Mann_BLRB 9_TB_Ch49

Business Law and the Regulation of Business

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Chapter 49—Interests in Real Property TRUE/FALSE 1. Fee estates include the right to immediate possession for an indefinite time and the right to transfer the interest by deed or will. ANS: T MSC: AACSB Analytic 2. All other estates are derived from the fee simple estate. ANS: T MSC: AACSB Analytic 3. Mother conveyed her lakefront property to her daughter, Ellen, for life and then to Ellen's children, but if Ellen had no children, to Mark. Mark has a contingent remainder. ANS: T MSC: AACSB Analytic 4. Ownership of real property for a definite time or for the life of a person is a freehold estate . ANS: F MSC: AACSB Analytic 5. A leasehold is like a bailment in that it permits the tenant to have a possessory but not an ownership interest in the landlord's estate. ANS: T MSC: AACSB Analytic 6. A tenancy at sufferance is created if a tenant fails to vacate the premises when the lease expires. ANS: T MSC: AACSB Analytic 7. Landlords are liable for injuries their tenants and others suffer as a result of any criminal conduct of third parties on the leased premises. ANS: F MSC: AACSB Analytic 8. If the lease is silent on the subject, a tenant may assign his lease. ANS: T MSC: AACSB Analytic 9. A sublease is made when the tenant transfers control of his entire interest in the leased property to a third party. ANS: F MSC: AACSB Analytic 10. Under the common law, a landlord is under an obligation to provide or maintain the premises in a liv- able condition. ANS: F MSC: AACSB Analytic 11. If Gil assigns his lease to Jim, Gil has no further obligations to his landlord.
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ANS: F MSC: AACSB Analytic 12. If Dan subleases his apartment to Susan for the summer, Susan is primarily liable to pay the landlord the rent. ANS: F MSC: AACSB Analytic 13. The Arbor Apartments can legally restrict tenants to those who are married couples. ANS: F MSC: AACSB Analytic 14. If Karen assigns her lease to Henry, Karen and Henry are both liable to the landlord for the rent. ANS: T MSC: AACSB Analytic 15. Most state statutes permit a landlord to evict a tenant for nonpayment of rent. ANS: T MSC: AACSB Analytic 16. A reversion is held by a person other than the grantor or his successors. ANS: F MSC: AACSB Analytic 17. Breach of the implied warranty of habitability allows a tenant to withhold rent. ANS: T MSC: AACSB Analytic 18. If Tom and Tim are tenants in common, they each own a specific half of the property. ANS: F MSC: AACSB Analytic 19. To create a joint tenancy, the tenants must acquire title by the same instrument. ANS: T MSC: AACSB Analytic 20. Community property does not include a ring owned by the wife prior to the marriage. ANS: T MSC: AACSB Analytic 21. An easement describes a limited possessory interest in the land. ANS: F
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Mann_BLRB 9_TB_Ch49 - Chapter 49-Interests in Real Property...

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