Chapter 2

Question 1

Which of the following is generally considered real property?

a. Emblements
b. Annual crops
c. A shrub planted in a decorative pot
d. A perennial shrub planted in the backyard

Answer 1

d. a perennial shrub planted in the backyard

Question 2

The phrase, bundle of legal rights

a. is part of the definition of real property.
b. is another name for legal description.
c. refers to the legal documents used in real estate transactions.
d. refers to the tenant’s rights in a lease.

Answer 2

a. is part of the definition of real property

Question 3

A trade fixture is considered

a. a fixture.
b. an easement.
c. personalty.
d. a license.

Answer 3

c. personalty (typically these are items you add with a business and can take with you once your lease is up. For example, a pizza oven moved in to a pizza parlor)

Question 4

Which of the following is considered personal property?

a. Masonry fireplace
b. Porch and window awnings
c. Bathtubs
d. Patio furniture

Answer 4

d. Patio furniture

Question 5

Real property can become personal property by

a. severance.
b. purchase.
c. hypothecation.
d. attachment.

Answer 5

a. severalty
(The process of this would be severance. For example, when trees ( which are real property because they are attached to the lot/they go with the property) are cut down and made into firewood, they are severed from the property and become personal property.)

Question 6

A seller is under contract to sell a property using the NCBA/NCAR 2-T Offer to Purchase and Contract. The elegantly decorated master bedroom has vertical window blinds, hand-painted light switches and electrical outlet covers, and draperies fashioned from fabric coordinated with the wallpaper. Which of the following items may the seller legally remove before the close of the transaction?

a. None of the items
b. The draperies and blinds
c. The hand-painted items
d. The draperies

Answer 6

d. the draperies (because the item is movable and is not attached to the property)

Question 7

.A rancher owns a parcel of land with all subsurface, air,and water rights intact. If oil is discovered on the parcel of land, who owns the oil?

a. The rancher
b. The tenant farmer to whom the property has been leased
c. The state government
d. The federal government

Answer 7

a. The rancher (he owns the subsurface rights which are the rights beneath the parcel of ground that he owns, so the rights to the oil are lawfully his.)

Question 8

A commercial tenant attaches several items to the rental property during the term of the lease. Those items are considered

a. fixtures and become part of the landlord’s real property.
b. emblements and are treated as personal property of the tenant.
c. trade fixtures and may be removed by the tenant by the end of the lease.
d. easements and increase the value of the property.

Answer 8

c. trade fixtures may be removed by the tenant by the end of the lease.

Question 9

Personal property includes all of the following EXCEPT

a. chattels.
b. trade fixtures
c. emblements.
d. fixtures.

Answer 9

d. fixtures (Fixtures are items that typically stay with the property when the item is sold/transferred like chandeliers, light fixtures, blinds. These are typically things that are bolted down or glued down or somehow stuck to the property. All other items would be considered personal property because you can move it and it does not permanently belong to the property),

Question 10

Fixtures are

a. real property.
b. chattels.
c. removable by a tenant before the expiration of the lease.
d. removable by a tenant after the expiration of the lease.

Answer 10

a. real property (fixtures are things that are affixed/permanently attached to a property like a bush planted, trees, a dock, etc, “things that aren’t typically movable from the property like a washer/dryer, fridge, microwave, etc)

Question 11

After construction of a building over a railroad right-of-way, the trains may

a. operate as usual.
b. no longer use the tracks under the building.
c. use the tracks under the building only if they cause no problem for the building’s occupants.
d. use the tracks under the building as long as they first obtain the building owner’s permission.

Answer 11

a. operate as usual

Question 12

Generally, personal property can be distinguished from real property by its

a. size.
b. mobility.
c. value.
d. multiplicity of use.

Answer 12

b. mobility

Question 13

A business owner rents an empty building to use as an ice cream parlor. The tenant subsequently installs large freezer units and several service counters. These additions

a. are considered permanent improvements to the property.
b. became the landlord’s property once attached to the building.
c. can be legally removed by the tenant at the termination of the lease.
d. can only be removed by the tenant with the landlord’s permission.

Answer 13

c. can be legally removed by the tenant at the termination of the lease.

Question 14

.All of the following are tests for determining a fixture EXCEPT

a. intent of the parties.
b. size of the item.
c. method of attachment of the item.
d. adaptation of the item to the real estate.

