Exam 48: Real Property

A(n)________ grants the owner all the incidents of a fee simple absolute except that ownership may be taken away if a specified condition occurs or does not occur.

Which of the following is a form of co-ownership that disallows the right of survivorship and allows unilateral transfer of interest?

________ is a form of co-ownership that includes the right of survivorship as well the right of tenants to unilaterally transfer their interest without the consent of co-tenants.

________ is a title to real property that is free from any encumbrances or other defects that are not disclosed but would affect the value of the property.

A life estate that is measured by the life of a third party is referred to as ________.

If they filed for divorce in a state that recognizes community property, what would be the separate property owned by Jonas at the end of their marriage?

In the context of a tax sale, many states provide a period of ________ after a tax sale during which the taxpayer can reclaim the property by paying the unpaid taxes and penalties.

A ticket to a movie theater or sporting event is an example of a license.

A deed in which the grantor of real property transfers whatever interest he has in the property to the grantee is known as a ________.

Which of the following is true of a tenancy by the entirety?

Karen, Kelsey, Rita, and Lizzi own a large commercial building as concurrent owners.They are tenants with the right to survivorship.Lizzi transfers her one-quarter interest in the building to a private charity organization owned by Stella.Under which of the following forms of concurrent ownership would Karen, Kelsey, and Rita become the owners of the property following Lizzi's death without the inclusion of the private charity organization run by Stella?

Give an account of zoning.What are nonconforming uses?

What is a life estate?

Carmen, Westbrook, and Ashton are concurrent owners of a large commercial building.Ashton executes a will that leaves all his property to his son in the event of his death.But after Ashton passes away, his ownership interest in the building was acquired by the two remaining tenants of the building.Which of the following kinds of concurrent ownership would allow such a passage of title?

What is an easement and how is it created?

What is a servient estate?

A ________ is an exception that permits a type of building or use in an area that would not otherwise be allowed by a zoning ordinance.

A given or required right to make limited use of someone else's land without owning or leasing it is called a(n)________.

Explain the role of recording statutes in real property contracts.

After the death of Horace, the other two joint tenants of the luxury dining restaurant "Rendezvous" became the owners of Horace's interest in the property automatically.This feature of their concurrent ownership is called ________.