Estates In Land Flashcards
Estates in Land
Freehold
Tegal estate in
Land Which
is for an
unlimited time
What is an estate in land?
An estate in land is a legal interest in real property that determines the nature and extent of ownership.
True or False: An estate in land can be both freehold and leasehold.
True
Fill in the blank: A __________ estate is one that lasts for a fixed period of time.
leasehold
What type of estate provides the greatest interest in a property?
Fee simple absolute
Multiple Choice: Which of the following is NOT a type of freehold estate? A) Fee simple B) Life estate C) Leasehold estate
C) Leasehold estate
What is a life estate?
A life estate is an interest in property that lasts for the lifetime of a specified individual.
True or False: A fee simple subject to a condition subsequent automatically ends if a condition is violated.
False
Fill in the blank: In a __________ estate, the owner has the right to possess the property for a specific duration, after which it reverts back to the grantor.
leasehold
What does the term ‘reversion’ refer to in property law?
Reversion refers to the right of a property owner to regain possession of the property after a particular estate ends.
Multiple Choice: Which estate is automatically inherited by the heirs upon the owner’s death? A) Life estate B) Fee simple C) Leasehold estate
B) Fee simple
True or False: A tenant in a leasehold estate has the same rights as a fee simple owner.
False
What is a fee tail estate?
A fee tail estate is a type of estate that restricts inheritance to a particular line of heirs.
Fill in the blank: An estate that is limited to the duration of a person’s life is known as a __________ estate.
life
What distinguishes a fee simple determinable from a fee simple subject to a condition subsequent?
A fee simple determinable automatically ends when a condition is violated, while a fee simple subject to a condition subsequent does not.
True or False: A leasehold estate can be created for a period of years, a month-to-month basis, or for a specific event.
True
What is the primary characteristic of a joint tenancy?
The primary characteristic of a joint tenancy is the right of survivorship, where the surviving co-owners inherit the deceased owner’s share.
Multiple Choice: Which of the following is a characteristic of a tenancy in common? A) Right of survivorship B) Equal shares C) Shares can be unequal
C) Shares can be unequal
Fill in the blank: A __________ estate allows for the transfer of rights to another party without losing ownership.
leasehold
What is a remainder interest?
A remainder interest is a future interest that takes effect after the termination of a prior estate, such as a life estate.
True or False: The holder of a life estate can will the property to their heirs.
False
What is the difference between an express and implied lease?
An express lease is a written agreement specifying terms, while an implied lease is created by actions of the parties without a written contract.
Multiple Choice: Which of the following describes a leasehold estate? A) Permanent ownership B) Temporary possession C) Ownership for life
B) Temporary possession
Fill in the blank: An estate that is created when property is gifted with conditions is known as a __________ estate.
conditional
What does the term ‘encumbrance’ refer to in the context of estates in land?
An encumbrance is a claim or liability attached to a property that may affect its value or use.
True or False: A tenant can sublet a leasehold estate without the landlord’s permission.
False
