Real estate 3& 4

The rights of survivorship is associated with

• Tenancy by entireties and community property

• Tenancy in common and joint tenancy's

• Tenancy by the entireties & Joint tenancy

• Tenancy in common and condominium ownership

A joint tenancy would be changed into a tenancy in common by

• one tenant giving his/her interest to the other

• The death of one of three joint tenants

• one of two joint tenants selling his/her interest to a third person

• the death of one of two joint tenants

Which of the following may own property in severalty

• 1Husband & Wife together

• Corporation

• A partnership

• A father and son together

Title held by a husband & Wife may include all of the following forms of ownership EXCEPT:

• Severalty

• Tenancy by the entireties

• Joint tenancy

• Tenancy in common

The ownership unities of time, title, interest and possession are required in order to create

• An undivided interest in the property as a whole

• Separate ownership

• Concurrent ownership

• The right of survivorship

A broker is asked by a husband and wife how they should take title to the home they are buying. The broker should

• recommend they consult an attorney

• recommend they ask the lender

• explain the difference btw joint & tenancy so they can decide for themselves.

• ask them what they want in term of liability & survivorsip & then suggest the best method

Smith, Jones & Black are joint tenants. Smith sells his interest to white. With regard to this conveyance

• Jones, Black, & White are now joint Tenants

• Jones, Black , & White are now tenants in common

• White owns 1/3 interest as a tenant in common with jones & Black who still own 1/3 as joint tenancy

• Smith cannot legally convey interest without a partition suit terminating the co-ownership obligation

Harper, Murphy & Jackson own an investment property as a tenants in common. Because of a recent business disagreement, Jackson wants to divest himself of the property. If the three owners cannot mutually agree on a plan to settle the matter, Jackson may seek an equitable distribution of the property by filing a

• Lis pendens

• partnership agreement

• partition suit

• declaration of severalty

The land on which a high rise condominium stands is owned by

• a non profit coroporation

• the individual unit owners as tenants in common

• a syndicate

• a limited partnership

A deed in favor of James and Rosen with stated proportionate interests of 1/3 & 2/3 respectively, without the right of survivorship creates

• A joint tenancy

• Tenancy in common

• severalty ownership of the property

• a general partnership