Question 1

What is an example of community property?

Accepted Answer

A)  Log cabin inherited by a husband 
B)  Ranch inherited by a wife 
C)  Boat bought by a wife 
D)  Beach house given to a wife as a gift by her relatives 
A)  Log cabin inherited by a husband 
B)  Ranch inherited by a wife 
C)  Boat bought by a wife 
D)  Beach house given to a wife as a gift by her relatives

Question 2

What was common law application of tenancy by the entirety?

Accepted Answer

A)  Husband only had right to all the profits of the estate 
B)  Wife had the entire control over the marital estate 
C)  Husband and wife had mutual control over the marital estate 
D)  Husband had the entire control over the marital estate 
A)  Husband only had right to all the profits of the estate 
B)  Wife had the entire control over the marital estate 
C)  Husband and wife had mutual control over the marital estate 
D)  Husband had the entire control over the marital estate

Question 3

What organizations are created by developers for the purposes of marketing and managing housing developments?

Accepted Answer

A)  Proprietors associations 
B)  Homeowners associations 
C)  Property holders associations 
D)  Property owners associations 
A)  Proprietors associations 
B)  Homeowners associations 
C)  Property holders associations 
D)  Property owners associations

Question 4

Under common law doctrine, each spouse owns the entire estate.

Accepted Answer

A) True 
 B)False

Question 5

When tenants in common want to separate their interests in the property, they can petition the court for a ________ of the premises.

Accepted Answer

The answer of When tenants in common want to separate...

Question 6

Define a cooperative apartment and identify the key characteristics of this separate ownership of property.

Accepted Answer

Definition: A cooperative apartment is a

Question 7

What kind of unity have tenants in common?

Accepted Answer

A)  Unity of time 
B)  Unity of possession 
C)  Unity of interest 
D)  Unity of title 
A)  Unity of time 
B)  Unity of possession 
C)  Unity of interest 
D)  Unity of title

Question 8

Match the terms with their descriptions:
-Unit deed

Accepted Answer

A)  Law governing a tenancy by partnership 
B)  Equal interest in a property by all owners 
C)  Deed to a condominium describing the entire property owned by the condominium association 
D)  Community property jurisdiction 
E)  Fee simple ownership of a unit of real property in which the owner can exercise the right of possession for only an interval of time
F) Real property is owned separately by one person
G) Division of the property into separate parcels
H) Tenancy that may be held only by a husband and wife
I) Deed to an individual condominium unit being transferred
J) To collect a sum of money by putting into effect the judgment of a court 
A)  Law governing a tenancy by partnership 
B)  Equal interest in a property by all owners 
C)  Deed to a condominium describing the entire property owned by the condominium association 
D)  Community property jurisdiction 
E)  Fee simple ownership of a unit of real property in which the owner can exercise the right of possession for only an interval of time
F) Real property is owned separately by one person
G) Division of the property into separate parcels
H) Tenancy that may be held only by a husband and wife
I) Deed to an individual condominium unit being transferred
J) To collect a sum of money by putting into effect the judgment of a court

Question 9

Match the terms with their descriptions:
-Uniform Partnership Act

Accepted Answer

A)  Law governing a tenancy by partnership 
B)  Equal interest in a property by all owners 
C)  Deed to a condominium describing the entire property owned by the condominium association 
D)  Community property jurisdiction 
E)  Fee simple ownership of a unit of real property in which the owner can exercise the right of possession for only an interval of time
F) Real property is owned separately by one person
G) Division of the property into separate parcels
H) Tenancy that may be held only by a husband and wife
I) Deed to an individual condominium unit being transferred
J) To collect a sum of money by putting into effect the judgment of a court 
A)  Law governing a tenancy by partnership 
B)  Equal interest in a property by all owners 
C)  Deed to a condominium describing the entire property owned by the condominium association 
D)  Community property jurisdiction 
E)  Fee simple ownership of a unit of real property in which the owner can exercise the right of possession for only an interval of time
F) Real property is owned separately by one person
G) Division of the property into separate parcels
H) Tenancy that may be held only by a husband and wife
I) Deed to an individual condominium unit being transferred
J) To collect a sum of money by putting into effect the judgment of a court

Question 10

Match the terms with their descriptions:
-Master deed

Accepted Answer

A)  Law governing a tenancy by partnership 
B)  Equal interest in a property by all owners 
C)  Deed to a condominium describing the entire property owned by the condominium association 
D)  Community property jurisdiction 
E)  Fee simple ownership of a unit of real property in which the owner can exercise the right of possession for only an interval of time
F) Real property is owned separately by one person
G) Division of the property into separate parcels
H) Tenancy that may be held only by a husband and wife
I) Deed to an individual condominium unit being transferred
J) To collect a sum of money by putting into effect the judgment of a court 
A)  Law governing a tenancy by partnership 
B)  Equal interest in a property by all owners 
C)  Deed to a condominium describing the entire property owned by the condominium association 
D)  Community property jurisdiction 
E)  Fee simple ownership of a unit of real property in which the owner can exercise the right of possession for only an interval of time
F) Real property is owned separately by one person
G) Division of the property into separate parcels
H) Tenancy that may be held only by a husband and wife
I) Deed to an individual condominium unit being transferred
J) To collect a sum of money by putting into effect the judgment of a court

Question 11

What is a characteristic of property ownership as tenancy in common?

