Chapter 2 Quiz Interests and Estates Flashcards
Which of the following rights is conveyed with a leasehold estate?
The right to exclude everyone from the premises
The right to encumber the fee interest
The right to sell the premises
The right to possess and use the premises
The right to possess and use the premises
What is “escheat?”
The principle that gives governments the right to levy real estate taxes.
The process by which a squatter can obtain legal title to real estate.
The process by which a municipality condemns land and takes it for public use.
The process by which ownership of real estate reverts to the state when there are no legal owners
The process by which ownership of real estate reverts to the state when there are no legal owners
What is the difference between a fee simple determinable estate and a fee simple condition subsequent estate?
There is no reversion of ownership in determinable estate.
There is no reversion of ownership in condition subsequent estate.
Reversion of ownership is automatic in the determinable estate.
Reversion of ownership is automatic in the condition subsequent estate.
Reversion of ownership is automatic in the determinable estate.
If a tenant occupies a leased property without the consent of the landlord after a lease expires, the type of estate that results is called
an estate at sufferance.
a holdover estate.
an adverse leasehold.
a hostile leasehold.
an estate at sufferance.
An actor rented a house from May 15 to August 5 while she was working on location. What kind of estate does she hold?
Tenancy from period to period
Estate at will
Estate for years
Freehold estate
Estate for years
If a party has an interest in real estate that includes the right of possession, the party owns
an encumbrance.
a fractional part of an estate.
an enjoinment.
an estate in land
an estate in land
Encumbrances are examples of
illegal interests.
eminent domain.
public interests.
private interests.
private interests.
In what kind of estate does ownership revert to the grantor of the estate if usage fails to conform to a stated condition in the grant?
Fee simple absolute
Life estate with reversion
Life estate with condition subsequent
Fee simple defeasible
Fee simple defeasible
Two people own a house, each having an undivided equal interest. Which of the following best describes what they own?
Each owns fifty percent of the physical house and the land it rests on.
Each owns one hundred percent of the physical house and the land it rests on.
Each owns fifty percent of the estate represented by the real property, but no physical portion of the real property.
Each owns one hundred percent of the estate represented by the real property and fifty percent of the physical house and the land it rests on.
Each owns fifty percent of the estate represented by the real property, but no physical portion of the real property.
How does a legal life estate differ from a conventional life estate?
The legal life estate is created by a grant, while the conventional estate is created by custom.
The legal life estate is created by statute while the conventional life estate is created by a grant.
The conventional life estate focuses on protecting the rights of surviving family members while the legal life estate focuses on laws of descent.
The conventional life estate does not have to be described in a written document, while the legal life estate does.
The legal life estate is created by statute while the conventional life estate is created by a grant.
Homestead, dower and curtesy, and elective share are examples of
a conventional life estate.
a legal life estate.
an estate created by an owner’s agreement.
a fee simple absolute.
a legal life estate.
A life estate is classified as which of the following?
An estate in fee simple
A freehold estate
A defensible fee
An estate for years
A freehold estate
Ownership of which of the following is used to define an “interest in real estate?”
Deed
The bundle of rights
Acreage
Attachment
The bundle of rights
Which of the following actions is an expression of the public interest known as police power?
Enforcing of parking regulations on residential streets
Passage of zoning ordinances to control land use
Leasing of office space for government use
Collection of sales tax on purchases of consumer good
Passage of zoning ordinances to control land use
Which of the following rights, if any, is NOT included in a fee simple absolute estate?
Conduct any and all activities without restriction
Give away
Grant an easement
Exclude others
Conduct any and all activities without restriction
