Test 8: Property Rights, Estates and Tenancies
Which of the following would be considered a property improvement ?
A chicken coop permanently attached to land
Which of the following is true of a cooperative ?
A cooperative may hold an owner liable for the unpaid operating expenses of other tenants .
Which of the following is true of a homestead ?
A homestead interest cannot be conveyed by one spouse .
A tenant continues to occupy an apartment after lease expiration without the consent of the landlord . This type of estate is called
An estate at sufferance
Which of the following best describes a " fixture ? "
An item of personal property that has been converted to real property
Ned grants his sister Alice an estate for as long a she lives . Her descendants , however , cannot inherit the estate . What kind of estate is it ?
An ordinary life estate
A tenant without a lease has been sending the landlord monthly rent checks , and the landlord continues to accept the payments . What kind of leasehold estate exists ?
BEstate from period to period
Which of the following types of leasehold estate lacks a specific term ?
Estate at will .
Two people own a house , each having an undivided equal interest . Which of the following best describes what each party owns ?
Fifty percent of the estate consisting of the indivisible whole of the real property
Under what conditions can two individuals own a property as tenants by the entireties ?
If they are married
their interest When a tenant in common dies , what happens to the tenant's interest in the estate ?
It passes by probate to the deceased tenant's heirs
When a joint tenant dies , what happens to the tenant's interest in the estate ?
It passes to the surviving joint tenants .
Which of the following life estates created by operation of law rather than by the owner ?
Legal life estate
Paul gives Dennis a life estate and designates Lucy as the remainderman . Dennis sells the property to Allen . When Dennis dies who owns the property as a fee simple estate ?
Lucy
Littoral rights apply to which of the following ?
Navigable lakes , seas , and oceans
The " four unities " required to create a joint tenancy include which of the following conditions ?
Parties must acquire respective interests at the same time .
Riparian rights concern which of the following bodies of water ?
Streams and rivers .
In a separate property state , John marries Patricia . Prior to the marriage John owned an SUV . During the marriage , John bought a Buick , John and Patricia bought a second property with money earned from Patricia's job , and each individual received a motorcycle from Patricia's uncle as a gift . What property will be split during the divorce ?
The Buick and the second property
When real property is held in a land trust , who controls the property ?
The beneficiary
Louis owned a boat and a house before marrying Barbara . While she was single , Barbara owned a new car . The two got married and bought a second home . As a wedding present , Barbara's father bought Louis a motorcycle . Under the law of community property , what property can Louis sell without his wife's consent or signature
The boat house and motorcycle
Which of the following best describes the physical boundaries of land ?
The center of the earth and infinite space above the earth
Which of the following is true of a tenancy in common ?
The owners enjoy an indivisible interest
Katelyn rents an apartment for one year . What rights has she acquired under the leasehold ?
The right to possess and use the premises
Which of the following is true of a joint tenancy ?
The tenants have an equal and indivisible ownership interest .
When an estate is held in party holds legal title ?
The trustee
A waterfront homeowner has just died . What will become of the water rights the owner enjoyed while living in the home ?
They transfer with the property when the property is sold .
Which of the following would be defined as real estate as opposed to real property ?
Wells driveways and signs on a parcel of land
A homeowner is very upset over a drone that a neighbor flies over his house . He takes his case to court to end this possible violation of rights . Does he have a case , and on what basis ?
Yes . The drones infringe on his air rights
If the duration of an owner's rights in an estate is not determinable , the owner has
a freehold estate
Homestead estates are examples of
a legal life estate
The right to control land usage by zoning and eminent domain is an example of
aa public interest
A real property interest that includes the right to possess is considered
aan estate in land .
An estate from period - to - period will continue as long as
athe tenant makes , and landlord accepts , regular rent payments .
Which of the following would be considered community property ?
bought Income derived from community property during the marriage
Unlike tenants in common , joint tenants
cannot will their interest to a party outside the tenancy .
The " bundle of rights " refers to a set of rights
enjoyed by the owner of a property
An estate at will
lessee's terminates on the death of lessor or lessee .
The right to encumber a property means that the owner can
pledge the property as collateral for debt
Carissa and Robert acquire a condominium as tenants in common . In this circumstance , Carissa can
sell her interest to a third party without the consent of Robert
Tanya buys a 4 - bedroom condominium . As the new owner , she has the right to
sell or mortgage the unit without impediment from individual owners of neighboring units .
A tenant in common can
sell or transfer his interest without the consent of the other tenants in common .
By contrast to a condominium , the owner of a cooperative owns
shares in a corporation or association and a proprietary lease in a physical unit .
Six people have identical rights in a property and enjoy an indivisible interest . However any of the transfer his / her interest without consent of the others . This form of ownership is a
tenancy in common
A fee or life estate is held by an individual . This form of estate is referred to as a ( an )
tenancy in severalty
The distinguishing feature of a leasehold estate is
that the estate limited by a lease term .
In a cooperative , real property is owned only by
the corporate entity of the cooperative association .
A retired couple has just bought a retirement home with a pier on a large lake . In this case the retirees ' water rights extend to
the high water mark of the body of water at the shoreline .
If a joint tenant sells his or her interest to an outside party ,
the new owner becomes a tenant in common with the other owners , who continue r hold a joint tenancy with each other and a tenancy in common with the new owner
An item may be considered personal property as opposed to real property provided that
the owner intended to remove it after a period of time
A condominium owner's share of maintenance and operations expenses are based on
the unit's pro rata share of the property value as defined in the declaration .
In contrast to a tenancy in common , in a joint tenancy
there is a single title to the property .
Which of the following best describes the legal concept of personal property ?
transaction Any item of property that is not definable as real property
property owner leases 60 acres of agricultural land for a renewable period of 5 years . In the context of real estate rights , this lease represents a ( n )
transfer of a portion of the bundle of rights
In a time - share freehold , owners acquire
undivided interests in the property as tenants in common