Quiz_2 Chapter 3 - Quiz#2:Chapter3 Student: _ This quiz...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Quiz#2:Chapter3 Student: ___________________________________________________________________________ This quiz includes 30 multiple choice questions. You have 20 minutes. Good luck. BE SURE TO WRITE YOUR NAME CLEARLY AND MAKR YOUR ANSWER WITHOUT CONFUSION. 1. In medieval England, the highest form of ownership was the A.freehold estate. B.estate for years. C.life estate. D.leasehold estate. 2. A concurrent ownership right that can be willed is A.tenancy in common. B.joint tenancy. C.ownership in severalty. D.separate property. 3. The right of the future holder of what is currently a life estate is a A.fee simple defensible. B.remainder. C.fee simple conditional. D.fee simple subject to a power of termination. 4. If Greenacre is deeded by Lou to Mary for Mary's life, Mary has A.a life estate. B.an estate in remainder. C.an estate in reversion. D.no interest. 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
5. Which of the following is not considered concurrent ownership? A.joint tenancy B.tenancy in common C.community property D.ownership in severalty 6. Victor and Karen are not married but together own community property because they are A.brother and sister. B.joint tenants. C.registered domestic partners. D.holders of a life estate. 7. A fee simple estate that may be lost when some act is performed is a A.life estate. B.fee simple absolute. C.remainder. D.fee simple on condition subsequent. 8. Ownership in severalty is A.concurrent ownership. B.a joint tenancy. C.separate ownership. D.community property. 9. In California, without any evidence to the contrary, a husband and wife or registered domestic partners are presumed to hold title as A.tenants in common. B.joint tenants. C.community property. D.tenancy in partnership. 2
Background image of page 2
10. When Aunt Winifred died, she left a life estate in Whiteacre to her nephew George. When George dies, Whiteacre will go to George's daughter Elizabeth. Elizabeth is a A.reversioner. B.remainderman. C.holder of a life estate. D.joint tenant with right of survivorship. 11. The four unities of joint tenancy do not include A.time. B.severance. C.interest. D.possession. 12. A property interest that can be lost is a A.fee simple defeasible B.fee simple absolute C.freehold estate D.life estate 13. Title to a spouse's marital property can be transferred upon death by use of a(n) A.oral will. B.tenancy in common. C.living trust. D.letter of intent. 14. The highest form of ownership is the A.life estate. B.real estate syndicate. C.fee simple absolute. D.fee simple defeasible. 3
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
15. The right of possession is restricted under a A.fee simple qualified. B.fee simple absolute subject to a power of termination. C.freehold estate. D.life estate with a right of reversion. 16. A limited partner is A.responsible for partnership activities. B.a general partner in some instances.
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/23/2010 for the course FIN 81824 taught by Professor Mcgrath during the Winter '09 term at CSU San Bernardino.

Page1 / 15

Quiz_2 Chapter 3 - Quiz#2:Chapter3 Student: _ This quiz...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online