POLS 3301

  1. In modern day property what do people hold land with
    written deed
  2. When land transfers who is gets rid of land/ who takes possession of land
    • grantor- seller
    • grantee-buyer
  3. Where must land transfer be recorded
    court house
  4. If you can't pay whole amount for land who helps
    3rd party-bank
  5. What type of document is required for a mortgage
  6. If you own as much as possible of your land you own it in ____
    fee simple absolute
  7. Others may have the following interest in land
    • 1. mortgage
    • 2. future interest
    • 3. dowry
    • 4. easements
  8. What is the one exception to life estates in land
    Rule against Perpetuities
  9. What does the Rule against Perpetuitites state
    can only give land for life of someone living plus 21 years
  10. What is reversionary interest
    allows land to go back to decendent if something in the will has been broken
  11. How much interest does dowry allow
  12. What are the 3 types of easements
    • 1. expressed
    • 2. long used easement
    • 3. negative easement
  13. Which case said coventants can't restrict selling to certain races
    Shelly v. Kramer
  14. What way 4 ways can you lose your property (rights to your property)
    • 1. squatting
    • 2. zoning
    • 3. nuisance suits
    • 4. eminant domain
  15. What
  16. What case said govt could take land and give to private developers
    Kilo 2005
  17. Which case was about govt trying to make company put in bike trails as part of takings
  18. Lucas case said govt. regulations can't amount to __ ___
    govt. takings
  19. 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
  20. What are the 2 categories for personal properties
    • 1. tangible
    • 2. intangible
  21. A gift needs __, ___, and ___
    intent, deliver, acceptance
  22. What is the one exception to the gift taking back rule
    engagment ring is conditional
  23. Which case is about owning wild animal
    Pierson v. Post
  24. Are you liable if you are a shareholder in a corporation
  25. In a partnership are you personally liable for debt
  26. What is intellectual property
    trademarks, copyrights, patents
  27. Trademarks are for ___
  28. How long are trademarks good for
    as long as it is viable
  29. Patents are for __
  30. Where are patent's registered
    US Patent Office
  31. How long are patents issued
    20 years
  32. Copyright is for ___
  33. do you need govt. persmission for a copyright
  34. How long can copyright last
    life plus 70 years
  35. People can use __ ___ for copyrights
    fair use
  36. What things are required for valid will
    • 1. written
    • 2. witnessed by 2 people
    • 3. signed
  37. What is a holographic wil
    in own writting and signed
  38. What are the 2 circumstances that would prevent a will from being valid
    • 1. mental incapacity
    • 2. unduly influenced
  39. What is it called if you die without a will
  40. Without a will how much does a spouse get and what happens to rest
    1/3 kids/grandkids
  41. Will that is equally split is called
    per capita
  42. will that is proportionally split is called
    per stirpes
  43. In a trust who sets it up and who gets it
    • trustee
    • beneficiar
  44. land in a trust is called
  45. What is the one exception to the rules of perpetutity in trust
    charitable donations
  46. What is cy pres
    finding a similar charitable orginzation if you charity becomes obsolete
Card Set
POLS 3301