Chapter 3

Question 1

curtesy

Answer 1

an interest held by a married person in the real property owned by a spouse; refers to a husband;s interest in his wife’s property.

Question 2

defeasible fee

Answer 2

a type of freehold state conveying ownership interest that comes with a condition.

Question 3

dower

Answer 3

the interest held by a married person in the real property owned by the spouse; generally refers to a wife’s interest in her personal property

Question 4

estate

Answer 4

a possessory interest in real property; either a freehold estate or leasehold estate

Question 5

estate for years

Answer 5

a leasehold estate set to last for a definite period, after which it automatically terminates, also called term tenancy or tenancy for years.

Question 6

fee simple absolute

Answer 6

the greatest (ownership) one can have in real property because it is freely transferable, inheritable of indefinite duration and with no condition on the title.

Question 7

freehold estate

Answer 7

a possessory interest in real property of uncertain (or unlimited) duration, an ownership estate in real property; either fee simple or life estate. the holder of a freehold estate has a title.

Question 8

holdover tenant

Answer 8

a lessee who remains in possession of property after the lease has expired without the owner’s permission

Question 9

homestead

Answer 9

a statutory or legal life estate recognized in some states that protect the estate belonging to a deceased person for the use of surviving spouse and minor children.

Question 10

leasehold estate

Answer 10

the temporary interest that an owner gives to a tenant (lessee) that includes the right of possession and quiet enjoyment, without title. (less-than-freehold-estate)

Question 11

lessee

Answer 11

a person who leases property, a tenant

Question 12

lessor

Answer 12

a person who leases property to another, a landlord

Question 13

life estate

Answer 13

an interest in real property, the duration of which is limited by the life of its owner or another designated person.

Question 14

life estate pur autre vie

Answer 14

a life estate “for another’s life”, where the measuring life is someone other than the life tenant

Question 15

life tenant

Answer 15

someone who owns life estate, the person entitled to possession of the property during the measuring life.

Question 16

measuring life

Answer 16

a person whose life determines the length of a life estate

Question 17

periodic tenancy

Answer 17

a leasehold estate that continues for successive periods of equal length (week to week, or month to month) until terminated by proper notice from either party.

Question 18

possessory interest

Answer 18

an interest in property that entitles the holder to possess and occupy the property, now or in the future; either a freehold interest or leasehold estate

Question 19

remainderman/remainderwoman

Answer 19

a person, other than the grantor, who has a future interest in the estate when life estate ends. a remainder interest is inhertiable.

Question 20

reversioner

Answer 20

the person who grants life estate and retains a future interest in it. a revisionary interest is inhertitable.