Question 1

A possibility of reverter is the complementary estate to a:

Accepted Answer

A possibility of reverter is the complementary estate to a qualified fee, meaning that the property may revert to the grantor if certain conditions are met or if a specified event occurs.

Question 2

Maureen agrees to sell her interest in the farm to Joe. Maureen and her husband, Bill, hold the property as tenants by the entireties. What consequence?

Accepted Answer

Tenancy by the entireties is a form of ownership that can only exist between spouses, where each owns the entire property. Neither party can sell their interest without the consent of the other, making any attempted sale by Maureen alone ineffective.

Question 3

Millie, a tenant, wrongfully abandons her apartment after six months, even though there are six months left on her lease. If there is no survival clause in the lease, would the landlord be able to hold Millie liable for rent?

Accepted Answer

The answer of Millie, a tenant, wrongfully abandons her apartment...

Question 4

If Andrew is childless, which of the following present grants would be considered as creating a contingent remainder?

Accepted Answer

Choice B creates a contingent remainder because it specifies that the property will go to Andrew's first-born son if he has one, but if not, it will go to the Catholic Church. This makes the future interest in the property contingent on Andrew having a male child.

Question 5

Explain what is meant by an implied warranty of habitability and how this doctrine has changed the common law approach with respect to residential leases.

Accepted Answer

The answer of Explain what is meant by an implied...

Question 6

A future interest remaining in a grantor of property who transfers away less than his entire interest is called a:

Accepted Answer

A reversion is the interest that remains with a grantor after the grantor has transferred away a lesser estate than the grantor has. If the lesser estate ends, the property interest reverts back to the grantor or the grantor's heirs.

Question 7

Izzy rents a single-family home for one year starting June 1. If the house burns down in September, the common law requires:

Accepted Answer

The answer of Izzy rents a single-family home for one...

Question 8

Agatha, Betty, and Clara are sisters who own 300 acres of land as joint tenants. 
a. What interest does each of them have in the parcel of land? 
b. If Betty dies, what happens to her share of the 300 acres? 
c. If Clara sells one-half of her interest to Diane, what interest does Diane acquire in the 300-acre parcel?

Accepted Answer

The answer of Agatha, Betty, and Clara are sisters who...

Question 9

The greatest ownership interest a person may have in real property is:

Accepted Answer

Fee simple absolute provides the highest degree of ownership interest in real property, granting the owner full control over the property and the right to use it in any legal manner, with the ability to sell, lease, or will it without restriction.

Question 10

Jack, a landlord, sells his apartment house to Bob, who knows that each of the four apartments is rented. May Bob tell the tenants to vacate and install his own tenants?

Accepted Answer

When a property is sold, the leases remain in effect under the new owner until they naturally expire, unless the lease specifies otherwise. Bob must honor the existing leases until they end.

Question 11

If Brantly grants Anderson a life estate in Brantly 's property for Anderson 's lifetime and then Brantly dies, what happens to the land when Anderson dies?

Accepted Answer

When Anderson, the life tenant, dies, the property reverts to Brantly's heirs because a life estate lasts only for the lifetime of the grantee, and upon the grantee's death, the property passes according to the original grantor's estate plan or heirs if not otherwise specified.

Question 12

Ed signs a ten-year lease with a survival clause. If Ed is evicted after two years, he will have to pay:

Accepted Answer

A survival clause in a lease means that certain obligations survive the termination of the lease. If Ed is evicted, he would typically be responsible for damages equal to the difference between the rent specified in the lease and the rent the landlord is able to obtain from reletting the premises. This is to compensate the landlord for the loss of income due to the early termination of the lease, while also considering any income the landlord is able to generate from reletting the property.

Question 13

Landlords can evict a tenant if:

Accepted Answer

Landlords can evict a tenant if they fail to pay rent, if the lease has expired and the tenant refuses to move out, or if the tenant violates lease provisions regarding pets and refuses to remedy the situation. Therefore, all of these options are valid reasons for eviction.

Question 14

An interest that arises in a third party in the future is called a(n):

Accepted Answer

A remainder is an interest in property that becomes possessory when a preceding estate created by the same instrument terminates. This interest is often given to a third party and does not take effect until the end of a life estate or some other particular estate.

Question 15

a. What is a fee simple? 
b. What is a life estate? 
c. If Ed grants a life estate to his wife, what interest does he retain? Explain.

Accepted Answer

The answer of a. What is a fee simple? 
b....

Question 16

Which of the following is NOT an example of concurrent ownership?

Accepted Answer

A lease between a landlord and a tenant is not an example of concurrent ownership because it involves a contractual agreement where one party (the landlord) grants the other party (the tenant) the right to use and occupy property for a certain period of time, rather than both parties owning the property together at the same time. Concurrent ownership refers to situations where two or more parties hold ownership interests in a property simultaneously, such as in joint tenancy, tenancy by the entireties, and tenancy in common.

Question 17

The All-Power Gas and Electric Company cleared a right of way across Larry's land and put up a power line, which it has maintained for the past 20 years. Now the company wants to replace the old line with a new one, and Larry has decided he doesn't want them on his land. Does the company have a recognizable interest in Larry's land? Can Larry keep the company from installing a new line?

Accepted Answer

The answer of The All-Power Gas and Electric Company cleared...

Question 18

Edith, Elsa, and Ellen are sisters who own 100 acres of land as tenants in common. Discuss the interest each has in the real estate.

Accepted Answer

The answer of Edith, Elsa, and Ellen are sisters who...

Question 19

If a monthly lease does not specifically provide for a date the rent is due, the tenant must pay at:

Accepted Answer

The answer of If a monthly lease does not specifically...

Question 20

Edith's grandfather conveyed to Edith the right to the family farm after her grandmother dies. This is called:

Accepted Answer

A vested remainder is the correct term because it is a future interest given to a specific person (Edith) that is certain to become possessory upon the expiration of the prior estate (after her grandmother dies), and not subject to any condition precedent beyond the natural termination of the prior estate.

Quiz 48: Interests in Real Property