Chapter 1 Review Flashcards
The term property refers to:
The rights or interests in the thing owned
Which of the following is considered real property?
Airspace above the land
Which of the following is considered personal property?
Leasehold hold estates
Which of the following is considered personal property?
Emblements
The highest quality and quantity of ownership is real property is:
Fee simple
Which test is not a general tests of a fixture?
Time of attachment
Which of the following is a less-than-freehold estate?
Estate for years
A uncle left his nephew 2/3 interests and left his nephews wife 1/3 interest in real property jointly and without the right of survivorship. The nephew and his wife will assume titleholder nest ate that is classified as:
Tenancy in common
Ownership is severalty wold most likely involve:
Sole ownership
The words time, title, interest, and possession are most closely related to the concept of:
Joint tenancy
If a landowner deeds land to a Hospital but specifies that it may only be used for a hospital, this would be a:
Defeasible estate
The title to chattels, personalty, and personal property is transferred by a:
Bill of sale
Concerning real property,in which way are joint tenancy interest and community property similar:
Ownership interests are equal
Kris,Dan, and Alex took title to a property as joint tenants. Kris sold her share to Pat, and then Dan died. Who owns the property?
Alex owns 2/3 and Pat owns 1/3 as tenants in common
