61) Karen, Kelsey, Rita, and Lizzi own a large commercial building as concurrent owners. They
are tenants with the right to survivorship. Lizzi transfers her one-quarter interest in the building
to a private charity organization owned by Stella. Under which of the following forms of
concurrent ownership would Karen, Kelsey, and Rita become the owners of the property
following Lizzi’s death without the inclusion of the private charity organization run by Stella?
A) a tenancy by entirety
B) a community property
C) a joint tenancy
D) a tenancy in common
62) Which of the following is a form of co-ownership that disallows the right of survivorship and
allows unilateral transfer of interest?
A) tenancy in common
B) joint tenancy
C) cooperatives
D) tenancy by the entirety
63) Martin, who owned a piece of property along with two other tenants, executed a will by
which he left all his property to his son. When Martin died, his son received his interest in the
shared property and became a tenant with the other two owners. What kind of concurrent
ownership would allow such a passage of title?
A) a joint tenancy
B) a tenancy in common
C) a tenancy by entirety
D) a community property
64) ________ is a form of co-ownership of real property that can be used only by married
couples.
A) Cooperatives
B) Tenancy in common
C) Joint tenancy
D) Tenancy by the entirety
65) Which of the following is true of a tenancy by the entirety?
A) It can only be formed between corporations.
B) It does not contain the conditional right of survivorship upon the death of a tenant.
C) It cannot be created by the usage of express words alone.
D) It cannot be transferred by any one of the tenants without the consent of the other.
66) Which of the following forms of co-ownership of real property applies only to married
couples?
A) joint tenancy
B) community property
C) tenancy in common
D) condominiums
67) If they filed for divorce in a state that recognizes community property, what amount would
each receive?
A) $1,300,000
B) $2,297,500
C) $725,000
D) $1,050,000
68) If they filed for divorce in a state that recognizes community property, what would be the
separate property owned by Jonas at the end of their marriage?
A) $1 million of real estate and $1.5 million in securities
B) $500,000 of real estate and $2.5 million in securities
C) $1.5 million of real estate and $3 million in securities
D) $2.5 million of real estate and $2 million securities
69) Future interest in real property refers to ________.
A) an interest in real property that involves actual and current possession
B) an interest in an estate that represents the highest form of ownership
C) an interest in real property that has been sold or permanently transferred to a third party
D) an interest in real property that a grantor retains for himself or herself or a third party
70) A ________ is a right of possession that returns to the grantor after the expiration of a
limited or contingent estate.
A) reversion
B) remainder
C) quiet title action
D) nonconforming use
71) Which of the following defines a reminder as a form of future interest?
A) It is a right of possession that returns to the grantor after the expiration of a limited or
contingent estate.
B) It is a right of possession that returns to a third party upon the expiration of a limited or
contingent estate.
C) It is a form of concurrent possession of a multiple-dwelling building in which a corporation
owns the building and the residents own shares in the corporation.
D) It is a form of concurrent possession that includes the right of survivorship.
72) Which of the following is the implied default title conveyed in a sale of real estate?
A) life estate
B) servient estate
C) fee simple absolute
D) fee simple defeasible
73) A(n) ________ is an instrument that describes a person’s ownership interest in a piece of real
property.
A) title insurance
B) deed
C) license
D) easement
74) Which of the following types of deeds only protects the buyer from defects in title caused by
the seller?
A) a general warranty deed
B) a quitclaim deed
C) a grand deed
D) a special warrant deed
75) A deed in which the grantor of real property transfers whatever interest he has in the property
to the grantee is known as a ________.
A) a quitclaim deed
B) a general warranty deed
C) a grand deed
D) a special warrant deed
76) What is a quiet title action?
A) a lawsuit to determine the rightful owner of a disputed property and his/her rights
B) a lawsuit to enforce the right to survivorship to the holder of the title deed
C) a lawsuit asking for the release of the details of a separate property from a couple
D) a lawsuit to obtain reimbursement for losses cause by undiscovered defects in title
77) ________ is a title to real property that is free from any encumbrances or other defects that
are not disclosed but would affect the value of the property.
