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Question 1
Sam conveys Blackacre to Bob "for 1,000 years." Bob has a...
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Incorrect!
Correct
Incorrect!
Correct Any tenancy that is set for a fixed duration, no matter how long, is known as a term of year. Since 1,000 years is a fixed duration, this is a term of years.
Incorrect! Any tenancy that is set for a fixed duration, no matter how long, is known as a term of year. Since 1,000 years is a fixed duration, this is a term of years.
Correct
Incorrect!
Question 2
In 2003, Sam conveys Blackacre to Bob "for 1,000 years, until a woman walks on the Moon." When does Sam get Blackacre back?
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Incorrect!
Correct
Incorrect!
Correct In this case, we have a determinable term of years. The maximum the estate can last is the full term of years. However, another event, a woman walking on the Moon, can cut short the term of years. Therefore, if that event happens, the term ends immediately. The fact that Sam may be dead by then is irrelevant, because Sam's heirs will simply inherit whatever his interest is in Blackacre.
Incorrect! In this case, we have a determinable term of years. The maximum the estate can last is the full term of years. However, another event, a woman walking on the Moon, can cut short the term of years. Therefore, if that event happens, the term ends immediately. The fact that Sam may be dead by then is irrelevant, because Sam's heirs will simply inherit whatever his interest is in Blackacre.
Correct
Incorrect!
Question 3
Sam conveys Blackacre "to Bob and his heirs, but if Bob dies before he reaches the age of 90 , then Steve may take Blackacre." Does Bob have a term of years?
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Incorrect!
Correct In this case, there is no set term for the estate. It can last forever, or it can last for 5 minutes (if Bob dies in 5 minutes). Therefore, Bob has a fee simple interest (or, more precisely, a fee simple subject to a condition subsequent) in Blackacre.
Incorrect! In this case, there is no set term for the estate. It can last forever, or it can last for 5 minutes (if Bob dies in 5 minutes). Therefore, Bob has a fee simple interest (or, more precisely, a fee simple subject to a condition subsequent) in Blackacre.
Correct
Incorrect!
Question 4
Sam conveys Blackacre "to Bob, until a Democrat is elected to the White House." Does Bob have a term of years?
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Incorrect!
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Incorrect!
Correct The answer to this question depends on the jurisdiction that the incident takes place in. Although the time period is not specifically determined at the time of the lease, it is obvious that the parties meant for the estate to have a limited duration. Therefore, some states will call this a term of years. Some states will simply interpret this as creating a tenancy-at-will, while, under the strict letter of the law, it would seem to create a fee simple determinable.
Incorrect! The answer to this question depends on the jurisdiction that the incident takes place in. Although the time period is not specifically determined at the time of the lease, it is obvious that the parties meant for the estate to have a limited duration. Therefore, some states will call this a term of years. Some states will simply interpret this as creating a tenancy-at-will, while, under the strict letter of the law, it would seem to create a fee simple determinable.
Question 5
Luther rents the Hall of Justice from Superman. The lease expires on December 31, 2003. Luther refuses to leave the Hall until January 10, 2004. On January 10, Luther does leave. At that point, what may Superman do?
Correct If a tenant overstays his term of years, the landlord may elect to holdover the tenant for a new term (starting from the day the tenant was supposed to leave) or he may bring an eviction action against the tenant and sue for the fair market value of the rent for the period during which the tenant overstayed his term. The landlord, though, must choose one option or the other; he cannot choose both.
Incorrect! If a tenant overstays his term of years, the landlord may elect to holdover the tenant for a new term (starting from the day the tenant was supposed to leave) or he may bring an eviction action against the tenant and sue for the fair market value of the rent for the period during which the tenant overstayed his term. The landlord, though, must choose one option or the other; he cannot choose both.
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Incorrect!
Correct
Incorrect!
Correct
Incorrect!
Question 6
Which of the following leaseholds requires no notice to terminate?
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Incorrect!
Correct A term of years naturally expires at the end of the term. There is no necessity to give any notice to the tenant, because all parties know well in advance when the tenancy will end. The periodic tenancy requires notice of at least one full period and can only be terminated at the end of a period. The tenancy-at-will requires reasonable notice to terminate.
Incorrect! A term of years naturally expires at the end of the term. There is no necessity to give any notice to the tenant, because all parties know well in advance when the tenancy will end. The periodic tenancy requires notice of at least one full period and can only be terminated at the end of a period. The tenancy-at-will requires reasonable notice to terminate.