quiz 4 - Legal Aspects of Real Estate Lesson 4 Cumulative...

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Legal Aspects of Real Estate Lesson 4 Cumulative Quiz 1. Which of the following is a possessory interest in land? B. Estate 2. A fee simple estate is a perpetual interest, while a life estate is a limited interest. This describes the estate's: A. duration 3. A fee simple absolute is all of the following, except: A. freely transferable B. inheritable C. of potentially infinite duration D. subject to a power of termination D 4. Which of the following is a type of fee simple defeasible? A. Fee simple absolute B. Fee simple determinable C. Fee simple subject to a condition subsequent D. Both B and C D 5. Under common law, an estate may automatically terminate if the grantee breaches a certain condition. This would be a: B. fee simple determinable 6. The right of a grantor to petition the court for return of a property if the grantee violates a condition is the: C. power of termination 7. Which of the following is a limitation on the power of termination? A. A court may decide not to enforce a power of termination if the breaching party pays compensation to the grantor B. A power of termination expires thirty years after the deed is recorded C. A power of termination must be invoked within five years of when the breach occurs D. All of the above D 8. Xerxes deeds his property to Yvette, for the life of Zachary. Zachary is the: A. life tenant B. measuring life C. remainderman
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D. reversioner B 9. Xerxes deeds his property to Yvette, for the life of Zachary. Yvette is the:
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This note was uploaded on 01/29/2012 for the course REAL 12 taught by Professor Haynes during the Spring '11 term at West Valley.

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quiz 4 - Legal Aspects of Real Estate Lesson 4 Cumulative...

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