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Paralegal > Property > Flashcards

Property Flashcards

1
Q

……………….forms the foundation of our economic system.

A

Property ownership

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2
Q

The law protects…………………….. to use, sell, dispose of, control, and prevent others from trespassing on their property rights.

A

the right of property owners

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3
Q

Two Broad Categories of Property:

A
  1. Real property

2. Personal property

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4
Q

…………………………….Sometimes referred to as goods or chattel.

A

Personal property

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5
Q

……………………….land and property that is permanently attached to it.

A

Real property

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6
Q

minerals, crops, timber, and buildings that are attached to land are generally considered ……………….

A

real property.

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7
Q

…………………can become personal property if it is removed from the land.

A

Real property

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8
Q

A tree that is part of a forest is…………….. , but if it is cut down, it becomes……………………

A

real property

personal property.

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9
Q

Personal property that is permanently affixed to land or buildings is called a …………..

A

fixture.

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10
Q

Includes things like heating systems, kitchen cabinets, carpeting, doorknobs, and storm windows.

A

fixture.

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11
Q

Unless otherwise agreed by contract,…………………. remain with the building when it’s sold.

A

fixtures

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12
Q

Two Categories of Personal Property:

A

Tangible and

Intangible

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13
Q

……………….is physically defined property, such as goods and animals.

A

Tangible property

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14
Q

are rights that cannot be reduced to physical form, such as stock certificates, certificates of deposit, bonds, trademarks, copyrights.

A

Intangible property

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15
Q

A person acquires personal property by?

A 
Purchase – most common.
Production.
Gift.
Inheritance.
Mislaid property.
Lost property.
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16
Q

………………..is the most common way of acquiring personal property.

A

Purchase

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17
Q

……………..is gathering raw materials (usually by purchase) and then producing a finished product.

A

Production

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18
Q

A ………………is a voluntary transfer of property without consideration.

A

gift

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19
Q

The……………….. is what distinguishes a gift from a purchase.

A

lack of consideration

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20
Q

The person making the gift is the…………………

A

DONOR

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21
Q

The person receiving the gift is the ……………

A

DONEE

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22
Q

Three Elements of a Valid Gift

A
  1. Donative Intent
  2. Delivery
  3. Acceptance
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23
Q

The donor must………….. to make a gift

A

intend

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24
Q

……………………..must occur for there to be a valid gift

A

Delivery

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25
Q

Delivery must be a physical delivery,………………….. or…………………….. (stock certificate, ownership of corp).

A

constructive delivery, transfer by written conveyance

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26
Q

a person cannot be……………………… to accept an unwanted gift.

A

forced

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27
Q

Title to personal property is often acquired by ………………..

A

will or inheritance.

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28
Q

The owner of the premises has a duty to……………….. of the property until it is reclaimed.

A

take reasonable care

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29
Q

……………………………..does not change ownership or title.

A

Mislaid property

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30
Q

Property is……………………… when its owner negligently, carelessly, or inadvertently leaves it somewhere.

A

lost

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31
Q

…………………is when owner voluntary places property somewhere and inadvertently forgets it.

A

Mislaid Property

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32
Q

The finder obtains title to the property against anyone except ………………………..

A

the true owner.

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33
Q

The……………………… must be returned to the true owner, whether the finder finds the owner or vice versa.

A

lost property

34
Q

The ……………………… may always reclaim the lost property from the finder.

A

true owner

35
Q

Real Property is…………………

A 
Land
Buildings
Subsurfaces rights
plant life and vegetation
fixtures
36
Q

……………………rights may be sold separately

A

Surface & subsurface

37
Q

……………..are so closely associated with real property that it becomes part of real property

A

Fixtures

38
Q

The bundle of legal rights that the owner has to possess, use, or enjoy the property is………………..

A

Estate in land

39
Q

…………………is the highest form of ownership of real property because it grants the owner the fullest bundle of legal rights that a person can hold in real property.

A

Fee Simple Absolute

40
Q

………………is an interest in real property that lasts for the life of a specified person.

A

Life Estate

41
Q

The……………………… is obligated to keep the property in repair and to pay property taxes.

A

Life Tenant

42
Q

The…………………….. can convey no greater right than s/he has.

A

Life Tenant

43
Q

……………..is when a person is given the right to possess property in the future, rather than the present.

A

Future interests

44
Q

Two forms of future interests are………………….

