1 - Phil owned land on which he operated a small liquor store. The city government decided that his land would be better used as a shopping center. In order for the city to take Phil's land:

A.It must demonstrate that taking the land is in the public's best interest

.B.It must pay Phil the fair market value for his land.

C.It must pay Phil the value of any goodwill of his store

.D.Both "a" and "b".E.All of the above.

2 - Ani bought a home from Nicole in 1995. Ani lived in her home continuously through 2007, paying property taxes each year. The statute of limitations for adverse possession in her state is ten years. In 2007, Ani listed her home for sale. Carlos sought to purchase the home. During the sale process, Carlos discovered that Nicole did not have full title when she sold the home to Ani in 1995. Unbeknownst to Ani, Nicole's ex-husband Hamid never signed a quitclaim deed on the property, so his name is still on title. Under these circumstances, a court would probably find that

A.Ani cut off Hamid's rights to the property under the doctrine of adverse possession.

B.Ani owns the property under the doctrine of tenancy by the entireties and may therefore sell it to Nicole

.C.Ani may not transfer the property to Carlos until Hamid signs a quitclaim deed.

D.Nicole may obtain valid title only after a public posting of notice of claim.

3 - The right to enter land and remove oranges from orange trees on that land is known as a profit.

A.True

B.False

4 - Mark and Sheila bought a home in Julian as tenants in common with equal shares of ownership. One year later, Mark died, leaving a will in which he left his interest in the Julian house to his son, Tom. Under these circumstances,

A.Sheila acquired complete ownership of the property upon Mark's death.

B.Sheila and Tom own the property as tenants in common.

C.Sheila and Mark's estate own the property as tenants in common.

D.Sheila and Tom are co-owners, but Sheila has the right to exclusive possession of the property.

5 - Distinguishing between real and personal property is important because rules of law governing each are different.

A.True

B.False

6 - In community property states, property acquired during marriage must be deemed community property.

A.True

B.False

7 - Owen conveys Blackacre to Alan and Bob, who are brothers. The deed states that Alan and Bob are to hold Blackacre 75% and 25%, respectively. Under these facts:

A.Alan and Bob hold Blackacre as joint tenants with right of survivorship.

B.Alan and Bob hold Blackacre as joint tenants with no right of survivorship.

C.Alan and Bob hold Blackacre as tenants in common.

D.Alan and Bob hold Blackacre as tenants by the entirety.E.Alan and Bob receive no interest in Blackacre--the conveyance is invalid.

8 - A trade fixture becomes part of the real property and stays with it at the end of a lease term.

A.True

B.False

9 - A person who owns property outright without any condition or future contingency affecting title is said to hold the property in:

A.Nonfreehold estate

B.Fee Simple Absolute

C.Life Estate

D.Fee Simple DefeasibleE.Joint Tenancy

10 - An "exclusive right to sell listing" means that a broker receives a commission on a sale of the property even if the broker did not find the buyer.

A.True

B.False

11 - Distinguishing between real and personal property is important because rules of law governing each are different.

True

False