A) Remainder title
B) Marketable title
C) Reversion title
D) Nonconforming title
78) A(n) ________ is issued by the courts to the rightful owner following the Torrens method of
determining title to the real property.
A) title insurance
B) abstract of title
C) certificate of title
D) restraining order
79) What is an abstract of title?
A) a recordation of a deed that gives constructive notice to the world of the owner’s interest in
the property
B) a judicial proceeding where a certificate of title is awarded to the real owner to property
C) a form of insurance obtained for losses caused by undiscovered defects in title
D) a chronological history of the chain of title and encumbrances affecting the property
80) In the context of a tax sale, many states provide a period of ________ after a tax sale during
which the taxpayer can reclaim the property by paying the unpaid taxes and penalties.
A) stipulation
B) consideration
C) redemption
D) exemption
81) A(n) ________ is a situation in which a person who wrongfully possesses someone else’s
real property obtains title to that property if certain statutory requirements are met.
A) adverse possession
B) reversion
C) nonpossessory interest
D) future interest
82) Which of the following statements it true with regard to adverse possession?
A) Adverse possession requires the delivery of a deed.
B) Adverse possession covers all property including those owned by federal and state
governments.
C) Adverse possession requires continuous and uninterrupted occupancy of the property.
D) Adverse possession covers only voluntary occupancy obtained with the express or implied
permission of the owner.
83) A(n) ________ is a situation in which a person holds an interest in another person’s property
without actually owning any part of the property.
A) present possessory interest
B) future interest
C) reversion
D) nonpossessory interest
84) A given or required right to make limited use of someone else’s land without owning or
leasing it is called a(n) ________.
A) zoning ordinance
B) title insurance
C) easement
D) abstract of title
85) A situation created when the owner of one piece of land is given an easement over an
adjacent piece of land is called a(n) ________.
A) profit-à-prendre
B) easement by license
C) easements in gross
D) easement appurtenant
86) What is a servient estate?
A) a piece of land that is being examined for an abstract of title
B) a piece of land over which an easement is granted
C) a piece of land which has concurrent owners
D) a piece of land that comes under a zoning ordinance
87) Which of the following types of nonpossessory interest has been created on Mr. Cartworth’s
land?
A) an easement appurtenant
B) an easement in gross
C) a license
D) a profit
88) Which of the following would be true if Mr. Cartworth were to sell his property?
A) The new owner is not obliged to let Ms. Rogers use her present driveway.
B) The new owner cannot cancel Ms. Rogers’ nonpossessory interest in form of the driveway.
C) Ms. Roger’s can only use the driveway if Mr. Cartworth has made an express request to the
new owner allowing it.
D) Ms. Roger’s would be required to procure for a license to use the driveway.
89) A(n) ________ authorizes a person who does not own adjacent land the right to use another
person’s land.
A) profit
B) license
C) easement appurtenant
D) easement in gross
90) A(n) ________ is a document that grants a person the right to enter upon another’s property
for a specified and usually short period of time.
A) title insurance
B) easement
C) license
D) deed
91) What is a profit-à-prendre?
A) a document that grants a person the right to remove something from another’s real property
B) a form of insurance obtained for losses caused by undiscovered defects in real property title
C) a judicial proceeding where a certificate of title is awarded to the real owner to property
D) a type of easement that grants a person a right to use another’s land but disallows the usage of
any personal property
92) A ________ is an exception that permits a type of building or use in an area that would not
otherwise be allowed by a zoning ordinance.
A) variance
B) fixture
C) dominant estate
D) servient estate
93) What is a life estate?
94) Give an account of concurrent ownerships in multiple-dwelling building.
95) What is a general warranty deed?
96) Explain the role of recording statutes in real property contracts.
97) What is an easement and how is it created?
98) Give an account of zoning. What are nonconforming uses?