Estate

Question 1

A freehold estate consist of :
A An estate at will
B Month to month estate
C A lease
D A fee estate

Answer 1

A fee estate

Question 2

A perpetual estate would be:
A Non-freehold estate
B Fee simple
C Fee simple defeasible
D Qualified fee simple

Answer 2

Fee simple

Question 3

Which of the following is a freehold estate:
A A lease hold
B A life estate
C An estate at will
D A sandwich lease

Answer 3

A life estate

Question 4

Mr. Arthurian granted a property to Macy with a condition not to drink alcobol beverages. Macy’s ownership is now describe as:
A Fee simple
B Conditional
C Agreement
D Fee simple defeasible

Answer 4

Fee simple defeasible

Question 5

A holder of a life estate may do all of the following except:
A Sell it
B Improve
C Lease it
D Devise it (will)

Answer 5

Devise it (will)

Question 6

A holder of a life estate may do all of the following except:
A Sell it
B Improve
C Will it
D Lease it

Answer 6

Will it

Question 7

A holder of a life estate may do all of the following except:
A Sell it
B Divert (will)
C Lease it
D’Improve

Answer 7

Divert (will)

Question 8

Macy owned a life estate in a home measure on her own life. She lease the property to Susan for five years. Shortly after, Macy died. The lease was:
A Valid for as long as Macy lived
B Valid for 5 years
C Voided after 5 years
D All of the above

Answer 8

Valid for as long as Macy lived

Question 9

Macy owned a life estate in a home measure on her own life. She lease the property to Susan for five years. Shortly after, Macy sold the property.
The lease is:
A Valid for the years Macy owned the property
B Valid as long as Macy is alive and the new owner may not evict Susan
C The lease is based on the live of Susan
D All of the above

Answer 9

Valid as long as Macy is alive and the new owner may not evict Susan

Question 10

An estate of inheritance is also known as:
A Estate at sufferance
B Estate for years
C Probate
D Estate in fee

Answer 10

Estate in fee

Question 11

A fee simple absolute estate would best be defined as:
A An estate based on a condition
B An estate without encumbrances which can be easily transferred
C The highest interest a person can have in real property
D An estate which is less-than-freehold

Answer 11

The highest interest a person can have in real property

Question 12

Of the following, which best defines a fee simple estate:
A Title in the owner without limitations
B An estate for years
C A life estate
D The most interest that one can hold in land

Answer 12

The most interest that one can hold in land

Question 13

An estate is granted to “Arthur’ for the life of ‘Susan.” “Arthur” dies while ‘Susan” is still living. The estate:
A Ceases to exist
B Reverts to the original grantor
C Vests in ‘Arthur” for his life
D Vests in the heirs or devisees of “Susan.”

Answer 13

Vests in the heirs or devisees of “Susan.”

Question 14

Which of the following is not a characteristic of a fee simple title:
A It is real encumbrances
B It is of indefinite duration
C It is transferable with or without consideration
D It is transferable by will or intestate

Answer 14

It is real encumbrances

Question 15

Which of the following is most nearly correct as a meaning for the word ‘tenancy”:
A The landlord-tenant relationship
B The obstinacy of a holdover tenant
C The mode or method of holding title to real property by a lessee or owner
D Borrower and lender relationship

Answer 15

The mode or method of holding title to real property by a lessee or owner

Question 16

All of the following are factors generally considered when determining w an item of personal property has become real property, except:
A Agreement between the parties
B Cost of the article
C Permanence of the installation
D Relationship of the parties

Answer 16

Cost of the article