Answer 14

b. size of the item. (Remember the acronym IRMA when it comes to testing for determination of a fixture; I Intent of the parties, R Relationship of the parties,M Method or degree of attachment and A Adaption of the item)

Question 15

The owner of a house wants to fence the yard for a dog. When the fence is bolted into the ground, the fencing materials are converted to real estate by a.severance.

b. annexation.
c. immobility.
d. indestructibility.

Answer 15

b. annexation (annexation describes the process of the chattel( which is movable or personal property) or the fence in this case becomes annexed to the property, making it real property; property that is attached to the home)

Question 16

The rights of ownership of real property include all of the following EXCEPT
a.disposition.
b.exclusivity
.c.control.
d. compatibility.

Answer 16

d. compatibility (The rights of enjoyment or the “bundle of rights” is made up of five different rights: the right of possession, the right of control, the right of exclusion, the right of enjoyment and the right of disposition.)

Question 17

A person who has complete control over a parcel of real estate is said to own a

a. leasehold estate.
b. fee simple estate.
c. life estate.
d. defeasible fee estate.

Answer 17

b. fee simple estate ( In this , a person has complete control over a property and can do with it as they see fit as an owner. If they want to cut the grass, they can. If they want to plant a tree, they can!)

Question 18

18. A North Carolina beachfront property owner owns the land on the ocean side of the property to the
    a.average high tide line
    .b.average low tide line.
    c.international waters line.
    d.middle of the foreshore.

Answer 18

a. average/mean high tide line (between this and the foreshore line is considered public use)

Question 19

Which of the following has an indefinite ownership period?

a. Freehold estate
b. Non-freehold estate
c. Estate for years
d. Estate at will

Answer 19

a. freehold estate (freehold estates include life estates which are those given to a person for life.

Question 20

A homeowner acquired the ownership of land that was deposited by a river running through her property by

a. reliction.
b. succession.
c. avulsion.
d. accretion.

Answer 20

d. accretion (accretion is erosion but not as sever such as debree left over from 2in. rainfall or a deposit of dirt being transferred over from a river running over as opposed to an avulsion, which is severe erosion, typically caused by something major like a hurricane or a tsunami)

Question 21

A woman wishes to donate a vacant lot that she owns in fee simple absolute to a hospital that is located next to her lot. An attorney prepares a deed that conveys the ownership of the lot to the hospital “as long as it is used for medical purposes.” After the completion of the gift, the hospital will hold a

a. pur autre vie estate.
b. fee simple absolute estate.
c. fee simple determinable estate.
d. fee simple to a condition subsequent estate.

Answer 21

c. fee simple determinate estate ( In this conveyance, the most common types of fee defeasible estate are a fee simple determinate simply states that the land or home or business can be used as long as it stays what it is or for what it is; for example, the hospital was used for hospital purposes. A Fee Simple Subject to Condition Subsequent simply states that the land, business or home can be used but may not turn into a nightclub or a hog farm. These rights come under a condition.)

Question 22

The most all-inclusive type of real property ownership is a

a. fee simple estate.
b. conventional life estate.
c. qualified fee estate.
d. reversionary interest.

Answer 22

a. fee simple estate ( key word: all-inclusive meaning everything)

Question 23

The rights of the owner of property located along the banks of a small stream are called

a. littoral rights.
b. subjacent rights.
c. riparian rights.
d. hereditaments.

Answer 23

c. riparian rights ( riparian means located near a small stream, river or lake)

Question 24

The ownership rights to real estate include all of the following EXCEPT

a. buildings located on the property.
b. air space above the property.
c. easements running with the land.
d. navigable rivers running through the property.

Answer 24

d. navigable rivers running through the property (

Question 25

A deed that conveys ownership to the grantee as long as the existing building is NOT destroyed creates a a. life estate. b. non-destructible estate. c. fee simple estate. d. defeasible fee estate.

Answer 25

d. defeasible fee estate

Question 26

The North Carolina owner of a secluded area adjacent to the Atlantic Ocean noticed that people from town walked along the shore in front of this property. The owner learned that the local citizens had been walking along this beach for years. The owner went to court to try to stop people from walking along the water's edge in front of the property. The owner is likely to be a. unsuccessful, because the local citizens have been doing this for years and thus have an easement. b.unsuccessful, because the owner's property extends only to the high-water mark and the public can use the land beyond this point. c.successful, because the owner's property extends to the middle of the water bed .d.successful,because the owner can control access to his own property.

