Deck 2: Part I: Legal Description, Method of Acquiring Title , and Deeds

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Question
How many square feet are in an acre?
(a) 5,280
(b) 14,970
(c) 43,560
(d) 75,436
Use Space or
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Question
What would not be an example of a trade fixture:
(a) attached shelving in a retail store
(b) an oven in a restaurant
(c) a swing set at a day care facility
(d) a water heater in a residence
Question
The Connecticut case, Kelo vs. New London, was decided by a U.S. Supreme Court ruling which had an impact on:
(a) how foreclosures should be conducted.
(b) whether or not a partition action can be taken.
(c) how private property can be taken to further economic development.
(d) how filing for bankruptcy will stop foreclosure.
Question
Airspace above a parcel of land is:
(a) real property
(b) personal property
(c) an encumbrance
(d) a fixture
Question
In a dispute over fixtures, courts tend to favor
(a) sellers over buyers
(b) landlords over tenants
(c) lenders over borrowers
(d) grantors over grantees
Question
All of the following are real property except:
(a) fruit trees
(b) chattels
(c) stock in a mutual water company
(d) built-in stove
Question
Zoning regulations have the greatest impact on which right?
(a) right to encumber
(b) right to possess
(c) right to use
(d) right to exclude
Question
Which of the following is a test of a fixture?
(a) attachment
(b) chose
(c) appropriation
(d) restrictions
Question
The W 1/2 of the NW 1/4 of the NW 1/4 of the SE 1/4, and the SW 1/4 of Section 10 contains:
(a) 2 1/2 acres
(b) 5 acres
(c) 45 acres
(d) 165 acres
Question
Ben's father passed away and left Ben a ring in his will that Ben had always admired along with a sizeable sum of money. Ben received this gift as a:
(a) bequest.
(b) devise.
(c) legacy.
(d) both a and c.
Question
Shelves in a retail store are an example of:
(a) real estate
(b) encumbrances
(c) trade fixtures
(d) real property
Question
If a married person dies testate and leaves all community property, the decedent's interest passes to the:
(a) whomever is named in the will
(b) surviving spouse and children, if any
(c) surviving spouse
(d) surviving children, and not to surviving spouse
Question
The sudden tearing away of land along a river with the re-deposit of the land on the other side of the river, downstream, is called:
(a) erosion
(b) accretion
(c) avulsion
(d) reliction
Question
When possession of land includes open and notorious use for 5 years, hostile to the owner's wishes, and payment of property taxes, this best describes:
(a) intestate succession
(b) accession title
(c) alluvion ownership
(d) adverse possession
Question
The right of a landowner along a river to take water is called:
(a) percolating rights
(b) river water rights
(c) user rights
(d) riparian rights
Question
California became a state in:
(a) 1803
(b) 1848
(c) 1849
(d) 1850
Question
A person who makes a will is the:
(a) executor (trix)
(b) administrator (trix)
(c) devisor (ee)
(d) testator (trix)
Question
Which of the following would be considered real property?
(a) a potted plant in the backyard
(b) patio furniture
(c) a chandelier
(d) a washing machine
Question
In the U. S. Government Survey System, which lines run parallel to the principal base line?
(a) township line
(b) meridian line
(c) range line
(d) survey line
Question
The passing of title to the state because of the lack of heirs is called:
(a) escheat
(b) eminent domain
(c) police power
(d) condemnation
Question
The recording of a deed gives:
(a) actual notice
(b) constructive notice
(c) right of possession
(d) effective notice
Question
A deed need not be recorded in order to be valid, but must be delivered. Effective delivery depends on:
(a) valid acknowledgment by the grantor
(b) physical transfer
(c) intention of the grantor
(d) knowledge of its existence by the grantee
Question
Which of the following is not required for a deed to be valid?
(a) signature of grantor
(b) granting clause
(c) date
(d) must be in writing
Question
If a court proceeds to confirm a probate sale, the first additional bid must be what percent above the original bid?
