RE Law - Quiz 4 - a. California Community Property Act b....

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California Real Estate Law - 5 th Edition - by Huber & Tyler Bonus Quiz – Chapter 4 Copyright May 2005, Educational Textbook Company 1. Which of the following is NOT a form of co-ownership? a. tenancy in common b. community property c. severalty d. tenancy in partnership 2. Tenants in common interests are always: a. divided b. undivided c. separate d. equal 3. The distinguishing feature of joint tenancy is: a. right to partition b. right of survivorship c. right to will d. right to sell 4. A joint tenancy ends when: a. the court's partition judgment is entered b. one of the joint tenants dies c. the partition action is filed d. only one joint tenant occupies the property full time 5. Co-owners who take title as joint tenants usually do so to: a. lessen property taxes b. consolidate investments c. avoid probate d. eliminate the possibility of severance 6. The law passed in 1970 that confirmed the community property system in California is called the:
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Unformatted text preview: a. California Community Property Act b. Family Law Act c. Equal Property Act d. Family Distribution Act 7. When determining division of community property, the court will usually presume: a. all property acquired during marriage is community property b. all property is community property c. all property is held in joint tenancy d. none of the above 8. A husband and wife can co-own property as: a. community property b. joint tenants c. tenants in common d. any of the above 9. The most sophisticated form of association is the: a. general partnership b. limited liability company c. corporation d. unincorporated association 10. A chief drawback of the corporate form of organization is: a. lack of power in the board of directors b. stockholder power in the day-to-day operations c. stockholder liability for corporate debts d. double taxation 1...
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