6.5: Estates and Methods of Holding Title

Question 1

T or F: The right of survivorship is present in tenancy in common

Answer 1

False

Question 2

What is less-than a freehold estate?

Answer 2

Leasehold estate

Question 3

The single most important characteristic of joint tenancy is:

Answer 3

Right of survivorship

Question 4

It is impossible for a corporation to legally hold title as a:

Answer 4

Joint tenant (because of right of survivorship)

Question 5

Which of the following is not one of the four unities of joint tenancy?

Answer 5

Security

Question 6

A deeds a life estate to B; upon B’s death, title is to pass to C. This is an example of a:

Answer 6

Remainder estate

Question 7

The term “fee simple defeasible” is described in which statement?

Answer 7

Owner holds a title subject to deed restrictions

Question 8

Smith and Dang are joint tenants; Dang sells his half of the property to Brown. Brown will take title with Smith as:

Answer 8

Tenant in common

Question 9

Community property is defined as property acquired by married spouses or registered domestic partners:

Answer 9

After marriage or domestic registration

Question 10

Real estate syndicates usually hold title to property as:

Answer 10

A limited partnership

Question 11

Freehold estates are sometimes called estates of

Answer 11

Inheritance

Question 12

Ownership is severalty refers to holing title as:

Answer 12

An individual

Question 13

Garcia owned a life estate in a property: Garcia leased the property to Williams for five years. Two years later, Garcia died. The lease is:

Answer 13

Canceled and invalid upon Garcia’s death

Question 14

A, B, and C are joint tenants, and they hold title to the NW 1/4 of section 24 in some township. C deeds her interest to D. This means:

Answer 14

D owns a 1/3rd interest in 160 acres

Question 15

In California, without any evidence to the contrary, married spouses or registered domestic partners are presumed to hold title as:

Answer 15

Community property

Question 16

To be valid, all owners must have equal shares, except for:

Answer 16

Tenants in common

Question 17

For a married person or registered domestic partner, which of the following is most likely to be separate property? Real estate recently acquired by:

Answer 17

Severalty (one)

Question 18

Which real estate owner is usually considered to be liable only for the amount of invested capital, not the owner’s personal assets?

Answer 18

Limited partner

Question 19

Regarding the best method for buyers to hold title:

Answer 19

Buyers should seek advice from their attorneys