MIE 305 EXAM 3 STUDY – PROPERTY LAW, REAL AND
PERSONAL PROPERTY, ESTATES & RELATED LEGAL
FRAMEWORKS, QUESTIONS & CORRECT ANSWERS
GRADED A+ (2026)
Real Property - The legal interests in land and things attached to, or growing on land.
Personal Property - Referred to generally as chattel, the rights, powers, and privileges a
person has in things that are not real property, may be transferred by sale, gift, or will.
Chattels Real - An interest in land, such as a leasehold.
Chattels Personal - Moveable personal property.
Chattel Personal in Action - Something to which one has a right to possession, but concerning
which one which may be required to bring some legal action to ultimately enjoy its possession,
ie. check or note.
Bundle of Rights - Dominion and control over something with the right to exclude others.
Possession - The right to claim title over the property, meaning one exerts dominion and
ultimate power over it.
Control - The right to decide how the property is to be used, or employed.
Quiet Enjoyment - A means by which the rights holder can decide how to use the property, or
what or whom may be there at any given time, but differs from control in the sense that it
creates a right to enjoy the property which others, through the law of nuisance, are capable of
violating that is separate from merely whether on controls the property in question.
Exclusion - Gives the rights holder the legal ability to determine who or what is not allowed on
the property.
Alienation/Disposition - The right to dispose of any or all of the rights one holds in property
through sale, gift, or lease.
Encumbrance - The right to place certain burdens upon the property that do not affect
essential possession or alienation rights but nevertheless reduce the value or enjoyment one
may have in it through voluntary action or through operation of law, ie. mortgage.
Fee Simple Estates - Interests classified as either absolute of qualified present interests.
,Fee Simple Absolute - This is the most complete interest a person may have in land and
includes the entire bundle of rights. Such an estate is not qualified by any other interest, and it
passes upon death of the owners to the heir, free from any conditions and existing in
perpetuity.
Qualified/Conditional Fee Simple - A fee simple interest that may be defeated in the future by
the occurrence or nonoccurrence of a stated event or condition.
Life Estate - One's rights in the property end upon the death of the grantee or the duration of
the life of some other designated person, may be conditional upon an event, do not have the
rights of encumbrance or alienation, unless limitations are included interests may be sold or
mortgaged.
Estate in Remainder - If the estate is to be given to someone else upon termination of the life
estate.
Reversion - If the estate is to go back to the original owner, or revert to the heirs upon
termination of the life estate.
Waste - Damage to the real property, so its value is impaired.
Easement - A right that one person has to some profit, benefit, or use in or over the land of
another is created by a deed or acquired by prescription or by implication.
Easement by Prescription - If a party uses an easement for a long period of time the owner of
the land may not deny the existence of the easement.
Easement by Necessity - The owner of the servient land grants an easement to the other
owner by implication.
License - A mere personal privilege given by the owner to another to do designated acts on the
land of the owner.
Tenancy in Common (TIC) - This is the most usual method of two or more persons owning
property at the same time none of the formalities or unities required for other specialized forms
of coownership are essential for this method, ownership rights don't have to be equal, each
owner can enjoy the full property, separate and undivided.
Fully Alienable - Interests may be transferred during life or upon death to whomever they
desire.
Joint Tenancy - Two or more persons that own property, in such manner that they have one
and the same interest, accruing by one and the same conveyance, commencing at one and
the same time and held by one and the same undivided possession, enjoy rights to the entire
property, no unequal share or conveyance by will, conveyance must be aggred upon by all
tenants.
, Right of Survivorship - If one owner dies the interests revert to the remaining owners, ususally
not applied by courts unless there is a contract clearly stating such, all owners must have
equal ownership shares
Unities of Joint Tenancies - Time, title, interest, possession.
Time - Each cotenants interest vested or was acquired at the same time as the others.
Title - Each cotenant acquired his or her interest in the same deed or will as the others.
Interest - Must have identical interests as to their share and quality of title, and they, must all
have it for the same duration.
Severance - If a joint tenant conveys their interests to another party during their lifetime it
would destroy the unities, reverts the relationship.
Tenancy by the Entireties - Joint tenancy with an addition unity of marriage that may only be
terminated through divorce, joint transfer to someone else, or conveyance from one spouse to
another.
Community Property - Created at the time of marriage and continues until separation or death,
each spouse possess equal interests regardless of which spouse earned or acquired the
property.
Eminent Domain - The right that resides in the united states, state, county, city or other public
body to take private property for public use upon payment of just compensation.
Kelo v. City of New London - The taking of privately owned land with just compensation for the
purpose of transferring it to another private owner as part of a development plan is
constitutional under the takings clause.
Lease - A contract by which one person divests themselves of possession of land and grants
such possession to another for a period of time, may be written or oral, expressed or simply
implied, no rights to convey.
Tenancy for a Stated Period - Lasts for a specific time stated in the lease, statue of frauds
requires a written lease if the period exceeds one year, no notice is required when the lease
terminates at the end of the period.
Tenancy from Period to Period - May only be terminated upon giving proper notice.
Holdover - The land lord may object and evict the former tenants as a trespasser, or may
continue to treat them as a tenant.
