
Unit 3 REAL ESTATE Class Assignment
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Other
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12th Grade
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Practice Problem
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Easy
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1.
FLASHCARD QUESTION
Front
Anika recently inherited a piece of property from her grandparents. She learned that this property is protected from creditors under certain conditions. What is this type of property called?
Back
A type of life estate
2.
FLASHCARD QUESTION
Front
If Mason grants a piece of land to Kai to be used as a park, what does Mason retain in a fee simple determinable if it ceases to be used as a park?
Back
Reversionary Interest
3.
FLASHCARD QUESTION
Front
What must Daniel do to assert his right if the condition is violated on his fee simple subject to a condition subsequent?
Back
Legal action in court
4.
FLASHCARD QUESTION
Front
Sophia is considering buying a piece of land. However, the current owner wants to retain the right to use the land for the next five years. What is this arrangement an example of?
Back
A right that may become effective in the future
5.
FLASHCARD QUESTION
Front
A life estate is a freehold estate and it is....?
Back
An ownership interest lasting for the life of a specified person
6.
FLASHCARD QUESTION
Front
Mason is a life tenant of a property. Can Mason sell their interest in the property?
Back
Yes, but it is limited to the duration of the life estate.
7.
FLASHCARD QUESTION
Front
Ava's grandmother left her a beautiful old house to live in for the rest of her life. Who will receive the property after Ava's life estate ends?
Back
The remainderman
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