Answer 26

b.unsuccessful, because the owner's property extends only to the high-water mark and the public can use the land beyond this point.

Question 27

A woman conveys a life estate to her son-in-law and stipulates that upon his death the estate will pass to her grandson. The grandson has an a. estate in reversion. b. estate in remainder. c. estate pur autre vie. d. estate for the life of another.

Answer 27

b. estate in remainder ( An estate in remainder is the right to own and possess the land after the fixed interest of current holder expires.

Question 28

A life estate conveys to the life tenant a. a leasehold for life. b. a reversionary interest. c. an estate pur autre vie. d. ownership for life.

Answer 28

d. ownership for life ( key word "life estate" = for life)

Question 29

A property owner conveys the ownership of his apartment building to a nursing home, anticipating that the rental income will help pay for his father's care at the home. When his father dies, the original owner will recapture the ownership of the apartment building. This is an example of a a. remainder life estate. b. conventional life estate. c. life estate pur autre vie. d. leasehold estate.

Answer 29

c. life estate put atria vie (An estate in land which is given by a grantor to a party only for the duration of the life of a third party, and for which ownership will revert to another upon the death of that third party.

Question 30

A buyer contracts to purchase real property with the intention of having title transfer to her children upon her death. Which of the following is the best way for the buyer to take title to the purchased property? a. A conventional life estate b. A fee estate c. A joint tenancy d. An estate with reversionary interest

Answer 30

b. a fee estate ( A fee simple estate is the easiest and simplest way for a buyer to take title, In a conventional life estate, one is granted limited ownership to someone for as long as they live, and in a joint tenancy and a joint tenancy is a legal way to title property when multiple individuals purchase it together, with equal interest in and equal rights to the property, and in an estate with reversionary interest and reversionary interest states that the property will revert back To it's original owner if a situation occurs.)

Question 31

A person who acquired ownership that can be inherited, with the provision that the land must always be used for recreational purposes, has a. a fee simple absolute estate. b. a fee simple determinable estate. c. a fee simple to a condition subsequentestate. d. an estate that cannot be sold.

Answer 31

b. fee simple determinable estate ( a fee simple determinable estate means that land given can only be used for whatever it is that it is being stated to use for and if this is violated, the ownership will automatically terminate. For example, Fred gives land to Barney as long as the land is ONLY used for corn. Im a fee simple to a condition subsequent estate, it is similar to a fee simple determinable except for their is a condition attached. For example, for instance, this land can be used only if it stays a church or only if it stays a hog farm...their is a condition attached.

Question 32

A brother and sister bought a commercial building and took title as joint tenants with right of survivorship. The brother died testate. The sister now owns the building a. as a joint tenant with right of survivorship with her brother’s heirs. b. in severalty. c. as a tenant in common with her brother’s heirs. d. as a life tenant with her brother’s heirs having remainder interest.

Answer 32

b. severalty ( severalty means to be cut off or in this case means that now there is one, in this case, the brother passed and now she is the only owner. In a survivorship, the brother died testate, meaning without a will and in survivorship with joint tenancy, usually the rights are given to the heirs by way of will, tenancy in common is usually set in place when their is no right of survivorship and in this case, they were joint tenants with rights of survivorship.

Question 33

An owner of a fee simple estate sells the property with the condition that he will continue to own the entire property until his death. The seller has a a. conventional life estate. b. dower interest. c. reversionary interest. d. remainder interest.

Answer 33

a. conventional life estate ( the owner stills owns the property till his death but sells the property so because he still owns it and their isn't someone who owns it after the "remainder of his death" which would be the remainder interest and the land doesn't revert back to the owner after a situation/death occurs, so it isn't reversionary interest)

Question 34

A person currently has the legal right to occupy and use a certain residential structure. The interest in the property could be all of the following EXCEPT a.fee simple. b.remainder. c.leasehold. d.life estate

Answer 34

b. remainder ( a fee simple gives complete ownerships in the CURRENT, a leasehold means to have CURRENT ownership over a period of time, a life estate means to have complete ownership for life and the reason remainder is the answer is because the estate isn't there's currently, you have FUTURE interest after the remainder of time is finished that was established)

Question 35

A brother and a sister can NOT concurrently own real estate in North Carolina as a. remainder devisees. b. tenants by entireties. c. joint tenants. d. tenants in common.

