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chap 4 Flashcards

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1
Q

Fee Simple Determinable –

A

An estate that will end automatically when the stated event or condition occurs. The interest will revert to the grantor or the heirs of the grantor.

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2
Q

Fee Simple on Condition

A

– A defeasible fee (title), recognizable by words ‘but if’.

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3
Q

Life Estate –

A

A freehold estate created for the duration of the life or lives of certain named persons; a non-inheritable estate.

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4
Q

Grantor –

A

A person who conveys title to real property by deed.

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5
Q

Leasehold Estate –

A

Non-freehold estate; of limited duration, providing the right of possession and control but not title.

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6
Q

Estate in Reversion –

A

Property or estate ownership that reverts back to the grantor after a temporary ownership period.

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7
Q

Estate in Remainder –.

A

An estate which vests after the termination of the prior estate

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8
Q

Estate for Years –

A

A leasehold estate for any specific period of time. An estate for years is not automatically renewed.

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9
Q

Periodic Tenancy –

A

A lease that automatically renews for successive periods unless terminated by either party; also called estate from year to year.

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10
Q

Estate at Will –

A

A leasehold estate that may be terminated at the desire of either party.

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11
Q

Estate at Sufferance –

A

Continuing to occupy property after lawful authorization has expired; a form of leasehold estate.

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12
Q

Lease –

A

A contract whereby, for a consideration, usually termed rent, one who is entitled to the possession of real property transfers such rights to another for life, for a term of years, or at will.

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13
Q

Lessor

A

– One who rents property to another under a lease.

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14
Q

Lessee –

A

A person to whom property is rented under a lease.

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15
Q

Covenants –

A

Agreements written into deeds and other instruments promising performance or nonperformance of certain acts, or stipulating certain uses or non-uses of the property.

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16
Q

Constructive Eviction –

A

Any disturbance of the tenant’s possession of the leased premises by the landlord whereby the premises are rendered unfit or unsuitable for the purpose for which they were leased.

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17
Q

Tort Liability –

A

A legal obligation of one party to a victim as a result of a civil wrong or injury.

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18
Q

Eviction –

A

A legal proceeding by a lessor landlord to recover possession of real property.

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19
Q

Joint Tenancy

A
  • Undivided ownership of a property interest by two or more persons each of whom has a right to an equal share in the interest and a right of survivorship, i.e., the right to share equally with other surviving joint tenants in the interest of a deceased joint tenant.
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20
Q

Tenancy in Common

A

– An ownership of realty by two or more persons, each of whom has an undivided interest, without the “right of survivorship”.

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21
Q

Condominium –

A

Five or more units where in the owner has a fee simple interest in the air space, or four walls in which they live or occupy, plus common areas which are owned as a tenancy in common.

22
Q

Ownership in Severalty –

A

Title to real property held in the name of only one person.

23
Q 
The degree, quantity, nature, and extent of interest that a person has in real and personal property is known as...?
A Estate
B Life Estate
C Estate at Will
D Estate at Sufferance
A

Estate

24
Q 
Absolute ownership of real property is also known as...?
A Fee Simple Estate
B Leasehold Estate
C Life Estate
D Fee Simple Determinable
A

Fee Simple Estate

25
Q 
A leasehold estate for any specific period of time is known as...?
A Periodic Tenancy
B Estate for Years
C Estate at Will
D Estate at Sufferance
A

Estate for Years

26
Q

An estate for years is NOT automatically renewed…?
AT (True)
BF (False)

A

true

27
Q 
A lease that automatically renews for successive periods unless terminated by either party is also known as...?
A Periodic Tenancy
B Estate for Years
C Estate at Will
D Estate at Sufferance
A

Periodic Tenancy

28
Q

Periodic tenancy is also referred to as an estate from year to year…?
AT (True)
BF (False)

A

true

29
Q 
A leasehold estate that may be terminated at the desire of either party is known as...?
A Estate for Years
B Estate at Sufferance
C  Periodic Tenancy
D Estate at Will
A

Estate at Will

30
Q 
Continuing to occupy property after lawful authorization has expired is known as...?
A Estate for Years
B Estate at Sufferance
C Periodic Tenancy
D Estate at Will
A

