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Karin- Real Estate
| Question | Answer |
|---|---|
| The distinguishing feature of a defeasible fee simple estate is that... | It may revert to a grantor if the prescribed use changes. |
| Dower can be best defined as.... | A wife's life estate interest in her husband's property. |
| A distinct feature of a joint tenancy is that joint tenants.... | |
| Real property intersets include... | Fences |
| What is a form of ownership that is restricted to husband and wife? | Tenancy by the entirety |
| What would result from a condition in a deed? | Defeasible fee |
| A man installed central air conditioning in his home. The compressor unit, which was located outside the home, is regarded as... | Real Property |
| Tenant installs a sign that was anchored to the building w rods.This is called? | Trade fixture |
| What type of real property description would include reference to an iron stake? | Meters and bounds |
| A tenancy in common differs from a joint tenancy in that. .. | Tenants in common may have unequal interests. |
| Chattels real differ from appurtenances in that they... | Are personal property. |
| Rights, benefits and improvements that go w the land are called. .. | Appurtenances |
| What is classified as real property? | Water rights |
| 3 of the tests of a fixture are. .. | Adaptability, intent, and attachment. |
| All is the ownership rights that tansfer w a fee simple estate are called? | Bundle of rights |
| Items that were formerly personal property but are now regarded as real property are described as... | Fixtures |
| Example of a real property security is... | Condominium sold w a mandatory rental pool arrangement. |
| Part of a legal description on a deed stated 38° 7'. What type of description was it? | Metes and bounds |
| A brother and his sister hold land as joint tenants. The sister conveys one half of her interest to her husband. Ownership would now be held in. .. | Brother, the sister and the sister's husband as tenants in common. |
| An owner granted a life estate to another but retained a future interstate, which was a.... | Reversionare are interest |
| A person other than the grantor had a future interest in life estate. That interest is... | A remainder interest |
| A life estate was lost by merger. Merger occurred when the | Remainder interest holder purchased the life tenants interest. |
| The statutory right of a widow in the estate of her deceased husband is a | Dower right |
| A man had to pay a stock transfer fee when he sold his unit. What toe of development was it? | Cooperative |
| A common feature that owners of condominium units and owners of cooperative units have is that they? | Pay assessments to an owners association. |
| Owning property as tenants in common permits each owner to | Own unequal shares |
| An example of a limited common element in a common interest subdivision is | A common element |
| A swimming pool in a condominium development is regarded as | A common element |
| L,M, and N are hint tenants. N sells his interest to O, and then M dies. Which of the following is true? | L and O are tenants in common |
| What is a partition action? | A court proceeding to break up a co-ownership |
| How much fencing is required to fence the S1/2 of a quarter section? | 1.5 miles |
| A buyer of a residential unit receives a share of stock and occupancy based on a lease. What type of development was the unit in? | Cooperative |
| Joint tenancy and tenancy in common are similar in that. .. | All owners have equal rights of possession. |
| A deed to a brother and his sister did not specify how title should be taken. Title is a... | Tenancy in common |
| An undivided interest w the right of survivorship. Owners must take title at the same time, by the same instrument,w equal interests,and w equal rights of possession. | Joint Tenancy |
| Ownership by two or more persons, each of whom has an undivided interest w out the rights of survivorship. | Tenancy in common |
Created by:
KarinAustin