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POLS 3301
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In modern day property what do people hold land with
written deed
When land transfers who is gets rid of land/ who takes possession of land
grantor- seller
grantee-buyer
Where must land transfer be recorded
court house
If you can't pay whole amount for land who helps
3rd party-bank
What type of document is required for a mortgage
note
If you own as much as possible of your land you own it in ____
fee simple absolute
Others may have the following interest in land
1. mortgage
2. future interest
3. dowry
4. easements
What is the one exception to life estates in land
Rule against Perpetuities
What does the Rule against Perpetuitites state
can only give land for life of someone living plus 21 years
What is reversionary interest
allows land to go back to decendent if something in the will has been broken
How much interest does dowry allow
1/3
What are the 3 types of easements
1. expressed
2. long used easement
3. negative easement
Which case said coventants can't restrict selling to certain races
Shelly v. Kramer
What way 4 ways can you lose your property (rights to your property)
1. squatting
2. zoning
3. nuisance suits
4. eminant domain
What
What case said govt could take land and give to private developers
Kilo 2005
Which case was about govt trying to make company put in bike trails as part of takings
Dolan
Lucas case said govt. regulations can't amount to __ ___
govt. takings
What are your 4 options if landlords violate contract
1. vacat
2. sue for monetary damages
3. withhold rent or wait for offset
4. repair yourself and deduct from rent
What are the 2 categories for personal properties
1. tangible
2. intangible
A gift needs __, ___, and ___
intent, deliver, acceptance
What is the one exception to the gift taking back rule
engagment ring is conditional
Which case is about owning wild animal
Pierson v. Post
Are you liable if you are a shareholder in a corporation
no
In a partnership are you personally liable for debt
yes
What is intellectual property
trademarks, copyrights, patents
Trademarks are for ___
business
How long are trademarks good for
as long as it is viable
Patents are for __
inventors
Where are patent's registered
US Patent Office
How long are patents issued
20 years
Copyright is for ___
authors
do you need govt. persmission for a copyright
no
How long can copyright last
life plus 70 years
People can use __ ___ for copyrights
fair use
What things are required for valid will
1. written
2. witnessed by 2 people
3. signed
What is a holographic wil
in own writting and signed
What are the 2 circumstances that would prevent a will from being valid
1. mental incapacity
2. unduly influenced
What is it called if you die without a will
interstate
Without a will how much does a spouse get and what happens to rest
1/3 kids/grandkids
Will that is equally split is called
per capita
will that is proportionally split is called
per stirpes
In a trust who sets it up and who gets it
trustee
beneficiar
land in a trust is called
res
What is the one exception to the rules of perpetutity in trust
charitable donations
What is cy pres
finding a similar charitable orginzation if you charity becomes obsolete
Author
bailey826
ID
17534
Card Set
POLS 3301
Description
Final
Updated
2010-05-03T19:41:51Z
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