Estate And Tenancies

Question 0

An owners interest in the condominiums common grounds is best described as

Answer 0

An undivided interest

Question 1

Where do condominium owners rights and limitations come from regarding the property usage

Answer 1

Declarations and bylaws

Question 2

An interest in real estate which does not result in actual ownership but a stock interest is called

Answer 2

A securities interest

Question 3

The highest form of an estate would be

Answer 3

Fee simple

Question 4

Which type of tenancy would allow survivorship

Answer 4

Joint tenancy

Question 5

When a property is held in joint tenancy and one of the parties dies testate, the following is true?

Answer 5

Property goes to the joint tenant survivor

Question 6

J and R own property and R dies. Rs children try to obtain the title from J, but can’t. what type of title did J and R hold?

Answer 6

Joint tenancy

Question 7

How would two buyers take title if they were not related

Answer 7

Tenancy in common

Question 8

Husband and wife own property as tenants in common. if one dies the property would pass to the

Answer 8

Estate of the deceased

Question 9

When the business is owned by one person the way title would be taken would be

Answer 9

In severalty (Single)

Question 10

What is the name of the third-party that will receive a life interest in a property upon the death of the life tenant?

Answer 10

Remainderman

Question 11

How can a corporation hold title

Answer 11

Tenant in common

Question 12

An owner of lakefront property has 50 acres and divides it into lots. The owner keeps the lots closest to the lake. What type of easement to the lake would be preferred by lot buyers?

Answer 12

Easement appurtenant

Question 13

Two sisters want to buy a property and leave it to their heirs. To accomplish this, they take title

Answer 13

As tenants in common

Question 14

The following is an example of a freehold estate

Answer 14

Fee simple estate

Question 15

The right of ingress and egress is best associated with the word

Answer 15

Appurtenant

Question 16

A remainderman receives the property after

Answer 16

A life estate

Question 17

An easement given to a person would most likely be

Answer 17

In gross

Question 18

A survivorship interest is created in the following

Answer 18

Tenancy by entirety
Joint tenancy
Community property

Question 19

An estate at will would

Answer 19

Be for an indefinite duration

Question 20

Prior to receiving the property a remainderman would most likely be concerned with

Answer 20

Property waste

Question 21

Alan gives a life estate to Barbara for the life of Callaway. Barbara dies. who has the estate?

Answer 21

Barbara heirs

Question 22

If a party is granted a property upon the condition that certain use continue in the future this would be called

Answer 22

Defeasible fee

Question 23

Which of the following would not be considered a fee simple absolute interest?

Answer 23

Lessee with a long-term lease

Question 24

When a sole owner of property dies with no will, the property would transfer

Answer 24

By intestate succession

Question 25

Ace, Bailey and Constantine on property as tenants-in-common. Ace wants to take legal action to divide the property this action is called

Answer 25

Partition action

Question 26

An irrevocable personal right to use a property would be called

Answer 26

An easement in gross

Question 27

What is the difference between fee simple and non-Freehold

Answer 27

Fee simple is freely inheritable, while non freehold is a lease

Question 28

Matt and Tom form a corporation to purchase a parcel of real estate. how would title to the parcel be held?

Answer 28

In severalty

Question 29

If a utility company wanted easement on a parcel of land, but the landowner did not want his property encumbered, What Would the owner give the utility?

Answer 29

A license

Question 30

Alicia gives an estate to Benjamin for the life of Charles. This type of estate called

Answer 30

Our autre vie

Question 31

When a future interest is finally returned to the grantor, this is called

Answer 31

Reversion

Question 32

Contreras holds a life estate for his life and also purchases the interest of the vested remainderman. What interest would he hold?

Answer 32

Fee simple estate

Question 33

Jay was given the right to use will's land but Will could revoke the right at any time this is an example of

Answer 33

A license

Question 34

What type of the estate would a tenant have?

Answer 34

Leasehold

Question 35

How would the title for the common area of a condo be held?

Answer 35

Tenancy in common

Question 36

Anna sells a commercial apartment building to Bob the present leases

Answer 36

Remain valid

Question 37

Alex, Bob and Charles own property as joint tenants. Charles dies and then Bob Sells his interest in the property to Donovan. The property is now owned by

Answer 37

Alex and Donovan as tenants in common each with half interest.

Question 38

Alex, Bob and Charles hold unequal interest in a piece of land, they own it

Answer 38

Tenancy in common

Question 39

A right of way over parcel A to parcel B identifies parcel B as the

Answer 39

Dominant estate

Question 40

The best explanation for an easement would be

Answer 40

The right to use another's property

Question 41

In order to acquire an easement by prescription, you need

Answer 41

Open, Hostile, and continuous use

Question 42

A dominant tenant is identified as the

Answer 42

Parcel that uses the easement

Question 43

A son wants to give his mother the right to use his property. The son wants the property back when his mother dies. What kind of estate must he create?

Answer 43

Reversionary estate

Question 44

The following word would most likely appear in descriptions of both a leasehold estate and the life estate

Answer 44

Reversion

Question 45

When a grantor gives a future interest to a named grantee, it is called

Answer 45

Vested remainder

Question 46

Of the unities required for joint tenancy, which one is necessary for tenancy in common?

Answer 46

Unity of possession

Question 47

If you own land and have right to impose restrictions regarding all future conveyances of that land, you ownership is:

Answer 47

Fee simple

Question 48

An easement in gross is considered

Answer 48

A personal right

Question 49

All of the following are freehold estates

Answer 49

- fee simple - life estate - fee determinable

Question 50

The degree, quantity, quality, or interest one has in real estate is called

Answer 50

An estate

Question 51

A fee simple determinable estate is created on a property for use as a specific school. When the school closes, which of the following is true?

Answer 51

Title reverts back to the original grantor

Question 52

A summer camp uses a property as a weekend retreat. The owner does not create an encumbrance, but instead gives the camp a

Answer 52

License

Question 53

When the owner of the dominant tenement becomes the owner of the servient, the easement is Terminated through

Answer 53

Purchase and sale