Estate at Sufferance

31
Q 
This is a contract whereby, for a consideration, usually termed rent, one who is entitled to the possession of real property transfers such rights to another for life, for a term of years, or at will...?
A Lease
B Deed
C Estate for Years
D Estate at Sufferance
A

Lease

32
Q 
One who rents property to another under a lease is referred to as the...?
A Tenant
B Lessor
C Lessee
D Customer
A

Lessor

33
Q 
A person to whom property is rented under a lease is referred to as the...?
A Lessor
B Landlord
C Customer
D Lessee
A

Lessee

34
Q 
Any disturbance of the tenant’s possession of the leased premises by the landlord whereby the premises are rendered unfit or unsuitable for the purpose for which they were leased is known as...?
A Constructive Eviction
B Notice
C Eminent Domain
D Condemnation
A

A Constructive Eviction

35
Q 
An inheritable estate in land providing the greatest interest of any form of title is known as...?
A Fee Simple Determinable
B Fee Simple Absolute
C Life Estate
D Leasehold Estate
A

Fee Simple Absolute

36
Q 
Which of the following is an example of a leasehold estate...?
A Estate at Will
B Periodic Tenancy
C Estate for Years
D All of the above
A

all of the above

37
Q 
A legal obligation of one party to a victim as a result of a civil wrong or injury is referred to as...?
A Tort Liability
B Eminent Domain
C Eviction
D Condemnation
A

Tort Liability

38
Q 
A legal proceeding by a lessor landlord to recover possession of real property is known as...?
A Tort
B Eminent Domain
C Eviction
D Condemnation
A

Eviction

39
Q

Leases under one year MUST be in writing…?
AT (True)
BF (False)

A

false

40
Q

There are two primary types of estates, freehold estate and leasehold estates…?
AT (True)
BF (False)

A

true

41
Q 
Undivided ownership of a property interest by two or more persons each of whom has a right to an equal share in the interest and a right of survivorship is known as...?
A Tenancy in Common
B Estate at Will
C Ownership in Severalty
D Joint Tenancy
A

joint tenancy

42
Q 
An ownership of realty by two or more persons, each of whom has an undivided interest, without the right of survivorship is known as...?
A Joint Tenancy
B Tenancy in Common
C Ownership in Severalty
D Estate at Will
A

Tenancy in Common

43
Q 
This includes five or more units wherein the owner has a fee simple interest in the air space, or four walls in which they live or occupy, plus common areas which are owned as a tenancy in common...?
A Condominium
B Mixed-use
C Cooperative
D Multi-family property
A

condominium

44
Q 
Title to real property held in the name of only one person is known as...?
A Joint Tenancy
B Ownership in Severalty
C Tenancy in Common
D Deed
A

Ownership in Severalty

45
Q

A condominium is considered real property…?
AT (True)
BF (False)

A

true

46
Q 
An estate that will end automatically when the stated event or condition occurs is known as...?
A Estate in Remainder
B Leasehold Estate
C Life Estate
D Fee Simple Determinable
A

Fee Simple Determinable

47
Q 
A freehold estate created for the duration of the life or lives of certain named persons is known as a...?
A Fee Simple Estate
B Leasehold Estate
C Life Estate
D Estate in Remainder
A

Life Estate

48
Q 
A person who conveys title to real property by deed is known as the...?
A Grantor
B Executor
C Estate
D Grantee
A

grantor

49
Q 
A non-freehold estate of limited duration, providing the right of possession and control but not title is referred to as a...?
A Freehold Estate
B Leasehold Estate
C Estate in Remainder
D Life Estate
A

Leasehold Estate

50
Q 
Property or estate ownership that reverts back to the grantor after a temporary ownership period is known as...?
A Leasehold Estate
B Estate in Reversion
C Life Estate
D Estate in Remainder
A

estate in reversion

51
Q 
An estate which vests after the termination of the prior estate is known as...?
A Life Estate
B Estate in Reversion
C Estate in Remainder
D Leasehold Estate
A

estate in remainder

52
Q 
A person who receives title to real property by deed is known as the...?
A Grantee
B Estate
C Grantor
D Executor
A

grantee

chp 4 (1 decks)

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