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Ch 8 Exam

QuestionAnswer
All of the following estates include legal title to real property, EXCEPT: a) Tenancy for years; b) Fee simple estate; c) Life estate; d) Tenancy by the entireties Tenancy for years
Florida time share projects are regulated by which organization? Division of Florida Condominiums, Timeshares, and Mobile Homes
Able, who holds title in fee simple, deeds land to Baker to enjoy until his death. At that time, Charlie is to receive title to the land. Baker's interest in the land is known as what? Life estate
Able, who holds title in fee simple, deeds land to Baker to enjoy until his death. At that time, Charlie is to receive title to the land. Charlie's interest in the land is known as what? reminder estate
What rights allow a property owner to have reasonable use of water flowing over or thru their land? Riparian
A potential purchaser of new timeshares can cancel the contract without penalty within how many days? 10
T/F: The following describes a tenancy at sufferance: The tenant suffers from the landlord's failure to maintain the property. False
T/F: The following describes a tenancy at sufferance: The landlord suffers from the tenant's failure to pay rent. False
T/F: The following describes a tenancy at sufferance: The lease instrument is valid. False
T/F: The following describes a tenancy at sufferance: The tenant remained in possession after expiration of a lease. True
T/F: The following describes a tenancy at will: A lease which can be terminated at the will of the landlord or tenant by giving legal notice. True
T/F: The following describes a tenancy at will: Any lease for less than a year. False
T/F: The following describes a tenancy at will: A written lease that provides a definite beginning and ending date. False
T/F: The following describes a tenancy at will: Any tenancy created by a written lease. False
What is the elective share right in Florida ? 30% of the real and personal property owned at the time of death
What does the bundle of rights in real property include? Disposition, enjoyment, and exclusion
What 4 tests are used by courts to determine whether an item is real or personal property? Intent, relationship of parties, method of annexation, and adaptation
What are the four unities required to create a joint tenancy? Possession, interest, time, and title
The law of descent and distribution passes what percentage to a surviving spouse if ther are no lineal descendants? 100%
A form of corporate ownership that allows possession under a proprietary lease is known as ____. Cooperative
Paul and Paula are hubby and wife. they own property as tenants by the entireties. They divorce w/o property settlement. Unless otherwise decreed by a court, they now hold the property title as ___. Tenants in common.
Created by: riverjan1122
 

 



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