Chapter 5 Quiz

Husband and wife own property as tenants by the entireties. The husband dies naming their son as devisee in his will. Which of the following is true? Select one: a. The wife owns the property in severalty. b. The son is a tenant in common with his mother. c. The son will automatically inherit the property when his mother dies. d. The son has a life estate, per autre vie.

a. The wife owns the property in severalty.

Fee simple title can be held in a trust. Select one: a. True b. False

a. True

It is possible for the creator of the trust, the trustor, and the beneficiary to be the same person. Select one: a. True b. False

a. True

Tenancy-in-common is the most common form of co-ownership. Select one: a. True b. False

a. True

A married woman may NOT own property with a man other than her husband as... Select one: a. tenants-in-common. b. joint tenants. c. tenants by the entireties. d. all of the above.

c. Tenancy by the entirety.

A married woman and an unmarried man may not own real estate as: Select one: a. tenants-in-common. b. joint tenants. c. tenants by the entireties. d. partners.

c. tenants by the entireties.

A corporation buying real property would take title under: Select one: a. Joint tenancy. b. Tenancy in common. c. Tenancy in partnership. d. Tenancy in severalty.

d. Tenancy in severalty.

Property held in joint tenancy passes to the ______ upon the death of one of the owners. Select one: a. landlords b. state c. heirs of the deceased d. surviving owners

d. surviving owners

Which of the following is an example of tenancy at sufferance? Select one: a. A farmer who has legally leased a farm for ten years but refuses to give up possession of the property when his lease expires. b. A person who leases a store and renews her lease on a month to month basis. c. A tenant who installed trade fixtures, but did not remove them when the lease expired. d. None of the above

a. A farmer who has legally leased a farm for ten years but refuses to give up possession of the property when his lease expires.

Several persons hold property as tenants in common. One of the owners dies. His interest in the property will: Select one: a. Pass to his heirs. b. Pass to the remainderman. c. Be equally divided among the other owners. d. Be divided between the other owners in direct proportion to their ownership interest.

a. Pass to his heirs.

A tenancy by the entireties will be severed by divorce. Select one: a. True b. False

a. True

A joint tenant wants to sell his interest in a real property without the consent of the other joint tenants. Can he do this? Select one: a. Yes, because each joint tenant has separate ownership rights and can act independently of the other tenants. b. Yes, because survivorship is present in joint tenancy. c. No, because a single property titled in joint tenancy requires all co-owners to act together. d. No, because the unity of interest in joint tenancy demands that all co-owners act together.

a. Yes, because each joint tenant has separate ownership rights and can act independently of the other tenants.

In a tenancy by the entireties, each spouse owns a 50% interest in the property. Select one: a. True b. False

b. False

If one owner in a joint tenancy sells his interest, the purchaser will be a joint tenant as well. Select one: a. True b. False

b. False The purchaser becomes a tenant-in-common.

In which of the following does a landlord/tenant relationship exist? Select one: a. Joint tenancy. b. Tenancy at will. c. Tenancy by the entirety. d. Severalty.

b. Tenancy at will.

Two unrelated persons own a property together. These owners could will their ownership share to their heirs if title was held in: Select one: a. Joint tenancy only. b. Tenancy in common only. c. Both joint tenancy and tenancy in common. d. Neither joint tenancy nor tenancy in common.

b. Tenancy in common only.

There are three owners of a property. They own 10%, 20% and 70% respectively. What type of ownership do they have? Select one: a. Joint tenancy. b. Tenancy in common. c. Tenancy by the entireties. d. Ownership in severalty.

b. Tenancy in common.

What is the most common form of ownership between two or more individuals? Select one: a. Joint tenancy. b. Tenancy-in-common. c. Community property. d. Tenancy by the entireties

b. Tenancy-in-common.

What is the one unity in a tenancy-in-common ownership? Select one: a. interest b. possession c. time d. title

b. possession

Which of the following forms of ownership are available only to married couples? Select one: a. Tenancy by the entireties. b. Community property. c. Both tenancy by the entireties and community property. d. Neither tenancy by the entireties nor community property.

c. Both tenancy by the entireties and community property.

Two brokers form a partnership, each with a 50% interest. One is the general managing partner and the other is a sales broker. What type of ownership do the brokers have? Select one: a. Tenancy in common. b. Limited partnership. c. General partnership. d. Joint tenancy.

c. General partnership.

Jones, Smith, and Williams own property as joint tenants. Which of the following is true? Select one: a. If Jones dies, Smith and Williams will own property as tenants by the entireties. b. If Jones dies, Smith and Williams will own the property as tenants in common. c. If Jones and Smith die, Williams will own the property in severalty. d. If any one of the owners die, the property goes to the heirs of the deceased owner

c. If Jones and Smith die, Williams will own the property in severalty.

If a husband and wife own property as tenants by the entireties, which of the following statements is true? Select one: a. Either husband or wife may dispose of their own interest, without approval of the other. b. The wife of the husband may, alone, sell the property. c. If either dies, the property by law passes to the surviving spouse. d. None of these statements is true.

c. If either dies, the property by law passes to the surviving spouse.

Bob and Carol and Ted and Alice bought a property as joint tenants many years ago. Alice is now the sole survivor of this group. How does Alice own this property? Select one: a. As sole joint tenant. b. As a tenant-in-common. c. In severalty. d. As a devisee.

c. In severalty.

A mother left her house in her will to her two children, Tom and Mary. Each child to receive a 50% interest with rights of survivorship. What type of ownership will Tom and Mary have? Select one: a. Tenants by the entireties. b. Tenants in common. c. Joint tenants. d. Tenants in severalty.

c. Joint tenants.

Which of the following best describes ownership in severalty? Select one: a. Several persons own one piece of real property. b. One person owns several pieces of real property. c. One person alone owns real property. d. Property owned by several members of the same family.

c. One person alone owns real property.

Ownership as tenants in common and ownership as joint tenants have only one thing in common, aside from the fact that there is more than one party involved in each. What is the only common element in these two types of ownership? Select one: a. Time. b. Interest. c. Possession. d. Title.

c. Possession.

Which of the following types of ownership CANNOT be created by operation of law, but must be created by the parties' expressed intent? Select one: a. community property b. tenancy-in-common c. joint tenancy d. tenancy at will

c. joint tenancy

A tenancy in severalty exists when... Select one: a. husband and wife own property together. b. any related persons hold real estate together. c. one person owns real estate. d. the tenant has the right to sublet.

c. one person owns real estate.

Three people bought a property together as joint tenants. Two of them have died. The surviving owner now owns the property: Select one: a. As sole joint tenant. b. Together with the heirs of the deceased owners. c. In tenancy by the entireties. d. As tenant in severalty.

d. As tenant in severalty.

If a husband or a wife is the sole owner of real property, he or she owns the property: Select one: a. As a tenant in common. b. As a tenant by the entireties. c. As a joint tenant. d. In severalty.

d. In severalty.

The owner of an undivided interest in land with no right of survivorship owns it as a Select one: a. tenant-in-common. b. joint tenant. c. tenant in severalty. d. either tenancy-in-common or tenancy in severalty.

d. either tenancy-in-common or tenancy in severalty.

The unities of time, title, interest, and possession are required in order to create: Select one: a. an undivided interest in the property as a whole. b. separate ownership. c. concurrent ownership. d. the right of survivorship.

d. the right of survivorship.