real estate chapter 3 quiz

two people own a house. each having an undivided equal interest. which of the following best describes why they own?

• each owns fifty percent of the physical house and the land it rests on

• each owns one hundred percent of the physical house and the land it rests on

• each on fifty percent of the estate represented by the real property, but no physical portion of the real property

• each owns one hundred percent of the estate represented by the real estate and fifty percent of the physical house and the land it rests on.

An interest in real estate that includes the right to possess is considered

• an estate in land

• a freehold estate

• a fee simple estate

• an encumbrance

An interest in real estate that does not include the right to possess is considered

• a leasehold estate

• a fee simple estate

• an encumbrance

• a tenancy

the right to zone land and the right to acquire ownership of land by eminent domain are both examples of

• a public interest

• a possessory interest

• an encumbrance

• an estate in laww

if the duration of an owner's rights in an estate cannot be determined, the owner possesses

• an indeterminate legal estate

• a leased fee simple estate

• a freehold estate

• a leasehold estate

The distinguishing feature of a leasehold estate is

• ownership of an interest by a tenant

• temporary ownership of the full bundle of rights in a property

• unlimited ownership of one right in the bundle of rights in a property

• duration limited by a lease term

which of the following is a freehold tenant

• the owner of a freehold estate

• the lessee in a leased property

• the lessee of a freehold estate

• any owner of an estate of land

in what kind of estate does ownership revert to the grantor of the estate if usage fails to conform to a stated condition in the grant

• fee simple absolute

• life estate with reversion

• life estate with condition subsequent

• fee simple defeasible

bob grants his sister mary an estate for as long as she lives, but her heirs cannot inherit the estate. what kind of estate is it?

• An estate pur autre vie

• an estate for years

• an ordinary life estate

• a legal life estate

homestead, dower and curtesy, and elective share are examples

• a conventional life estate

• a legal life estate

• an estate created by an owner's agreement

• a fee simple absolute