(a) 5% on the first $10,000, 3% on the remainder
(b) 5% on the first $10,000 and any amount on the remainder
(c) 10% on the first $10,000, 5% on the remainder
(d) 10% on the first $10,000 and any amount on the remainder
Question
Who is competent to deed title to real estate?
(a) 17-year-old unmarried student
(b) married 16-year-old
(c) convict under a death sentence
(d) none of the above are competent to deed
Question
If a married person with two children dies intestate and leaves community property, the descendant interest passes to the:
(a) surviving spouse and children
(b) surviving children, and not the surviving spouse
(c) surviving spouse
(d) surviving parents
Question
According to the laws of California, which of the following documents must be recorded to be valid?
(a) land mortgage
(b) grant deed
(c) trust deed
(d) none of the above
Question
When describing or locating a piece of property using the metes and bounds system, which of these would be classified as artificial markers?
(a) rocks
(b) trees
(c) streets
(d) rivers
Question
When a gift deed is used to transfer title to real property, the deed may be set aside or voided by:
(a) certain debtors of the grantor
(b) no one
(c) certain creditors of the grantor
(d) someone who later purchases the land from the gift deed grantor
Question
A metes and bounds description requires:
(a) a point of beginning
(b) a distance and direction from one point to another
(c) a return to the point of beginning
(d) all of the above
Question
Mr. and Mrs. Smith were interested in purchasing a vacant lot. However, they first wanted the property surveyed. When the surveyor came out to measure the property he began measuring from the iron spike embedded in the middle of the street. In this case the iron spike would be known as:
(a) a benchmark.
(b) an angular line.
(c) a vara.
(d) a compass.
Question
Before a deed is recorded, it must be acknowledged by:
(a) the grantee
(b) a notary public
(c) the escrow officer
(d) the grantor
Question
Under the United States Government Survey system, a property containing this description includes how many acres? "The S 1/2 of the SE 1/4 of Section 17 and the E 1/2 of the NE 1/4 of Section 23 and the SW 1/4 of the NW 1/4 of Section 21":
(a) 160 acres
(b) 200 acres
(c) 240 acres
(d) 220 acres
Question
There are implied warranties made by the grantor in a grant deed. Which one of the following is not implied?
(a) property has not been encumbered by grantor except as disclosed
(b) the interest held by grantor is being transferred to the grantee
(c) the grantor holds a certificate of title to the property
(d) the interest being deeded has not been conveyed to others
Question
The County Recorder files deeds according to:
(a) first to record is first to be filed
(b) legal descriptions
(c) grantor-grantee index
(d) the city where the property is located
Question
Real estate law states that in order to be valid, a deed must contain:
(a) a date
(b) a granting clause
(c) the signature of the grantee
(d) evidence of a notary
Question
Title can be transferred from government to private owners using a:
(a) fiduciary grant
(b) partition grant
(c) public dedication
(d) patent
Question
A sequential list of owners for a parcel of real estate is called:
(a) constructive notice
(b) chain of title
(c) notarized record
(d) deed of reconveyance
Question
Chang deeds to Lopez and Lopez takes possession but does not record the deed. Chang then tells his friend Jones about the deed to Lopez. Chang then deeds the same property to Jones, who records the deed. Based on this information, title probably vests in:
(a) Lopez
(b) Chang
(c) Jones
(d) both Lopez and Jones
Question
A major railroad company plans to run a line across Kuan's property. If Kuan refuses to give permission, the railroad company can proceed to take action through the use of:
(a) eminent domain
(b) partition action
(c) injunction
(d) writ of execution
Question
For a married couple, community property rules include all of the following except:
(a) property acquired by gift after marriage can be separate property
(b) each spouse must will their interest to the surviving spouse if title is held without the right of survivorship
(c) it takes the signature of both spouses to sell community property
(d) each spouse has the equal right to manage community property
Question
A married couple is planning to purchase a home. If they want to take title in such a way as to be able to will their separate interest, they should take title as:
(a) community property, without the right of survivorship
(b) joint tenants
(c) limited partners
(d) any of the above
Question
Interest in real property held by a tenant is called:
(a) freehold estate
(b) fee estate
(c) rental estate
(d) less-than-freehold estate
Question
A valid joint tenancy must have the four unities of:
(a) time, title, interest, remainder
(b) title, time, possession, interest
(c) interest, right, possession, time
(d) time, title, occupancy, possession
Question
Johnson and Moscowitz hold title as tenants in common. Upon Johnson's death, Johnson's interest passes to:
(a) Johnson's heirs without probate
(b) Johnson's heirs with probate
(c) Moscowitz without probate
(d) Moscowitz with probate
Question
Title held as "Elva L. Vargas, an unmarried woman" is an example of:
(a) joint tenancy
(b) tenancy in common
(c) estate in remainder
(d) ownership in severalty
Question
Real estate syndicates usually hold title as:
(a) joint tenants
(b) a limited partnership
(c) a corporation
(d) tenants in common
Question
Mr. Rhu deeds a life estate to Ms. Silva with the stipulation that upon her death the property comes back to him. If Rhu and Silva are killed together in an auto accident, who gets the property?
