Law Legal Studies

Property and Trust Law

1,910 Questions

Property and trust law covers ownership rights, leases, adverse possession, and the transfer of assets. These legal principles are fundamental for judiciary exams, UPSC, and state PSCs. Practice these questions to understand property rights and related legal procedures thoroughly.

Adverse possession principlesFee simple absolute ownershipMesne profits legal codeHOA community regulationsReal estate appraisal rules

Property and Trust Law Questions

Multiple choice commercial applications financial accounting and reporting balance sheet, classification of assets and liabilities accounting records of not-for-profit organisations special issues associated with accounts of non-trading concerns accounting procedure for not-for-profit organisations prepration of income and expenditure account

The amount or property received by a non-profit organization as stated by the will of a deceased person is commonly referred to as ______________.

  1. Donation

  2. Honorarium

  3. Legacy

  4. Endowment
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Legacy is the amount received by a non-profit organisation when a person has mentioned about transferring his property value to such organisation on his or her death. Hence, on death of that person, his property will be taken by the non-profit organisation.

Multiple choice commercial applications financial accounting and reporting balance sheet, classification of assets and liabilities accounting records of not-for-profit organisations special issues associated with accounts of non-trading concerns accounting procedure for not-for-profit organisations prepration of income and expenditure account

It is the amount which a non-trading concern receives as per the will of a deceased person___________.

  1. Donations

  2. Life membership fees

  3. Legacy

  4. Specific donation
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Legacy is an amount of property or money left to someone in a will.  It refers to property received by virtue of a will of a deceased person. Acquisition of such property by an institution is a capital receipt because these are not received on a regular basis. Hence, it will not appear in income and expenditure account. It is shown in liabilities side of balance sheet. 

Multiple choice civics public property public property and its protection a house outside village different places for house different types of houses dignity of work

All objects that we possesses as individual make ______ property.

  1. Personal

  2. Family

  3. Public

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The objects or the property possessed by a person is called Personal or Private property. It is owned by a person and every right on that object or property is enjoyed by that individual only not by the society or any community.

Multiple choice civics public property public property and its protection a house outside village different places for house different types of houses dignity of work

Things owned collectively make _____property.

  1. Personal

  2. Family

  3. Public

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Things owned by the individuals are called private property. These things are enjoyed by the individuals only. The things owned or possessed by a community or society are known as public property. Public property is collectively belonged to a group of people together. 

Multiple choice political science the police and the court criminal justice system criminal justice system in india understanding our criminal justice system

"A tenant who is being forced to move out files a case in courts against the landlord". The matter is a concern of _______________.

  1. Civil Law

  2. Social law

  3. Economical law

  4. Criminal law
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Civil courts exercise jurisdiction in the cases related to land, property and money transactions; arbitration; guardianship, marriages; divorce; and cases involving a Will.

Multiple choice geography urban settlements urban land use and urban problems and solutions land use land use patterns

One can get to know under whose ownership the land is from the _______.

  1. 5/12 extract

  2. 7/12 extract

  3. 11/12 extract

  4. 13/12 extract
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

One can get to know under whose ownership the land is from the 7/12 extract. The extract is a record kept by the public revenue department. Serial Number 7 and 12 are distinctive sections of the law pertaining to the ownership of land.

Multiple choice geography urban settlements urban land use and urban problems and solutions land use land use patterns

Ownership of non agricultural land is recorded on the ______.

  1. Ration Card

  2. Aadhar Card

  3. Property Card

  4. Voting Card
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Ownership of non agricultural land is recorded on the property card. This document showing ownership rights and the area of the property is made available from urban land records. It has the following information- city survey number, plot number, amount of tax, area of the property assessed, right to access etc. 

Multiple choice commerce discharge and breach of a contract discharge of contract performance, discharge, breach and remedies of contract business law and contract act

A holds a house on lease. After that he buys the house and became owner. the contract is discharged by __________ .

  1. rescission

  2. merger

  3. waiver

  4. remission
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

When a tenant (who has an inferior right of lease) buys the property (acquiring the superior right of ownership), the lease contract is discharged by the operation of law through merger.

