Business Law Chapter 48 Bob Dies Does Shea No Goes Bobs

subject Type Homework Help
subject Pages 9
subject Words 3154
subject Authors Barry S. Roberts, Richard A. Mann

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43. The characteristics of a qualified or base fee estate include(s) that:
a. it is possible to convey or will property to a person to enjoy absolutely, subject to its being taken away at a
later date should a certain event occur.
b. a holder of a qualified fee interest may transfer the property by deed, subject to the initial condition.
c. a qualified fee interest may pass by intestate succession.
d. All of these.
44. A tenancy in common may be terminated by:
a. one of the tenants selling or transferring his interest to the co-tenant.
b. the co-tenants partitioning the property among themselves.
c. Both of these.
d. Neither of these.
45. Bob and his sister, Claudia, can own property:
a. only by tenancy by the entireties.
b. by tenancy in common or joint tenancy
c. only by joint tenancy.
d. by tenancy by the entireties or by joint tenancy
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46. Community property would include:
a. a house bought by the married couple.
b. gifts of $500 given to wife while they were married.
c. an inheritance of a diamond by husband while they were married.
d. a painting bought by wife before the marriage.
47. An easement may be created in which of the following cases?
a. The landowner agrees to it in writing.
b. It is necessary for access to the land.
c. It is taken by using the land adversely to the rightful owner’s use openly for a period of years.
d. All of these.
48. A condominium differs from a cooperative in that a tenant in the latter:
a. rents his apartment from the cooperative.
b. owns his apartment in cooperation with others.
c. owns all the space except the common areas.
d. owns only the internal space.
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49. The right to cut and remove trees from anothers land would be a(n):
a. easement.
b. profit.
c. license.
d. covenant.
50. A survival clause refers to:
a. a remainder in a life estate.
b. a possibility of reverter.
c. a provision in a lease contract providing that the tenant's eviction for non-payment of rent will not relieve her
of liability for damages for rent not paid.
d. All of these.
51. An estate from week to week or month to month is called a(n):
a. fee simple absolute.
b. estate for years.
c. periodic tenancy.
d. tenancy at sufferance.
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52. If Sam leases property to Susan without specifying the duration, Sam has created a(n):
a. base fee.
b. condominium.
c. estate (tenancy) at will.
d. estate at sufferance.
53. When a landlord leases property for a given period of time:
a. the tenant is under duty not to commit waste.
b. the tenant is under a duty not to commit wear and tear.
c. an estate at sufferance is created.
d. a fee simple absolute is usually created.
54. If a landlord furnishes heat in the summer in order to force his tenant to move and the tenant does in fact move, a
court of law will probably decide that:
a. waste has occurred.
b. there has been a wrongful abandonment of the premises.
c. constructive eviction has taken place.
d. vacating of the premises constituted an assignment.
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55. A transaction whereby the tenant transfers away her entire interest under a lease is called a(n):
a. sublease.
b. assignment.
c. eviction.
d. abandonment.
56. Which of the following represents joint property ownership?
a. A cooperative
b. A life estate
c. A lease
d. A fee simple absolute
57. In a condominium:
a. all residents own shares in the corporation that owns the building.
b. each resident purchases a living unit in the building.
c. the tenant owns a reversionary interest in the property.
d. the tenant creates a future interest in the property known as a possibility of reverter.
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58. Promises made by the landlord and tenant to each other in the lease to do or not to do certain acts are known as:
a. automatic leases provisions.
b. recordation clauses.
c. covenants.
d. reversionary clauses.
59. An interest in property limited in duration to the life or lives of one or more persons is known as a:
a. future interest.
b. fee simple absolute.
c. fee simple determinable.
d. life estate.
60. A landlord has an obligation to repair premises:
a. under the common law if the lease has no related provision.
b. and, if the landlord assumes that duty in the lease, the breach of the duty entitles the tenant to abandon the
premises and refuse to pay rent.
c. including lobbies, stairways, elevators, and other common areas.
d. All of these.
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61. An interest in the future that arises in a third party is called a(n):
a. reversion. b.
remainder. c.
assignment.
d. fee simple absolute.
62. Which of the following is NOT an example of co-ownership?
a. A joint tenancy
b. A tenancy by the entireties
