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