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Flashcards in N12 Taking Title Deck (41)
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1

The three ways in which property ownership is transferred are:
a. __________
b. __________
c. __________

a. Inheritance
b. Involuntary Alienation
c. Voluntary Alienation

2

Probate

The court that oversees the distribution of a deceased person’s property.

3

When a person dies with a will, he/she is said to have died _____.

Testate

4

When a person dies without a will, he/she is said to have died ______.

Intestate

5

The person named in a will to carry out the decedent’s wishes.

Executor

6

A person appointed by the court to oversee the distribution of a deceased person’s estate is an ___.

Administrator (Clue: APPOINTED BY COURT)

7

Holographic Will

A will that is completely handwritten.

8

Nuncupative Will

An oral will.

9

A gift of real property through a will.

Devise
(Clue: Not to be confused with Demise which is another name for a lease.)

10

Title by Descent

When an heir inherits real property from a person who died intestate.

11

A gift of personal property through a will.

Bequest aka Legacy

12

Involuntary Alienation

Forced Transfer of property.

13

Three ways in which a property may be transferred involuntarily are:
a. _____________
b. _____________
c. _____________

a. Eminent Domain
b. Foreclosure
c. Adverse Possession

14

An uncoerced transfer of real estate.

Voluntary Alienation

15

Ownership of property by one person.

Severalty Ownership or Sole and Separate Ownership

16

When a person who owned property in severalty dies, that person’s estate is distributed through _____.

Probate

17

Shared ownership by two or more persons who have created the right of survivorship is ______ aka _______.

Joint Tenancy, Joint Tenancy with Rights of Survivorship (JTWRS)

18

Creating the automatic right of survivorship in a property ownership means that upon the death of one person, that person’s interest goes to _______ without _______.

Surviving Tenants, Probate

19

The four unities of joint tenancy can be abbreviated TTIP which stands for:
a. _____________
b. _____________
c. _____________
d. _____________

a. Time
b. Title
c. Interest
d. Possession

TTIP

20

Corporations, LLCs and other legal entities cannot take title as JTWRS because they _______.

Do not die

21

A joint tenant ___ convey his/her interest without the permission of the other joint tenants.

MAY

22

If two people own as joint tenants and one transfers his/her interest to another party, the joint tenancy is _________, and the third party is a ____________ with the other owner.

Broken, Tenant in Common

23

In Arizona, real property acquired by a married couple is considered to be ____________.

Community Property

24

In order to sell community real property, __________ must sign the deed.

Both Spouses

25

If property was held as community property, at the death of one spouse his/her interest passes to _______________.

The Deceased Spouse’s Heirs

26

The type of community property ownership that allows a deceased spouses interest to pass automatically to the surviving spouse without probate is _________________________.

Community Property with Rights of Survivorship (CPWRS)

27

Ownership of property by two or more legal or natural persons, which does not have the right of survivorship is ___________.

Tenancy in Common

28

Although the four unities required for joint tenancy may be present, the only unity of ownership required for tenancy in common is ___________.

Possession

29

Advising buyers on how they should take title to property could be considered to be the___________________.

Illegal Practice of Law

30

A court action brought to terminate a tenancy in common or joint tenancy is known as ____________.

Suit for Partition