Real Property Videos Assessments 1-9

Under the Doctrine of Worthier Title, a conveyance by a grantor of "to A for life, then to my heirs" creates what type of interest in the grantor's heirs? A. Executory interest B. Contingent remainder C. Vested remainder D. No interest

D. No interest

Which of the following statements regarding the Rule Against Perpetuities is TRUE? A. A validating life is a person who tells us whether the interest must vest or fail within the perpetuities period. B. A validating life may be born after the interests were created. C. A person cannot validate her own interest. D. If there is no validating life, then the interest satisfies the Rule Against Perpetuities.

A. A validating life is a person who tells us whether the interest must vest or fail within the perpetuities period.

Which of the following statements regarding an executory interest is FALSE? A. An executory interest is a future interest that follows a life estate. B. An executory interest ends an earlier interest upon the happening of an event. C. An executory interest vests in someone other than the grantor. D. An executory interest is a future interest.

A. An executory interest is a future interest that follows a life estate.

Which of the following statements regarding partition is TRUE? A. Tenants in common as well as joint tenants generally have a right to compel partition. B. Agreements by co-tenants not to partition are not enforceable. C. Tenants by the entirety have the unilateral right to partition. D. Property may be partitioned in kind (i.e., physical division) if a partition by sale is not practical or not fair to all parties.

A. Tenants in common as well as joint tenants generally have a right to compel partition.

FILL IN THE BLANKS. Ownership of property interests is divided in time between _________ and _________. A. present interests, future interests B. present interests, fee-simple interests C. fee-simple interests, future interests D. fee-simple interests, possessory estates

A. present interests, future interests

Which of the following statements regarding contingent and vested remainders is FALSE? A.The Rule Against Perpetuities does not apply to contingent remainders. B. The Rule Against Perpetuities applies to a vested remainder subject to open. C. A remainder is contingent if it is subject to a condition precedent. D. A remainder is contingent if it is created in a grantee that is not ascertained.

A.The Rule Against Perpetuities does not apply to contingent remainders.

Under the Rule in Shelley's Case, a conveyance "to Alice for life, then to Alice's heirs" creates what kind of interest for Alice? A. Life estate B. Fee simple C. Remainder D. Executory interest

B. Fee simple

Which of the following statements regarding the severance of a joint tenancy is FALSE? A. A joint tenancy that is severed is converted into a tenancy in common. B. In a majority of states, the granting of a mortgage by a joint tenant severs the joint tenancy. C. An inter vivos transfer severs a joint tenancy. D. A mortgage granted in a jurisdiction that looks on it as a lien does not destroy the joint tenancy.

B. In a majority of states, the granting of a mortgage by a joint tenant severs the joint tenancy.

Which of the following statements regarding a joint tenancy is FALSE? A. Joint tenants each have the right to use the whole property. B. Joint tenancy is the default concurrent interest. C. A surviving joint tenant automatically takes a deceased joint tenant's interest. D. If a living joint tenant transfers all or part of his joint tenancy interest, then the right of survivorship to that interest is destroyed.

B. Joint tenancy is the default concurrent interest.

Which of the following statements regarding the Rule Against Perpetuities is FALSE? A. The Rule Against Perpetuities does not apply to a property interest that passes from one charity to another charity. B. The Rule Against Perpetuities does not apply to a property interest that passes from one charity to a non-charity. C. The Rule Against Perpetuities does not apply to an option held by a current tenant to purchase a fee interest in leasehold property. D. The Rule Against Perpetuities does not apply to right of first refusal in a commercial transaction.

B. The Rule Against Perpetuities does not apply to a property interest that passes from one charity to a non-charity.

FILL IN THE BLANKS. A future interest held by a grantor after a fee simple determinable is a _________; a future interest held by a grantor after a fee simple subject to a condition subsequent is a _________. A. right of entry, possibility of reverter B. possibility of reverter, right of entry C. right of entry, executory interest D. possibility of reverter, executory interest

B. possibility of reverter, right of entry

Which of the following words or phrases does NOT create a fee simple determinable? A. "So long as" B. "While" C. "But if" D. "During"

C. "But if"

Which of the following would most likely NOT create a fee simple? A. "To P" B. "To P and his heirs" C. "To P for life" D. "To P in hopes that she gives the land to F upon her death"

C. "To P for life"

Which of the following statements regarding the rights and obligations of concurrent owners is FALSE? A. A co-tenant does not have the right to be reimbursed from co-tenants for necessary repairs. B. A co-tenant does not have the right to be reimbursed from co-tenants for improvements. C. A co-tenant does not have the right to collect contribution from other co-tenants for paying more than his portion of operating expenses. D. A co-tenant must account to the other co-tenants for rent received from third parties.

C. A co-tenant does not have the right to collect contribution from other co-tenants for paying more than his portion of operating expenses.

