remainder.
- C.
A contingent remainder.
- D.
A reversion.
Correct Answer
C. A contingent remainder. -
- 7.
O conveys property to B for B's life, and the remainder to B's children. C is B's 17 year-old child. What type of interest does C have?
- A.
A vested remainder subject to open.
- B.
A contingent remainder.
- C.
A reversion.
- D.
A life estate determinable.
Correct Answer
A. A vested remainder subject to open. -
- 8.
A and B are joint tenants. Which of the following must be true?
- A.
A and B are married, or deemed legally married in their jurisdiction.
- B.
A and B must remain joint tenants for 21 years, or designate an appropriate substitute tenant.
- C.
If A became a tenant first, his tenancy began within one year and a day of B's tenancy.
- D.
If A dies, B will take A's interest in the property.
Correct Answer
D. If A dies, B will take A's interest in the property. -
- 9.
Which of the following is NOT required to prove adverse possession?
- A.
The adverse possession was visible to the heirs of the owner.
- B.
The adverse possession was visible to the owner.
- C.
The adverse possession was notorious.
- D.
The adverse possessor actually or constructively possessed a portion of the property.
Correct Answer
A. The adverse possession was visible to the heirs of the owner. -
- 10.
What warranties are included in a quitclaim deed?
- A.
There are no title defects in the property.
- B.
There were no title defects during the period that the person conveying the property owned the property.
- C.
None.
- D.
The property is suitable for residence or small business purposes.
Correct Answer
C. None. -
- 11.
Which is the best definition of a race statute?
- A.
The person who records first without notice will prevail over a person who received the property earlier but did not record.
- B.
The person who records first will prevail over a person who received the property earlier but did not record.
- C.
The person who records second will prevail regardless of whether another person recorded first.
- D.
The person who records second will prevail, provided he did not have notice that another person recorded first.
Correct Answer
B. The person who records first will prevail over a person who received the property earlier but did not record. -
- 12.
Which of the following is true of a state with a race-notice statute?
- A.
An unrecorded conveyance is valid against a subsequent purchaser who, without notice of the conveyance, records first.
- B.
An unrecorded conveyance is invalid against a subsequent purchaser who, without notice of the conveyance, records first.
- C.
A recorded conveyance is invalid against a subsequent purchaser who, without notice of the conveyance, records second.
- D.
An unrecorded conveyance is invalid against any subsequent purchaser.
Correct Answer
B. An unrecorded conveyance is invalid against a subsequent purchaser who, without notice of the conveyance, records first. -
- 13.
What is the difference between a judicial foreclosure and a power-of-sale foreclosure?
- A.
A judicial foreclosure occurs after a default on a payment obligation secured by a mortgage. A power-of-sale foreclosure occurs at the discretion of the person to whom the obligation is owed.
- B.
A judicial foreclosure occurs after a default on a payment obligation secured by a mortgage. A power-of-sale foreclosure is illegal in most states.
- C.
A judicial foreclosure, unlike a power-of-sale foreclosure is public and must be properly noticed.
- D.
A judicial foreclosure, unlike a power-of-sale foreclosure, extinguishes junior interests.
Correct Answer
C. A judicial foreclosure, unlike a power-of-sale foreclosure is public and must be properly noticed. -
- 14.
Which is the best definition of equity of redemption?
- A.
After default but before foreclosure, the mortgagor has the right to pay the debt due. In some states the right to redeem continues for a period after foreclosure.
- B.
After foreclosure, the mortgagor has the right to punitive damages against the purchaser of the property. In some states, the right to punitive damages is limited by statute.
- C.
After default, the mortgagor must foreclose on the property. In some states, the requirement to foreclose continues even if the debt is paid.
- D.
After foreclosure, equity in the estate is distributed to the living heirs of the mortgagor.
Correct Answer
A. After default but before foreclosure, the mortgagor has the right to pay the debt due. In some states the right to redeem continues for a period after foreclosure. -
- 15.
Which is the best example of an easement appurtenant?
- A.
A holds a mortgage on B's property.
- B.
A has the right to use B's property for the benefit of A's property.
- C.
A has the right to use B's property but A's use does not benefit A's use of his land.
- D.
A has the right to use his own property provided his use would be deemed by a reasonable person as beneficial to his community.
Correct Answer
B. A has the right to use B's property for the benefit of A's property. -
- 16.
Which is the best example of a license?
- A.
B grants A personal permission to use her property.
- B.
A encroaches on B's property openly and notoriously for a period of 21 years.
- C.
A requires access to B's property to reach a public road.
- D.
B's lease provides that she may keep pets on the property.
Correct Answer
A. B grants A personal permission to use her property. -
- 17.
Which of the following is the best definition of a covenant that runs with the land?
- A.
Oral or written permission for a person to use someone else's property.
- B.
An oral or written promise to convey land at a date certain, provided that the conveyance will occur within a year.
- C.
A written promise to do something, or refrain from doing something, with respect to real property.
- D.
A written promise to purchase real property at a date certain.
Correct Answer
C. A written promise to do something, or refrain from doing something, with respect to real property. -
- 18.
True or False? A periodic tenancy has a fixed termination date.
- A.
True
- B.
False
Correct Answer
B. False -
- 19.
True or False? A tenancy for years has a fixed termination date.
- A.
True
- B.
False
Correct Answer
A. True -
- 20.
The implied warranty of habitability applies to commercial leases.
- A.
True
- B.
False
Correct Answer
B. False -
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Nov 20, 2016Quiz Edited by
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Nov 20, 2016Quiz Created by
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