TypesOfRealEstateOnwership

Question 1

Interest in a real property for an undetermined length of time

Answer 1

Freehold

Question 2

Freehold

Ownership, possession, and control for owner’rs lifetime that is conveyed to heirs to will after death

Answer 2

Fee Simple

Question 3

Freehold
Ownership, possession and control for owner’s lifetime that is conveyed by deed not by will

Answer 3

Life Estates

Question 4

Freehold - Fee Simple

Complete ownership

Answer 4

Absolute

Question 5

Freehold - Fee Simple

Rights of ownership are conditional

Answer 5

Defeasible

Question 6

Freehold - Life Estates

Created by agreement of parties

Answer 6

Conventional

Question 7

Freehold - Life Estates

Created by operation of law

Answer 7

Legal

Question 8

Interest in real property for a determined length of time

Answer 8

Leashold

Question 9

Leasehold

The lease may be for a day, week, month or years or any definity period of time and terminates upon date

Answer 9

Estate for Years

Question 10

Leasehold

Duration of this lease is unknown at time of creation can can be terminated at any time by lessor or lessee

Answer 10

Estate at Will

Question 11

Leasehold

Type of possession in which a tenant stays after the right to possess has terminated

Answer 11

Estate at Sufferance

Question 12

Leasehold

Involves possessory interest that is automatically renewed at the end of ach period specified in the lease

Answer 12

Periodic Estate

Question 13

Ownership and provides homeownership for a determined length of time

Answer 13

Freehold estate

Question 14

Tenancy and provides interest in real estate for limited time

Answer 14

Leasehold

Question 15

estate that gives special protections in property used as family home

Answer 15

Homestead

Question 16

State’s power to claim property when an owner dies without a will, heirs or creditors

Answer 16

Escheat

Question 17

Widower’s interest in property owned by deceased wife

Answer 17

Curtesy

Question 18

Dower’s interest in property owned by deceased husband

Answer 18

Dower

Question 19

Renewable until terminated

Answer 19

Periodic Estate

Question 20

Created by a property owner who grand an estate so someone for the duration of another individuals life

Answer 20

Pur autre vie life estate

Question 21

Life estate in which property title reverts to the owner upon death of life tenant

Answer 21

Reversionary Interest

Question 22

Remainders right to fee simple title upon the death of life tenant

Answer 22

Remainder Interest

Question 23

Abuse of a property by a person who holds interest

Answer 23

Act of waste