Exam 48: Interests in Real Property

Although the court in James v. Taylor recognized that the presumption has been changed by statute in many states, the court stated that at common law, if the wording in a deed was ambiguous, the law favored a:

A reversion is held by a person other than the grantor or his successors.

A freehold estate is:

Jack, a landlord, sells his apartment house to Bob, who knows that each of the four apartments is rented. May Bob tell the tenants to vacate and install his own tenants?

All interests in property that can be conveyed carry the right to immediate possession.

Nick rents to Lorna an apartment beginning September 1. Nick has the obligation:

a. What is a fee simple? b. What is a life estate? c. If Ed grants a life estate to his wife, what interest does he retain? Explain.

All other estates are derived from the fee simple estate.

Myra, Elsa, and Ellen are sisters who own 500 acres of land as tenants in common. Discuss the interest each has in the real estate.

Joanne rents a single-family house for one year starting September 1. If the house burns down, the common law requires:

A periodic leasehold tenancy may be terminated:

Ed signs a ten-year lease with a survival clause. If Ed is evicted after two years, he will have to pay:

Mom and Carolyn own a farm as joint tenants. When Mom dies, her share will pass to:

A characteristic of a tenancy in common is that:

A tenancy for years must have a duration of at least two years, and notice to terminate must be given at least one month before ending the lease.

If Gil assigns his lease to Jim, Gil has no further obligations to his landlord.

The characteristics of a qualified or base fee estate include(s) that:

Barton granted his neighbor, Mullins, the right to graze her cattle on Barton's land. Identify the type of property interest Mullins has in Barton's land and explain how such interests are created.

Millie, a tenant, wrongfully abandons her apartment after six months, even though there are six months left on her lease. If there is no survival clause in the lease, would the landlord be able to hold Millie liable for rent?

The greatest ownership interest a person may have in real property is: