Question 1

Explain the rights of the owners and the association in a condominium ownership interest.

Accepted Answer

The answer of Explain the rights of the owners and...

Question 2

Which of the following statements is true of a conditional estate?

Accepted Answer

A) It is the present right to own and possess the land in the future. 
B) When a person's interest terminates, the interest must be transferred to the former owner. 
C) It can be set up so that failure to meet a condition terminates the estate. 
D) It is the right to own and possess land until one dies, subject to the condition that the property cannot be used in such a way as to destroy its value.

Question 3

Debra owns a farm. She has the right to own and possess the farm until her death. She is not allowed to waste the property, and she cannot use the property in such a way as to destroy its value to future holders. Which of the following interests in real property does Debra have?

Accepted Answer

A) fee simple absolute 
B) conditional estate 
C) life estate 
D) future interest

Question 4

Which of the following is a feature of a leasehold?

Accepted Answer

A) It is an ownership interest. 
B) It is the present right to possess and own land in the future. 
C) The person who has a leasehold is entitled to use the property until a certain condition occurs. 
D) The person who has a leasehold is usually entitled to exclude the property owner for the period of the lease.

Question 5

Which of the following statements is true of tenancy by the entirety?

Accepted Answer

A) Upon the death of an owner, his or her property interest is divided among the other owners. 
B) Upon divorce, tenancy by the entirety automatically becomes tenancy in common. 
C) Owners may sell their interest in the property without the consent of the other owners. 
D) Creditors of only one owner may attach the property.

Question 6

Some state laws require that the finder of mislaid property must place an ad in a newspaper.

Accepted Answer

A) True 
 B)False

Question 7

A conveyance of ownership is presumed to be the conveyance of a fee simple absolute unless something to the contrary is stated.

Accepted Answer

A) True 
 B)False

Question 8

Recording is essential for the transfer of ownership.

Accepted Answer

A) True 
 B)False

Question 9

Simon owns a property. He may not destroy its value to future holders. After his death, the property will pass to Rachel. Which of the following interests in real property does Rachel have?

Accepted Answer

A) life estate 
B) future interest 
C) conditional estate 
D) fee simple absolute

Question 10

In most states, the finder of lost property has title to the property against all others.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following statements is true about easements?

Accepted Answer

A) One who has an easement is entitled to exclude all others, including the property owner for the period of the agreement. 
B) One who has an easement is entitled to use the property for any legal purpose that does not destroy the property's value. 
C) An easement by prescription arises when the landowner enters into a contract to allow the land to be used for a specific purpose. 
D) An easement by necessity arises when a piece of property is divided and, as a result, one portion is landlocked.

Question 12

In the context of condominiums, "CC&Rs" refers to ________.

Accepted Answer

A) Commercial Codes and Regulations 
B) Conventional Contracts and Releases 
C) Covenants, Conditions, and Restrictions 
D) a cooperative's credit and restitution documents

Question 13

Eminent domain is the right of the government to transfer private property from one business to another.

Accepted Answer

A) True 
 B)False

Question 14

In which of the following types of ownership is the ownership interest transferred to an owner's spouse upon his or her death?

Accepted Answer

A) joint tenancy 
B) tenancy in common 
C) tenancy by the entirety 
D) fee simple absolute

Question 15

Only when a deed has been _______ is the deed said to have been executed.

Accepted Answer

A) signed by the grantor and the grantee 
B) delivered to the grantee or to a predetermined third party 
C) accepted by the grantee 
D) filed with the appropriate county office

Question 16

What are the characteristics of a properly drafted deed?

Accepted Answer

The answer of What are the characteristics of a properly...

Question 17

Which of the following is a feature of tenancy by the entirety?

Accepted Answer

A) One owner is not permitted to sell his or her interest in the property without the consent of the other owner. 
B) Upon divorce, tenancy by the entirety automatically becomes joint tenancy. 
C) Upon the death of an owner, his or her property is divided among the other owners. 
D) All the owners' interest in the property can be attached by one of the owners' creditors.

Question 18

Which of the following statements is true about tenancy in common?

Accepted Answer

A) All the co-owners must own equal shares of the property. 
B) Upon the death of an owner, his or her property interest is divided among the other owners. 
C) Owners' interest in the property cannot be attached by creditors. 
D) Owners may sell their interest in the property without the consent of other owners.

Question 19

When is a landowner permitted to use his or her land in a manner prohibited by zoning laws?

Accepted Answer

The answer of When is a landowner permitted to use...

Question 20

How did the Dolan v. City of Tigard case influence the laws restricting people's use of their property?

Accepted Answer

The answer of How did the Dolan v. City of...

Exam 13: Law of Property: Real and Personal

Explain the rights of the owners and the association in a condominium ownership interest.

Which of the following statements is true of a conditional estate?

Debra owns a farm. She has the right to own and possess the farm until her death. She is not allowed to waste the property, and she cannot use the property in such a way as to destroy its value to future holders. Which of the following interests in real property does Debra have?

Which of the following is a feature of a leasehold?

Which of the following statements is true of tenancy by the entirety?

Some state laws require that the finder of mislaid property must place an ad in a newspaper.

A conveyance of ownership is presumed to be the conveyance of a fee simple absolute unless something to the contrary is stated.

Recording is essential for the transfer of ownership.

Simon owns a property. He may not destroy its value to future holders. After his death, the property will pass to Rachel. Which of the following interests in real property does Rachel have?

In most states, the finder of lost property has title to the property against all others.

Which of the following statements is true about easements?

In the context of condominiums, "CC&Rs" refers to ________.

Eminent domain is the right of the government to transfer private property from one business to another.

In which of the following types of ownership is the ownership interest transferred to an owner's spouse upon his or her death?

Only when a deed has been _______ is the deed said to have been executed.

What are the characteristics of a properly drafted deed?

Which of the following is a feature of tenancy by the entirety?

Which of the following statements is true about tenancy in common?

When is a landowner permitted to use his or her land in a manner prohibited by zoning laws?

How did the Dolan v. City of Tigard case influence the laws restricting people's use of their property?