Property Ownership Review II

Question 1

An estate in real property which is held for a lifetime or longer is

Answer 1

Free Hold estate.

Question 2

Alease for 2 weeks of a vacation cottage is

Answer 2

Estate for years: has a beginning AND and ENDING date!

Question 3

Example: blue rents his home from Green with out a written lease or specified period of occupancy…

Answer 3

Blue holds
1. a leasehold estate
AND
2. an Estate at will

Question 4

Tenancy at Will

Answer 4

property tenure that can be terminated at an time by either the tenant or the landlord. It exists w out a contract lease and usually does not specify the length of a tenants duration

Question 5

Periodic Estate

Answer 5

type of leasehold estate (tenancy) that continues for successive periods of time, but does not have a specific end date. Terminating the agreement requires proper notice by the tenant or the landlord

Question 6

Lease hold estate

Answer 6

Possession of the land but no ownership , definite duration.

Question 7

Estate at will

Answer 7

also called Tenancy at will; landlord/tenant relationship w all the normal rights and duties of a lessor-lessee relationship, except that the estate may be terminated by either the lessor or the lessee at any time.

Question 8

Freehold estate AND an estate in severalty

Answer 8

Sole owner in fee simple.

Owner

Question 9

Tenancy by the Entirety

Answer 9

1. The tenants hold title as one person.
2. The right of survivorship may exist.
3. It is a concurrent estate.

Question 10

When 2 or more persons hold title as Tenants in common

Answer 10

They hold an undivided interest in the property AND

UNLIKE Joint Tenancy, the unities of time, title and interest need NOT be present

Question 11

IF CO OWNER in Tenancy in common dies…

Answer 11

there is no “right of survivor ship” remainder co owner does not acquire the deceased interest unless they ar3e named in the will.

Question 12

Partition

Answer 12

to divide up a concurrent estate into separate portions representing the proportionate interest of the owner of the property (forced sale)

Question 13

Tenancy by Entirety (husband and wife) may Not be terminated by partition TRUE OR FALSE

Answer 13

TRUE

BUT Joint tenancy and a tenancy in common can be terminated by partition.

Question 14

Partition in Kind:

Answer 14

Property is divided among co owners. The individual interest of the owners in a property are severed in a way that each owner can enjoy his share of the property free of others and can dispose his share w out any obstruction from others

Question 15

Corporations may hold title to real property together as

Answer 15

Tenants in Common

Question 16

Corporations own their OWN property

Answer 16

in severalty

Question 17

AN easement in Gross which is held by an individual

Answer 17

Is personal in nature AND

it does NOTA license run with the land.

Question 18

An easement in gross which is held by a person is terminated by

Answer 18

Death AND
or Sale of the property
Can not transfer the easement.

Question 19

ONLY Personal easements in Gross are

Answer 19

NOT assignable

Question 20

Dominate Estate, SAME as dominate tenement

Answer 20

is the holder of an easement appurtenant.

Question 21

The servient estate under an easement in gross is held by

Answer 21

the owner of the land on which the easement exists.

Question 22

An easement may NOT be acquired by

Answer 22

`adverse possession

Question 23

Condemnation

Answer 23

process by which the government may acquire an easement on privately held land

Question 24

An easement by be terminated by

Answer 24

Abandonment AND/OR court Order

Question 25

A license IS

Answer 25

Assignable, revocable by the licensor and a personal privilege.

A license is NOT an estate in land.

Question 26

A license may be terminated by

Answer 26

The death of either party AND/OR

The sale of the land by the licensor.

Question 27

An encroachment consitutes a tresspass if it

Answer 27

encroaches on the neighbors land

Question 28

Tree limbs that extend over a neighbor’s property line and intrude into her airspace are:

Answer 28

1. An Encroachment

2. A Nuisance

Question 29

A license to use another person’s property

Answer 29

terminates on the death of either party.