(a) it escheats to the state
(b) Rhu's heirs and devisees
(c) Silva's heirs
(d) the county where property is located
Question
In which one of the following ways are joint tenancy and tenants in common similar?
(a) title can only be held by husband and wife
(b) both provide the right of survivorship
(c) all owners have the right to will their interest in the property
(d) both carry the right of possession
Question
A deeds to B for the life of C; upon C's death, title passes to D. This is an example of:
(a) an estate in reversion
(b) a grant of a reservation
(c) a less-than-freehold estate
(d) an estate in remainder
Question
Which of the following is not a principal baseline and meridian?
(a) Humboldt
(b) Mount Diablo
(c) Riverside
(d) San Bernardino
Question
The highest form of ownership a person can have in a piece of property is:
(a) fee simple absolute
(b) fee simple qualified
(c) life estate
(d) testate estate
Question
Community property is normally defined as any property acquired by a married person or registered domestic person:
(a) prior to marriage or registration
(b) during marriage or registration
(c) by gift
(d) by inheritance
Question
Assume a brother and sister own title in a commercial property as joint tenants. The brother marries and deeds his interest to himself and his new wife. The sister now holds title in the property as:
(a) community property as to 1/4 interest
(b) ownership in severalty
(c) joint tenant
(d) tenant in common
Question
Susan owned a home prior to marriage to Carlos. Upon marriage, Susan's home:
(a) remains her separate property unless commingled
(b) automatically becomes community property
(c) is converted to joint tenancy
(d) must have a deed recorded showing her married name
Question
Greene deeds a life estate to Blue and upon Blue's death, title passes to Brown. This is an example of what type of life estate?
(a) estate in reversion
(b) estate in reservation
(c) estate in remainder
(d) estate in severalty
Question
Don and June Seaman, father and daughter, purchased real estate as joint tenancy. Don died and left a number of personal debts. If he possessed no money or other property, his creditors could:
(a) place a lien against his daughter's property
(b) obtain no satisfaction against the real estate
(c) sue the daughter for the money
(d) place an attachment against the real estate
Question
When a non-occupying investor and an owner-occupant pool their resources to buy a home, this is called:
(a) equity ownership
(b) equity occupancy
(c) equity sharing
(d) equity investing
Question
If a person took title to real estate as a sole owner, the ownership is called:
(a) ownership in gross
(b) ownership in common
(c) ownership in tenancy
(d) ownership in severalty
Question
Which of the following is not considered concurrent ownership?
(a) As an unmarried person
(b) Community property
(c) As a widow
(d) None of the above
Question
A valuable parcel of land was left to two sisters, Mary and Josephine, as joint tenants. Later on both of them married. Mary was killed in an auto accident, leaving no will. In this situation, Mary's family would acquire:
(a) half interest as a tenant in common with Josephine
(b) one-quarter interest in the property
(c) no interest in the property
(d) half interest as joint tenants with Josephine
Question
Which one of the following is a correct statement regarding tenancy in common?