c. A tenancy in common
d. A lease between a landlord and a tenant
63. Landlords can evict a tenant if:
a. the tenant fails to pay the rent.
b. the lease expires and the tenant refuses to move out.
c. the tenant keeps a pet in violation of the lease and refuses to get rid of it.
d. All of these.
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64. The greatest ownership interest a person may have in real property is:
a. fee simple absolute.
b. tenancy by the entirety.
c. life estate.
d. vested remainder.
65. If B grants A a life estate in his property and then B dies, what happens to the land when A dies?
a. It goes to A's heirs.
b. It goes to the state.
c. It reverts to B's heirs.
d. It passes under A's will.
66. In May 2006, Dad grants a life estate to Mom, with a remainder interest in daughter, Sally. In June 2006, Mom sells
her life estate to Bob who dies in June of 2007. Mom dies in October of 2009. Sally claims she has a right to the land
after Bob dies. Does she?
a. No, it goes to Bob's heirs until Mom dies
b. No, it goes back to Mom
c. Yes, since Bob's life estate ended
d. No, it goes to Mom’s heirs
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67. Grandfather conveyed to Erin the right to the family farm after her grandmother dies. This is called a:
a. possibility of a reverter.
b. reversionary interest.
c. vested remainder.
d. contingent remainder.
68. If Arthur conveys his farm to Melissa in fee simple as long as she does not develop the property for non-farm use, in
which case the property would revert to Arthur's estate, he has created:
a. a fee simple absolute.
b. a base fee.
c. a life estate with a remainder.
d. a future interest to Melissa.
69. Which of the following is not true of leases of real property?
a. They must always be in writing.
b. They vary in manner of termination.
c. They are both contracts and conveyances of an estate in land.
d. They involve an exclusive right to use and possession of the land for a definite or ascertainable time and are
nonfreehold estates.
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70. If a monthly lease does not specifically provide for a date the rent is due, the tenant must pay at:
a. the end of the month.
b. the 15th of the month.
c. the beginning of the month.
d. five days after the beginning of the month.
71. Joanne rents a single-family house and lot for one year starting September 1. If the house burns down, the common
law requires:
a. payment of rent up to the time of the destruction.
b. payment to be suspended until the house is repaired.
c. termination of the lease.
d. payment to continue for the entire year.
72. Ed signs a 10-year lease with a survival clause. If Ed is evicted after 2 years, he will have to pay rent:
a. for the remaining 8 years.
b. for the period of time until it is relent.
c. until eviction.
d. until he assigns the lease.
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73. Millie, a tenant, abandons her apartment after 6 months, even though there are 6 months left on her lease. If there
were no survival clause in the lease, would the landlord be able to hold Millie liable for rent?
a. Yes, but he must leave the apartment vacant
b. Yes, after he gives notice to the tenant
c. Yes, after he relets the apartment
d. No, the landlord must relet the apartment in order to collect rent for the remaining lease term.
74. Maureen agrees to sell her interest in the farm to Joe. Maureen and her husband, Bill, hold the property as tenants
by the entireties. What consequence?
a. There is no sale.
b. The sale severs the tenancy and creates a tenancy in common.
c. The sale transfers one-half interest in land.
d. The sale results in a partition of the land.
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75. The All-Power Gas and Electric Company cleared a right of way across Larry's land and put up a power line, which
it has maintained for the past 20 years. Now the company wants to replace the old line with a new one, and Larry
has decided he doesn't want them on his land.
a. Does the Power Company have a recognizable interest in Larry's land? Explain.
b. Can Larry keep them from installing a new line? Explain.
76.
a. What is a fee simple?
b. What is a life estate?
c. If Maurice grants a life estate to his wife, what interest does he retain? Explain.
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77. Edna, Elsa, and Ellen are sisters who own 500 acres of land as tenants in common. Discuss the interest each has in
the real estate.
78. Agatha, Betty, and Clara are sisters who own 300 acres of land as joint tenants.
a. What interest does each of them have in the parcel of land?
b. If Betty dies, what happens to her share of the 300 acres?
c. If Clara sells one-half of her interest to Diane, what interest does Diane acquire in the 300-acre
parcel?
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79. Explain what is meant by an implied warranty of habitability and how this doctrine has changed the common law
approach with respect to residential leases.

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