Texas Principles of Real Estate 1: Chapter 11 Quiz

Partition

A division of real or personal property or the proceeds therefrom among co-owners is known as...?

All of the above

A joint tenancy is terminated when which of the following ceases to exist...? -Interest -Possession -Title -All of the above

Tenancy in Common

An ownership of realty by two or more persons, each of whom has an undivided interest, without the "right of survivorship" is known as...?

Foreclosure

Co-ownership in a property can be terminated by which of the following...?

Ownership is divided equally among the owners

How is ownership in a community property between a husband and wife divided...?

Community Property

Property acquired by husband and/or wife during a marriage when not acquired as the separate property of either spouse is known as...?

Severalty Ownership

Property owned by one person only is referred to as...?

Right of survivorship

The right of a surviving tenant or tenants to succeed to the entire interest of the deceased tenant is known as...?

Limited Liability Company

This business structure combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation...?

All of the above

Which of the of the following unities is required to create a joint tenancy...? -Time -Title -Interest -All of the above