(a) of the four unities, only the unity of possession is required
(b) the same right of survivorship exists as in joint tenancy
(c) each owner has an equal interest in the property
(d) upon the death of one co-owner, no probate is required
Question
To have a valid joint tenancy, all the owner names must appear on the same document. This is known as the unity of:
(a) time
(b) title
(c) interest
(d) possession
Question
Life estates are created by a:
(a) mortgage.
(b) deed.
(c) trust deed.
(d) both b and c.
Question
Which of the following is not considered to be a characteristic of a fee simple estate?
(a) it is free of all encumbrances
(b) it may be willed
(c) it is transferable
(d) it is of indefinite duration
Question
Richard received a life estate from Isabell, who has no heirs. The estate was granted for the life of Richard. Richard then leased the property to Myron for four years. If Isabell were to die within the next two years, possession of the property would:
(a) go to the probate court
(b) escheat to the State of California
(c) return to Richard
(d) stay with Myron for the duration of the lease or the life of Richard
Question
There are advantages and disadvantages in taking title as a joint tenant. Any person holding title in joint tenancy may dispose of all or a part of his/her interest in all of the following ways, except:
(a) by lease
(b) by gift
(c) by sale
(d) by will
Question
A corporation is not allowed to hold title as:
(a) tenants in partnership
(b) joint tenants
(c) tenants in common
(d) joint venture
Question
Joint tenancy has certain special characteristics. Which of these is considered to be the most important?
(a) the right to will
(b) the right of survivorship
(c) the right to encumber
(d) the right to an undivided interest
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Deck 2: Part I: Legal Description, Method of Acquiring Title , and Deeds
1
How many square feet are in an acre?
(a) 5,280
(b) 14,970
(c) 43,560
(d) 75,436
C
2
What would not be an example of a trade fixture:
(a) attached shelving in a retail store
(b) an oven in a restaurant
(c) a swing set at a day care facility
(d) a water heater in a residence
D
3
The Connecticut case, Kelo vs. New London, was decided by a U.S. Supreme Court ruling which had an impact on:
(a) how foreclosures should be conducted.
(b) whether or not a partition action can be taken.
(c) how private property can be taken to further economic development.
(d) how filing for bankruptcy will stop foreclosure.
C
4
Airspace above a parcel of land is:
(a) real property
(b) personal property
(c) an encumbrance
(d) a fixture
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k this deck
5
In a dispute over fixtures, courts tend to favor
(a) sellers over buyers
(b) landlords over tenants
(c) lenders over borrowers
(d) grantors over grantees
Unlock Deck
Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
6
All of the following are real property except:
(a) fruit trees
(b) chattels
(c) stock in a mutual water company
(d) built-in stove
Unlock Deck
Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
7
Zoning regulations have the greatest impact on which right?
(a) right to encumber
(b) right to possess
(c) right to use
(d) right to exclude
Unlock Deck
Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
8
Which of the following is a test of a fixture?
(a) attachment
(b) chose
(c) appropriation
(d) restrictions
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9
The W 1/2 of the NW 1/4 of the NW 1/4 of the SE 1/4, and the SW 1/4 of Section 10 contains:
(a) 2 1/2 acres
(b) 5 acres
(c) 45 acres
(d) 165 acres
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10
Ben's father passed away and left Ben a ring in his will that Ben had always admired along with a sizeable sum of money. Ben received this gift as a:
(a) bequest.
(b) devise.
(c) legacy.
(d) both a and c.
