BLAW 3391 Pleasant Test 2 Questions and Answers Latest;(2024/2025)/ Graded A+
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Course
BLAW 3391
Institution
BLAW 3391
What liabilities do members of an LLC hold? - All members get limited liability.
. Kelo vs. New London - New London, a city in Connecticut, used its eminent domain authority to
seize private property to sell to private developers. The city said developing the land would create jobs
and increase ...
BLAW 3391 Pleasant Test 2
What liabilities do members of an LLC hold? - All members get limited liability.
. Kelo vs. New London - New London, a city in Connecticut, used its eminent domain authority to
seize private property to sell to private developers. The city said developing the land would create jobs
and increase tax revenues. Susette Kelo and others whose property was seized sued New London in state
court. The property owners argued the city violated the Fifth Amendment's takings clause, which
guaranteed the government will not take private property for public use without just compensation.
Specifically, the property owners argued taking private property to sell to private developers was not
public use. The Connecticut Supreme Court ruled for New London.
How can real property become personal property? - -Removal from land.
-(ex. apple from a tree).
How can personal property become real property? - -Planted into land.
-(ex. planted shrubbery or lumber used to erect building).
Subterranean Rights - -The right to extract minerals from the land.
-These rights can be sold w/o affecting ownership of land.
Air Rights - -The right to build on or over land.
-Important in crowded urban areas.
Easements - -The right granted to a person(s) for beneficial use.
-Run with the land and cannot be sold once recorded.
-(ex. railroad company right to cross property along rail lines).
, What is profit? - -The right to enter another person's land and take some portion of its natural
resources.
-(ex. right of timber company to harvest trees from another person's property).
What is a license? - -Right to enter land for a specific purpose.
-Generally, the owner receives payment or share of profits for the license.
-(ex. merchandise stand on street corner).
Freehold Estate - -Person owns the land either for life or forever.
-Can transfer ownership by sale, gift, or leaving it a heir.
Leasehold Estate - -A person has an interest in real property and has the right to possess subject
to the provisions of a lease.
-Not ownership.
Fee Simple - -Holds the freehold estate absolutely.
Life Estate - -Holds the freehold estate only during lifetime.
-Usually created by a deed(document used to transfer ownership in real property) or by inheritance.
What is real property? - -Land and everything attached.
-Law states land is owned to the center of the earth
What are the three types of co-ownership? - -Property can be held by one person, two or more,
or a business
Tenancy in Common:
-most common
-each owner has the right to sell without consent of other owners, to own an unequal share of the
property, and to have a creditor attach their interest
-descendants share is passed to their heir at death
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