Deck 2: Basic Principles of Real Estate Law

Question 1

The following type of joint ownership requires the presence of the four unities:

A) tenancy by the entirety
B) tenancy in common
C) joint tenancy

Answer 1

C

Question 2

The holder of a leasehold estate possesses all of the following property rights except:

A) right of possession
B) right of disposition
C) right of use

Answer 2

B

Question 3

____________ means acquiring title through taking possession of land that belongs to another without the owner's consent and retaining possession for a statutory period of time.

Answer 3

Adverse possession

Question 4

Today, in most states, this type of leasehold is disallowed:

A) tenancy at sufferance
B) tenancy from period to period
C) tenancy at will

Question 5

Explain the following:
(a) surface rights,
(b)air rights, and
(c)subsurface rights.

Question 6

If an estate for years is created for a period of more than one year, the lease conveying the interest must be in writing in order to be enforceable.

Question 7

If the grantor specifes to whom title to real property passes upon termination of a life estate, the person so indicated is referred to as a ____________.

Question 8

The following type of joint ownership does not include the right of survivorship:

A) tenancy by the entirety
B) tenancy in common
C) joint tenancy

Question 9

Littoral rights are those pertaining to a landowner whose land abuts a river.

Question 10

____________ rights are those rights pertaining to a landowner whose land abuts a lake, ocean, or sea.

Question 11

Personal property is transferred by a document called a ____________.

Question 12

Curtesy rights allow a widow a certain percentage of her deceased husband's property.

Question 13

Deine homestead property, and list the three contexts in which homestead property is important.

Question 14

Explain the purpose of a UCC-1 financing statement.

Question 15

In community property states, community property includes:

A) all personal property acquired during marriage by either spouse
B) all real property acquired during marriage by either spouse
C) all personal and real property acquired during marriage by either spouse

Question 16

The greatest estate one may hold is a fee simple absolute.

Question 17

Both personal and real property are transferred by deed.

Question 18

List four methods of acquiring real property.

Question 19

A ____________ is an object that at one time was personal property but, through the process of attachment to real property, has become part of the real property.