Unlock Deck
Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
11
Shelves in a retail store are an example of:
(a) real estate
(b) encumbrances
(c) trade fixtures
(d) real property
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k this deck
12
If a married person dies testate and leaves all community property, the decedent's interest passes to the:
(a) whomever is named in the will
(b) surviving spouse and children, if any
(c) surviving spouse
(d) surviving children, and not to surviving spouse
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Unlock Deck
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13
The sudden tearing away of land along a river with the re-deposit of the land on the other side of the river, downstream, is called:
(a) erosion
(b) accretion
(c) avulsion
(d) reliction
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Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
14
When possession of land includes open and notorious use for 5 years, hostile to the owner's wishes, and payment of property taxes, this best describes:
(a) intestate succession
(b) accession title
(c) alluvion ownership
(d) adverse possession
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Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
15
The right of a landowner along a river to take water is called:
(a) percolating rights
(b) river water rights
(c) user rights
(d) riparian rights
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k this deck
16
California became a state in:
(a) 1803
(b) 1848
(c) 1849
(d) 1850
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k this deck
17
A person who makes a will is the:
(a) executor (trix)
(b) administrator (trix)
(c) devisor (ee)
(d) testator (trix)
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18
Which of the following would be considered real property?
(a) a potted plant in the backyard
(b) patio furniture
(c) a chandelier
(d) a washing machine
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19
In the U. S. Government Survey System, which lines run parallel to the principal base line?
(a) township line
(b) meridian line
(c) range line
(d) survey line
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Unlock Deck
k this deck
20
The passing of title to the state because of the lack of heirs is called:
(a) escheat
(b) eminent domain
(c) police power
(d) condemnation
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Unlock Deck
k this deck
21
The recording of a deed gives:
(a) actual notice
(b) constructive notice
(c) right of possession
(d) effective notice
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22
A deed need not be recorded in order to be valid, but must be delivered. Effective delivery depends on:
(a) valid acknowledgment by the grantor
(b) physical transfer
(c) intention of the grantor
(d) knowledge of its existence by the grantee
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23
Which of the following is not required for a deed to be valid?
(a) signature of grantor
(b) granting clause
(c) date
(d) must be in writing
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k this deck
24
If a court proceeds to confirm a probate sale, the first additional bid must be what percent above the original bid?
(a) 5% on the first $10,000, 3% on the remainder
(b) 5% on the first $10,000 and any amount on the remainder
(c) 10% on the first $10,000, 5% on the remainder
(d) 10% on the first $10,000 and any amount on the remainder
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k this deck
25
Who is competent to deed title to real estate?
(a) 17-year-old unmarried student
(b) married 16-year-old
(c) convict under a death sentence
(d) none of the above are competent to deed
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Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
26
If a married person with two children dies intestate and leaves community property, the descendant interest passes to the:
(a) surviving spouse and children
(b) surviving children, and not the surviving spouse
(c) surviving spouse
(d) surviving parents
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Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
27
According to the laws of California, which of the following documents must be recorded to be valid?
(a) land mortgage
(b) grant deed
(c) trust deed
(d) none of the above
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Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
28
When describing or locating a piece of property using the metes and bounds system, which of these would be classified as artificial markers?
(a) rocks
(b) trees
(c) streets
(d) rivers
Unlock Deck
Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
29
When a gift deed is used to transfer title to real property, the deed may be set aside or voided by:
(a) certain debtors of the grantor
(b) no one
(c) certain creditors of the grantor
(d) someone who later purchases the land from the gift deed grantor
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Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
30
A metes and bounds description requires:
(a) a point of beginning
(b) a distance and direction from one point to another
(c) a return to the point of beginning
(d) all of the above
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Unlock Deck
k this deck
31
Mr. and Mrs. Smith were interested in purchasing a vacant lot. However, they first wanted the property surveyed. When the surveyor came out to measure the property he began measuring from the iron spike embedded in the middle of the street. In this case the iron spike would be known as:
(a) a benchmark.
(b) an angular line.
(c) a vara.
(d) a compass.
Unlock Deck
Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
32
Before a deed is recorded, it must be acknowledged by:
(a) the grantee
(b) a notary public
(c) the escrow officer
(d) the grantor
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k this deck
33
Under the United States Government Survey system, a property containing this description includes how many acres? "The S 1/2 of the SE 1/4 of Section 17 and the E 1/2 of the NE 1/4 of Section 23 and the SW 1/4 of the NW 1/4 of Section 21":
(a) 160 acres
(b) 200 acres
(c) 240 acres
(d) 220 acres
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Unlock Deck
k this deck
34
There are implied warranties made by the grantor in a grant deed. Which one of the following is not implied?
