Chapter 2 Quiz Flashcards
Jason owned the fee Simple title to a vacant lot adjacent to a hospital and was persuaded to make a gift of the lot. He had his attorney prepare a deed that conveyed the ownership of the lot to the hospital “so long as it is used for medical purposes.” After the completion of the gift, the hospital will own the lot as a:
Life estate
Tenancy for years
Fee simple determinable
Periodic tenancy
Fee simple determinable
If the owner of the dominant tenement becomes the owner of the servient tenement and merges the two properties:
The easement becomes dormant
The easement is unaffected
The easement is terminated
The properties retain their former status
The easement is terminated
The rights of the owner of a property located along the banks of a river are called:
Littoral rights
Prior appropriation rights
Riparian rights
Hereditaments
Riparian rights
Which of the following has an indefinite duration?
Freehold estate
Less-than-freehold estate
Estate for years
License
Freehold estate
Suzy owns an apartment building and will grant a life estate to the nursing home to pay for her father’s care. The nursing home will remain the life tenant as long as Suzy’s father is alive. Upon the death of Suzy’s father the apartment building will revert to Suzy. What type of life estate does the nursing home have?
License
Life estate pur autre vie
Legal life estate
Ordinary life estate
Life estate pur autre vie
Mrs. Destiny conveys a life estate to her grandson and stipulates that upon her death the estate will pass to her son-in-law. The son-in-law has a(n):
Estate in reversion
Estate in remainder
Estate for years
legal life estate
Estate in remainder
All of the following are powers of the government EXCEPT:
Easement in gross
Police power
Eminent domain
Taxation
Easement in gross
Mark wants to use water from a river that runs through his property to irrigate a potato field. To do so, Mark is required by his state’s law to submit an application to the Department of Water Resources describing in detail the beneficial use he plans for the water. If the department approves Mark’s application, he will receive a permit to divert a limited amount of river water into his field. Based on these facts, it can be assumed that Mark’s state relies on which of the following rules of law?
Common law riparian rights
Common law littoral rights
Doctrine of prior appropriation
Doctrine of highest and best use
Doctrine of prior appropriation
An ownership interest that is based on annual occupancy intervals is a:
Leasehold
Time share
Condominium
Cooperative
Time share
Eric lives in an apartment building. A corporation owns the land and structures, with one mortgage loan covering the entire property. Like the other residents, Eric owns stock in the corporation and has a lease to his apartment. This type of ownership is called a:
Condominium
Planned unit development
Time share
Cooperative
Cooperative
Ralph, Rich and Edgar are joint tenants owning a parcel of land. Edgar conveys his interest to his longtime friend Sam. After the conveyance, Ralph and Rich:
Become tenants in common
Continue to be joint tenants with Edgar
Become joint tenants with Sam
Remain joint tenants owning a two-thirds interest
Remain joint tenants owning a two-thirds interest
Equal rights of possession are characteristic in all of the following EXCEPT:
Tenancy in common
Tenancy at will
Tenancy by the entirety
Joint tenancy
Tenancy at will
To create a joint tenancy relationship in the ownership of real estate, there must be unities of:
Grantees, ownership, claim of right, and possession
Title, interest, encumbrance, and survivorship
Possession, time, interest, and title
Ownership, possession, heirs, and title
Possession, time, interest, and title
The owner of a condominium unit learns that a neighbor has failed to pay his real estate taxes. If this neighbor does not pay the taxes:
A lien can be filed against the condominium, Including all of the units
A lien can be filed against the neighbor’s unit and his percentage of the common elements
A lien can be filed only against the common areas of the condominium
The taxing authority can order the condominium to be dissolved
A lien can be filed against the neighbor’s unit and his percentage of the common elements
All of the following are true statements about a condominium EXCEPT:
A declaration must be filed before any units may be sold
Each unit owner has a fractional undivided Interest in the common elements
Each owner receives a separate real estate tax statement
Each owner has a proprietary lease with the association of his or her own unit
Each owner has a proprietary lease with the association of his or her own unit
Jim purchases an interest in a house in Beachfront. Jim is entitled to the right of possession only between July 10 and August 4 of each year. Which of the following is most likely the type of ownership purchased?
Cooperative
Time share estate
Time share use
Life estate
Time share use
Which of the following best proves one’s right to live in a cooperative?
Tax bill for the individual unit
Existence of a reverter clause
Shareholder’s stock certificate
Right of first refusal
Shareholder’s stock certificate
Ben and Cheri held title to an apartment building as joint tenants with rights of survivorship. Ben and Cheri had an argument, and Ben didn’t like the possibility that Cheri would acquire total ownership of the building if Ben died. Therefore, Ben executed a deed to himself as a tenant in common and later willed his interest to Jenna. If this occurred in Illinois, which of the following statements accurately describes Ben’s action?
Ben’s action is illegal under Illinois law
While not necessary illegal, Ben’s action has no effect on the joint tenancy
Ben’s goal of severing-the joint tenancy can be accomplished only by a partition suit
Ben’s action legally severs the joint tenancy
Ben’s action legally severs the joint tenancy
If the owner of real estate does not take action against a persistent trespasser before the statutory period has passed, the trespasser may acquire:
An easement by necessity
A license
Title by eminent domain
An easement by prescription
An easement by prescription
A person who has complete control over a parcel of real estate would MOST LIKELY own:
leasehold estate.
fee simple estate.
life estate.
defeasible fee estate.
fee simple estate.