
Principles of Real Estate I Unit 11
Authored by Stephanie Dangelo
Professional Development
12th Grade
Used 2+ times

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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which BEST describes ownership of a time-share?
The purchaser owns a right to use the facilities in a specified project(s) for a specified length of time for a specified number of years.
Two or more purchasers become members of a business organization and receive a proprietary lease to a condominium for the life of the corporation.
Two or more people or firms join together to make and operate a real estate investment.
An association of two or more people operates a business as co-owners and share in the business profits and losses.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Howard and Tinker purchased a parcel of real estate. The seller's deed received at the closing conveyed the property "to Howard Evers and Tinker Chance" without further explanation. Thus Howard and Tinker
are joint tenants.
are tenants in common.
hold community property rights.
hold equal shares in a land trust.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Martin, Eduardo, and Shari are join tenants owning a track of land. Shari conveys her interest to Sandra. After the conveyance, which relationship exists?
Martin, Eduardo, and Sandra are joint tenants.
Martin, Eduardo, and Sandra are all tenants in common.
Martin and Eduardo are tenants in common, and Sandra is a tenant.
Martin and Eduardo are joint tenants; Shandra is a tenant in common.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The four unities of time, title, interest, and possession are associated with which of the following?
Community property right of survivorship
Ownership in severalty
Tenancy in common
Joint tenancy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A purchaser under the cooperative form of ownership receives
stock in the corporation and a proprietary lease.
ownership of the airspace within the unit and a prorated portion of the common elements.
the advantage of not having ownership interest destroyed by default of other occupants/shareholders.
the statutory right to sell his interest back to the cooperative at the current market price.
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