(a) property has not been encumbered by grantor except as disclosed
(b) the interest held by grantor is being transferred to the grantee
(c) the grantor holds a certificate of title to the property
(d) the interest being deeded has not been conveyed to others
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Unlock for access to all 69 flashcards in this deck.
Unlock Deck
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35
The County Recorder files deeds according to:
(a) first to record is first to be filed
(b) legal descriptions
(c) grantor-grantee index
(d) the city where the property is located
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Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
36
Real estate law states that in order to be valid, a deed must contain:
(a) a date
(b) a granting clause
(c) the signature of the grantee
(d) evidence of a notary
Unlock Deck
Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
37
Title can be transferred from government to private owners using a:
(a) fiduciary grant
(b) partition grant
(c) public dedication
(d) patent
Unlock Deck
Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
38
A sequential list of owners for a parcel of real estate is called:
(a) constructive notice
(b) chain of title
(c) notarized record
(d) deed of reconveyance
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Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
39
Chang deeds to Lopez and Lopez takes possession but does not record the deed. Chang then tells his friend Jones about the deed to Lopez. Chang then deeds the same property to Jones, who records the deed. Based on this information, title probably vests in:
(a) Lopez
(b) Chang
(c) Jones
(d) both Lopez and Jones
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Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
40
A major railroad company plans to run a line across Kuan's property. If Kuan refuses to give permission, the railroad company can proceed to take action through the use of:
(a) eminent domain
(b) partition action
(c) injunction
(d) writ of execution
Unlock Deck
Unlock for access to all 69 flashcards in this deck.
Unlock Deck
k this deck
41
For a married couple, community property rules include all of the following except:
(a) property acquired by gift after marriage can be separate property
(b) each spouse must will their interest to the surviving spouse if title is held without the right of survivorship
(c) it takes the signature of both spouses to sell community property
(d) each spouse has the equal right to manage community property
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42
A married couple is planning to purchase a home. If they want to take title in such a way as to be able to will their separate interest, they should take title as:
(a) community property, without the right of survivorship
(b) joint tenants
(c) limited partners
(d) any of the above
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43
Interest in real property held by a tenant is called:
(a) freehold estate
(b) fee estate
(c) rental estate
(d) less-than-freehold estate
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44
A valid joint tenancy must have the four unities of:
(a) time, title, interest, remainder
(b) title, time, possession, interest
(c) interest, right, possession, time
(d) time, title, occupancy, possession
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45
Johnson and Moscowitz hold title as tenants in common. Upon Johnson's death, Johnson's interest passes to:
(a) Johnson's heirs without probate
(b) Johnson's heirs with probate
(c) Moscowitz without probate
(d) Moscowitz with probate
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46
Title held as "Elva L. Vargas, an unmarried woman" is an example of:
(a) joint tenancy
(b) tenancy in common
(c) estate in remainder
(d) ownership in severalty
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47
Real estate syndicates usually hold title as:
(a) joint tenants
(b) a limited partnership
(c) a corporation
(d) tenants in common
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48
Mr. Rhu deeds a life estate to Ms. Silva with the stipulation that upon her death the property comes back to him. If Rhu and Silva are killed together in an auto accident, who gets the property?
(a) it escheats to the state
(b) Rhu's heirs and devisees
(c) Silva's heirs
(d) the county where property is located
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49
In which one of the following ways are joint tenancy and tenants in common similar?
(a) title can only be held by husband and wife
(b) both provide the right of survivorship
(c) all owners have the right to will their interest in the property
(d) both carry the right of possession
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50
A deeds to B for the life of C; upon C's death, title passes to D. This is an example of:
(a) an estate in reversion
(b) a grant of a reservation
(c) a less-than-freehold estate
(d) an estate in remainder
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51
Which of the following is not a principal baseline and meridian?
