Property, Estate,Ownership-Mulitple Choice Questions

c.estate of inheritance-Freehold estates are real property estates of ownership. This type of estate continues for an indefinite period and is sometimes called an estate of inheritance.

"Of indefinite duration" is a phrase that describes an: a.tenancy for years. b.periodic tenancy. c.estate of inheritance. d.less-than-freehold estate.

d.unenforceable-A contract to sell community real property must be signed by both spouses. If it is signed by only one, the contract cannot be enforced.

A contract to sell community real property made by one spouse only is: a.valid. b.illegal. c.enforceable. d.unenforceable.

b.real property.-Water on the surface, flowing in a stream or underground (percolating) is real property. If it is taken and bottled, then it becomes personal.

A running stream is considered: a.personal property. b.real property. c.a fixture. d.a chattel.

d.valid, but Hunter takes the property subject to Baker and Cooks right to share in the enjoyment and possession of the property-Each tenant-in-common has the right to use the entire property. Therefore, Turner cannot give exclusive possession to Hunter because the other tenants in common did not agree to or sign the lease. Tenants in common are free to sell, convey (sell or lease), or mortgage their own interest.

Baker, Cook, and Turner own equal interests in a parcel of land as tenants incommon. Without the consent of the others, Turner leased the entire parcel to Hunter for agricultural purposes. Such a lease would be: a.valid and binding for all three co-tenants. b.invalid because land owned by multiple owners may not be leased. c.valid, provided that the term did not exceed 51 years. d.valid, but Hunter takes the property subject to Baker and Cooks right to share in the enjoyment and possession of the property.

a.Lyn owns 2/3 and Pat owns 1/3 as tenants in common-A person may sell a joint tenancy interest, but may not will it. When Chris sold her interest to Pat, Pat became a tenant in common. Bell and Lyn remained as joint tenants. When Bell died, Bell's third was automatically conveyed to Lyn, So Lyn ends up owning 2/3 and Pat 1/3—both as tenants in common.

Chris, Bell, and Lyn took title to a property as joint tenants. Chris sold her share to Pat, and then Bell died. Who owns the property now? a.Lyn owns 2/3 and Pat owns 1/3 as tenants in common. b.Lyn, Pat, and Bell's heirs own the property 1/3 each as joint tenants. c.Lyn owns 2/3 and Pat owns 1/3 as joint tenants. d.Lyn, Pat, and Bells's heirs own the property 1/3 each as tenants-in-common

c.tenancy in common-The unequal interests disallow community property or joint tenancy. Severalty is ownership by an individual.

David left his son 2/3 interest and left his son's wife 1/3 interest in real property jointly and without the right of survivorship. They will take title as: a.community property. b.joint tenancy. c.tenancy in common. d.severalty.

a.Ownership interests are equal-A joint tenancy requires equal interests. Community property ownership is also an equal 50/50 interest.

How are a joint tenancy interest and a community property interest alike? a.Ownership interests are equal b.Only a husband and wife are involved c.Both owners must join in any conveyance d.Both provide the right of survivorship

a.rights or interests in the thing owned. - Property refers to the bundle (collection) of rights a person has in the thing owned.

In a technical sense, the term "property" refers to: a.rights or interests in the thing owned. b.a freehold estate. c.personal property only. d.land and buildings only.

b.reversion-The rights of possession and use would return to John, so John has a reversionary interest. A remainder interest would be one that goes to a third party.

John conveys a portion of his fee estate to Fred that is for a term less than his own, John's own interest would be: a.remainder. b.reversion. c.vested sufferance. d.fee defeasible

b.Time of attachment-In addition to (a), (c), and (d), the other two general tests are the relationship between the parties and an agreement between the parties.

Of the following, which is not one of five general tests of a fixture? a.Method of attachment b.Time of attachment c.Adaptability of the item d.Intention of the parties

d.sole ownership-Property owned by one person or entity is known as sole and separate, or ownership in severalty

Ownership in severalty would most likely involve: a.a fee simple defeasible estate. b.tenancy in common. c.ownership with other parties. d.sole ownership.

b.survivor ship-These are four unities of a joint tenancy. If formed properly, a joint tenancy creates a right of survivorship.

The words "time, title, interest, and possession" are most closely related to: a.severalty. b.survivorship. c.sole ownership. d.adverse possession

c.Tenancy for years-A tenancy for years is one of the four types of nonfreehold estates. Choices (a), (b), and (d) are freehold estates.

Which of the following is a nonfreehold estate? a.Life estate b.Estate of inheritance c.Tenancy for years d.Estate in remainder

d.All of the above-An appurtenance is anything used with the land for its benefit, such as easements and stock in a mutual water compa

Which of the following is considered appurtenant to land? a.Something acquired by legal right and used with the land for its benefit b.A right-of-way over another's adjoining land c.Stock in a mutual water company d.All of the above

d.An existing mortgage-Easements, mineral rights, and trees are all real property.

Which of the following is considered personal property? a.An easement b.Minerals c.Trees growing in a forest d.An existing mortgage

b.Leases-A lease, also known as a leasehold estate, is a personal property estate of a tenant.

Which of the following is considered personal property? a.Minerals b.Leases c.All improvements to land d.Trees growing in a natural fores

a.Bearing wall in a single-family residence-Crops that are intended to be harvested and trade fixtures are personal property.A mobilehome not attached to a foundation, including its contents, is considered personal property.

Which of the following is considered real property? a.Bearing wall in a single-family residence b.Grape crop that is governed by a sales contract c.Trade fixtures installed by a tenant that are removable without damage d.Built-in stove in a mobile home with no permanent foundation

b.Airspace above the land--Land includes the surface, the space above, and the space beneath for an indefinite distance. Timber, crops, and landfill soil are movable personal property.

Which of the following is considered real property? a.Timber b.Airspace above the land c.Unharvested crops under a prior sales contract d.Landfill soil being hauled

c.Riparian property owners own the water and may use as much as they want.-The owner of property bordering a stream or river has riparian rights (a riparian owner). Riparian property owners have reasonable use of flowing water, providing it does not injure other riparian landowners. Riparian rights have been ruled in court to be real property. Such rights, like most others, are not immune from actions such as prescription and condemnation.

Which of the following statements concerning riparian rights is not correct? a.Riparian property owners have reasonable use of flowing water. b.The owner of property bordering a stream or river has riparian rights. c.Riparian property owners own the water and may use as much as they want. d.The owner of adjacent land may not lawfully divert all available water and thereby deprive a riparian owner of water.

d.Personal property can become real property. - Personal property becomes real property if it is permanently affixed to land or improvements.

Why do disputes arise regarding ownership of personal property? a.Personal property can be pledged. b.Personal property can be alienated. c.Personal property can be hypothecated. d.Personal property can become real property.