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B

2. A person who has complete control over a parcel of real estate is said to own a
a. leasehold estate.
b. fee simple estate.
c. life estate.
d. defeasible fee estate.

A

6. Which of the following has an indefinite duration?
a. Freehold estate
b. Less-than-freehold estate
c. Estate for years
d. License

D

8. A decedent left a will giving his neighbor the right to use a well on the decedent's land as long as the neighbor was alive. The neighbor's interest in the property is properly called a(n)
a. license.
b. easement in gross.
c. easement appurtenant.
d. life estate

D

10. A life estate conveys to the life tenant
a. a leasehold for life.
b. a reversionary interest.
c. a legal life estate.
d. ownership for life.

C

11. J owned the fee simple title to a vacant lot adjacent to a hospital and was persuaded to make a gift of the lot. She had her attorney prepare a deed that conveyed the ownership of the lot to the hospital "So long as it is used for medical purposes." After the completion of the gift, the hospital will own a
a. life estate.
b. tenancy for years.
c. fee simple determinable.
d. periodic tenancy.

A

12. The most all-inclusive type of real property ownership is a
a. fee simple estate.
b. life estate.
c. conditional fee estate.
d. reversionary interest.

C

13. The rights of the owner of property located along the banks of a river are called
a. littoral rights.
b. prior appropriation rights.
c. riparian rights.
d. hereditaments.

B

20. G owns 50 acres of land with 500 feet of frontage on a desirable recreational lake. She wishes to subdivide the parcel into salable lots, but she wants to retain control over the lake frontage while allowing lot owners to have access to the lake. Which of the following types of access rights would provide the greatest protection for a prospective purchaser?
a. An easement in gross
b. An appurtenant easement
c. An easement by necessity
d. A license

A

21. A homestead exemption protects against judgments
a. of unsecured creditors.
b. that result from unpaid taxes.
c. that result from foreclosure of a mortgage.
d. that result from the costs of improvements.

B

22. The major intent of zoning regulations is to
a. demonstrate the police power of the state.
b. ensure the health, safety and welfare of the community.
c. set limits on the amount and kinds of businesses in a given area.
d. protect residential neighborhoods from encroachment by business and industry.

D

24. A deed conveys ownership to the grantee so as long as the existing building is not torn down. What type of estate did this deed create?
a. A life estate
b. A non-destructible estate
c. A fee simple estate
d. A determinable fee estate

A

25. Which of the following best describes a legal life estate?
a. A homestead estate
b. An estate conveyed by one party to a second party for the life of the second party
c. An estate created by a will
d. An estate conveyed to a second party subject to a condition

B

27. H conveys a life estate to her grandson and stipulates that upon her death the estate will pass to her son-in-law. The son-in-law has a(n)
a. estate in reversion.
b. estate in remainder.
c. estate for years.
d. legal life estate.

D

28. L conveys the ownership of his house to his mother and stipulates that upon her death he will recapture the ownership. The interest L has in the ownership is a
a. remainder estate.
b. curtesy estate.
c. legal life estate.
d. reversion estate.

C

30. Mrs. D conveys the ownership of her apartment building to a nursing home, anticipating that the rental income will help pay for her father's care there. When her father dies, Mrs. D will recapture the ownership of the apartment building. This is an example of a
a. remainder life estate.
b. legal life estate.
c. life estate pur autre vie.
d. leasehold estate

B

31. The developer grants to the gas company the right to install transmission lines. This right is called a(n)
a. license.
b. easement in gross.
c. easement by prescription.
d. conditional use permit.

B

33. A person wants to ensure that the ownership of real property can be willed to her children. Which of the following forms of ownership would the person want?
a. A conventional life estate
b. A fee estate
c. A joint tenancy
d. A license

B

35. A person who acquired ownership that can be inherited, with the provision that the land must always be used for recreational purposes, has which of the following?
a. A fee simple estate
b. A conditional fee estate
c. A restricted estate
d. An estate that cannot be sold

C

37. A father conveyed the family home to his daughter by will as a pur autre vie state for the life of her mother. If the daughter should die before the mother ho holds the property?
a. The mother
b. The remaindermen
c. The daughter's estate
d. The father's other children

B

39. F has the legal right to occupy and use a certain residential structure. Which of the following does NOT describe F's interest?
a. Fee simple
b. Remainder
c. Leasehold
d. Life estate

B

40. Which of the following would be considered community property?
a. A gift of property to the wife during the marriage
b. Income earned by one spouse during the marriage
c. Property inherited by the husband during the marriage
d. Income earned by either party prior to the marriage

C

43. V and N are co-owners of a fee simple interest in a small office building. N dies intestate and leaves no estate to be distributed to his heirs. V is neither related to N nor a creditor of N. Which of the following would explain why V acquired the interest of N?
a. Adverse possession
b. Reversionary rights
c. Joint tenancy
d. Foreclosure

B

44. An ownership interest that is based on annual occupancy intervals is the
a. leasehold.
b. time-share.
c. condominium.
d. cooperative.

B

47. Which of the following does NOT have equal rights of possession?
a. Tenancy in common
b. Tenancy at will
c. Tenancy by the entirety
d. Joint tenancy

A

49. In a community property state, separate property is owned
a. solely by either spouse before the marriage or acquired by gift or inheritance by either spouse during the marriage.
b. by one spouse before the marriage and jointly with the other spouse during the marriage.
c. one-half by each living spouse during the marriage and then passes entirely to the survivor.
d. jointly by one spouse and his or her deceased spouse's descendants.

C

50. Under the community laws of the state in which they live, which of the following does NOT apply to the Ds ?
a. Each also owns separate property.
b. They may not convey community property without the other's consent.
c. Each also owns community property with others.
d. They may not encumber community property without the other's consent.

C

51. To create a joint tenancy relationship in the ownership of real estate, there must be unities of
a. grantees, ownership, claim of right, and possession.
b. title, interest, encumbrance, and survivorship.
c. possession, time, interest, and title.
d. ownership, possession, heirs, and title.

B

53. Separate property owned by a married person in a community property state must be
a. incorporated into the community property.
b. kept totally separate from the community property.
c. designed so that it eventually becomes community property.
d. established prior to, not during, the marriage.

C

54. A joint tenancy with right of survivorship may be created
a. automatically if the property is distributed to the surviving children.
b. by presumption if another form of ownership is not described.
c. by deed or will.
d. when a deed is signed by both spouses.

A

56. A property held as tenancy by the entirety requires which of the following?
a. The cotenants must be husband and wife.
b. The property in question must be Torrens property.
c. Upon the death of a cotenant, the decedent's interest passes to his or her heirs.
d. In the event of a dispute the property must be partitioned.

A

57. In a community property state
a. the property that a person accumulated prior to marriage is called separate property.
b. the property that a person received as a gift during marriage is known as community property.
c. all property owned by a married person is called community property.
d. the property paid for by the earnings of one spouse during the marriage is knows as separate property.

C

65. Acquisition of real estate by a group that includes one or more sponsors (promoters) and several investors is called a
a. subdivision.
b. time share.
c. syndication.
d. group investment.

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