(a) Humboldt
(b) Mount Diablo
(c) Riverside
(d) San Bernardino
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52
The highest form of ownership a person can have in a piece of property is:
(a) fee simple absolute
(b) fee simple qualified
(c) life estate
(d) testate estate
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53
Community property is normally defined as any property acquired by a married person or registered domestic person:
(a) prior to marriage or registration
(b) during marriage or registration
(c) by gift
(d) by inheritance
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54
Assume a brother and sister own title in a commercial property as joint tenants. The brother marries and deeds his interest to himself and his new wife. The sister now holds title in the property as:
(a) community property as to 1/4 interest
(b) ownership in severalty
(c) joint tenant
(d) tenant in common
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55
Susan owned a home prior to marriage to Carlos. Upon marriage, Susan's home:
(a) remains her separate property unless commingled
(b) automatically becomes community property
(c) is converted to joint tenancy
(d) must have a deed recorded showing her married name
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56
Greene deeds a life estate to Blue and upon Blue's death, title passes to Brown. This is an example of what type of life estate?
(a) estate in reversion
(b) estate in reservation
(c) estate in remainder
(d) estate in severalty
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57
Don and June Seaman, father and daughter, purchased real estate as joint tenancy. Don died and left a number of personal debts. If he possessed no money or other property, his creditors could:
(a) place a lien against his daughter's property
(b) obtain no satisfaction against the real estate
(c) sue the daughter for the money
(d) place an attachment against the real estate
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58
When a non-occupying investor and an owner-occupant pool their resources to buy a home, this is called:
(a) equity ownership
(b) equity occupancy
(c) equity sharing
(d) equity investing
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59
If a person took title to real estate as a sole owner, the ownership is called:
(a) ownership in gross
(b) ownership in common
(c) ownership in tenancy
(d) ownership in severalty
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60
Which of the following is not considered concurrent ownership?
(a) As an unmarried person
(b) Community property
(c) As a widow
(d) None of the above
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61
A valuable parcel of land was left to two sisters, Mary and Josephine, as joint tenants. Later on both of them married. Mary was killed in an auto accident, leaving no will. In this situation, Mary's family would acquire:
(a) half interest as a tenant in common with Josephine
(b) one-quarter interest in the property
(c) no interest in the property
(d) half interest as joint tenants with Josephine
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62
Which one of the following is a correct statement regarding tenancy in common?
(a) of the four unities, only the unity of possession is required
(b) the same right of survivorship exists as in joint tenancy
(c) each owner has an equal interest in the property
(d) upon the death of one co-owner, no probate is required
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63
To have a valid joint tenancy, all the owner names must appear on the same document. This is known as the unity of:
(a) time
(b) title
(c) interest
(d) possession
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64
Life estates are created by a:
(a) mortgage.
(b) deed.
(c) trust deed.
(d) both b and c.
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65
Which of the following is not considered to be a characteristic of a fee simple estate?
(a) it is free of all encumbrances
(b) it may be willed
(c) it is transferable
(d) it is of indefinite duration
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66
Richard received a life estate from Isabell, who has no heirs. The estate was granted for the life of Richard. Richard then leased the property to Myron for four years. If Isabell were to die within the next two years, possession of the property would:
(a) go to the probate court
(b) escheat to the State of California
(c) return to Richard
(d) stay with Myron for the duration of the lease or the life of Richard
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67
There are advantages and disadvantages in taking title as a joint tenant. Any person holding title in joint tenancy may dispose of all or a part of his/her interest in all of the following ways, except:
(a) by lease
(b) by gift
(c) by sale
(d) by will
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68
A corporation is not allowed to hold title as:
(a) tenants in partnership
(b) joint tenants
(c) tenants in common
(d) joint venture
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69
Joint tenancy has certain special characteristics. Which of these is considered to be the most important?
(a) the right to will
(b) the right of survivorship
(c) the right to encumber
(d) the right to an undivided interest
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Unlock Deck
Unlock for access to all 69 flashcards in this deck.