Podcast
Questions and Answers
What is the main characteristic of Freehold Ownership?
What is the main characteristic of Freehold Ownership?
- Absolute and permanent possession of a property (correct)
- Ownership only for the duration of one's lifetime
- Temporary possession of a property
- Property ownership with specific end date
Which type of ownership is unconditional and cannot be taken away?
Which type of ownership is unconditional and cannot be taken away?
- Fee Simple (correct)
- Leasehold
- Life Estates
- Defeasible
What does Leasehold Ownership entail?
What does Leasehold Ownership entail?
- Property ownership with specific end date
- Holding a property on a temporary basis through a lease agreement (correct)
- Absolute and permanent possession of a property
- Ownership only for the duration of one's lifetime
Which type of ownership is subject to certain conditions or limitations?
Which type of ownership is subject to certain conditions or limitations?
What is the characteristic of Estate at Will?
What is the characteristic of Estate at Will?
In what way does Estate at Sufferance differ from other types of estates?
In what way does Estate at Sufferance differ from other types of estates?
What happens to Fee Simple ownership upon death?
What happens to Fee Simple ownership upon death?
'Tenancy in severalty' refers to:
'Tenancy in severalty' refers to:
'Pur Autre Vie' Life Estate is limited to:
'Pur Autre Vie' Life Estate is limited to:
'Conventional Life Estate' can be:
'Conventional Life Estate' can be:
What is the main difference between tenancy in common and joint tenancy?
What is the main difference between tenancy in common and joint tenancy?
What is a key requirement to create a joint tenancy?
What is a key requirement to create a joint tenancy?
In which type of ownership do spouses own joint property as opposed to separate property?
In which type of ownership do spouses own joint property as opposed to separate property?
What happens to the interests and rights of a joint tenant upon their death?
What happens to the interests and rights of a joint tenant upon their death?
What is a characteristic of a license in real estate?
What is a characteristic of a license in real estate?
Which type of trust involves the grantor and beneficiary being the same party?
Which type of trust involves the grantor and beneficiary being the same party?
What is required for a trust to be considered a Living Trust?
What is required for a trust to be considered a Living Trust?
What happens if a tenant continues occupying a property after their lease ends without vacating?
What happens if a tenant continues occupying a property after their lease ends without vacating?
'Ownership of a unit of airspace plus an undivided interest in the common elements as tenant in common with other owners' best describes:
'Ownership of a unit of airspace plus an undivided interest in the common elements as tenant in common with other owners' best describes:
'Personal right to use a property that is revocable and ceases upon death of owner' describes:
'Personal right to use a property that is revocable and ceases upon death of owner' describes:
What is a key characteristic of tenancy in common?
What is a key characteristic of tenancy in common?
Which type of tenancy has survivorship rights if expressly provided?
Which type of tenancy has survivorship rights if expressly provided?
What defines a periodic leasehold?
What defines a periodic leasehold?
What is defined as an estate at sufferance?
What is defined as an estate at sufferance?
Which type of trust involves the grantor and beneficiary being the same party?
Which type of trust involves the grantor and beneficiary being the same party?
What is the fundamental concept behind Joint Tenancy?
What is the fundamental concept behind Joint Tenancy?
What is the main defining feature of a License in real estate?
What is the main defining feature of a License in real estate?
"Property used without permission, obtained through continuous, open, adverse use" describes:
"Property used without permission, obtained through continuous, open, adverse use" describes:
"Ownership of a unit of airspace plus an undivided interest in common elements" best describes:
"Ownership of a unit of airspace plus an undivided interest in common elements" best describes:
"Ownership by spouses with equal undivided interest" relates to which type of ownership?
"Ownership by spouses with equal undivided interest" relates to which type of ownership?
Which ownership type allows for absolute and permanent possession of a property?
Which ownership type allows for absolute and permanent possession of a property?
What form of ownership is subject to certain conditions or limitations?
What form of ownership is subject to certain conditions or limitations?
What does Leasehold Ownership involve?
What does Leasehold Ownership involve?
What type of ownership involves ownership only for the duration of one's lifetime?
What type of ownership involves ownership only for the duration of one's lifetime?
Under which ownership type does the ownership pass to heirs or a new owner upon death?
Under which ownership type does the ownership pass to heirs or a new owner upon death?
What type of ownership is categorized as legal under certain circumstances?
What type of ownership is categorized as legal under certain circumstances?
'Estate at Sufferance' involves:
'Estate at Sufferance' involves:
What is the main difference between tenancy in common and joint tenancy?
What is the main difference between tenancy in common and joint tenancy?
Which type of trust involves the grantor and beneficiary being the same party?
Which type of trust involves the grantor and beneficiary being the same party?
What characterizes a periodic leasehold?
What characterizes a periodic leasehold?
In real estate ownership, what is a characteristic of a license?
In real estate ownership, what is a characteristic of a license?
'Property used without permission, obtained through continuous, open, adverse use' describes:
'Property used without permission, obtained through continuous, open, adverse use' describes:
'Absolute and permanent possession of property' best describes:
'Absolute and permanent possession of property' best describes:
'Personal right to use a property that is revocable and ceases upon death of the owner' describes:
'Personal right to use a property that is revocable and ceases upon death of the owner' describes:
'Ownership only for the duration of one's lifetime' relates to:
'Ownership only for the duration of one's lifetime' relates to:
'Ownership by spouses with equal undivided interest' relates to:
'Ownership by spouses with equal undivided interest' relates to:
'Ownership of a unit of airspace plus an undivided interest in common elements' best describes:
'Ownership of a unit of airspace plus an undivided interest in common elements' best describes:
What is the key characteristic of Life Estates?
What is the key characteristic of Life Estates?
Which type of ownership involves holding a property on a temporary basis through a lease agreement?
Which type of ownership involves holding a property on a temporary basis through a lease agreement?
What is the primary difference between Fee Simple and Life Estate ownership?
What is the primary difference between Fee Simple and Life Estate ownership?
What distinguishes Leasehold Ownership from Freehold Ownership?
What distinguishes Leasehold Ownership from Freehold Ownership?
What characterizes Estate at Will ownership?
What characterizes Estate at Will ownership?
Under what circumstances does Conventional Leasehold ownership become 'legal'?
Under what circumstances does Conventional Leasehold ownership become 'legal'?
'Ordinary Life Estate' differs from 'Pur Autre Vie Life Estate' mainly in terms of:
'Ordinary Life Estate' differs from 'Pur Autre Vie Life Estate' mainly in terms of:
'Remainder Interest' is different from 'Reversion Interest' in that it:
'Remainder Interest' is different from 'Reversion Interest' in that it:
What best describes Tenancy in Severalty ownership?
What best describes Tenancy in Severalty ownership?
