Question 1

Which of the following is true of a life tenant?

Accepted Answer

A) A life tenant has the right to sell the life estate at will. 
B) A person who gives a life estate to another is called a life tenant. 
C) A life tenant can possess the life estate to the point of rendering it worthless by permanent damage. 
D) A life tenant is treated as the owner of the property for the duration of the life estate. 
A) A life tenant has the right to sell the life estate at will. 
B) A person who gives a life estate to another is called a life tenant. 
C) A life tenant can possess the life estate to the point of rendering it worthless by permanent damage. 
D) A life tenant is treated as the owner of the property for the duration of the life estate.

Question 2

A fee simple owner has the right to exclusively possess and use his property to the extent that the owner has not transferred any interest in the property.

Accepted Answer

A) True 
 B)False

Question 3

Buildings constructed on land are considered personal property.

Accepted Answer

A) True 
 B)False

Question 4

Karen, Kelsey, Rita, and Lizzi own a large commercial building as concurrent owners.They are tenants with the right to survivorship.Lizzi sells her one-quarter interest in the building to Stella.What kind of concurrent ownership exists between Karen, Kelsey, Rita, and Stella?

Accepted Answer

A) a tenancy in common 
B) a tenancy by entirety 
C) a joint tenancy 
D) a community property 
A) a tenancy in common 
B) a tenancy by entirety 
C) a joint tenancy 
D) a community property

Question 5

A new owner of a servient estate cannot inherit the appurtenant easement.

Accepted Answer

A) True 
 B)False

Question 6

A life tenant is treated as the owner of the property even after the duration of the life estate.

Accepted Answer

A) True 
 B)False

Question 7

Plant life and vegetation growing on the surface of land are considered personal property.

Accepted Answer

A) True 
 B)False

Question 8

The Statute of Frauds requires the real estate sales contracts to be in writing.

Accepted Answer

A) True 
 B)False

Question 9

The difference between a qualified fee ownership and a fee simple ownership is that a qualified fee ownership can be ________.

Accepted Answer

A) transferred at will by the owner of the property 
B) terminated if a specified event occurs or fails to occur 
C) infinite in its duration 
D) inherited without limitations 
A) transferred at will by the owner of the property 
B) terminated if a specified event occurs or fails to occur 
C) infinite in its duration 
D) inherited without limitations

Question 10

Give an account of concurrent ownerships in multiple-dwelling building.

Accepted Answer

Condominiums and cooperatives are two ty

Question 11

The attorney cannot be sued for any losses caused by his or her negligence in rendering an attorney's opinion.

Accepted Answer

A) True 
 B)False

Question 12

A(n)________ is a situation in which a person holds an interest in another person's property without actually owning any part of the property.

Accepted Answer

A) present possessory interest 
B) future interest 
C) reversion 
D) nonpossessory interest 
A) present possessory interest 
B) future interest 
C) reversion 
D) nonpossessory interest

Question 13

A terminated life estate property reverts to the grantor or the grantor's estate or other designated person.

Accepted Answer

A) True 
 B)False

Question 14

A(n)________ is an instrument that describes a person's ownership interest in a piece of real property.

Accepted Answer

A) title insurance 
B) deed 
C) license 
D) easement 
A) title insurance 
B) deed 
C) license 
D) easement

Question 15

A surviving spouse in a tenancy by the entirety has the right of survivorship.

Accepted Answer

A) True 
 B)False

Question 16

What are fixtures?

Accepted Answer

A) goods closely associated with a piece of real property 
B) intangible properties created inside the premises of a real property 
C) parts of a real property that are easily transferrable without substantial damage to the property 
D) goods that cannot be classified as personal property or real property 
A) goods closely associated with a piece of real property 
B) intangible properties created inside the premises of a real property 
C) parts of a real property that are easily transferrable without substantial damage to the property 
D) goods that cannot be classified as personal property or real property

Question 17

The legal rights that the owner has to possess, use, and enjoy the property are known as ________.

Accepted Answer

A) future interests 
B) estate in land 
C) easement rights 
D) estoppel by deed 
A) future interests 
B) estate in land 
C) easement rights 
D) estoppel by deed

Question 18

If an owner of real property fails to pay property taxes, the government can obtain a lien on the property for the amount of the taxes.

Accepted Answer

A) True 
 B)False

Question 19

The person who is given a life estate is called the life tenant.

Accepted Answer

A) True 
 B)False

Question 20

The right of possession of remainder is an example of future interest.

Accepted Answer

A) True 
 B)False

Exam 48: Real Property

Which of the following is true of a life tenant?

A fee simple owner has the right to exclusively possess and use his property to the extent that the owner has not transferred any interest in the property.

Buildings constructed on land are considered personal property.

Karen, Kelsey, Rita, and Lizzi own a large commercial building as concurrent owners.They are tenants with the right to survivorship.Lizzi sells her one-quarter interest in the building to Stella.What kind of concurrent ownership exists between Karen, Kelsey, Rita, and Stella?

A new owner of a servient estate cannot inherit the appurtenant easement.

A life tenant is treated as the owner of the property even after the duration of the life estate.

Plant life and vegetation growing on the surface of land are considered personal property.

The Statute of Frauds requires the real estate sales contracts to be in writing.

The difference between a qualified fee ownership and a fee simple ownership is that a qualified fee ownership can be ________.

Give an account of concurrent ownerships in multiple-dwelling building.

The attorney cannot be sued for any losses caused by his or her negligence in rendering an attorney's opinion.

A(n)________ is a situation in which a person holds an interest in another person's property without actually owning any part of the property.

A terminated life estate property reverts to the grantor or the grantor's estate or other designated person.

A(n)________ is an instrument that describes a person's ownership interest in a piece of real property.

A surviving spouse in a tenancy by the entirety has the right of survivorship.

What are fixtures?

The legal rights that the owner has to possess, use, and enjoy the property are known as ________.

If an owner of real property fails to pay property taxes, the government can obtain a lien on the property for the amount of the taxes.

The person who is given a life estate is called the life tenant.

The right of possession of remainder is an example of future interest.

Legal Heritage and the Digital Age

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Genuineness of Assent and Undue Influence

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Third-Party Rights and Discharge

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E-Commerce and Digital Law

Formation of Sales and Lease Contracts

Title to Goods and Risk of Loss

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Holder in Due Course and Transferability

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