Answer 35

d. tenants by entireties ( this is only a concurrent ownership by marriage)

Question 36

A man lives in an apartment building. The land and structures are owned by a corporation, with one mortgage loan covering the entire property. Like the other residents, the man owns stock in the corporation and has a lease to his apartment. This type of ownership is called a a. condominium. b. planned unit development. c. time-share. d. cooperative.

Answer 36

d. cooperative - anytime you hear "owning stock or anything to do with stock, think cooperative.

Question 37

Co-owners of a fee simple interest in a small office building are neither related to nor a creditor to each other. One owner dies intestate. The surviving owner would become the sole owner of the property under which of the following rights? a. Adverse possession b. Reversionary interest c. Survivorship d. Foreclosure

Answer 37

c. survivorship ( Because the owner dies intestate; meaning without a will and the surviving owner gained ownership, this would make it a survivorship, not reversionary interest because the land didn't revert back to the owner after the property was given/sold, Adverse possession is a legal doctrine that allows a person to claim a property right in land owned by another for example if one had put up a fence slightly on the next door neighbor's property, they can claim ownership of that, so it isn't this and a foreclosure is a method of enforcing payment of a debt from a home)

Question 38

Three joint tenants own a parcel of land. One owner sells his interest to along-time friend. After the conveyance, the remaining original owners a. become tenants in common with each other. b. become tenants in common with each other and the newest owner. c. become joint tenants with the newest owner. d. remain joint tenants with each other.

Answer 38

d. remain joint tenants with each other

Question 39

An ownership interest that is based on pre-set occupancy periods occurring over five years or more is called a. leasehold interest. b. time-share ownership. c. condominium ownership. d. cooperative membership.

Answer 39

b. time-share ownership ( anything with ownership of five years or over = time-share)

Question 40

One of two owners holds an undivided 60%interest and the other holds an undivided 40%interest. The two owners probably hold their interests as a. cooperative owners. b. joint tenants. c. community property owners. d. tenants in common.

Answer 40

d. tenants in common ( A tenancy in common means that two or more people own an undivided fractional interest in the same piece of property. )

Question 41

A person who owns one unit in a multi-unit structure together with a specified undivided interest in the common elements would own a a. cooperative. b. share in a real estate investment trust. c. condominium. d. time-share interest.

Answer 41

c. condominium (key word: multi-unit structure)

Question 42

The owner of a condominium unit learns that a neighbor has failed to pay his real estate taxes. If the neighbor does NOT pay the taxes a. a lien can be filed against the condominium complex. b. a lien can be filed against the neighbor's unit. c.a lien can be filed only against the common areas of the condominium. d. the taxing authority can order the condominium be dissolved.

Answer 42

b. a lien can be filed against the neighbor's unit

Question 43

All of the following are true statements about a condominium EXCEPT a. a declaration must be filed before any units may be sold. b. each unit owner has a fractional undivided interest in the common elements. c. each owner receives a separate real estate tax statement. d. each owner has a proprietary lease with the owners’ association for the unit.

Answer 43

d. d.each owner has a proprietary lease with the owners’ association for the unit. (think proprietary lease = co-op)

Question 44

In order to create a joint tenancy relationship in the ownership of real estate, there must be unities of a. grantees, ownership, claim of right, and possession. b. title, interest, encumbrance, and survivorship. c. possession, time, interest, and title. d.ownership, possession, heirs, and title.

Answer 44

c. possession, time, interest and title

Question 45

A property held as tenancy by the entirety in North Carolina requires that a. the co-owners must be husband and wife. b. the property in question must be residential property. c. upon the death of a co-tenant, the decedent's interest passes to the heirs. d. in the event of a divorce, the property will escheat.

Answer 45

a. the co-owners must be husband and wife

Question 46

An elderly couple no longer need their large house, so they decide to sell the house and move into a cooperative apartment building. In a cooperative, they will a. become stockholders in a corporation. b. own their individual apartment unit. c. own a portion of the common elements. d. receive a lifetime lease to their apartment.

Answer 46

a. become stockholders in a corporation. (stock = co-operative)

Question 47

Under the condominium form of ownership, the owner's interest in their individual unit would normally be a. a life estate. b. a fee simple estate. c. a reversionary estate. d. a proprietary leasehold.

