chapter 2

Question 1

fee simple absolute/ Fee/ Fee simple

Answer 1

the highest type of estate and includes complete ownership inheritable by heirs. It is potentially of infinite duration and is without limitation

Question 2

fee upon condition

Answer 2

a type of estate with a condition which if violated, gives the former owner the right, but not automatically, to reclaim the estate.

Question 3

fee simple determinable

Answer 3

a type of estate with the condition which, if violated, reverts Automatically to the former owner or their heirs

Question 4

life estate

Answer 4

an estate whose duration is limited to the life of the party holding it and may NOT be inherited

Question 5

remainder

Answer 5

an estate created at the same time as another, but limited to begin upon the termination of the other companion estate

Question 6

dower and curtesy

Answer 6

rights which a surviving spouse has in the real estate of the deceased house who held the title as an individual each is entitled to hold for life 1/3 of all land owned by the deceased spouse at time of death

Question 7

joint tenancy

Answer 7

property held by two or more persons with each having the right to assume full title upon the death of the other

Question 8

tenancy by the entirety

Answer 8

ownership by husband and wife where if one dies, the survivor owns the property without probate

Question 9

tenancy in partnership

Answer 9

an agreement between two or more co-owners to conduct a business for profit. Property held in the name of the partnership may be conveyed only with consent of all partners.

Question 10

community property

Answer 10

property acquired while married. Upon death , surviving spouse automatically owns 1/2 of property while the other half being distributed according to will

Question 11

creation and transfer of estates

Answer 11

deed, will or inheritance, adverse possession, eminent domain, escheat, and foreclosure

Question 12

limitation on estates

Answer 12

mortgages, taxes, assessments, betterments, mechanic’s liens, vendee’s lien, vendor’s lien attachments,judgements, decedents debt lien

Question 13

municipal lien certificate

Answer 13

A certificate obtained from Tax Collector of a municipality to ascertain status of real taxes, water, sewer, etc. on a property. required at time of conveyance. buyer’s attorney is responsible to see that property to be conveyed is free from liens in both the appropriate registry of deeds and local tax collectors office

Question 14

accretion

Answer 14

the addition of portions of soil by gradual deposit through the operation of nature

Question 15

alluvian

Answer 15

the natural increase in earth at the shore or mouth of a bank or a stream which is so gradual as to be unnoticeable

Question 16

free hold estate

Answer 16

duration is indefinite

Question 17

estates consider

Answer 17

the amount and duration of property rights

Question 18

title to most residential real estate in this state is held as

Answer 18

tenancy by the entirety

Question 19

a husband or wife may not convey any part of realty without having the spouse join in the deed of

Answer 19

tenancy by the entirety

Question 20

a municipal lien certificate is required at

Answer 20

time of conveyance

Question 21

a municipal lien certificate would be obtained from

Answer 21

the local tax collector