Section 1 Test Questions Flashcards
A tenant continues to occupy an apartment after lease expiration without the consent of the landlord. This type of estate is called
An estate in sufferance -
tenant occupies the premises without consent of the landlord or other legal agreement with the landlord.
Carissa and Robert acquire a condominium as tenants in common. In this circumstance, Carissa can
Sell her interest to a third party without the consent of Robert.
Littoral rights apply to which of the following?
Navigable lakes, seas, and oceans
Which of the following is true of a joint tenancy?
The tenants have an equal and indivisible ownership interest
Six people have identical rights in a property and enjoy an indivisible interest. However any of the owners may sell or transfer his/her interest without consent of the others. This form of ownership is a
Tenancy in common
In a time-share freehold, owners acquire
undivided interests in the property as tenants in common
The “four unities” required to create a joint tenancy include which of the following conditions?
Parties must acquire respective interests at the same time.
When an estate is held in a trust, which party holds legal title?
The trustee
Which of the following best describes the physical boundaries of land?
The center of the earth, surface, and infinite space above the earth.
A retired couple has just bought a retirement home with a pier on a large lake. In this case the retirees’ water rights extend to
The high water mark of the body of water at the shoreline.
A landowner conveys a parcel of property with the provision that the land cannot be developed for retail purposes. The new owner immediately begins to develop a retail shopping outlet, the grantor finds out and takes the property back. What kind of estate did this landowner convey?
Fee simple defeasible
A homeowner is very upset over a drone that a neighbor flies over his house. He takes his case to court to end this possible violation of rights. Does he have a case, and on what basis?
Yes, the drones infringe on his air rights.
If the duration of an owner’s rights in an estate is not determinable, the owner has
a freehold estate.
Katelyn rents an apartment for one year. What rights has she acquired under the leasehold?
The right to possess and use the premises.
A fee or life estate is held by an individual. This form of estate is referred to as a(an)
Tenancy in severalty
Two people own a house, each having an undivided equal interest. Which of the following best describes what each party owns?
50% of the estate consisting of the indivisible whole of the real property.
Under what conditions can two individuals own a property as tenants by the entireties?
If they are married
Which of the following life estates is created by operation of law rather than by the owner?
Legal life estate
When a joint tenant dies, what happens to the tenant’s interest in the estate?
It passes to the surviving joint tenant(s).
Most states, joint tenants enjoy rights of survivorship. If a joint tenant dies all interest and rights pass to the surviving tenants free of claims or debts.
An estate at will
terminates on the death of lessor or lessee.
has no definite expiration date and no renewal cycle.
The distinguishing feature of a leasehold estate is
duration limited by a lease term.
A waterfront homeowner has just died. What will become of the water rights the owner enjoyed while living in the home?
They transfer with the property when the property is sold.
By contrast to a condominium, the owner of a cooperative owns
Shares in a corporation or association and a proprietary lease in a physical unit.
Which of the following best describes the legal concept of personal property?
Any item of property that is not definable as real property
In a community property state, John marries Patricia. Prior to the marriage John owned an SUV. During the marriage, John bought a Buick, John and Patricia bought a second property with money earned from Patricia’s job, and each individual received a motorcycle from Patricia’s uncle as a gift. What property is community property in this marriage?
Buick and the second property
Which of the following is true of a cooperative?
A cooperative may hold an owner liable for the unpaid operating expenses of other owners.
A real property interest that includes the right to possess is considered
an estate in land
Which of the following would be considered an improvement?
A chicken coop permanently attached to the land.
improvements include: fences, streets, buildings, ect.
In contrast to a tenancy in common, in a joint tenancy
There is a single title to the property
Which of the following is true of a homestead?
A homestead interest cannot be conveyed by one spouse.
An estate from period-to-period will continue as long as
the tenant makes, and landlord accepts, regular rent payments.
An item may be considered personal property as opposed to real property provided that
the owner installed it at some time after acquiring the real property.
The right to encumber a property means that the owner can
Pledge the property as collateral for debt.
Homestead estates are examples of
A legal life estate
When a tenant in common dies, what happens to the tenant’s interest in the estate?
It passes by probate to the deceased tenants heirs.
Which of the following would be defined as real estate as opposed to real property?
wells, driveways, and signs on parcel land
In a cooperative, real property is owned only by
the corporate entity of the cooperative association.
The “bundle of rights” refers to a set of rights
specified in a deed or land contract.
Tanya buys a 4-bedroom condominium. As the new owner, she has the right to
Sell or mortgage the unit without impediment from individual owners of neighboring units.
If a co-owner in a joint tenancy or tenancy in common wants to dispose of his or her interest against the wishes of the other co-owners, the co-owner can
sue in court for a termination of the tenancy and partition of the property.
Louis owned a boat and a house before marrying Barbara. While she was single, Barbara owned a new car. The two got married and bought a second home. As a wedding present, Barbara’s father bought Louis a motorcycle. Under the law of community property, what property can Louis sell without his wife’s consent or signature?
The boat house and motorcycle-
- Community property consists of all other property earned or acquired by either party during the marriage.
- A spouse owns separate property free and clear of claims by the other spouse. He or she can transfer it without the other spouses signature.
- Community property cannot be transferred or encumbered without the signatures of both spouses.
A property owner leases 60 acres of agricultural land for a renewable period of 5 years. In the context of real estate rights, this lease represents a(n)
Transfer of a portion of the bundle of rights
Ned grants his sister Alice an estate for as long as she lives. Her descendants, however, cannot inherit the estate. What kind of estate is it?
An ordinary life estate
Which of the following is true of a tenancy in common?
The tenants must acquire their interests at the same time.
The right to control land usage by zoning and eminent domain is an example of
A public interest
A condominium owner’s share of maintenance and operations expenses are based on
The units pro rata share of the property value as defined in the declaration.
A tenant in common can
sell or transfer his interest without the consent of the other tenants in common
Which of the following best describes a “fixture?”
An item of personal property that has been converted to real property
Riparian rights concern which of the following bodies of water?
Streams and rivers
