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Section 8 Multiple Choice Test
Terms in this set (10)
Which tenancy ownership creates the right of survivorship?
The owner's right to prevent others from trespassing onto your property.
A creditor holding a note for a car loan cannot foreclosure on an owner's home if protected by:
When purchasing an existing condominium, which form is NOT required for the buyer receive?
Estimated operating budget
Betty rented a property from Landlord Larry. While living there, Betty installed a hot tub on the terrace. While she was moving out, Larry showed up and prevented the movers from taking the hot tub. Upon going to court, which of the following is NOT a legal tests a judge would use to determine whether the hot tub stays with the property:
Whether the item added value to the real estate
Carlo wanted to rent his place to Bella. In order to create a tenancy at will which of the following statements is NOT correct?
No notice needs to be given to Bella to end the lease
Time-share ownership involves what type of legal ownership formats?
1) Interval Ownership
2) Right to Use
3) Reversionary Ownership
4) Either A or B
Either A or B
As tenants in common, Ciro and Lucy bought an investment property together. Ciro sold his interest in the property to Walter. Walter died in an accident. Who now owns Walter's share?
Ali hand crafted the built-in bookcases in the study. These bookcases would automatically be considered
The Robert Development Group wanted to build a super train that would pass across Florida fifteen stories above the ground. Because of the design of the suspension rails they didn't need to mount support posts on everyone's property that it would cross over, what rights could they negotiate to own for these properties where supports were not needed?
Submitted answer 2) Rail
Hobby activity expenses are deductible from AGI to the extent of hobby income. Such expenses not in excess of hobby income are not subject to the 2%-of-AGI floor.
What are Tall Man Letters used for?
A tort is broadly defined as a civil wrong, other than a breach of contract, for which the law provides a remedy.
a seller sold a property to a buyer. the property contained built-in bookshelves. Which statement is true regarding the built in bookshelves?
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