Accepted Answer

A)  Tenants own a unified right to be on the property 
B)  Tenants individually own a financial stake 
C)  All of the above 
D)  None of the above 
A)  Tenants own a unified right to be on the property 
B)  Tenants individually own a financial stake 
C)  All of the above 
D)  None of the above

Question 12

Match the terms with their descriptions:
-Partition

Accepted Answer

A)  Law governing a tenancy by partnership 
B)  Equal interest in a property by all owners 
C)  Deed to a condominium describing the entire property owned by the condominium association 
D)  Community property jurisdiction 
E)  Fee simple ownership of a unit of real property in which the owner can exercise the right of possession for only an interval of time
F) Real property is owned separately by one person
G) Division of the property into separate parcels
H) Tenancy that may be held only by a husband and wife
I) Deed to an individual condominium unit being transferred
J) To collect a sum of money by putting into effect the judgment of a court 
A)  Law governing a tenancy by partnership 
B)  Equal interest in a property by all owners 
C)  Deed to a condominium describing the entire property owned by the condominium association 
D)  Community property jurisdiction 
E)  Fee simple ownership of a unit of real property in which the owner can exercise the right of possession for only an interval of time
F) Real property is owned separately by one person
G) Division of the property into separate parcels
H) Tenancy that may be held only by a husband and wife
I) Deed to an individual condominium unit being transferred
J) To collect a sum of money by putting into effect the judgment of a court

Question 13

What is a legal basis for tenancy by the entirety?

Accepted Answer

A)  Administrative regulation 
B)  Common law doctrine 
C)  State constitution 
D)  Legislation 
A)  Administrative regulation 
B)  Common law doctrine 
C)  State constitution 
D)  Legislation

Question 14

Match the terms with their descriptions:
-Unity of interest

Accepted Answer

A)  Law governing a tenancy by partnership 
B)  Equal interest in a property by all owners 
C)  Deed to a condominium describing the entire property owned by the condominium association 
D)  Community property jurisdiction 
E)  Fee simple ownership of a unit of real property in which the owner can exercise the right of possession for only an interval of time
F) Real property is owned separately by one person
G) Division of the property into separate parcels
H) Tenancy that may be held only by a husband and wife
I) Deed to an individual condominium unit being transferred
J) To collect a sum of money by putting into effect the judgment of a court 
A)  Law governing a tenancy by partnership 
B)  Equal interest in a property by all owners 
C)  Deed to a condominium describing the entire property owned by the condominium association 
D)  Community property jurisdiction 
E)  Fee simple ownership of a unit of real property in which the owner can exercise the right of possession for only an interval of time
F) Real property is owned separately by one person
G) Division of the property into separate parcels
H) Tenancy that may be held only by a husband and wife
I) Deed to an individual condominium unit being transferred
J) To collect a sum of money by putting into effect the judgment of a court

Question 15

What term describes a portion of a condominium owned separately in fee simple by an individual owner?

Accepted Answer

A)  Block 
B)  Share 
C)  Unit 
D)  Compartment 
A)  Block 
B)  Share 
C)  Unit 
D)  Compartment

Question 16

A tenancy by the ________ may be held only by a married couple.

Accepted Answer

The answer of A tenancy by the ________ may be...

Question 17

In community property jurisdictions, gifts acquired by spouses during marriage belong to both spouses equally.

Accepted Answer

A) True 
 B)False

Question 18

What term means "to collect a sum of money by putting into effect the judgment of a court"?

Accepted Answer

A)  Levy on judgment 
B)  Levy on execution 
C)  Levy on implementation 
D)  Levy on performance 
A)  Levy on judgment 
B)  Levy on execution 
C)  Levy on implementation 
D)  Levy on performance

Question 19

Community property originated in France.

Accepted Answer

A) True 
 B)False

Question 20

What is concurrent ownership?

Accepted Answer

A)  Real property owned by more than one person 
B)  Real property owned severally 
C)  Real property owned by business partners 
D)  Real property owned by a married couple 
A)  Real property owned by more than one person 
B)  Real property owned severally 
C)  Real property owned by business partners 
D)  Real property owned by a married couple

Exam 33: Multiple Ownership of Real Property

What is an example of community property?

What was common law application of tenancy by the entirety?

What organizations are created by developers for the purposes of marketing and managing housing developments?

Under common law doctrine, each spouse owns the entire estate.

When tenants in common want to separate their interests in the property, they can petition the court for a ________ of the premises.

Define a cooperative apartment and identify the key characteristics of this separate ownership of property.

What kind of unity have tenants in common?

Match the terms with their descriptions: -Unit deed

Match the terms with their descriptions: -Uniform Partnership Act

Match the terms with their descriptions: -Master deed

What is a characteristic of property ownership as tenancy in common?

Match the terms with their descriptions: -Partition

What is a legal basis for tenancy by the entirety?

Match the terms with their descriptions: -Unity of interest

What term describes a portion of a condominium owned separately in fee simple by an individual owner?

A tenancy by the ________ may be held only by a married couple.

In community property jurisdictions, gifts acquired by spouses during marriage belong to both spouses equally.

What term means "to collect a sum of money by putting into effect the judgment of a court"?

Community property originated in France.

What is concurrent ownership?

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