Titles and Estates Flashcards
Which of the following is FALSE?
A. Doc must be recorded in the county where the property is located.
B. All doc affecting title to real property must be acknowledged and recorded before they are considered legal.
C. Tenants in common hold separate titles whereas joint tenants hold a single title to the property
D. Tenancy in common has equal right of possession even though parties may have various financial interest in property.
B. Doc must be acknowledged, but not necessarily recorded before they are considered legal.
Which of the following is FALSE?
A. Joint tenancy has right of survivorship whereas tenants in common does not.
B. Each tenant in tenancy in common may will/sale/encumber individual interest without affecting other tenants’ interests.
C. Debts incurred by deceased tenants in joint tenancy against property do not pass onto surviving tenants
D. Tenants in joint tenancy may sell and will their interests
D. Joint tenants may sell their interest, which converts joint tenancy into tenancy in common. But joint tenants may not will their interest b/c right of survivorship.
Which of the following is FALSE?
A. Commingling of community money w/separate property is illegal in CA
B. Property is considered separate property if purchased w/$ from separate property and $ gifts during marriage
C. Each spouse may not will their half of the interest in community property b/c of right of survivorship
D. Community property is liable for debt incurred by either partner during marriage, not the other partner personally
C. Each spouse may will their half of the interest in community property, but the other tenant in joint tenancy get entire property when someone dies intestate, but in community property spouse may not get entire property if dead spouse has heirs like kids.
Each spouse may not sell his/her interest in property separately
Which of the following is FALSE for Tenancy in Common, Joint Tenancy, Community Property and Tenancy in Partnership?
A. Tenancy in Common and Joint Tenancy can each convey individual interest separately, not true for community property and Tenancy in Partnership
B. Tenancy in common is the only one with separate and undivided interest, the other 3 has equal undivided interest
C. Tenancy in common is the only with separate titles, the other 3 has only one title
D. Tenancy in common is the only one can pass interest by will, interest automatically pass to surviving partners for the other 3 tenancies.
D. Community property interest may also be passed by will. Half of the property pass onto surviving spouse, the other half passes by will.
Title in tenancy in partnership belongs to partnership itself, not individual partners.
Difference between living trust vs. testamentary trust?
Trustor conveys title to trustee during lifetime, testamentary trust is the same thing except trust takes effect when trustor dies.
Which of the following is TRUE?
A. Land trusts offers privacy for beneficiaries as they are not named in public records
B. Land trusts offer protection for the other beneficiaries from liabilities from any beneficiary
C. Beneficiaries in land trust may encumber property via collateral assignment vs. recorded mortgage.
D. All of the above.
D. note court orders can reveal beneficiary names
Land trusts offer “ease of conveyance”
Which of the following is FALSE?
A. All liens are encumbrances, but not all encumbrances are liens.
B. Zoning requirements and building codes are examples of non-money encumbrances.
C. All mechanics liens must be verified and recorded.
D. Lien holder has 30 days to start foreclosure proceedings after filing lien.
D. Lien holder has 90 days to begin foreclosure proceedings after lien is filed.
Which of the following is FALSE?
A. Special assessments and local taxes are specifc liens.
B. Merchanics liens take priority over all other liens in foreclosure
C. Easements are sold with property of the servient tenement
D. Easement may be affirmative or negative.
C. Easement are sold with property of dominant tenement, the person receiving the easement right
Affirmative easement gives right to use, negative easement prohibits uses
Which of the following is FALSE?
A. Easement by necessity is created by court out of necessity.
B. Easement in gross transfers with the property
C. Party wall easement is a common wall with severalty ownership of half of the wall along property boundary.
D. It takes min. 5 yrs of continuous open hostile use in CA to grant easement by prescription
B. Easement in gross is a personal right and does not attach to property. There’re no dominant/servient estates in easement in gross.
What’s the difference btw. easement created by express grant vs. easement created by express reservation?
Easement created by express grant is when servient tenement gives easement via deed to dominant tenement.
Easement created by express reservation is when dominant tenement gives easement via deed to new owner.
