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Real Estate Part 4

Total questions: 92

Worksheet time: 46mins

Name
Class
Date
1.

Severalty

a)

simplest form of ownership

b)

several parties are need to sign the deed

c)

easiest title to transfer

d)

deed must be signed in court

2.

Joint Tentancy

a)

one single party

b)

with right of survivorship

c)

ownership by two or more people

d)

no rights of survivorship

3.

Right of survivorship

a)

when one co-owner dies, that co-owner's share goes to the the heirs

b)

supersedes passing of title by will and dower and curtesy rights

c)

hiers must be established by remainder interest

d)

when one co-owner dies, that co-owner's share goes to the surviving co-owner(s)

4.

Right of survivorship

a)

passes to the deceased tenant's heirs

b)

supersedes passing of title by will

c)

supersedes dower and curtesy rights

d)

passes to the surviving joint tenants

5.

Joint tenancy

a)

deed must clearly show joint tenancy

b)

assumed

c)

transfers to heirs

d)

expressly created

6.

If the type of co-ownership being created is not indicated, the courts will

a)

will assume a life estate

b)

will assume joint tenancy

c)

assume tenancy in common rather than joint tenancy

d)

will assume a legal trust

7.

New joint tenants

a)

can be added later

b)

cannot be added later

c)

will become tenant in common

d)

will die

8.

Anne, Beth, and Joan are joint tenants. Joan sells her interest to Tiffany. Tiffany is now a

a)

heir to the estate

b)

Tenant in common

c)

Joint tenant

d)

Life tenant

9.

Right of Partition AKA

a)

Owner of severalty

b)

Partition Suit

c)

Unity of time

d)

Suit to Partition

10.

Right of partition: If one of the parties wants to end the tenancy, but the others disagree, that party can go to court and force it to be dissolved and the assets distributed to the various tenants.

a)

True

b)

False

11.

What are the unities

a)

Unity of Time

b)

Unity of Title

c)

Unity of Interest

d)

Unity of Possession

12.

What is the an easy way to remember the unities

a)

TIP

b)

TIPIC

c)

TTIP

d)

TIPP

13.

The basic concept of joint tenancy

a)

Unity of interest

b)

Unity of ownership

c)

Unity of time

d)

Unity of possession

14.

Unity of time

a)

all tenants' ownership is created by the same document

b)

all tenants own equal percentages in the property and have the same type of ownership estate.

c)

All tenants have equal rights to access and possession in the property

d)

ownership is acquired by all tenants at the same time

15.

Unity of title

a)

All tenant's ownership is created by the same document

b)

All tenants have equal rights to access and possession in the property

c)

Ownership is acquired by all tenants at the same time

d)

All tenants own equal percentages in the property and have the same type of ownership estate

16.

Unity of interest

a)

Ownership is acquired by all tenants at the same time

b)

All tenants' ownership is created by the same document

c)

All tenants have equal rights to access and possession in the property

d)

All tenants own equal percentages in the property and have the same type of ownership estates

17.

All states require

a)

Unities of interest

b)

Unities of possession

c)

Unities of time

d)

Unities of title

18.

Tenants in common

a)

have a right to survivorship

b)

have no right to survivorship

19.

Joint Tenancy

a)

has right to survivorship

b)

has not right to survivorship

20.

Tenants in common

a)

hold a divided interest in a property

b)

is only permitted to occupy a specific portion of the property

c)

hold an undivided interest in a property

d)

has right to survivorship

21.

An undivided interest

a)

ownership of a particular part of the property

b)

divided interest in the estate

c)

is a share of the entire property

d)

property owned before the marriage

22.

Can owners in a tenants in common exclude others?

a)

Yes

b)

No

23.

Tenants in Common: Interest is

a)

held by the entire party

b)

holds unity of rights

c)

holds unity of common law

d)

held by each owner in severalty

24.

All tenants in common have

a)

Unity of Possession

b)

Unity of Property Rights

c)

Unity of Interest holder rights

d)

Unity of Joint

25.

Tenants in common have

a)

no right to survivorship

b)

right to survivorship

26.

If the deed does not specify the percentage each tentants in common have, the court will assume

a)

each tenant will have no share

b)

each tenant will gain shares overtime

c)

each tenant has equal share

d)

each tenant has 50% share

27.

Can tenants in common hold different percentages of ownership in the property?

a)

Yes

b)

No

28.

Can tenants in common sell or mortgage their individual interest?

a)

Yes but with consent of other tenants in common

b)

Yes and no consent of other tenants in common are needed

c)

No

29.

