A Property Owner Who Holds Fee Simple Title to Land

question 1

Multiple Choice

A property owner who holds fee simple title to land will have all of the following "sticks" in his bundle of rights EXCEPT the right to

• A) occupy and use it.
• B) restrict the use of it.
• C) devise it.
• D) violate building, health and safety codes.

---

Definitions:

Foreclosure

A legal process by which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments by forcing the sale of the asset used as the collateral for the loan.

Mortgage

A legal agreement by which a bank or creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Innocent Misrepresentation

A false statement made by someone who believes it to be true, leading to a contractual agreement that can be voided.

Remedies

Legal means for enforcing a right or redressing a wrong, including monetary damages and specific performance.