quiz 5 - Legal Aspects of Real Estate Lesson 5 Cumulative...

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Legal Aspects of Real Estate Lesson 5 Cumulative Quiz 1. Two unmarried persons take title to property together. They don't specify any method of holding title in the deed. Their form of ownership will be: A. community property B. joint tenancy C. tenancy by the entirety D. tenancy in common D 2. Which of these unities is a characteristic of tenancy in common? B. Unity of possession 3. In a tenancy in common: A. a tenant may log the entire property and retain the profits B. a tenant may require other tenants to contribute a proportionate share of costs of optional improvements C. a tenant may require other tenants to contribute a proportionate share of the property's necessary expenses D. a tenant must contribute money, rather than labor, to the property's upkeep C 4. A tenant in common encumbers his interest in a property. Which of the following statements is true? A. The creditor can also reach the other tenant's share B. The creditor does not have security for the debt C. This encumbrance can occur without the other tenant's consent D. This encumbrance cannot occur without the other tenant's consent C 5. The right of survivorship always applies to: B. joint tenancy 6. Joint tenancy requires that all tenants have the same proportionate share of a property. This is known
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quiz 5 - Legal Aspects of Real Estate Lesson 5 Cumulative...

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