PERSONAL PROPERTY, ESTATES & RELATED LEGAL
FRAMEWORKS, QUESTIONS & CORRECT ANSWERS
GRADED A+ (2026)
Real Property - The legal interests in land and things attached to, or growing on land.
Personal Property - Referred to generally as chattel, the rights, powers, and privileges a
person has in things that are not real property, may be transferred by sale, gift, or will.
Chattels Real - An interest in land, such as a leasehold.
Chattels Personal - Moveable personal property.
Chattel Personal in Action - Something to which one has a right to possession, but concerning
which one which may be required to bring some legal action to ultimately enjoy its possession,
ie. check or note.
Bundle of Rights - Dominion and control over something with the right to exclude others.
Possession - The right to claim title over the property, meaning one exerts dominion and
ultimate power over it.
Control - The right to decide how the property is to be used, or employed.
Quiet Enjoyment - A means by which the rights holder can decide how to use the property, or
what or whom may be there at any given time, but differs from control in the sense that it
creates a right to enjoy the property which others, through the law of nuisance, are capable of
violating that is separate from merely whether on controls the property in question.
Exclusion - Gives the rights holder the legal ability to determine who or what is not allowed on
the property.
Alienation/Disposition - The right to dispose of any or all of the rights one holds in property
through sale, gift, or lease.
Encumbrance - The right to place certain burdens upon the property that do not affect
essential possession or alienation rights but nevertheless reduce the value or enjoyment one
may have in it through voluntary action or through operation of law, ie. mortgage.
Fee Simple Estates - Interests classified as either absolute of qualified present interests.
,Fee Simple Absolute - This is the most complete interest a person may have in land and
includes the entire bundle of rights. Such an estate is not qualified by any other interest, and it
passes upon death of the owners to the heir, free from any conditions and existing in
perpetuity.
Qualified/Conditional Fee Simple - A fee simple interest that may be defeated in the future by
the occurrence or nonoccurrence of a stated event or condition.
Life Estate - One's rights in the property end upon the death of the grantee or the duration of
the life of some other designated person, may be conditional upon an event, do not have the
rights of encumbrance or alienation, unless limitations are included interests may be sold or
mortgaged.
Estate in Remainder - If the estate is to be given to someone else upon termination of the life
estate.
Reversion - If the estate is to go back to the original owner, or revert to the heirs upon
termination of the life estate.
Waste - Damage to the real property, so its value is impaired.
Easement - A right that one person has to some profit, benefit, or use in or over the land of
another is created by a deed or acquired by prescription or by implication.
Easement by Prescription - If a party uses an easement for a long period of time the owner of
the land may not deny the existence of the easement.
Easement by Necessity - The owner of the servient land grants an easement to the other
owner by implication.
License - A mere personal privilege given by the owner to another to do designated acts on the
land of the owner.
Tenancy in Common (TIC) - This is the most usual method of two or more persons owning
property at the same time none of the formalities or unities required for other specialized forms
of coownership are essential for this method, ownership rights don't have to be equal, each
owner can enjoy the full property, separate and undivided.
Fully Alienable - Interests may be transferred during life or upon death to whomever they
desire.
Joint Tenancy - Two or more persons that own property, in such manner that they have one
and the same interest, accruing by one and the same conveyance, commencing at one and
the same time and held by one and the same undivided possession, enjoy rights to the entire
property, no unequal share or conveyance by will, conveyance must be aggred upon by all
tenants.
, Right of Survivorship - If one owner dies the interests revert to the remaining owners, ususally
not applied by courts unless there is a contract clearly stating such, all owners must have
equal ownership shares
Unities of Joint Tenancies - Time, title, interest, possession.
Time - Each cotenants interest vested or was acquired at the same time as the others.
Title - Each cotenant acquired his or her interest in the same deed or will as the others.
Interest - Must have identical interests as to their share and quality of title, and they, must all
have it for the same duration.
Severance - If a joint tenant conveys their interests to another party during their lifetime it
would destroy the unities, reverts the relationship.
Tenancy by the Entireties - Joint tenancy with an addition unity of marriage that may only be
terminated through divorce, joint transfer to someone else, or conveyance from one spouse to
another.
Community Property - Created at the time of marriage and continues until separation or death,
each spouse possess equal interests regardless of which spouse earned or acquired the
property.
Eminent Domain - The right that resides in the united states, state, county, city or other public
body to take private property for public use upon payment of just compensation.
Kelo v. City of New London - The taking of privately owned land with just compensation for the
purpose of transferring it to another private owner as part of a development plan is
constitutional under the takings clause.
Lease - A contract by which one person divests themselves of possession of land and grants
such possession to another for a period of time, may be written or oral, expressed or simply
implied, no rights to convey.
Tenancy for a Stated Period - Lasts for a specific time stated in the lease, statue of frauds
requires a written lease if the period exceeds one year, no notice is required when the lease
terminates at the end of the period.
Tenancy from Period to Period - May only be terminated upon giving proper notice.
Holdover - The land lord may object and evict the former tenants as a trespasser, or may
continue to treat them as a tenant.
