1. Property Law
Donna M. Kesot, CPCU
©March 5, 2013

2. Relationship between owner & rest of
society that includes rights

3. 1. Fee Simple estate
2. Life estate
3. Joint tenancy
4. Tenancy by the entirety
5. Tenancy in common
6. Community property
7. Cooperative ownership
8. Condominium ownership

4. Possession is the exercise of custody or
control

5. Match Landlord-Tenant Estates
Governs lease interests in real
Estate for years property
No fixed termination date,
Tenancy at will automatically renews
Periodic Tenancy Estate for definite period
Permission to occupy as landlord
Holdover tenant desires
Landlord-tenant law Occupancy after expiration of lease

6. A license is permission to use real property
for a particular purpose

7. Government seizure of private property,
usually requiring condemnation?

8. Match the Incorporeal interest to it’s
description
Profits à Prendre Preserves value of land
Zoning, eminent domain, building
Easement codes
Other Incorporeal Interests Possessory right to resources
Lease Situations Non-possessory right of way
Seller’s Restrictions on Land Use Rental matters

9. Can be created by express words, by
implication, or by prescription
e.g. utility, right of way (public shore
rights), access
An easement generally benefits adjacent
land.

10. Match party to description
Objective: describe purpose & operation
Mortgagor Right to contractual compensation
Trust Deed Mortgagee’s right in default
Foreclosure Rights to sell, lease. Or encumber
Contract of land 3 party rights to transferred land
Mechanic’s lien Seller right to retain title

11. Select the correct relationship of
parties to a Trust Deed
Trustee transfers the land to the trustor who manages for
the beneficiary
Trustor inherits the land, trustee manages the land for the
benefit of the beneficiary
Trustor transfers the land to the trustee for the benefit of
the beneficiary
Trustee holds right to borrow against the land, trustor gives
up use of the land for the benefit of the beneficiary
None of the above

12. A lien, granted by law to anyone who repairs a specific
piece of property that secures payment for the repairs. The
contractor must show:
1. Substantial performance of the contract
2. Improvement of a specific piece of property under the
contract
3. Specific mention in the contract of the property to be
improved