An ownership interest defined by the degree, quantity, nature and extend of an owner's interest in real property.

Unit 3

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Professional Development
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Christopher Stewart
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56 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Fee Simple Absolute
Estates in Land
Non-Freehold Estate
Fee Simple Estate
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A type of real property ownership that gives the owner exclusive rights to the property for an indeterminable length of time. Signifies full ownership of the land.
Fee Simple Defeasible
Fee Simple Determinalbe
Freehold Estate
Fee Simple Subject to a Condition Subsequent
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Type of estate where the length of time of the property’s use can be determined. Grants only the right to occupy a property for a specific period without ownership. Usually through a lease agreement.
Freehold Estate
Non-Freehold Estate
Fee Simple Estate
Fee Simple Absolute
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The highest form of real estate ownership recognized by law. The holder is entitled to all the rights of the property.
Fee Simple Defeasible
Life Estate
Pur Autre Vie
Fee Simple Estate
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Fee Simple Absolute
Ownership entitles its owners to all rights to the property by law. This estate is intended to run forever.
Length of time of the property’s use can be determined. Grants only the right to occupy a property for a specific period without ownership.
A qualified fee estate that is subject to the occurrence or nonoccurrence of some specified event.
Freehold estate limited in duration to either the life of the holder of the estate or the life of some other designated person.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The owner of a fee simple estate has full right to use the land. They're limited only by
The nonoccurrence of a specified event.
The life of the life tenant
public and private restrictions, like zoning laws or restrictive covenants found in a deed
The remainder interest
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A qualified fee estate that is subject to the occurrence or nonoccurrence of some specified event.
Fee Simple Defeasible
Freehold Estate
Fee Simple Absolute
Life estate
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