Chapter 7 True/False

Question 1

Under Wisconsin’s homestead law, both spouses must sign a deed before title to a homestead can be transferred.

True
False

Answer 1

True: This law protects a spouse from the mortgage, sale and transfer of title of the homestead property by the other spouse without the spouse’s knowledge.

Question 2

A, B, and C hold title as joint tenants. C sells his portion to M. M will take title as a joint tenant with A and B.

True
False

Answer 2

False: M would take title as a tenant in common because total unity would not exist with M and the other owners.

Question 3

The condominium unit is intended for individual use, and the owner is entitled to exclusive ownership and possession of the unit.

True
False

Answer 3

True: The unit owner can use the unit as defined by the condominium declaration and plat.

Question 4

An advantage to owning a limited common element is that maintenance responsibilities are likely to be assigned to the association.

True
False

Answer 4

True: Limited common elements are owned by everyone but limited to certain owner’s use. Examples of limited common elements include patios, garages, parking spaces or boat slips.

Question 5

A married couple in Wisconsin owned property prior to January 1, 1986. They are now getting a divorce. The property owned prior to January 1, 1986, will be treated differently in the divorce than the property obtained after January 1, 1986.

True
False

Answer 5

False: Property owned by a married couple prior to January 1, 1986, will be treated as marital property in the event of divorce.

Question 6

A property is held in joint tenancy unless a deed states otherwise.

True
False

Answer 6

False: A joint tenancy can only be created by will or deed. If nothing is mentioned in the deed as to how the owners are taking title, the law will assume the owners will be tenants in common.

Question 7

Co-owners who hold title to a property as tenants in common can have unequal interest in title.

True
False

Answer 7

True: Tenants in common may own fractional interests in the property.

Question 8

A freehold estate in land lasts for an unlimited duration and is a real property interest.

True
False

Answer 8

True: The owner of a freehold estate maintains the legal bundle of rights until they choose to sell the property, transfer it to another party as a gift, or die and will the property away to heirs.

Question 9

All unit owners in a condominium will have an equal percentage interest in the common elements.

True
False

Answer 9

False: Condominium declarations may establish percentage interests that are equal for all of the units, or they can be based in proportion to the square footage of the respective units, based upon the location or value of the different units, or based upon some other formula stated in the declaration.

Question 10

Co-owners who hold title to a property as tenants in common do not automatically receive title upon the death of another owner.

True
False

Answer 10

True: Property of a co-owner who holds title as a tenant in common will pass to that owner’s designated heirs upon death.

Question 11

A property owner who accepts a security deposit must give a tenant at least seven days from the start of the tenancy to inspect the unit for pre-existing damages.

True
False

Answer 11

True: Tenants also have seven days to request a list of physical damages or defects, if any, charged to the previous tenant’s security deposit.

Question 12

A leasehold estate will terminate upon the death of either the property owner or the tenant.

True
False

Answer 12

False: Because a lease is a personal property interest in land, the leasehold estate stays in place beyond the death of the lessor or lessee.

Question 13

The right of quiet enjoyment mandates that all property owners have the right to peace and quiet.

True
False

Answer 13

False: The right of quiet enjoyment is the right for a landowner to have uninterrupted use of the property without interference from former owners or tenants.

Question 14

All marital property will pass to the surviving spouse without probate.

True
False

Answer 14

False: Property held as survivorship marital property transfers to the surviving spouse without probate. Other marital property becomes part of the estate of the deceased spouse and may be distributed pursuant to the will of the deceased spouse.

Question 15

Both the property owner and the tenant are required to make certain improvements during the term of all leases.

True
False

Answer 15

False: Neither the property owner nor the tenant is required to make any improvements to the property unless specifically stated in the terms of the lease.

Question 16

Trade fixtures are the real property of the tenant.

True
False

Answer 16

False: Trade fixtures are the personal property of the tenant.

Question 17

The highest form of ownership is the fee simple defeasible estate in land.

True
False

Answer 17

False: The highest form of ownership is the fee simple absolute estate in land.

Question 18

A tenant signs a lease agreeing to clean the carpets at the end of the lease term. Upon surrender of the premises, the tenant does not clean the carpets. The property owner may withhold money from the tenant’s security deposit to pay for carpet cleaning.

True
False

Answer 18

False: Wisconsin law does not authorize a property owner to withhold a security deposit for normal wear and tear, of for other damages or losses for which the tenant cannot reasonably be held responsible under applicable law.

Question 19

A leasehold estate is a personal property interest.

True
False

Answer 19

True: When a property owner and tenant enter into a lease, the rights of exclusion, possession, quiet enjoyment and control pass to the tenant while the property owner retains a reversionary interest.

Question 20

A mobile home on rented property is personal property.

True
False

Answer 20

True: A mobile home is personal property unless it is on a permanent foundation, attached to utilities, and on land owned by the mobile home owner.

Question 21

A co-owner who holds title to a property as a tenant in common must receive consent from the other owners prior to selling their ownership interest in a property.

True
False

Answer 21

False: Under a tenancy in common, an owner can sell the owner’s interest without the consent of the other owners.

Question 22

A joint tenant cannot file a partition suit against the other owners.

True
False

Answer 22

False: Under both a tenancy in common and a joint tenancy, the co-owners can file a partition suit to dissolve the tenancy.

Question 23

Co-owners who hold title to a property as tenants in common hold their individual interests in severalty.

True
False

Answer 23

True: Each tenant in common owner has the ability to control their ownership interest.

Question 24

Co-owners who hold title to a property as tenants in common receive title without probate if a co-owner dies.

True
False

Answer 24

False: Under a joint tenancy, there is a right of survivorship. This meant that the surviving owners automatically get the deceased owner’s interest.

Question 25

A married couple in Wisconsin is selling their primary residence. Only one spouse needs to sign the offer.

True
False

Answer 25

False: Wisconsin’s homestead law requires that signatures of both spouses in order to transfer title.