Real Estate Quiz pt 2

Card Set Information

Author:
SassyStarfish
ID:
270733
Filename:
Real Estate Quiz pt 2
Updated:
2014-04-15 21:50:13
Tags:
real estate california
Folders:

Description:
Chapter 2
Show Answers:

Home > Flashcards > Print Preview

The flashcards below were created by user SassyStarfish on FreezingBlue Flashcards. What would you like to do?


  1. Of the following, which is not an estate:
    ~fee simple defeasible
    ~lease
    ~mortgage
    ~fee simple absolute
    mortgage
  2. Non-freehold estates include ...
    an estate for years and estate at will
  3. A lease for 25 days would describe an...
    estate of years.
  4. A conveyance of title with the condition that the premises not be used for the sale of alcoholic beverages creates a...
    fee simple defeasible estate.
  5. Jane was granted a residence for the term of her life. if Jane leases the residence to Susan...
    the lease will terminate when Jane dies.
  6. Bob, a life tenant, decides to tear down the detached guesthouse and construct a memorial for his recently deceased mother, Joe, the grantor who owns the reversionary interest in the property, can stop Bob from demolishing the guesthouse because...
    a life tenant cannot commit waste
  7. An estate at will can be terminated...
    upon giving 30 days notice.
  8. A lease from June 1 to June 30 is...
    an estate for years.
  9. If Ann dies before Jo, an estate in which Bob granted an estate for the life of Jo...
    vests in whoever is entitled to Ann's interest in the estate for the life of Joe.
  10. A freehold estate is also know as...
    an estate of inheritance.
  11. The holder of a title subject to a condition owns a...
    fee simple defeasible.
  12. A leasehold estate is a...
    less-than-freehold estate.
  13. If Jane rents an apartment to Susan "for $700 a month," Susan is presumed to have a...
    periodic tenancy
  14. Abe grants Bee a life estate for the life of Cee, remainder to Dee. Di is a...
    remainderman
  15. A periodic tenancy is an...
    estate from period to period.
  16. The estate constituting the greatest degree of ownership in property is...
    a fee simple absolute.
  17. Joe has leased a house from Bob on a year-to-year basis for the past 10 years. Near the end of the 10th year, Bob give Joe proper notice to quit, but Joe refuses to leave and Bob refuses to accept Joe's continued lease payments.Joe has...
    an estate at sufferance.
  18. Bob give Joe permission to store some of Joe's excess stuff in Bob's garage at no charge. Jo has...
    a license to use.
  19. A condition subsequent is...
    a condition written into the deed of a fee estate that, if violated, may "defeat" the estate and lead to its loss and reversion to the grantor.
  20. A remainderman is...
    a person who inherits or is entitle to inherit property held as a life estate when the person whose life determines the duration of the life estate passes away. A grantor who receives property back at the end of a life estate does so not because of inheritance, but because he retained a reversionary interest in the life estate.
  21. A condition subsequent is...
    a condition written into the deed of a fee estate that, if violated, may "defeat" the estate and lead to its loss and reversion to the grantor.
  22. An estate is...
    the degree, quantity, nature, duration, or extent of interest one has in property.
  23. An estate at sufferance is...
    a leasehold that arises when a lessee who legally obtained possession of a property remains on the property after the termination of the lease without the owner's consent. Such a holdover tenant can be evicted like a trespasser, but if the owner accepts the rent, the estate automatically becomes a periodic tenancy.
  24. An estate at will is...
    a leasehold that has no specified duration, though it may only b terminated by the owner of the property upon giving proper notice. An estate at will arises when a tenant take possession of a property while negotiating a lease or under a void contract or lease.
  25. An estate for years is...
    a leasehold that continues for a definite fixed period of time, measured in days, months, or years.
  26. An estate from period to period is...
    a leasehold that continues from period to period, whether by days, months, or years, until terminated by proper notice.
  27. An estate of inheritance is...
    a freehold estate.
  28. A fee simple defeasible estate is...
    a fee estate that is qualified by some condition that, if violated, may defeat the estate and lead to its loss and reversion to the grantor.
  29. A fee simple absolute estate is...
    the greatest estate that the law permits in land. The owner of a fee simple absolute estate owns all present and future interests in the property.
  30. A freehold estate is...
    an estate in land whereby the holder of the estate owns rights in the property for an indefinite duration.
  31. A leasehold estate is...
    a less-than-freehold estate.
  32. A lessee is...
    a person (the tenant) who leases property from another.
  33. A lessor is...
    a person (the landlord) who leases the property to anther.
  34. a less-than-freehold-estate is...
    an estate in which the holder has the exclusive right to possession of the land for a length of time. The holder of a less-than-freehold  estate is usually referred to as a lessee or tenant.
  35. A license to use is...
    a personal right to use property on a nonexclusive basis. A license to use is not considered and estate.
  36. A life estate is...
    a freehold estate the duration of which is measured by the life of a natural person - either by te life of the person holding the estate, or by the life or lives of one or more other persons.
  37. A periodic tenancy is...
    an ester from period to period.
  38. A remainder is...
    the residue of a freehold estate where, at the end of the estate, the future interest arises in a third party.
  39. a remainderman is...
    a person who inherits or is entitled to inherit property held as a life estate when the person whose life determines the duration of the life estate passes away.
  40. Reversion is...
    the residue of a freehold estate where at the end of the estate, the future interest reverts to the grantor.

What would you like to do?

Home > Flashcards > Print Preview