Hey guys, here preparing for Property final and came across these multiple choice questions. Can you guys let me know if I answered them correctly (and if not, why?). Thanks a bunch, and good luck on your finals ~!
1. In a state where the adverse possession statute is 10 years, Roger owns a 20 acre farm. Joe builds a shed on the rear of Roger's farm. After 6 years Joe's brother, Harold, takes over the shed's use. Five years later, Roger brings an eviction action. Who wins?
2. In a state with an equitable distribution statute which statement best describes a spouse's right to marital property.
a. 50% ownership interest
--b. equitable distribution of property upon divorce
c. 50% of all property owned by a spouse upon death of the spouse or a divorce
d. the right to elect up to a 50% interest in spouse=s property
3. A, has a life estate in Roseacre. She gives a deed to B. The estate that B has is;
a. fee simple
b. a life estate
--c. a life estate pur autre vie
d. a contingent remainder
4. O, conveys to C for life, then to D for life, then to E. The estate that E has is:
--a. contingent remainder
b. shifting executory interest
c. remainder in fee simple
d. vested remainder subject to defeasance
5. Which of the following are not present in a Joint Tenancy.
a. identical interests
b. equal right to possession
--c. right to pass an interest by will
d. unity of title
6. O conveys to A for life, then to B and her heirs, but if A divorces, then on the divorce to C. What is A's Estate?
a. Life Estate in Fee Simple.
--b. Life Estate Pur Autre Vie.
c. Life Estate Subject to Executory Limitation.
d. Fee Simple Determinable.
8. O, conveys to A to the children of A who reach the age of 30. A is dead and has children age 3 and 28.
a. the interest of A's children is void
--b. the interest of A's children is valid
9 . Under modern law, the most important distinction (as compared to other tenancies) of the tenancy by the entirety is:
--a. the undivided right to possession
b. the right of survivorship
c. the right to prevent partition
d. the protection from creditors
10 The will of testator provides that property shall be distributed per stirpes and the devisees are two children, A and B. A had a child X, and B had two children, Y and Z. If B is dead at the time of testator=s death, how much of the estate will Y receive?
a. one-fourth of the estate
--b. one-third of the estate
c. all of the estate
d. one-half of the estate
11. The most important reason for submitting an estate into probate is:
a. to reduce estate taxes
--b. to clarify title on property owned by the decedent
c. to allow access by heirs to checking accounts of the decedent
d. to determine the heirs of the estate
12. A tenancy-in-Common has which one of the following characteristics?
--a. undivided interest
b. unity of title
c. right of survivorship
d. ability to be to be devised without probate
13. Which of the following does not result in a tolling of an adverse possession statute of limitation period
a. The owner is under the age of minority
--b. The owner is imprisoned at the time of the adverse possession entry
c. At the death of the owner who has an unsound mind, the property passes to a child, age 13
d. The owner is found to be insane prior to the adverse possession entry
14. In applying the laws of New York, which statement correctly applies to a divorce action.
--a. Professional licenses and college degrees earned during a marriage are subject to equitable distribution.
b. Only professional licenses, and not college degrees, earned during a marriage are subject to equitable distribution.
c. All professional licenses, no matter when acquired, are subject to equitable distribution.
d. College degrees, and not professional licenses, earned during a marriage, are subject to equitable distribution.
15. Ali was eating lunch at an outside picnic table at Bob's Lobster Shack on the Boardwalk. The lobster claw had too much butter on it and slipped out of her hands. When she reached down to pick it up, she found a ring on the Boardwalk under her table. The waitress told Bob, the owner of the lobster shack. Bob ran up and down the Boardwalk until he found Ali exiting the public restroom of the Trumpet Casino. Bob demanded the ring, but Ali cannot find it. Two hours later, Kristin, a maintenance employee of the Casino, finds the ring on the sink while cleaning the restroom. Assuming all parties claim the ring, and applying traditional common law rules, who has the superior claim?
a. Ali, because a finder has superior rights over all but the true owner.
b. Bob, to maximize the chances of returning the ring to the true owner.
c. Kristin, because a finder has superior rights over all but the true owner.
--d. the Trumpet Casino owners, since it was found on their property by Kristin in the course of her duties as their employee.
16. B owns Blackacre in 1985. B is nine years old in 1985. Z enters adversely onto Blackacre in 1985 and continues to possess the property. B is imprisoned in 1993, and dies while still in prison, in 1996. C, B's heir, inherits the property. In what year can Z first claim ownership by adverse possession?
The applicable adverse possession statute reads as follows:
An action to recover the title to or possession of real property shall be brought
within 15 years after the cause of action thereof accrued, but if the person
entitled to bring such action, at the time the cause thereof accrues, is within
the age of minority, of unsound mind, or imprisoned, such person, after the expiration of 15 years from the time the cause of action accrues, may bring such action within 10 years after such disability is removed.
17. Alice writes a check, as a gift, to George. Before George cashes the check, Alice stops payment on the check. Is the gift to George complete?
a. No, because a check is not delivery.
--b. No, because Alice had not relinquished dominion and control of the gift amount.
c. Yes, the gift was delivered, and Alice cannot rescind it.
18. If George and Betty are married, and buy property in a tenancy by the entireties.
Betty fails to file a tax return, and the IRS files a lien against their property. Which best describes the position of the IRS?
--a. The IRS is a tenant in common with George.
b. The IRS can seize the property and sell it.
c. George owns the property free of Betty=s interest.
d. The IRS steps into Betty=s position and could become a joint tenant with George.
19. Helen parks her car in Joseph's parking lot, leaves $4 in a fee slot, and goes to work. Her relationship with Joseph can be described as:
a. A bailment
b. A lease
--c. A license
d. Joseph owes her no special duty.
20. A cotenant not in possession of the jointly owned premises is responsible to the other cotenants for which of the following items:
--a. rent for the use of the premises
b. real estate taxes
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