MIE 305 EXAM 3 EXAM WITH CORRECT
QUESTIONS AND ANSWERS 2025
The legal interests in land and things attached to, or growing on land. - CORRECT-
ANSWERSReal 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. - CORRECT-ANSWERSPersonal
Property
An interest in land, such as a leasehold. - CORRECT-ANSWERSChattels Real
Moveable personal property. - CORRECT-ANSWERSChattels Personal
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. -
CORRECT-ANSWERSChattel Personal in Action
,Dominion and control over something with the right to exclude others. - CORRECT-
ANSWERSBundle of Rights
The right to claim title over the property, meaning one exerts dominion and ultimate power
over it. - CORRECT-ANSWERSPossession
The right to decide how the property is to be used, or employed. - CORRECT-
ANSWERSControl
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. - CORRECT-
ANSWERSQuiet Enjoyment
Gives the rights holder the legal ability to determine who or what is not allowed on the
property. - CORRECT-ANSWERSExclusion
,The right to dispose of any or all of the rights one holds in property through sale, gift, or
lease. - CORRECT-ANSWERSAlienation/Disposition
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. - CORRECT-
ANSWERSEncumbrance
Interests classified as either absolute of qualified present interests. - CORRECT-
ANSWERSFee Simple Estates
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. - CORRECT-
ANSWERSFee Simple Absolute
, A fee simple interest that may be defeated in the future by the occurrence or nonoccurrence
of a stated event or condition. - CORRECT-ANSWERSQualified/Conditional Fee Simple
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. - CORRECT-ANSWERSLife Estate
If the estate is to be given to someone else upon termination of the life estate. - CORRECT-
ANSWERSEstate in Remainder
If the estate is to go back to the original owner, or revert to the heirs upon termination of the
life estate. - CORRECT-ANSWERSReversion
Damage to the real property, so its value is impaired. - CORRECT-ANSWERSWaste
QUESTIONS AND ANSWERS 2025
The legal interests in land and things attached to, or growing on land. - CORRECT-
ANSWERSReal 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. - CORRECT-ANSWERSPersonal
Property
An interest in land, such as a leasehold. - CORRECT-ANSWERSChattels Real
Moveable personal property. - CORRECT-ANSWERSChattels Personal
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. -
CORRECT-ANSWERSChattel Personal in Action
,Dominion and control over something with the right to exclude others. - CORRECT-
ANSWERSBundle of Rights
The right to claim title over the property, meaning one exerts dominion and ultimate power
over it. - CORRECT-ANSWERSPossession
The right to decide how the property is to be used, or employed. - CORRECT-
ANSWERSControl
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. - CORRECT-
ANSWERSQuiet Enjoyment
Gives the rights holder the legal ability to determine who or what is not allowed on the
property. - CORRECT-ANSWERSExclusion
,The right to dispose of any or all of the rights one holds in property through sale, gift, or
lease. - CORRECT-ANSWERSAlienation/Disposition
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. - CORRECT-
ANSWERSEncumbrance
Interests classified as either absolute of qualified present interests. - CORRECT-
ANSWERSFee Simple Estates
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. - CORRECT-
ANSWERSFee Simple Absolute
, A fee simple interest that may be defeated in the future by the occurrence or nonoccurrence
of a stated event or condition. - CORRECT-ANSWERSQualified/Conditional Fee Simple
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. - CORRECT-ANSWERSLife Estate
If the estate is to be given to someone else upon termination of the life estate. - CORRECT-
ANSWERSEstate in Remainder
If the estate is to go back to the original owner, or revert to the heirs upon termination of the
life estate. - CORRECT-ANSWERSReversion
Damage to the real property, so its value is impaired. - CORRECT-ANSWERSWaste