If a tenant in common sells their property, what will the new owner become

a)

2nd tenant in common

b)

joint tenants

c)

tenants by the entirety

d)

tenant in common

30.

If the deed does not specify the form of ownership under which the parties are taking title, the law assumes it is

a)

tenancy by the entirety

b)

unity in possession

c)

joint tenancy

d)

tenancy in common

31.

What are some ways to end a tenancy in common or a joint tenancy co-ownership?

a)

the operation of law may force the end of the co-ownership

b)

the parties may voluntarily agree to end the co-ownership

c)

one or more tenants may file a suit of partition, asking the court to end the tenancy

d)

property acquired during the marriage is community property, and each spouse owns one-half

e)

the operation of law may force the end of the co-ownership

32.

Tenancy by the entire exists only between

a)

boss and employee

b)

courts and tentants

c)

husband and wife

d)

parent and child

33.

Tenancy by entirety is

a)

termination of co-ownership

b)

a stand alone tenancy

c)

a special form of joint tenancy

d)

a special form of tenants in common

34.

For tenancy by the entirety, there is

a)

no right of survivorship

b)

right of survivorship

35.

How many unities does a tenancy by the entirety have

a)

3

b)

4

c)

5

d)

6

36.

What is the additional unity for tenancy by the entirety

a)

unity of property

b)

unity of person

c)

unity of possession

d)

unity of rights

37.

Unity of person refers to

a)

the husband and the wife being considered one person

b)

the husband and the wife in court

c)

the husband and the wife being considered two separate entities

d)

the husband and the wife having a joint tenant

38.

For tenancy by the entirety, can one party's interest be sold without the other party's interest also being sold?

a)

Yes

b)

No

39.

For tenancy by the entirety, a creditor's lien

a)

cannot be levied against the property unless both parties are debtors of the creditor

b)

can be levied against the property unless both parties are debtors of the creditor

40.

What is community property?

a)

shared unequally property

b)

property owned by the community

c)

acquired during the marriage

d)

acquired by wife before the marriage

41.

All tenants own equal percentage of the property

a)

Unity of person

b)

Unity of interest

c)

Unity of possession

d)

Unity of Time

42.

All tenants acquired ownership at the same time.

a)

Unity of Time

b)

Unity of Title

c)

Unity of Possession

d)

Unity of Person

43.

All tenants were listed on the same deed

a)

Unity of Possession

b)

Unity of Person

c)

Unity of Interest

d)

Unity of Title

44.

All tenants have the right to occupy the property

a)

Unity of person

b)

Unity of Title

c)

Unity of possession

d)

Unity of interest

45.

Right of survivorship means that the property passes to the deceased tenant's heirs.

a)

True

b)

False

46.

All tenants in both a joint tenancy and a tenancy in common have the right of partition

a)

True

b)

False

47.

The simplest form of ownership is severalty..

a)

True

b)

False

48.

Tenants in common must be expressly stated.

a)

True

b)

False

49.

Joint tenants must be expressly stated.

a)

True

b)

False

50.

A tenant in common may see an ownership to someone else and not end the tenancy.

a)

True

b)

False

51.

A tenancy by the entirety will be ended by the death of either spouse or be divorce.

a)

True

b)

False

52.

In community property states, property acquired during the marriage belongs to both spouses.

a)

True

b)

False

53.

Tenants hold an undivided interest with no right of survivorship

a)

Joint tenancy

b)

Community property

c)

Tenants in common

d)

Tenancy by the entirety

54.

A joint tenancy between husband and wife.

a)

Community property

b)

Tenancy by the entirety

c)

Severalty

d)

Tenants in common

55.

Property held before the marriage remains teh individual's property, whereas property acquired after the marriage is owned by both spouses.

a)

Community property

b)

Severalty

c)

Right of survivorship

d)

Right of partition

56.

The simplest form of ownership

a)

Right of Partition

b)

Unity of Possession

c)

Tenants in common

d)

Severalty

57.

The tenants have the right to ask the courts to force a dissolution of the tenancy

a)

Severalty

b)

Tenants in common

c)

Community property

d)

Right of partition

58.

A form of ownership that includes four unities.

a)

Right of partition

b)

Joint tenancy

c)

Community property

d)

Tenancy by the entirety

59.

When a joint tenant dies, that tenant's share goes to the remaining joint tenants.

a)

Right of survivorship

b)

Tenancy by the entirety

c)

Right of partition

d)

Right of Severalty

60.

Which must be expressly created?

a)

Tenancy of Entirety

b)

Tenants

c)

Joint tenancy

d)

Tenants in common

61.

Fill in the blanks: For ____, if it is not expressly created, the courts will assume _____.

a)

Tenancy by Entirety

b)

Joint Tenancy

c)

Tenancy in common

d)

Corporation

62.

