Hello, I just saw this this AM, I apologize I had not known about it before.
1. Sammy took out a home insurance policy on the home of his neighbor, Ed. Three months later, Ed's home mysteriously burned down. Sammy attempted to collect on the policy he purchased earlier. Which of the following is true regarding this set of facts?
B. Sammy can't collect the insurance proceeds because he lacked an insurable interest at the time the policy was purchased.
2. Mildred deeded property to her daughter, Victoria. The deed explicitly stated that Mildred would remain the owner of the property for the remainder of her life, and that at her death. Victoria would become the owner of the property. What type of possessory interest does Mildred possess after the transaction?
C. Life estate
3. In his will, Max leaves his home, and the five acres upon which the home sits, to his wife, Selena. Max leaves his 1965 Mustang Convertible to his son, Peter, and his vintage wine collection to his daughter, Molly. Which of the following is true about this set of facts?
B. Selena received real property owned by Max, while Peter and Molly received personal property owned by Max.
4. Sam is leaving his hometown for an extended trip to Europe. Sam decides to leave his Corvette at his friend Freddie's house. Freddie is at work when Sam leaves the Corvette in his driveway, with the keys in the ignition. Two years later, Sam returns and calls Freddie to ask when he can pick up his car. A bailment probably doesn't exist in this situation, because no
B. bailment agreement existed in this instance.
5. Leopold owns 100 acres in a remote place that he rarely visits. One day, Kate sets up camp in the middle of the 100 acres, and ends up living on the land and using the land for her provisions for 15 years. Kate probably owns this land due to transfer by
B. adverse possession.
6. Noe agrees to pay Jason $75.00 per week to live in an apartment owned by Jason. Noe has a _____ estate.
7. Ella is a 90-year-old woman who lives in a nursing home. Ella constantly calls her nurse's aide, Elizabeth, the name of Ella's grown daughter who lives in another city. Further, Ella insists on preparing breakfast, lunch, and dinner for her family every day, even though her family doesn't live with her in the nursing home. One day, Ella writes out on a sheet of paper, "All I have goes to Elizabeth." Ella signs the piece of paper. A valid will may not exist in this instance because
B. Ella may have lacked testamentary capacity.
8. Bazel and Bennie own several investment properties together. Each of the properties was deeded so that upon the death of either Bazel or Bennie, each individual's share will pass to the deceased's heirs. What type of ownership do Bazel and Bennie possess in the investment property?
A. Joint tenancy
9. Suzie was walking down the street when a $10 bill fell out of her pocket. Billy came along a few minutes later, and because he didn't see that the money came from Suzie's pocket, Billy put the money in his own pocket. Which of the following is true about this set of facts?
C. Suzie owns the $10, even if she fails to demand the money.
10. Sabrina owns ten houses, three automobiles, five mobile homes, and a strip mall. Which of the following is true about this set of facts?
C. The houses and strip mall are classified as real property, while the automobiles and
mobile homes are classified as personal property.
11. Billy wants to ensure that one day his children will receive all of the land he owns. Billy may use which one of the following methods to transfer his land to his children?
12. Lillie has the right to drive her automobile over Tim's land. Lillie can convey this when she conveys her property.
13. Blake grants Travis the right to enter Blake's property and to cut down timber for Travis's timber business. Travis possesses a/an
D. easement in gross.
14. Woody owns a movie theater. One night, Woody finds a purse beside one of the seats in the theater after all of the moviegoers have left for the evening. Given this set of facts, Woody
A. may become the owner of the purse and its contents, if he doesn't know the identity of the true owner.
15. Edgar, who is 80 years old, handwrites the following: "I leave everything I own to my wife, Edna." Edgar signs the document. This document is
A. not a valid will because no witnesses were present.
16. Drew takes out $1 million in life insurance on his cat, Fluffy. When Fluffy dies, Drew seeks to receive the benefits under the policy. Drew will likely fail to receive the benefits, because Drew
C. can't take out life insurance for a cat
17. Belle conveyed 10 acres of land to her daughter, Martha, by deed. No restrictions exist regarding Martha's ownership. Martha received a
C. fee simple absolute by gift
18. Terrance dies without a will, leaving behind two biological sons, an adopted daughter, and a stepson. Which of the following is true about this set of facts?
A. The two biological sons and the adopted daughter will equally share Terrance's estate.
19. Sherry lives in Roger's house and pays Roger rent every week. Sherry doesn't possess a bailment because
B. bailments arise only with personal property.
20. Meg has a ticket to see a performance of Hamlet. This ticket is an example of a/an
I am pretty sure of these, even of the two in blue, which I was at first unsure about.