Methods of Ownership and Taking Title Flashcards
In tenancy in common, there is always a unity of:
a. time
b. title
c. interest
d. possession
D.
An individual will take sole title to a home as an:
a. joint tenancy
b. tenancy in common
c. estate in severalty
d. estate for years
c. estate in severalty
Under the law of community property if one spouse dies, the surviving spouse:
a. holds possession to the property in severalty
b. has half interest in the property
c. auto inherits half the property
d. and heirs both receive equal shares of the estate through probate
B.
A corporation cannot hold title to real property as a joint tenant because:
a. it is a violation of the securities laws
b. a corporation has perpetual existence
c. it is difficult to list all the stockholders in the deed
d. a corp cannot convey title to real property
B.
CHECK THIS ANSWER-Not sure it’s correct
Owner “A” owns 75% of a property, and owner B owns 25%. Upon death, owner B’s portion goes to B’s heirs. This type of ownership is:
a. JTRS
b. tenants in common
c. community property
d. life estate
C.
In AZ, undesignated property acquired by joint effort after marriage is considered to be held in:
a. joint tenancy
b. tenancy in common
c. severalty
d. community property
D. comm prop
A corporation cannot hold title to real property as joint tenant bc:
a. it is a violation of the securities laws
b. a corp has perpetual existence
c. it is difficult to list all the stockholders in the deed
d. a corp cannot covey title to real property
B.
If a person who owns property in joint tenancy dies, his share goes to his:
a. wife
b. estate
c. heirs
d. surviving tenants
D.
A parent conveys property to their heirs, R and G. R dies and, against the protests of R’s children, R;s interest passes to G automatically. R and G held title in:
a. tenancy in common
b. severalty
c. joint tenancy
d. community prop
C. joint tenancy
ownership by two or more unrelated parties with rights of survivorship is
a. joint tenancy
b. tenancy in common
c. tenancy in severalty
d. leasehold
A. joint tenancy
Two siblings own equal undivided interests in a parcel of land. If the older sibling dies, his share goes to his heirs. If the younger sibling dies, his share goes to the older sibling. They hold title as:
a. partnership
b. community property
c. tenancy in common
d. joint tenancy
C.
When a property is held in joint tenancy and one of the parties dies with a will, which is true
a. title would transfer according to will
b. property would be divided between the spouse and children
c. property goes to the joint tenant survivor
d. proper would pass to the heirs after probate
C. goes to joint tenant survivor
How would two buyers take title if they were not related
a. sole and separate
b. tenancy in common
c. interval
d. comm prop
B.
Two sisters want to buy property and leave it to their heirs. To accomplish this, they should take title:
a. as joint tenants w/ right of survivorship
b. as tenants in common
c. “ tenants in severatly
d. “ community property
B.
A, B, and C own prop as joint tenancts. C dies, and then B sells his interest in the property to D. The property is now owned by
a. A, D, and C’s widow, E, his sole heir, as joint tenants
b. a and D as joint tenants
c. A and D as tenants in common, each w/ 1/2 interest
d. A, D, and B’s wife
C.