Ownership of Real Estate

Question 1

A title that is held by one person (or entity).

Answer 1

Sole ownership or Tenancy in Severalty

Question 2

Which tenancies includes the right of survivalship?

Answer 2

-Joint tenancy
-Tenancy by the Entirety

Question 3

Ways to categorize businesses.

Answer 3

-Sole proprietorship
-Partnerships
-Corporations

Question 4

What entity manages and operates a corporation?

Answer 4

Board of directors

Question 5

Ownership involving a married couple.

Answer 5

Ownership by the entirety

Question 6

What type of property do you have with a condominium?

Answer 6

Real property

Question 7

What type of ownership do you have with a cooperative?

Answer 7

Proprietary lease

Question 8

What type of property do you have with a cooperative?

Answer 8

Personal property

Question 9

What is it called when a property owner requests permission to use their property against current regulations?

Answer 9

A variance.

Question 10

What material is hazardous due to its friable nature?

Answer 10

Asbestos