Chapter 3 fee simple Flashcards
Which of the following statements about the fee simple estate are true?
A. The fee simple is a type of leasehold estate.
B. If a fee simple owner dies without a will the property will escheat to the crown.
C. The term fee simple indicates an estate that can be inherited without qualification.
D. The fee simple estate was created by the Torrens system of registration.
(1) Only B and C are true.
(2) Only A and C are true.
(3) Only C is true.
(4) Only A and D are true.
3
The greatest bundle of rights and responsibilities that an individual can hold with respect to land is:
(1) a fee simple interest.
(2) a 99-year lease.
(3) an easement.
(4) none of the above
1
anton holds a life estate pur autre vie based on Bentley’s life. Charles has the remainder interest in fee simple. Anton’s interest will terminate when:
(1) Anton dies.
(2) Bentley dies.
(3) Charles dies.
(4) all three men die.
2
Which of the following is NOT a characteristic of a fee simple estate?
(1) it is held subject to the Crown’s land use regulations
(2) it may be expropriated by the Crown
(3) it is a leasehold interest
(4) it is held subject to other individuals’ common law rights
3
The owner of an interest in real property which is located in British Columbia always has:
(1) a fee simple interest.
(2) the right to use his property in any way he/she chooses.
(3) at least a 99-year lease from the Crown.
(4) common law rights as modified by legislation.
1
Which of the following statements about the fee simple estate are TRUE?
A. The term “fee” means that the rights exercisable by the holder of a fee simple estate have been acquired by a payment of money.
B. Where the owner of a fee simple estate dies without a will, the property will “escheat” to the Crown.
C. Where the owner of a fee simple estate creates a life estate in that property in favour of some person, the fee simple estate will cease to exist.
D. A fee simple estate is an estate which is held for a limited period of time.
(1) B and C are true.
(2) B and D are true.
(3) None of the above are true.
(4) A is true.
3
The term “fee simple”
A. refers to a type of estate in land.
B. indicates something less than absolute ownership of land.
C. describes an unencumbered or clear title to land.
D. was abolished by the Land Title Act.
Which of the above statements are TRUE?
(1) A and B are true.
(2) Only A is true.
(3) A and C are true.
(4) All of the above are true.
1
robert is dying of a terminal illness. He therefore arranges for his wife Elaine to have a life estate with respect to his ancestral home with the fee simple to go to his daughter Whitney once Elaine dies.
Whitney’s interest is that of a:
(1) reversioner
(2) remainderman
(3) rectification
(4) none of the above
2
A building scheme is a special example of a group of restrictive covenants attaching to two or more lots within a particular development plan. Which of the following statements concerning building schemes is FALSE?
(1) The original purchasers must receive their fee simple title from the same seller.
(2) The seller must have intended the restrictions to bind each lot.
(3) Buyers must negotiate any exemptions from the application of the building scheme individually prior to purchase.
(4) The restrictions must apply equally to all the individual lots and be consistent with a general scheme of development.
3
the term fee simple;
- indicates something less than absolute ownership of land
- describes an unencumbered or clear title to land
- was abolished by the land title act
- refers to an interest in the land that does not amount to an estate
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