Question 1

A tenancy by the entirety:

Accepted Answer

A) can only be created between husband and wife. 
B) can only be terminated by the joint action of the husband and wife. 
C) can only be seized by creditors if the debt was owed by both husband and wife. 
D) All of the above. 
E) None of the above. 
A) can only be created between husband and wife. 
B) can only be terminated by the joint action of the husband and wife. 
C) can only be seized by creditors if the debt was owed by both husband and wife. 
D) All of the above. 
E) None of the above. D

Question 2

The following is (are)considered a freehold estate(s):

Accepted Answer

A) fee simple absolute. 
B) fee simple defeasible. 
C) life estate. 
D) all the above. 
E) none of the above. 
A) fee simple absolute. 
B) fee simple defeasible. 
C) life estate. 
D) all the above. 
E) none of the above. D

Question 3

Which of the following is not a future estate?

Accepted Answer

A) reversion. 
B) remainder. 
C) right of entry. 
D) defeasible fee. 
E) executory interest. 
A) reversion. 
B) remainder. 
C) right of entry. 
D) defeasible fee. 
E) executory interest. D

Question 4

A fee simple absolute:

Accepted Answer

A) can be inherited. 
B) is subject to government regulations. 
C) provides ownership of the earth below and the sky above the boundaries of the owner's land. 
D) all of the above. 
E) none of the above. 
A) can be inherited. 
B) is subject to government regulations. 
C) provides ownership of the earth below and the sky above the boundaries of the owner's land. 
D) all of the above. 
E) none of the above.

Question 5

Florian owns a life estate in Blackacre and Walter owns a remainder interest.

Accepted Answer

A) Walter must pay the annual taxes and Florian the interest on any debts on Blackacre. 
B) if the county charges Blackacre a curb and sidewalk assessment, only Walter would have to pay it. 
C) Florian, since he presently occupies Blackacre, must by law pay the insurance on any buildings. 
D) Florian would have to pay for ordinary repairs, such as painting or window replacements and Walter would have to pay for extraordinary repairs such as replacing a furnace. 
A) Walter must pay the annual taxes and Florian the interest on any debts on Blackacre. 
B) if the county charges Blackacre a curb and sidewalk assessment, only Walter would have to pay it. 
C) Florian, since he presently occupies Blackacre, must by law pay the insurance on any buildings. 
D) Florian would have to pay for ordinary repairs, such as painting or window replacements and Walter would have to pay for extraordinary repairs such as replacing a furnace.

Question 6

A and B are joint tenants.A conveys his interest to C.B and C are now tenants in common.

Accepted Answer

A) True 
 B)False

Question 7

Sonny and Cher have been married for forty years and live in Nevada, a community property state.Before their marriage, Sonny's only property was a winery in Pahrump, Nevada, worth 1 million dollars while Cher had 5 million dollars worth of property, including a ranch in northern Nevada.During their marriage Sonny and Cher accumulated an additional 6 million dollars worth of property, including 3 million dollars worth of property Sonny inherited from his uncle.The total amount of community property held by Sonny and Cher is:

Accepted Answer

A) $6 million. 
B) $3 million. 
C) $7 million. 
D) $12 million. 
E) $11 million. 
A) $6 million. 
B) $3 million. 
C) $7 million. 
D) $12 million. 
E) $11 million.

Question 8

Estates generally fall into two categories: fee estates and freehold estates.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following forms of ownership is the least desirable for person seeking to protect her personal assets?

Accepted Answer

A) General partnership. 
B) Limited partnership. 
C) Limited liability company. 
D) Corporation. 
E) Real Estate Investment Trust. 
A) General partnership. 
B) Limited partnership. 
C) Limited liability company. 
D) Corporation. 
E) Real Estate Investment Trust.

Question 10

A joint tenancy requires all of the following "unities" except the unity of:

Accepted Answer

A) severance. 
B) time. 
C) interest. 
D) possession. 
E) title. 
A) severance. 
B) time. 
C) interest. 
D) possession. 
E) title.

Question 11

Amy conveyed a deed to Carrie that created the following estates: "To Carrie provided that if the property is used for any uses other than recreation, grantor shall have the right to reenter the property and cause the grantee to forfeit the estate." Amy owns a ________ and Carrie owns a __________.

Accepted Answer

A) possibility of reverter/fee simple subject to a condition subsequent. 
B) right of entry/fee simple determinable. 
C) reversion/fee tail. 
D) remainder/fee simple absolute. 
E) right of entry/fee simple subject to a condition subsequent. 
A) possibility of reverter/fee simple subject to a condition subsequent. 
B) right of entry/fee simple determinable. 
C) reversion/fee tail. 
D) remainder/fee simple absolute. 
E) right of entry/fee simple subject to a condition subsequent.

Question 12

The most important characteristic of the joint tenancy is the right of survivorship.

