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The Comparative Law of Property

Description: This quiz will test your knowledge of the Comparative Law of Property.
Number of Questions: 14
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Tags: comparative law property law real estate law
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Which legal system is based on the principle of stare decisis?

  1. Common Law

  2. Civil Law

  3. Socialist Law

  4. Religious Law


Correct Option: A
Explanation:

Stare decisis is a legal principle that requires courts to follow the precedents set by higher courts in similar cases.

What is the primary source of law in civil law systems?

  1. Legislation

  2. Case Law

  3. Custom

  4. Legal Scholars


Correct Option: A
Explanation:

In civil law systems, legislation is the primary source of law, followed by case law, custom, and legal scholars.

Which legal system is based on the concept of ownership as a bundle of rights?

  1. Common Law

  2. Civil Law

  3. Socialist Law

  4. Religious Law


Correct Option: A
Explanation:

In common law systems, ownership is viewed as a bundle of rights, including the right to possess, use, enjoy, and dispose of property.

What is the difference between a fee simple and a life estate?

  1. A fee simple is an inheritable estate, while a life estate is not.

  2. A fee simple is a freehold estate, while a life estate is a leasehold estate.

  3. A fee simple is an estate in possession, while a life estate is an estate in expectancy.

  4. All of the above.


Correct Option: D
Explanation:

A fee simple is an inheritable, freehold estate in possession, while a life estate is a leasehold estate that terminates at the death of the life tenant.

What is the rule against perpetuities?

  1. A rule that prohibits the creation of future interests that may vest more than 21 years after the death of the transferor.

  2. A rule that prohibits the creation of future interests that may vest more than 100 years after the creation of the interest.

  3. A rule that prohibits the creation of future interests that may vest more than 500 years after the creation of the interest.

  4. None of the above.


Correct Option: A
Explanation:

The rule against perpetuities is a common law rule that prohibits the creation of future interests that may vest more than 21 years after the death of the transferor.

What is the difference between a mortgage and a deed of trust?

  1. A mortgage is a lien on property, while a deed of trust is a transfer of title to a trustee.

  2. A mortgage is a loan secured by property, while a deed of trust is a sale of property with a right of redemption.

  3. A mortgage is a contract between a borrower and a lender, while a deed of trust is a contract between a borrower and a trustee.

  4. All of the above.


Correct Option: D
Explanation:

A mortgage is a lien on property, a loan secured by property, and a contract between a borrower and a lender. A deed of trust is a transfer of title to a trustee, a sale of property with a right of redemption, and a contract between a borrower and a trustee.

What is the difference between an easement and a covenant?

  1. An easement is a right to use the land of another, while a covenant is a promise to do or refrain from doing something.

  2. An easement is an interest in land, while a covenant is a personal obligation.

  3. An easement is created by grant, while a covenant is created by contract.

  4. All of the above.


Correct Option: D
Explanation:

An easement is a right to use the land of another, an interest in land, and created by grant. A covenant is a promise to do or refrain from doing something, a personal obligation, and created by contract.

What is the difference between a warranty deed and a quitclaim deed?

  1. A warranty deed contains covenants of title, while a quitclaim deed does not.

  2. A warranty deed conveys title to the grantee, while a quitclaim deed does not.

  3. A warranty deed is more expensive than a quitclaim deed.

  4. All of the above.


Correct Option: A
Explanation:

A warranty deed contains covenants of title, which are promises by the grantor that the grantor has good title to the property and that the property is free from encumbrances. A quitclaim deed does not contain any covenants of title.

What is the difference between a lien and a mortgage?

  1. A lien is a charge against property, while a mortgage is a transfer of title to a creditor.

  2. A lien is a security interest, while a mortgage is a debt instrument.

  3. A lien is created by operation of law, while a mortgage is created by contract.

  4. All of the above.


Correct Option: D
Explanation:

A lien is a charge against property, a security interest, and created by operation of law. A mortgage is a transfer of title to a creditor, a debt instrument, and created by contract.

What is the difference between a foreclosure and a power of sale?

  1. A foreclosure is a judicial proceeding, while a power of sale is a non-judicial proceeding.

  2. A foreclosure is initiated by the lender, while a power of sale is initiated by the borrower.

  3. A foreclosure results in the sale of the property, while a power of sale results in the transfer of title to the lender.

  4. All of the above.


Correct Option: A
Explanation:

A foreclosure is a judicial proceeding initiated by the lender that results in the sale of the property. A power of sale is a non-judicial proceeding initiated by the borrower that results in the transfer of title to the lender.

What is the difference between an adverse possession and a prescriptive easement?

  1. Adverse possession is the acquisition of title to property by possession, while a prescriptive easement is the acquisition of a right to use property by prescription.

  2. Adverse possession is based on the principle of abandonment, while a prescriptive easement is based on the principle of adverse use.

  3. Adverse possession requires the possession to be open, notorious, exclusive, and hostile, while a prescriptive easement requires the use to be open, notorious, continuous, and adverse.

  4. All of the above.


Correct Option: D
Explanation:

Adverse possession is the acquisition of title to property by possession, based on the principle of abandonment, and requires the possession to be open, notorious, exclusive, and hostile. A prescriptive easement is the acquisition of a right to use property by prescription, based on the principle of adverse use, and requires the use to be open, notorious, continuous, and adverse.

What is the difference between a zoning ordinance and a building code?

  1. A zoning ordinance regulates the use of land, while a building code regulates the construction of buildings.

  2. A zoning ordinance is enacted by a local government, while a building code is enacted by a state government.

  3. A zoning ordinance is more restrictive than a building code.

  4. All of the above.


Correct Option: D
Explanation:

A zoning ordinance regulates the use of land, is enacted by a local government, and is more restrictive than a building code. A building code regulates the construction of buildings, is enacted by a state government, and is less restrictive than a zoning ordinance.

What is the difference between an eminent domain and a police power?

  1. Eminent domain is the power of the government to take private property for public use, while police power is the power of the government to regulate the use of property.

  2. Eminent domain is a taking of property, while police power is a regulation of property.

  3. Eminent domain requires compensation, while police power does not.

  4. All of the above.


Correct Option: D
Explanation:

Eminent domain is the power of the government to take private property for public use, is a taking of property, and requires compensation. Police power is the power of the government to regulate the use of property, is a regulation of property, and does not require compensation.

What is the difference between a real covenant and an equitable servitude?

  1. A real covenant runs with the land, while an equitable servitude does not.

  2. A real covenant is created by deed, while an equitable servitude is created by contract.

  3. A real covenant is enforceable at law, while an equitable servitude is enforceable in equity.

  4. All of the above.


Correct Option: D
Explanation:

A real covenant runs with the land, is created by deed, and is enforceable at law. An equitable servitude does not run with the land, is created by contract, and is enforceable in equity.

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