Question 1

Which of the following is not one of the unities required for a joint tenancy with right of survivorship?

Accepted Answer

A)  interest 
B)  possession 
C)  contribution 
D)  time 
A)  interest 
B)  possession 
C)  contribution 
D)  time C

Question 2

Which of the following entities does not provide limited liability to the members of the entity?

Accepted Answer

A)  limited partnership 
B)  limited liability company 
C)  general partnership 
D)  corporation 
A)  limited partnership 
B)  limited liability company 
C)  general partnership 
D)  corporation C

Question 3

A majority of the states recognize community property.

Accepted Answer

A) True 
 B)False  False

Question 4

Partition may be by voluntary agreement or by court action.

Accepted Answer

A) True 
 B)False

Question 5

The voluntary division of common property by the owners into separate ownerships is called:

Accepted Answer

A)  contribution 
B)  survivorship 
C)  partition 
D)  common division 
A)  contribution 
B)  survivorship 
C)  partition 
D)  common division

Question 6

Members of a limited liability company are not personally responsible for the debts or obligations of the limited liability company.

Accepted Answer

A) True 
 B)False

Question 7

An owner of a tenancy in common cannot sell his or her interest in the property without the other common owner's consent.

Accepted Answer

A) True 
 B)False

Question 8

Each owner under a joint tenancy with right of survivorship owns an equal undivided interest in the property.

Accepted Answer

A) True 
 B)False

Question 9

It is possible in a tenancy in common that the owners may hold unequal shares in the property.

Accepted Answer

A) True 
 B)False

Question 10

A general partnership must always have a formal written partnership agreement.

Accepted Answer

A) True 
 B)False

Question 11

The division of common property into separate ownerships is called partition.

Accepted Answer

A) True 
 B)False

Question 12

Partition must always be done by court action.

Accepted Answer

A) True 
 B)False

Question 13

Aaron, Bob, and Carl own property as joint tenants with right of survivorship. During the lifetime of all of them, Aaron sells his interest in the property to Donna. Bob then dies and wills all of his property to Frank. Who are the owners of the property?

Accepted Answer

A)  Donna, Frank, and Carl 
B)  Aaron, Frank, and Carl 
C)  Donna and Carl 
D)  Carl 
E)  none of the above 
A)  Donna, Frank, and Carl 
B)  Aaron, Frank, and Carl 
C)  Donna and Carl 
D)  Carl 
E)  none of the above

Question 14

Community property is found in only a few states.

Accepted Answer

A) True 
 B)False

Question 15

A spouse's interest in a tenancy by the entirety cannot be willed but it can be inherited.

Accepted Answer

A) True 
 B)False

Question 16

Tenancy in common can be created by deed or will.

Accepted Answer

A) True 
 B)False

Question 17

Aaron, Bob, and Carl, as joint tenants with right of survivorship, own 15 acres of land. A purchaser wishes to purchase 5 acres of land. The purchaser will need a deed from:

Accepted Answer

A)  Aaron 
B)  Bob and Carl 
C)  Aaron, Bob, and Carl 
D)  Aaron and Bob 
A)  Aaron 
B)  Bob and Carl 
C)  Aaron, Bob, and Carl 
D)  Aaron and Bob

Question 18

A common owner is entitled to his or her fractional share of any rent or income produced from the real property.

Accepted Answer

A) True 
 B)False

Question 19

It is not required that tenants by the entirety be married to each other.

Accepted Answer

A) True 
 B)False

Question 20

A managing member of a limited liability company has personal liability for the debts and obligations of the limited liability company.

Accepted Answer

A) True 
 B)False

Which of the following is not one of the unities required for a joint tenancy with right of survivorship?

Which of the following entities does not provide limited liability to the members of the entity?

A majority of the states recognize community property.

Partition may be by voluntary agreement or by court action.

The voluntary division of common property by the owners into separate ownerships is called:

Members of a limited liability company are not personally responsible for the debts or obligations of the limited liability company.

An owner of a tenancy in common cannot sell his or her interest in the property without the other common owner's consent.

Each owner under a joint tenancy with right of survivorship owns an equal undivided interest in the property.

It is possible in a tenancy in common that the owners may hold unequal shares in the property.

A general partnership must always have a formal written partnership agreement.

The division of common property into separate ownerships is called partition.

Partition must always be done by court action.

Aaron, Bob, and Carl own property as joint tenants with right of survivorship. During the lifetime of all of them, Aaron sells his interest in the property to Donna. Bob then dies and wills all of his property to Frank. Who are the owners of the property?

Community property is found in only a few states.

A spouse's interest in a tenancy by the entirety cannot be willed but it can be inherited.

Tenancy in common can be created by deed or will.

Aaron, Bob, and Carl, as joint tenants with right of survivorship, own 15 acres of land. A purchaser wishes to purchase 5 acres of land. The purchaser will need a deed from:

A common owner is entitled to his or her fractional share of any rent or income produced from the real property.

It is not required that tenants by the entirety be married to each other.

A managing member of a limited liability company has personal liability for the debts and obligations of the limited liability company.

Introduction to the Law of Real Property

Surveys and Land Descriptions 1

Encumbrances Easements and Licenses

Contracts

Deeds

Legal Aspects of Real Estate Finance

Title Examinations

Title Insurance

Real Estate Closings

Condominiums and Cooperatives

Leases

Filters

Exam 2: Concurrent Ownership

Which of the following is not one of the unities required for a joint tenancy with right of survivorship?

Which of the following entities does not provide limited liability to the members of the entity?

A majority of the states recognize community property.

Partition may be by voluntary agreement or by court action.

The voluntary division of common property by the owners into separate ownerships is called:

Members of a limited liability company are not personally responsible for the debts or obligations of the limited liability company.

An owner of a tenancy in common cannot sell his or her interest in the property without the other common owner's consent.

Each owner under a joint tenancy with right of survivorship owns an equal undivided interest in the property.

It is possible in a tenancy in common that the owners may hold unequal shares in the property.

A general partnership must always have a formal written partnership agreement.

The division of common property into separate ownerships is called partition.

Partition must always be done by court action.

Aaron, Bob, and Carl own property as joint tenants with right of survivorship. During the lifetime of all of them, Aaron sells his interest in the property to Donna. Bob then dies and wills all of his property to Frank. Who are the owners of the property?

Community property is found in only a few states.

A spouse's interest in a tenancy by the entirety cannot be willed but it can be inherited.

Tenancy in common can be created by deed or will.

Aaron, Bob, and Carl, as joint tenants with right of survivorship, own 15 acres of land. A purchaser wishes to purchase 5 acres of land. The purchaser will need a deed from:

A common owner is entitled to his or her fractional share of any rent or income produced from the real property.

It is not required that tenants by the entirety be married to each other.

A managing member of a limited liability company has personal liability for the debts and obligations of the limited liability company.

Introduction to the Law of Real Property

Surveys and Land Descriptions 1

Encumbrances Easements and Licenses

Contracts

Deeds

Legal Aspects of Real Estate Finance

Title Examinations

Title Insurance

Real Estate Closings

Condominiums and Cooperatives

Leases

Filters