PRINCIPLES AND PRACTICES CHP3

Question 1

What are the two main types of possessory interest in real property?

A. easements and freehold estates

B. freehold estates and leasehold estates

C. easements and liens

D. liens and leasehold estates

Answer 1

B. freehold estates and leasehold estates

Question 2

Which statement about a fee simple absolute estate is FALSE?

A. Fee simple absolute is the highest, freest form of ownership.

B. A fee simple absolute estate is both transferable and inheritable.

C. A person can own a fee simple absolute estate indefinitely.

D. A person transferring a fee simple interest can put no limitations on the new owner.

Answer 2

D. A person transferring a fee simple interest can put no limitations on the new owner.

Question 3

The owner of 20 acres of land in the mountains decides to deed the land to a cousin. The owner wants to ensure that the pristine beauty of the property is not marred by development and indicates in the deed that at least 10 acres must remain undeveloped. This is an example of

A. fee simple absolute.

B. fee simple defeasible.

C. leasehold.

D. life pur autre vie.

Answer 3

B. fee simple defeasible.

Question 4

Which is NOT a type of freehold estate?

A. defeasible fee estate

B. fee simple estate

C. ordinary life estate

D. periodic estate

Answer 4

D. periodic estate

Question 5

A woman owns property in fee simple. She grants an ordinary life estate to her sister and a remainder estate to her son. The life tenant CANNOT

A. give the life estate away to someone else.

B. live on the property.

C. sell the life estate to a stranger.

D. will the life estate to a family member.

Answer 5

D. will the life estate to a family member.

Question 6

George bought a house for her mother to live in, although he remains the owner. When his mother dies, he wants to retain possession of the property. Who will own the property when the mother dies, and what is that person called?

A. The owner of the property will be George, who is the remainderman.

B. The owner of the property will be George, who is the reversioner.

C. The owner of the property will be the mother’s named heir, who is the new life tenant.

D. The owner of the property will be the mother’s named heir, who is the remainderman.

Answer 6

B. The owner of the property will be George, who is the reversioner.

Question 7

Mary conveys a life estate to Nancy for as long as Peter shall live, and then to Tom. Nancy dies before Peter dies. Now who has the present interest in the estate?

A. Mary, the grantor

B. Nancy’s heirs

C. Peter, the measuring life

D. Tom, the remainderman

Answer 7

B. Nancy’s heirs

Question 8

A life tenant may NOT

A. commit an act of waste.

B. make improvements to the property.

C. possess 100% of the property.

D. rent the property to someone else.

Answer 8

A. commit an act of waste.

Question 9

A father conveys a life estate to his daughter for as long as she lives, and then to his son. Who is the son, and what does he own?

A. remainderman, present estate

B. remainderman, future estate

C. reversioner, present estate

D. reversioner, future estate

Answer 9

B. remainderman, future estate

Question 10

Of these, which estate is NOT inheritable?

A. fee simple absolute

B. fee simple defeasible

C. life estate pur autre vie

D. ordinary life estate

Answer 10

D. ordinary life estate

Question 11

The person who leases his property is the ___and person to whom the property is leased is the ____

A. landlord / lessor

B. lessee/ lessor

C. lessor/lessee

D. tenant/landlord

Answer 11

C. lessor/lessee

Question 12

A leasehold estate is

A. personal property.

B. real property.

C. both personal property and real property.

D. neither personal property nor real property.

Answer 12

A. personal property.

Question 13

Lessors have a(n) ___ interest in real property

A. absolute

B. present

C. reversionary

D. temporary

Answer 13

C. reversionary

Question 14

In which tenancy does the tenant possess the property with landlord permission but without a specific rental period or duration of possession?

A. estate at will

B. estate for years

C. estate in remainder

D. periodic estate

Answer 14

A. estate at will

Question 15

A tenant agrees to rent an apartment for six months for $700 a month. At the end of the six months, the lease automatically renews for another six months. What does this situation describe?

A. estate for years

B. holdover tenancy

C. periodic tenancy

D. tenancy at will

Answer 15

C. periodic tenancy

Question 16

When the owner of two duplexes dies, his four tenants must vacate the premises. What kind of estate does this indicate?

A. periodic tenancy

B. tenancy at sufferance

C. tenancy at will

D. tenancy for years

Answer 16

C. tenancy at will

Question 17

A tenant’s lease expired, but she continues living in the apartment without her landlord’s permission. This situation is considered a

A. periodic tenancy.

B. tenancy at sufferance.

C. tenancy at will.

D. tenancy for years.

Answer 17

B. tenancy at sufferance.

Question 18

A tenant agrees to rent an apartment from a landlord for three months for $500 a month. He moves in on January 1 and moves out on March 31 without giving notice. What type of leasehold estate is this?

A. periodic tenancy

B. tenancy at sufferance

C. tenancy at will

D. tenancy for years

Answer 18

D. tenancy for years

Question 19

Joe’s friend from college moves to town. Joe lets her move into his house while she is looking for a job. What type of leasehold estate is this most likely to be?

A. periodic tenancy

B. tenancy at sufferance

C. tenancy at will

D. tenancy for years

Answer 19

C. tenancy at will

Question 20

Generally speaking, if a landlord accepts rent from a holdover tenant after the lease expires, what type of tenancy is created?

A. periodic tenancy

B. tenancy at sufferance

C. tenancy at will

D. tenancy for years

Answer 20

A. periodic tenancy