Property Law Fundamentals

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What is the primary concept of property law that emphasizes the idea of ownership as a collection of rights and limitations?

Property as a Relationship

Bundle of Rights

Property as Value

Bundle of Sticks (correct)

What is the principle that states the first person to discover and occupy a previously unknown land has the right to it?

Discovery Rule (correct)

Agreement Among Nations

Right of Occupancy

Labor Theory

What is the concept of 'capture' in the context of property acquisition, as seen in the Pierson v. Post case?

Intercepting and killing a wild animal (correct)

Granting rights to a property owner

Excluding others from a property

Tagging a dead whale for finders to know

What is the theory that suggests that the person who puts in the labor to transform or improve a property should have the rights to it?

Labor Theory Signup and view all the answers

What is the 'Exception' to the control requirement in the context of property acquisition, as seen in the Ghen case?

Local custom Signup and view all the answers

What is the concept of 'Bundle of Sticks' in the context of property rights, and what can happen to these 'sticks'?

Rights to possess, which can be separated and split Signup and view all the answers

What is the term for the process by which a person's land is transferred to the state if they die without an heir?

Escheat Signup and view all the answers

Which type of estate lasts for an indefinite period of time?

Freehold Signup and view all the answers

What is the term for the interest in land that is not limited by time or condition?

Fee Simple Signup and view all the answers

What type of waste occurs when a life tenant changes the purpose of the property, even if it increases its value?

Ameliorative Waste Signup and view all the answers

What is the term for the person who inherits property according to the law?

Heir Signup and view all the answers

What is the term for the type of estate that is limited to the lifetime of a person?

Life Estate Signup and view all the answers

What is the term for a surviving wife's interest in her deceased husband's inheritable land?

Dower Signup and view all the answers

What type of property ownership system is characterized by equal ownership of property earned during the course of a marriage?

Community Property Signup and view all the answers

What is the purpose of an Elective Share statute?

To give a surviving spouse the option of taking what the decedent provided for in a will or under intestacy Signup and view all the answers

What type of property is not subject to the debts or contracts of a spouse?

Separate Property Signup and view all the answers

What is the term for a type of estate that is limited by the rights of a tenant?

Leasehold Estate Signup and view all the answers

What is the typical share of a decedent's estate provided for by statute in an Elective Share system?

1/3 to 1/2 Signup and view all the answers

Property Law Fundamentals

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