Multiple choice commerce discharge and breach of a contract discharge of contract performance, discharge, breach and remedies of contract business law and contract act

Claim for necessaries of life supplied to a minor can be enforced against _________.

  1. the Minor's property or estate

  2. any relative

  3. the minor personally on attaining majority

  4. the guardian, if any, of the minor
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The law regarding necessaries for a minor is that the minor is not personally liable, but their property or estate can be held liable for the reasonable value of the goods or services supplied.

Multiple choice commerce discharge and breach of a contract discharge of contract performance, discharge, breach and remedies of contract business law and contract act

An illiterate old woman made a gift deed of practically her entire property to her nephew who managed her affairs. The gift can be set aside on the grounds of -

  1. Mistake

  2. Coercion

  3. Fraud

  4. Undue Influence
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

As the nephew may have influenced her to make a contract under such circumstances the contract is invalid.

Multiple choice meaning and characteristics of negotiable instruments the negotiable instruments act, 1881 commerce

Which is not a characteristics of the negotiable instrument?

  1. The holder of the instrument is presumed to be the owner of the property contained in it

  2. They are non-transferrable

  3. A holder in due course gets the instrument free from all defects of title of any previous holder

  4. The instrument is transferrable till maturity
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A key characteristic of negotiable instruments is that they are freely transferable. Therefore, stating they are non-transferable is incorrect.

Multiple choice introduction of business laws business law and contract act business studies

This problem consists of a set of rules and facts. Apply the specified rules to the set of facts and answer the questions.
(Questions 66-69):
Rules:
A. When land is sold, all 'fixtures' on the land are also deemed to have been sold.
B. If a moveable thing is attached to the land or any building on the land, then it becomes a 'fixture'.
Facts:
Khaleeda wants to sell a plot of land she owns in Begbmara, Meghalaya and the sale value decided for the plot includes the fully-furnished palatial six-bedroom house that she has built on it five years ago. She sells it to Gurpreet for sixty lakh rupees. After completing the sale, she removes the expensive Iranian carpet which used to cover the entire wooden floor of one of the bedrooms. The room had very little light and Khaleeda used this light-coloured radiant carpet to negate some of the darkness in the room. Gurpreet, after moving in, realizes this and files a case to recover the carpet from Khaleeda.
As a judge you would decide in favour of

  1. Gurpreet because when the price was agreed upon, Khaleeda did not inform her about removing the carpet.

  2. Gurpreet because the carpet was integral to the Door of the bedroom and therefore attached to the building that was sold.

  3. Khaleeda because a fully-furnished house does not entail the buyer to everything in the house.

  4. Khaleeda because by virtue of being a carpet it was never permanently fixed to the floor of the building. Assume that in the above fact scenario, Khaleeda no longer wants the carpet. She removes the elaborately carved door to the house after the sale has been concluded and claims that Gurpreet has no claim to the door. The door in question was pan of Khaleeda's ancestral home in Nagercoil, Tamil Nadu for more than 150 years before she had it fitted as the entrance to

    her Baghmara house.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Yes, Gurpreet will succeed because as mentioned in the Principle B, a moveable thing which is attached to the land or any building on the land, is a 'fixture', and the expensive Iranian carpet even after being a movable thing was used to cover the entire wooden floor of one of the bedrooms, and hence, was a fixture. By the virtue of Principle A, which asserts that when land is sold, all 'fixtures' on the land are also deemed to have been sold; the carpet was sold to Gurpreet and now, Khaleeda cannot take it away.

Multiple choice installments banking business and commercial activities economics maths

When does the asset legally belong to the purchaser under a hire purchase agreement?

  1. Final instalment is paid and purchaser agrees to a legal option to buy the asset

  2. Purchaser agrees to legal option to buy the asset

  3. Final instalment is paid

  4. On date of first instalment in repayment
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

When, final installment is paid and purchased agrees to a legal option to but the asset, then the asset legally belong to the purchaser under a high purchase agreement.