Methods of Ownership Flashcards
“A” conveys property to “B” and “C” who are unrelated and not joint tenants or reciprocal beneficiaries. “B” dies:
A) “C” is the sole owner
B) “B’s” share goes to his heirs
C) Property will convey fractional interest
D) A deed will not convey any interest unless signed by both spouses
B) “B’s” share goes to his heirs
Which of the following statements apply equally to joint tenants and tenants by the entirety:
A) There is no right to file a partition suit
B) The survivor becomes owner
C) A deed signed by one will convey a fractional interest
D) A deed will not convey any interest unless signed by both spouses
B) The survivor becomes the owner.
In tenancy by the entirety, the material unit owns the property; therefore both spouses must act to partition or sell.
When a person owns property to the exclusion of all other persons, he is said to hold the property in:
A) Personalty
B) Common
C) Severalty
D) Secret
C) Severalty
A Tenancy in common must have a unity of:
A) Time
B) Title
C) Interest
D) Possession
D) Possession
Each tenant has undivided interest to possess the whole.
An action brought by a co-owner of property to compel the severance of their respective interest is an action for:
A) Foreclosure
B) Quite Title
C) Forfeiture
D) Partition
D) Partition
A joint tenant may not:
A) Sell his interest
B) Give away his interest
C) Encumber his interest
D) Will (devise) his interest
D) Will (devise) his interest
At death there is no interest in his estate to will.
In a joint tenancy:
I. Shares must be equal
II. Any party may convey his share without consent of the others
A) I Only
B) II Only
C) Both I and II
D) Neither I nor II
C) Both I and II - Shares must be equal; any party may convey his share without consent of the others.
Consent of all needed to convey the entire property; a transfer of interest will sever the joint tenancy.
When purchasing real estate the form or method of ownership (severalty, tenants in common, or joint tenants) should best be determined by:
A) The broker
B) The buyer and his attorney
C) the seller
D) The law of the Tate in which the real estate is located
B) The buyer and his attorney
It is the unauthorized practice of law for a broker to determine the tenancy though he should discuss the various differences.
The right of survivorship is a feature of :
I. Joint Tenancy
II. Tenancy in Common
A) I Only
B) II Only
C) Both I and II
D) Neither I nor II
A) I Only - Joint Tenancy
A & B are tenants in common. If B dies:
I. A’s interest in the property is unaffected;
II. B’s interest goes to A
A) I Only
B) II Only
C) Both I and II
D) Neither I nor II
A. I Only - A’s interest in the property is unaffected
B’s interest goes to his heirs.
Which is true under Hawaii law?
I. Unless otherwise specified, a conveyance to husband and wife will create a tenancy by the entirety
II. Tenancy by the entirety has a right of survivorship, and can only be severed by divorce, death, or joint conveyance of the husband and wife.
A) I Only
B) II Only
C) Both I and II
D) Neither I nor II
B. II Only - Tenancy by the entirety has a right of survivorship and can only be severed by divorce, death, or joint conveyance of the husband and wife.
Must be specifically created otherwise it is a tenancy in common
Which of the following can take title to real property in tenancy by the entirety.
I. Husband and wife
II. Father and four year old son
A) I Only
B) II Only
C) Both I and II
D) Neither I nor II
A) I Only - Husband and Wife
Two sisters, Mary and Rose, inherit real property from their mother with no stipulation except that one third is to go to Mary and two thirds to Rose. Which of the following is true?
A) Mary and Rose are joint tenants of the property
B) Rose my not mortgage her intent in the property without Mary’s consent
C) Upon Mary’s death her part of the property reverts to Rose;
D) Upon Rose’s death, her share passes to her heirs or devisees
D. Upon Rose’s death, her share poses to her heirs or devisees
If it were joint tenancy, the shares need to be equal.
A woman and her bother hold property in joint tenancy. The woman deeded her part to herself and her husband:
A) The deed to the husband is invalid
B) The joint tenancy is broken
C) All three now hold title in joint tenancy
D) Joint tenancy remind the same
B. The joint tenancy is broken
The brother has a 1/2 undivided tenancy in the common interest, the woman and her husband each have 1/4
A tenant in common may sell his interest:
I. Only with the permission and approval of the other tenants in common
II. At any time, without permission or approval
A) I Only
B) II Only
C) Both I and II
D) Neither I nor II
B) II Only - At anytime, without permission or approval
Yes, he may sell his interest.