Answer 47

b. fee simple estate (the owner's own the right to their individual unit and can do as they please)

Question 48

Which of the following is NOT true about condominium ownership? a. It can be mortgaged. b. All the land is owned as part of the common elements. c. The ownership can be left to someone through a valid will. d. The limited common elements can be sold separately.

Answer 48

d. the limited common elements can be sold throughout. (The common elements cannot be sold because they are owned by the condo unit, not the condo tenant.)

Question 49

A buyer purchases a fee simple estate and has an undivided interest in common elements associated with the property that includes all the land. What form of ownership interest does the buyer hold? a. Planned unit development b. Cooperative c. Condominium d. Timeshare

Answer 49

c. condominium (Common elements = condominium)

Question 50

A joint tenant sells her interest to a third party. If the original ownership interests were equal, what is the relationship of the new owner with the remaining original owner? a. They are joint tenants. b. They are tenants in common. c. There is no relationship because a joint tenant cannot sell to a third party. d. The original owner owns a ⅔interest and the buyer owns a ⅓interest.

Answer 50

b. they are tenants in common

Question 51

Condominium owners are responsible for paying a monthly common area maintenance fee. If an owner fails to make this payment, a. that owner is evicted. b. the debt is collected from other owners. c. a lien is filed against that owner’s unit. d. the debt is added to that owner’s mortgage payment.

Answer 51

c. a lien is filed against that owner’s unit

Question 52

All of the following statements about manufactured housing in North Carolina are true EXCEPT a. a manufactured home is constructed per HUD construction standards. b. it has a vehicle identification number while mobile. c. an attached HUD label is required for transfer of title. d. removal of the wheels and axles converts a manufactured home to real property.

Answer 52

d.removal of the wheels and axles converts a manufactured home to real property. ( Their are more stipulations to converting manufactured home to real property).

Question 53

Real property is often referred to as a bundle of legal rights. Which of the following is NOT among these rights? A. right of exclusion B. right to override local zoning C. right of enjoyment D. right to sell or otherwise convey the property

Answer 53

B. right to override local zoning

Question 54

A property is boarded by a small stream. The property ends ___________.

Answer 54

at the center of the stream

Question 55

Oceanfront property ends at the ____________.

Answer 55

mean/average high water mark

Question 56

A property owner has placed a manufactured home on his lakefront lot. In order to make the home a legal part of the real estate, he must do all of the following EXCEPT what? A. remove the trailer hitch, wheels, and axles B. attach the home to a permanent foundation C. remove the HUD label from the exterior of the home D. cancel the motor vehicle title within an affidavit

Answer 56

C. remove the HUD label from the exterior of the home

Question 57

Which of the following would typically be considered a fixture? A. a portable basketball goal on the parking pad B. a custom-made mailbox attached to the house C. curtains in the master bedroom that match the wallpaper D. a porch swing that is hanging from hooks on the front porch