A

reversion and remainder

45
Q

………………………is a right to possession that returns to the grantor after a limited or contingent estate expires.

A

Reversion

46
Q

………………………..is a right to possession that returns to a third party with a limited or contingent estate expires.

A

Remainder

47
Q

When two or more person own a piece of real property, it’s called……………………..or………………….

A

co-ownership

concurrent ownership.

48
Q

Forms of …………………include joint tenancy, tenancy in common, tenancy by the entirely, community property, condominium, and cooperative.

A

concurrent ownership

49
Q

A form of co-ownership that includes a right of survivorship is………………..

A

Joint tenancy

50
Q

A form of co-ownership in which the interest of a surviving tenant in common passes to the deceased tenant’s estate and not to the co-tenants is………………..

A

tenancy in common

51
Q

……………………is a form of co-ownership of real property that can be used by married couples only.

A

Tenancy by the entirety

52
Q

…………………….is like community property for specific real property.

A

Tenancy by the entirety

53
Q

In……………………………..neither party can sell or transfer his or her interest in the property without the other’s consent.

A

Tenancy by the entirety

54
Q

A form of ownership in which each spouse owns an equal one-half share of the income of both spouses and the assets acquired during the marriage is called………………….

A

Community property

55
Q

Texas is one of nine states that recognize what kind of property?

A

community property

56
Q

…………………………….is a form of ownership in multiple-dwelling buildings.

A

Condominium

57
Q

Purchasers of a condo have ………………. to their individual units, and own the common areas (hallways, elevators, parking, rec facilities) as tenants in common with the other owners.

A

title

58
Q

………………..is a form of co-ownership of a multiple-dwelling building in which a corporations own the building and the residents own shares in the corporation

A

Cooperative

59
Q

………………………..might be done by sale, tax sale, gift, or inheritance.

A

Transfer of ownership of real property

60
Q

………………………are used to convey real property by sale or gift.

A

Deeds

61
Q

The seller or donor is called the……………….

A

grantor

62
Q

The buyer or recipient is called the ……………………

A

grantee.

63
Q

……………………..is really a combination of property and contract law.

A

Landlord-Tenant law

64
Q

The transfer of the right to the possession and use of real property for a set terms in return for certain consideration is called

A

lease

65
Q

A………………………. (contract) between a landlord and a tenant.

A

rental agreement

66
Q

………………is the warranty that provides that leased premises must be fit, safe, and suitable for ordinary residential use.

A

Implied warranty of habitability

67
Q

If you pay rent monthly, then you have a……………….

A

month-to-month lease.

68
Q

is there a legal requirement to have a formal lease to rent an apartment?

A

no

69
Q

If I’m late with my rent, can my landlord throw me out?

A

No

70
Q

You may be evicted from a rental place only after:

A

The landlord starts a legal proceeding against you;
You have an opportunity to appear in courts;
The judge orders you to the leave; and
You do not leave on your own.

71
Q

the eviction can be done only by a ……………………or…………………………pursuant to a court order.

A

constable or

sheriff

72
Q

Can I break my lease if my job transfers me to another city?

A

Read your lease – it’s a binding legal agreement and you are controlled by its terms.

73
Q

A law called the………………………….. which may not be waived or changed by your lease, requires the LL to return a security deposit within …………… days after the tenant moves out or give the tenant written notice why the deposit is being kept.

A

Texas Security Deposit Law,

30

74
Q

You are entitled to have your deposit returned only if: ……………….., left the apartment in good condition, and left a forwarding address.

A

you complied with your lease

75
Q

No damages my be deducted for ordinary………………

A

wear-and-tear

76
Q

Is there a security deposit law for commercial tenants?

A

Yes. The Texas Commercial Security Deposit Law.

77
Q

For comercial tenants the law Requires the LL to refund a security deposit no later than the……………………… after the date the tenant moves out and provides a forwarding address.

A

sixtieth day

78
Q

I’ve had to fix several small things in my apartment, can I deduct it from my rent?

A

no, unless the LL agrees

79
Q

……………………..is no good with credit report

A

eviction

80
Q

My apt is so bad I can’t live in it. What are my options?

A

the Warranty of Habitability may apply.

81
Q

Is there a limit on how much my rent can be raised?

A

When a lease ends, the LL can charge whatever s/he wants to charge in terms of rent for the renewal of the lease.

82
Q

Is there a limit on the amount of a pet deposit?

A

No.

Paralegal (25 decks)

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