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Property Week 7 Quiz

Authored by Ethan de Grey

Professional Development

University

Used 5+ times

Property Week 7 Quiz
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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The doctrine of estates includes the following types of esates:

freehold

freehold and life estate

freehold, life estate and leasehold

life estate and leasehold

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The term "fee simple" refers to an individual's absolute ownership of land.

true

false

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The life tenant has the right to sell, lease, license and mortgage their property as they wish.

true

false

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

When the life tenant dies, the estate will vest in the remainder who is entitled to the future interest in the land.

true

false

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The life tenant has the right to possession and enjoyment of property until:

their death

a certain event happens

their death, or a certain event happens

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The life tenant must pay council and water rates in relation to the property during their life tenancy.

true

false

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Tom and Sam have managed a business successfully for 3 years. They wish to expand their business by buying out a competitor in the area. Sam, who has a life interest in a house, intends to use the property as collateral to raise funds from his bank. Will the bank grant a loan on the life interest he has in the property?

yes

no

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