Chap 8

Question 1

A tenancy at will is a lease agreement that that has no specific ____?

A. fee
B. end date
C. constraints
D. reversion

Answer 1

B. End date

Question 2

A _____is an estate that is limited in duration to the life of its owner or the life of some other designated person.

A. Life estate
B. Remainder estate
C. estate in reversion
D. non freehold estate

Answer 2

life estate

Question 3

The most comprehensive freehold estate that is inheritable is ___.

Answer 3

fee simple

Question 4

A tenancy _______ is created when a tenant holds over after the lease period has ended.

Answer 4

at sufferance

Question 5

A life estate that provides for the property to return to the grantor is an _______

Answer 5

estate in reversion.

Question 6

The gradual loss of land associated with moving water and/or wind is called

A)
riparian.
 B)
erosion.
 C)
reliction.
 D)
accretion.

Answer 6

Erosion

Question 7

A man owns a condominium for his lifetime. Upon his death, the property will convey to his sister. What type of estate does the sister hold during the man’s lifetime?

A)
Remainder estate
 B)
Devisee
 C)
Life estate
 D)
Dower

Answer 7

remainder The answer is remainder estate. When a life estate ends, the property sometimes reverts to a third party, called a remainderman. The estate held by the third party is called a remainder estate.

Question 8

Which criteria is NOT used to determine whether something is real or personal property?

A)
Cost of the item
 B)
Relationship of the parties
 C)
Method or degree of attachment
 D)
Intent of the parties

Answer 8

cost of item

Question 9

Which term describes the process of land buildup from water-borne rock, sand, and soil?

A)
Reliction
 B)
Accretion
 C)
Alluvion
 D)
Erosion

Answer 9

accretion

Question 10

Which action can result in the foreclosure of a homesteaded property?

A)
Unpaid medical expenses
 B)
Unpaid gambling debt
 C)
Judgment lien resulting from a lawsuit related to an automobile accident
 D)
Delinquent property taxes on the homesteaded property

Answer 10

D. delinquent property taxes on the homestead property

Question 11

A proprietary lease is associated with a

A)
time-share.
 B)
cooperative.
 C)
tenancy in common.
 D)
tenancy for years.

Answer 11

The answer is cooperative. The purchase of stock in a cooperative entitles the purchaser to a proprietary lease and the right to occupy a unit.

Question 12

A developer who builds and sells new condominium units must allow buyers the opportunity to cancel the purchase agreement within how many days of signing the contract?

A)
5
 B)
15
 C)
3
 D)
10

Answer 12

15

Question 13

Title to real property does NOT convey in which type of estate?

A)
Estate for years
 B)
Estate in severalty
 C)
Life estate
 D)
Freehold estate

Answer 13

The answer is estate for years. An estate for years is a leasehold estate that is created by a written lease agreement. An estate for years establishes an interest in real property for the tenant (right to use, possession, and exclusion) but does not convey actual title (or ownership).

Question 14

How many days’ notice must be given to terminate a month-to-month tenancy?

A)
15
 B)
10
 C)
30
 D)
5

Answer 14

15

Question 15

Three individuals want to develop and sell a parcel of land. Each of the individuals has a spouse and children. The three individuals want to take title to the property in such a way that an owner’s family would inherit part of the property if that property owner died. How should the individuals take title to the land?

A)
Joint tenants
 B)
Separate property
 C)
Designated beneficiary estate
 D)
Tenants in common

Answer 15

tenants in common

Question 16

Property held as a tenancy by the entireties becomes which type of estate in the event of divorce?

A)
Life estate
 B)
Post-marital tenancy
 C)
Tenancy in common
 D)
Separate estate

Answer 16

The answer is tenancy in common. In the event of a divorce, the tenancy by the entireties is ended and a tenancy in common results.

Question 17

A tenant, after rightfully being in possession of a rented premises, without the consent of the owner, continues possession. This situation creates

A)
a tenancy at will.
 B)
an estate for years.
 C)
a fee simple estate.
 D)
a tenancy at sufferance.

Answer 17

The answer is a tenancy at sufferance. A tenancy at sufferance occurs when a tenant stays in possession of a property beyond the ending date of a legal tenancy, without the consent of the landlord.