Answer 57

B. a custom-made mailbox attached to the house

Question 58

``` Which of the following would NOT be considered in determining if an item is a fixture? A. intent B. adaptability C. value D. method of attachment ```

Answer 58

c. value ( Remember IRMA)

Question 59

Which of the following items would normally convey as a fixture with the property? A. refrigerator and countertop microwave B. freestanding butcher block table in the kitchen C. decorative lights draped around the enclosed patio D. The large mirror bolted over the fireplace mantle

Answer 59

D. The large mirror bolted over the fireplace mantle

Question 60

A seller spent $5,000 to have custom-made awnings installed over her backyard patio. according to the NCBA/NCAR 2-T offer to purchase and contract, what is the status of the awnings?

Answer 60

The awnings are considered real property and must stay

Question 61

A purchaser of real estate learns that her ownership rights will continue forever and that no other person has any ownership control over the property. This person owns a what?

Answer 61

fee simple interest

Question 62

A fee simple estate has all the following characteristics EXCEPT that it is ___________. A. of indefinite duration B. free of encumbrances C. transferable by deed or by will D. transferable with or without valuable consideration

Answer 62

b. free of encumbrance

Question 63

A freehold estate and land that will automatically extinguish upon the cessation of a specified condition is called a what?

Answer 63

fee simple determinable

Question 64

A property owner wanted to donate to the hospital a vacant lot she owned adjacent to a hospital for expansion purposes. She wanted to make sure the land was used as she intended, so her attorney prepared the deed to convey ownership of the lot to the hospital quotation so long as it is used for hospital purposes ". Upon receipt of the gift, the hospital owned a what?

Answer 64

fee defeasible estate

Question 65

A property owner has a freehold estate in a single-family home. he rents the home to a young couple. Which of the following statements is TRUE? A. the man no longer has a freehold estate because a free oldest state in a leasehold estate cannot exist in the same property B. The man must give up his freehold estate in order to rent the property to others C. The tenants now hold the free oldest state in the property D. The man has a freehold estate in the property, and the tenants have a leasehold to stay in the property

Answer 65

D. The man has a freehold estate in the property, and the tenants have a leasehold to stay in the property

Question 66

An example of a condominium limited common element would be what? a. a storage locker b. a complex's swimming pool c. condo's tennis courts d. a clubhouse

Answer 66

a. storage locker (common elements are owned by condo unit owners as tenants in common)

Question 67

If property is held by two or more owners as tenants in common, the interest of a decreased co-owner will pay to the a. remaining owner or owners b. heirs of the deceased owner c. trust under which the property was owned d. state by the law of escheat, regardless if the deceased has any heirs

Answer 67

b. heirs of the deceased owner

Question 68

William, Frank, Jane our tenants in common. Jane sells her interest to Lloyd, and then Frank dies. as a result what happens? a. Frank's heirs, Lloyd and William are joint tenants b. Frank's heirs and William are joint tenants. c. William and Lloyd are tenants in common and are the only remaining owners if the property. d. William, Lloyd, and Frank heirs are tenants in common.

Answer 68

d. William, Lloyd, and Frank heirs are tenants in common.

Question 69

Concerning comments ownership, which of the following statements are true? I. Tenancy in common is not available to a married couple holding little on a property. II. Joint tenants may hold title to the property with equal, undivided interests. a. I only b. II only c. Both I and II d. Neither I nor II

Answer 69

b. II only

Question 70

A buyer and a seller/developer executed a purchase contract for a new condominium on May 6th with the buyer giving $5,000 in earnest money. The buyer changed her mind and notified the seller on May 11th that she was rescinding the contract the contract. Which of the following is TRUE? A. The buyer can legally cancel the contract and have all the earnest money refunded B. The buyer cannot cancel the contract because the 3-day right of recession has passed C. The buyer can cancel only if she forfeits the earnest money D. The buyer cannot cancel the contract because there is no right of recession

Answer 70

A. The buyer can legally cancel the contract and have all the earnest money refunded

Question 71

Which of the following statements is /are TRUE? I. A condominium owner individually owns only the "airspace"in the unit and no land. II. A townhouse owner individually owns the ground under the unit. A. I only B. II only C. Both I and II D. Neither I or II

Answer 71

C. Both I and II

Question 72

According to the North Carolina timeshare act, a certificate of registration for each timeshare project must what? I. Be obtained from the North Carolina real Estate Commission II. Be renewed every June. A. I only B. II only C. Both I and II D. Neither I or II

Answer 72

C. Both I and II

Question 73

According to the North Carolina timeshare act, all the following are true EXCEPT? A. a timeshare salesperson must have an active real estate broker's license B. a timeshare salesperson must provide a public offering statement about the timeshare project to a potential buyer prior to showing or sharing project information C. a timeshare purchaser must be given a 5-day cancellation right after contract formation D. a timeshare purchaser that properly exercises the recession rights under the Act will receive a refund of all monies pay to the developer or his agent

Answer 73

B. a timeshare salesperson must provide a public offering statement about the timeshare project to a potential buyer prior to showing or sharing project information

Question 74

Each timeshare developer must deposit all money received from a purchaser in what?

Answer 74

an escrow account for 10 days

Question 75

A prospective client wishes to list his property with a broker in states that the property is held in a trust. Which party should the real estate broker contact in order to proceed with listing and marketing the property?

Answer 75

the trustee

Question 76

One advantage of a trust is __________. a. the assets of the trust may be able to pass outside of probate b. the beneficiaries of the trust are public c. the trustee of a trust is always beneficiary d. it cannot hold real estate as an asset

Answer 76

a. the assets of the trust may be able to pass outside of probate