Wednesday, March 9, 2011

chapter7

1- A government must meet two specific requirements to exercises eminent domain: just compensation and a public use.
a. T
b. F

2- The result of a government exercising a police power to such an extent that a property is nearly unusable and worthless is called:
a. public use
b. inverse condemnation
c. regulatory taking.
d. due process.

3- Concept check is when someone dies with no relatives, his/her property,land, or money goes to fund raising programs.
a.T
b, F
it goes to state government.

4- which of the following is not a fixture:
a. water heater.
b. built in stove.
c. coffee table
d. ceiling fan

5- to determine if an item is a fixture, we consider only two factors: intent of the parties, and test of adaptability.
a. T
b. F
we also consider manner of attachment.

6- A trade fixture is property used in business and considered personal or business property.
a. T
b. F

7- you cannot sell your property divided into more than right, as surface right and subsurface right, in purpose to make more money.
a. T
b. F

8- What is the important order to liens that determines the likelihood that any particular lien holder will be paid back given that the property is liquidated:
a. tax liens, mechanic's lien, mortgage lien
b. mechanic' liens, tax liens, mortgage liens
c. mortgage liens, tax liens, mechanic;s liens
d. tax liens, mortgage liens, mechanic's liens

1 comment:

  1. As for Q3, there is a mistake
    Escheat is when someone dies with no relatives, his/her property,land, or money goes to state government, not concept check.

    ReplyDelete