Realty & Personal Property

Sue creates a life estate for Sue’s sibling Dave. When Dave dies, the estate will go to Sue’s sibling Tina. Who is the remainderman?

Jack receives a life estate in a property for the life of Larry. When Larry dies, the property passes to Mary rather than to the grantor or the grantor’s heirs. This is a: •

Henry buys a retirement home in the mountains. He never really got along with his son Mario, but he really likes Mario’s wife, Joan. After Mario gets a divorce, Henry changes his will so that Joan inherits the house when he dies. What type of estate does Henry have?

Jean gives 20 acres to the City of Edgewood but stipulates that the City can use it only to create a nature preserve and park. If the City uses the land for any other purpose, it will revert to Jean’s heirs. What kind of estate has Jean created?

Mark bought a house for his just-widowed sister Kim to live in although he is the owner. When Kim dies, Mark wants to retain possession of the property. Who will own the property when Kim dies, and what is that person called?

An example of a freehold inheritable estate is a(n):

Rachel wants to make sure that their child Earle has a place to live when Rachel dies. Rachel also wants to give the property to her child, Jane, after her Earle passes away. If Earle is still alive when Rachel dies, who will own the property, and what is that person called?

Which of the following is TRUE regarding an estate in land?

What statement is TRUE about a life estate?

Fred conveys a life estate to his youngest daughter Pebbles for as long as Fred’s wife Wilma shall live, and then to his son Barney. Pebbles dies before Wilma. Who has the present interest in the estate?

The two main types of possessory freehold estates are:

Of the following, which is the best definition of a fee simple estate?

Linda gives a four-acre parcel of land to their church with the caveat that if the church ever builds a parking lot on it, Linda’s heirs will regain title. What kind of estate does the church have for this property?

Taylor owns 35 acres of land by a lake and decides to deed it to their cousin. Taylor wants to make sure that the pristine beauty of the property is not marred by development, so they indicate that at least 15 acres must remain undeveloped. This is an example of:

The greatest interest one can own in real property is a _______________ estate

A three-year lease ends. The property owner allows the tenant to stay on and continue to pay rent on a month-to-month basis. This would be a(n):

Erin entered into a lease that begins on February 1 and is set to end on January 31 three years later. This leasehold is a(n):

A leasehold estate is:

Maria has a lease that begins on June 1 and ends on December 1 of that same year. Maria has a:

Nancy rents a house to Dave. Dave has a ________ estate, and Nancy has a ________ estate. If Nancy moves back into the house at the end of the lease, Nancy will have a _______ estate.

Lyle leases property to Shawn. Lyle is the _________, and Shawn is the __________.

Rob agrees to rent an apartment from Kristy for three months for $500 a month. Rob moves in on January 1 and moves out on March 31 without giving notice. What type of leasehold estate is this?

Your roommate from college moves to your town. You let them stay with you while they look for a job. What type of leasehold estate is this MOST LIKELY to be?

Lessors have a(n) _______________ interest in real property.

Which statement about an estate at will is TRUE?

Mary’s lease expired, but Mary continues living in the apartment without the property owner’s permission. This situation is considered a(n):

Generally speaking, if a property owner accepts rent from a holdover tenant after the lease expires, what type of tenancy is created?

A stockbroker just leased office space downtown. What interest do they have in the leased property?

Mark and Kim’s two-year lease on their apartment expires. Unhappy that the couple doesn’t plan to renew the lease, the property manager charges them one month’s rent for failure to give notice. If the lease says nothing about this issue, in this case:

A tenancy at will:

Which of the following describes a real property tax lien? Select all correct responses.

A homeowner has an unpaid hospital bill for $20,000. The hospital files suit and wins a judgment for the full amount. Is the homeowner’s home (which they own free and clear) at risk?

All of the following are examples of specific liens EXCEPT:

A new subdivision requires payment of homeowners association dues. If unpaid, what type of lien do they create?

Which project would LEAST LIKELY justify a special assessment?

When Jake purchases a house, he gets a mortgage. The mortgage is recorded May 1. Jake hires a contractor to build a deck in July and then goes to Hawaii for several months. He doesn’t pay the contractor or his property taxes. His property goes to foreclosure. In what order will the liens likely be paid?

What would cause a judgment lien to be imposed on a landowner’s property?

Of these, which lien would be classified as involuntary and general?

Which is a voluntary, specific lien?

Which of the following statements is FALSE?

Which of the following is NOT a specific lien?

Specific liens include all of the following EXCEPT:

Zenda failed to pay a contractor for labor and materials used in the repair of her home. This may result in a(n):

Which of the following statements is TRUE of mechanic’s liens?

A lis pendens is a:

Brian has an appurtenant easement that allows him to cross over his neighbor’s land to get to the lake. When the neighbor sells this land to Brian, the easement is terminated through:

An easement is considered to be a(n):

Which is an example of a negative easement?

Ethel has lived in a house on the land behind Terry’s vacant lot for 30 years, driving across Terry’s property to get to the road without an easement. When Terry finally decides to build, she puts a fence all around her property, blocking Ethel from the road. Other than an easement by necessity, what option might Ethel have to travel from her property to the road?

A real estate licensee studying the results of a survey found two easements against the property: a utility easement and a pipeline easement. These are:

An easement for ingress and egress that is created by a court of law where it is necessary for the enjoyment of the property is an easement:

Jared has an easement to drive across his neighbor Vicky’s property to get to his barn. Jared’s property is known as the ______________ tenement.

A local charitable organization obtained the right to put a billboard on Sam’s property. Sam likely gave the organization a(n):

A homeowner has been sharing with a friendly neighbor the use of a driveway that crosses both of their properties. However, the neighbor is about to move out, and the remaining homeowner would like to make sure that she can continue to use the driveway even if the new neighbor is not amenable to that. The homeowner should request a(n):

Which of these situations would MOST likely be an example of an easement?

A thunderstorm knocks down power lines on John’s property. Big City Electric enters John’s property without his permission to fix the lines. This is an example of:

Harold and Joanne have been neighbors for years. Until recently, Harold has an easement to use Joanne’s driveway as it’s the only way to get to his garage. Harold buys the lot behind his house, tears down the old garage, and builds a new one with his own driveway from the street behind his house. How is Harold’s easement being terminated?

Which is an example of an encumbrance?

A similarity between an easement and a license is that both:

Evan and Kenneth have an agreement that Evan is permitted to hunt on Kenneth’s property during hunting season. This agreement is a(n):