Property Ownership (Test set)

Sherman, who owns property in a life estate, neglects the property, significantly diminishing its value. This is called ______.

Act of Waste

Property with ownership by more than one person is known as ______.

Co-ownership

require that most property acquired by a married couple—or one spouse—during their marriage be considered community property. (Property obtained via inheritance, gift, or personal injury are exceptions to this rule.)

Community property rights

Which of the following is a life estate in property held by a widow?

Dower

When a property owner dies without a will and there are no heirs, ownership of the property may pass to the state through which process?

Escheat

Non-lawful possession after the expiration of a lease is called ______.

Estate at sufferance

Mark has been openly using a property without the owner's permission for the last 30 years. What else must he do to meet the adverse possession requirements?

Have a reasonable belief in his right to possess the property.

Which form of real property ownership (for owners other than married couples) means there's equal ownership shares with undivided possession rights?

Joint tenancy

Co-Ownership

Property with ownership by more than one person

To claim adverse possession, a possessor must file an action to ______.

Quiet title

where each has an undivided interest in the entire property. If one dies, the other owns the entire property. If the couple divorces, their ownership automatically becomes a tenancy in common.

Tenancy by the Entirety

Where permitted, married couples usually hold property as ______.

Tenancy by the entirety

A pair of siblings holds title to a property. What is the most likely form of ownership they hold, unless otherwise specified?

Tenants in common

If property is held by two or more owners as tenants in common, the interest of a deceased co-owner will pass to ______.

The heirs of the deceased

Joint Tenancy

provides equal ownership shares with undivided possession rights and requires four ownership unities: time, title, interest, and possession. Joint tenancy includes the right of survivorship.

Tenant in Common

there is no right of survivorship. When a co-owner dies, interest can pass according to the decedent's will, and the beneficiary becomes a tenant in common.