Affirmative waste is defined as which of the following? A. An increase in the value of the property through the voluntary conduct of the current possessor B. A decrease in the value of the property that occurs through the inaction of the current possessor C. A decrease in the value of the property that occurs through the voluntary conduct of the current possessor D. An increase in the value of the property through the inaction of the current possessor.

C. A decrease in the value of the property that occurs through the voluntary conduct of the current possessor

Which of the following statements regarding future interests is FALSE? A. A possibility of reverter is a future interest held by the grantor. B. A right of entry is a future interest held by the grantor. C. A right of entry is a future interest that vests automatically. D. A possibility of reverter is a future interest that vests automatically.

C. A right of entry is a future interest that vests automatically.

Which of the following statements regarding a tenancy in common is TRUE? A. The maximum number of tenants in common is three. B. Tenants in common cannot possess unequal shares of the property. C. Any conveyance to more than one person is presumed to be a tenancy in common. D. A tenancy in common is freely transferable during the tenant-in-common's life, but cannot be transferred at death.

C. Any conveyance to more than one person is presumed to be a tenancy in common.

When is a future interest devised by a will created? A. At the time that the testator indicates an intent to create the future interest B. At the time that the will is executed C. At the testator's death D. At the devisee's death

C. At the testator's death

Which of the following transfers, if made by the holder of a life estate, is NOT effective? A. Sells the life estate to someone else B. Gives the life estate to someone else C. Devises the life estate by will to someone else D. Leases the property to someone else

C. Devises the life estate by will to someone else

Which of the following statements regarding the transfer of property is FALSE? A. Property can be transferred by sale. B. Property can be transferred by gift. C. Property can be transferred upon death by devise, but only to close family members. D. Property can be transferred upon death by intestate succession.

C. Property can be transferred upon death by devise, but only to close family members.

Which doctrine or rule closes a class so the Rule Against Perpetuities does NOT apply? A. Doctrine of Worthier Title B. Rule in Shelley's Case C. Rule of Convenience D. Doctrine of Equitable Conversion

C. Rule of Convenience

What is the name of the most common modern approach that has replaced the traditional Rule Against Perpetuities? A. The "90-year" rule B. The Uniform Act of Perpetuities C. The "wait and see" approach D. Cy Pres

C. The "wait and see" approach

Which of the following statements regarding waste is FALSE? A. Permissive waste is caused by neglect toward the property that results in a decrease in the value of the property. B. Ameliorative waste is caused by change in the use of the property that increases the value of the property. C. Waste cannot occur with respect to parties who have the right to concurrently possess the property. D. Waste is not unique to estate and future interests.

C. Waste cannot occur with respect to parties who have the right to concurrently possess the property.

FILL IN THE BLANKS. A future interest in a third party that divests a prior vested interest in a grantor is a ____________. A future interest in a third party that divests a prior vested interest in a grantee is a __________. A. vested remainder, shifting executory interest B. vested remainder, springing executory interest C. springing executory interest, shifting executory interest D. shifting executory interest, springing executory interest

C. springing executory interest, shifting executory interest

The Rule Against Perpetuities does NOT apply to which of the following? A. Executory interests B. Contingent remainders C. Vested remainders subject to open D. Life estates

D. Life estates

Which of the following statements regarding tenancy by the entirety is FALSE? A. Ownership of property through a tenancy by the entirety is restricted to married couples. B. Joint tenants by the entirety must be married when the conveyance occurs. C. Neither party to a tenancy by the entirety can encumber the property without the consent of the other. D. Neither party to a tenancy by the entirety can encumber the property without the consent of the other.

D. Neither party to a tenancy by the entirety can encumber the property without the consent of the other.

Which of the following statements regarding the Rule of Convenience is TRUE? A. The Rule applies to contingent remainders. B. The Rule closes a class when any member of the class is entitled to future possession. C. The Rule closes a class when all members of the class are entitled to immediate possession. D. The Rule is a class-closing mechanism to avoid application of the Rule Against Perpetuities to a class gift.

D. The Rule is a class-closing mechanism to avoid application of the Rule Against Perpetuities to a class gift.

If a portion of a transfer is found to violate the Rule Against Perpetuities, how will courts treat the transfer? A. The entire transfer is invalid. B. The property always reverts back to the grantor. C. The transfer is valid if consistent with the grantor's intent. D. The portion of the transfer that violates the rule is void, and the rest is valid.

D. The portion of the transfer that violates the rule is void, and the rest is valid.

Which unity is NOT unique to a joint tenancy, but instead is also a characteristic of a tenancy in common? A. Unity of time B. Unity of title C. Unity of interest D. Unity of possession

D. Unity of possession

FILL IN THE BLANK. If two tenants hold a tenancy in common, the co-tenant with a 1/3 share has the right to possess _____ of the property. A. 1/3 B. 1/2 C. 2/3 D. all

D. all