Accepted Answer

A) True 
 B)False

Question 13

The key factor necessary to establish a partnership is the existence of a functioning business

Accepted Answer

A) True 
 B)False

Question 14

Property classified as community property may not be partitioned.

Accepted Answer

A) True 
 B)False

Question 15

In a trust arrangement, the beneficiary owns equitable title to the trust property.

Accepted Answer

A) True 
 B)False

Question 16

A owns a fee simple absolute estate.A later grants a life estate to B and when B dies to C.A now owns a reversionary interest.

Accepted Answer

A) True 
 B)False

Question 17

A tenancy in common, like a joint tenancy or tenancy by the entirety, can be created only by will or deed.

Accepted Answer

A) True 
 B)False

Question 18

A buyer of real property who wishes to receive the best interest possible would prefer a fee simple absolute over a fee simple defeasible.

Accepted Answer

A) True 
 B)False

Question 19

The fee simple defeasible corresponds to what the average person thinks of today as ownership of real property.

Accepted Answer

A) True 
 B)False

A tenancy by the entirety:

The following is (are)considered a freehold estate(s):

Which of the following is not a future estate?

A fee simple absolute:

Florian owns a life estate in Blackacre and Walter owns a remainder interest.

A and B are joint tenants.A conveys his interest to C.B and C are now tenants in common.

Estates generally fall into two categories: fee estates and freehold estates.

Which of the following forms of ownership is the least desirable for person seeking to protect her personal assets?

A joint tenancy requires all of the following "unities" except the unity of:

Amy conveyed a deed to Carrie that created the following estates: "To Carrie provided that if the property is used for any uses other than recreation, grantor shall have the right to reenter the property and cause the grantee to forfeit the estate." Amy owns a and Carrie owns a __.

The most important characteristic of the joint tenancy is the right of survivorship.

The key factor necessary to establish a partnership is the existence of a functioning business

Property classified as community property may not be partitioned.

In a trust arrangement, the beneficiary owns equitable title to the trust property.

A owns a fee simple absolute estate.A later grants a life estate to B and when B dies to C.A now owns a reversionary interest.

A tenancy in common, like a joint tenancy or tenancy by the entirety, can be created only by will or deed.

A buyer of real property who wishes to receive the best interest possible would prefer a fee simple absolute over a fee simple defeasible.

The fee simple defeasible corresponds to what the average person thinks of today as ownership of real property.

The Nature of Property

The Scope of Real Property

Rights in Land of Others

The Search for Real Estate

The Real Estate Contract

Title and Insurance

Financing the Real Estate Purchase

Closings and Taxation: Other Methods of Acquisition

Landlord and Tenant

Rights and Duties of Landowners and Occupants

Legal Planning and Regulation of Land Use

Environmental Law and Regulation

Filters

Exam 5: Types of Ownership

A tenancy by the entirety:

The following is (are)considered a freehold estate(s):

Which of the following is not a future estate?

A fee simple absolute:

Florian owns a life estate in Blackacre and Walter owns a remainder interest.

A and B are joint tenants.A conveys his interest to C.B and C are now tenants in common.

Estates generally fall into two categories: fee estates and freehold estates.

Which of the following forms of ownership is the least desirable for person seeking to protect her personal assets?

A joint tenancy requires all of the following "unities" except the unity of:

Amy conveyed a deed to Carrie that created the following estates: "To Carrie provided that if the property is used for any uses other than recreation, grantor shall have the right to reenter the property and cause the grantee to forfeit the estate." Amy owns a ________ and Carrie owns a __________.

The most important characteristic of the joint tenancy is the right of survivorship.

The key factor necessary to establish a partnership is the existence of a functioning business

Property classified as community property may not be partitioned.

In a trust arrangement, the beneficiary owns equitable title to the trust property.

A owns a fee simple absolute estate.A later grants a life estate to B and when B dies to C.A now owns a reversionary interest.

A tenancy in common, like a joint tenancy or tenancy by the entirety, can be created only by will or deed.

A buyer of real property who wishes to receive the best interest possible would prefer a fee simple absolute over a fee simple defeasible.

The fee simple defeasible corresponds to what the average person thinks of today as ownership of real property.

The Nature of Property

The Scope of Real Property

Rights in Land of Others

The Search for Real Estate

The Real Estate Contract

Title and Insurance

Financing the Real Estate Purchase

Closings and Taxation: Other Methods of Acquisition

Landlord and Tenant

Rights and Duties of Landowners and Occupants

Legal Planning and Regulation of Land Use

Environmental Law and Regulation

Filters

Amy conveyed a deed to Carrie that created the following estates: "To Carrie provided that if the property is used for any uses other than recreation, grantor shall have the right to reenter the property and cause the grantee to forfeit the estate." Amy owns a and Carrie owns a __.