Who has the right of partition?

a)

Joint tenants

b)

You

c)

Me

d)

Him

63.

What is a right of partition?

a)

a legal action that forces the tenancy to be dissolved and the assets distributed to the various tenants

b)

a legal action for all tenants to part ways without buying each other out

c)

a written document promising repayment of funds

64.

Who has four unities

a)

Joint Tenancy

b)

Tenancy in Common

c)

Tenancy in Will

d)

Leaseholders

65.

What are the four unities in Joint Tenancy

a)

Unity of time

b)

Unity of title

c)

Unity of interest

d)

Unity of possession

e)

Unity of control

66.

Who holds an undivided interest in a property

a)

Tenants in Common

b)

Joint Tenants

c)

Leaseholders

d)

Tenancy by the Entirety

67.

A share of a portion of the property is an undivided interest.

a)

True

b)

False

68.

All tenants in common have

a)

Unity of Time

b)

Unity of Exclusion

c)

Unity of possession

d)

Unity of Control

69.

Is there a right of survivorship for tenants in common?

a)

Yes

b)

No

70.

Tenants in common: The deed must specify the percentage of each tenant's share in the property otherwise the court will assume

a)

they will come beack to finalize the document

b)

each will get 1/4 of a share

c)

each own an equal share

d)

they are a joint tenancy

71.

Termination of co-ownership:

a)

The parties may voluntarily agree to end the co-ownership.

b)

One or more tenants may file a suit of partition.

c)

The operation of law may force the end of the co-ownership.

d)

If one of the unities is destroyed,joint tenancy is destroyed

72.

Tenancy by the entirety exists

a)

only by husband and wife

b)

by girlfriend and boyfriend

c)

by employee and employer

d)

by lessor and lessee

73.

Is there right of survivorship for tenancy by the entirety?

a)

Yes

b)

No

74.

For tenancy by the entirety, can a creditor's lien be levied against the property for the husband and not the wife?

a)

Yes

b)

No

75.

Community property is

a)

property acquired by the joint efforts of husband and wife.

b)

property acquired before the marriage

c)

property acquired after the marriage

d)

property acquired before and after the marriage

76.

Applies only between husband and wife.

a)

Tenancy of Entirety

b)

Tenants in common

c)

Community Property

d)

Joint Tenancy

77.

Owners may hold different percentages of ownership.

a)

Tenancy in common

b)

Community property

c)

Joint tenancy

d)

Tenancy of entirety

78.

Two or more owners with the right of survivorship.

a)

Joint Tenancy

b)

Tenancy of Entirety

c)

Tenants in Common

d)

Community Property

79.

All tenants own equal percentage of the property.

a)

Unity of Interest

b)

Unity of Time

c)

Unity of Title

d)

Unity of Possession

80.

All tenants acquired ownership at the same time.

a)

Unity of Time

b)

Unity of Title

c)

Unity of Possession

d)

Unity of Interest

81.

All tenants were listed on the same deed.

a)

Unity of Title

b)

Unity of Possession

c)

Unity of Interest

d)

Unity of Time

82.

All tenants have the right to occupy the property.

a)

Unity of Possession

b)

Unity of Interest

c)

Unity of Time

d)

Unity of Title

83.

Right of survivorship means that the property passes to the deceased tenant's heirs.

a)

True

b)

False

84.

All tenants in both a joint tenancy and a tenancy in common have the right of partition.

a)

True

b)

False

85.

The simplest form of ownership is severalty.

a)

True

b)

False

86.

A tenant in common may sell an ownership to someone else and not end the tenancy.

a)

True

b)

False

87.

A tenancy by the entirety will be ended by the death of either spouse or by divorce.

a)

True

b)

False

88.

Tenants hold an undivided interest with no right of survivorship.

a)

Tenants in common

b)

Joint tenancy

c)

Community property

d)

Tenancy by the entirety

89.

A joint tenancy between husband and wife.

a)

Tenancy by the Entirety

b)

Community Property

c)

Severalty

d)

Right of Survivorship

90.

A tenants have the right to ask the courts to force a dissolution of the tenancy

a)

Joint tenancy

b)

Common law

c)

Right of partition

d)

Right of survivorship

91.

A form of ownership that includes four unities.

a)

Joint tenancy

b)

Tenancy by the entirety

c)

Community property

d)

Tenants in common

92.

When a joint tenant dies, the tenant's share goes to the remaining joint tenants.

a)

Right of survivorship

b)

Right of partition

c)

Severalty laws

d)

Tenancy by the entirety

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