Question 1

The concept of waste, as used in real property, includes:

Accepted Answer

A)  any act that permanently injures the realty. 
B)  any omission that permanently injures the realty. 
C)  any act that unreasonably changes the value of the realty. 
D)  All of these.

Question 2

Mariella's purchase of a ticket to the ballet grants her a license to use the theater's premises during the performance, but it does not give her an interest in the real property.

Accepted Answer

A) True 
 B)False

Question 3

How may an easement be created?

Accepted Answer

A)  By prescription. 
B)  By reservation. 
C)  By necessity. 
D)  It may be created in all of the above ways.

Question 4

Maureen agrees to sell her interest in the farm to Joe.Maureen and her husband, Bill, hold the property as tenants by the entireties.What consequence?

Accepted Answer

A)  There is no sale. 
B)  The sale severs the tenancy and creates a joint tenancy. 
C)  The sale transfers one-half interest in the land. 
D)  The sale results in a partition of the land.

Question 5

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.

Accepted Answer

The answer of Barton granted his neighbor, Mullins, the right...

Question 6

Which of the following is NOT an example of concurrent ownership?

Accepted Answer

A)  A joint tenancy. 
B)  A tenancy by the entireties. 
C)  A tenancy in common. 
D)  A lease between a landlord and a tenant.

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

In a condominium:

Accepted Answer

A)  all residents own shares in the corporation that owns the building. 
B)  each resident purchases a living unit in the building. 
C)  the tenant owns a reversionary interest in the property. 
D)  the tenant creates a future interest in the property known as a possibility of reverter.

Question 9

A transaction whereby the tenant transfers away her entire interest under a lease is called a(n):

Accepted Answer

A)  sublease. 
B)  assignment. 
C)  eviction. 
D)  abandonment.

Question 10

A license is generally subject to revocation by the property owner at any time.

Accepted Answer

A) True 
 B)False

Question 11

Grandfather conveyed to Erin the right to the family farm after her grandmother dies.This is called:

Accepted Answer

A)  a possibility of a reverter. 
B)  a reversionary interest. 
C)  a vested remainder. 
D)  a contingent remainder.

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is a true statement concerning a life estate?

Accepted Answer

A)  A life estate is an ownership right for the life of the grantor. 
B)  A life estate is an ownership right in property for the life of any individual designated by the grantor. 
C)  A life estate requires special wording, prescribed by statute, to create it. 
D)  None of these.

Question 14

Community property does not include a ring owned by the wife prior to the marriage.

Accepted Answer

A) True 
 B)False

Question 15

For a person to acquire an easement, he must have the permission of the owner to use the land.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A)  it is possible to convey or will property to a person to enjoy absolutely, subject to its being taken away at a later date should a certain event occur. 
B)  a holder of a qualified fee interest may transfer the property by deed, subject to the initial condition. 
C)  a qualified fee interest may pass by intestate succession. 
D)  All of these.

Question 17

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?

Accepted Answer

A)  Yes, but he must leave the apartment vacant. 
B)  Yes, after he gives notice to Millie. 
C)  Yes, after he relets the apartment. 
D)  No, the obligation to pay ended when Millie abandoned the apartment.

Question 18

If the lease is silent on the subject, a tenant may assign his lease.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

A leasehold is like a bailment in that it permits the tenant to have a possessory but not an ownership interest in the landlord's estate.

Accepted Answer

A) True 
 B)False

Exam 48: Interests in Real Property

The concept of waste, as used in real property, includes:

Mariella's purchase of a ticket to the ballet grants her a license to use the theater's premises during the performance, but it does not give her an interest in the real property.

How may an easement be created?

Maureen agrees to sell her interest in the farm to Joe.Maureen and her husband, Bill, hold the property as tenants by the entireties.What consequence?

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.

Which of the following is NOT an example of concurrent ownership?

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

In a condominium:

A transaction whereby the tenant transfers away her entire interest under a lease is called a(n) :

A license is generally subject to revocation by the property owner at any time.

Grandfather conveyed to Erin the right to the family farm after her grandmother dies.This is called:

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

Which of the following is a true statement concerning a life estate?

Community property does not include a ring owned by the wife prior to the marriage.

For a person to acquire an easement, he must have the permission of the owner to use the land.

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

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?

If the lease is silent on the subject, a tenant may assign his lease.

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

A leasehold is like a bailment in that it permits the tenant to have a possessory but not an ownership interest in the landlord's estate.