Chpater 2 Quiz Sample Solutions

Chpater 2 Quiz Sample Solutions - 1 Real Estate Principles...

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Real Estate Principles Ch 2 Quiz Answer Key 1. A 2. B 3. D 4. C 5. D 6. C 7. B 8. A 9. A 10. C 11. B 12. C 13. C 14. C 15. D 2
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Answer Key with Explanations Question #1 Answer: A Explanation: A lessee (or tenant) has a leasehold interest in property. Question #2 Answer: B Explanation: Tenancy in common is the form of co-ownership with no right of survivorship. Question #3 Answer: D Explanation: Joint tenancy requires unity of time and title. The wife re-deeded her interest, even though it was just to herself and her husband, so the unities were broken and the joint tenancy is destroyed. Question #4 Answer: C Explanation: Of all the methods of holding title, only joint tenancy includes the right of survivorship. Question #5 Answer: D Explanation: Because a cooperative project is financed with one single mortgage and taxed as one single property, the failure of one tenant to pay his share of the cooperative's operating expenses can harm all the tenants -- particularly if it leads to a foreclosure.
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This note was uploaded on 01/26/2012 for the course FIN 365 taught by Professor Staff during the Spring '11 term at S.F. State.

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Chpater 2 Quiz Sample Solutions - 1 Real Estate Principles...

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