Chapter 5 How Home Ownership Is Held

Question 1

An entity create it for the benefit of another, is also called

Answer 1

A trust

Question 2

Ownership of real estate by two or more entities in the undivided interest

Answer 2

Tenancy in common

Question 3

A business venture owned by one individual

Answer 3

Soul proprietorship

Question 4

A business venture created with an agreement between more than one person

Answer 4

Partnership

Question 5

Hey soul, individual or entity who owns real estate

Answer 5

Estate in severalty

Question 6

What are the three ways that Texas real estate can be held?

Answer 6

Estate in severalty, coownership, and trust

Question 7

What is the most common type of co-ownership?

Answer 7

Tenancy in common

Question 8

What is the least popular type of ownership?

Answer 8

Joint tenancy

Question 9

In order to create a joint tenancy 4 unities are required:

Answer 9

Time, title, interest, possession

Question 10

True or false joint tenancy is not in the state of inheritance

Answer 10

True

Question 11

What is also considered a poor man’s will

Answer 11

Joint tenancy

Question 12

What is a concept a Spanish law were marriage is regarded as a partnership rather than a husband and wife becoming one

Answer 12

Community property

Question 13

An entity created for the benefit of another

Answer 13

Trust

Question 14

What is another word for interval ownership?

Answer 14

Time Share

Question 15

A property is owned by two unmarried individuals. With our right of survivorship. The form of ownership is most likely.

Answer 15

Tenancy in common

Question 16

Three coworkers with tenancy in common ownership, wish to divide there undivided interest in a property to individually on tracts of land with a __________ of the property

Answer 16

Partition