Exam (elaborations)
WASHINGTON REAL ESTATE ROCKWELL CHAPTER 2 QUESTIONS AND ANSWERS
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WASHINGTON REAL ESTATE ROCKWELL CHAPTER 2 QUESTIONS AND ANSWERS
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Name: Score:61 Multiple choice questions
Term 1 of 61
A fee simple title in real estate is of indefinite duration, and can be:
freely transferred
encumbered
inherited
all of the above
Term 2 of 61
Jill and Julie are joint tenants. Jill sells her interest in the property to Sam. Julie and Sam:
are automatically joint tenants
do not own the property together, because the sale of property by a joint tenant is void
are tenants in common
are tenants in severalty
Term 3 of 61
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 is silent regarding this issue, in this case:
no notice is required and no additional fee must be paid
Mark and Kim owe one month's additional rent
Mark and Kim owe one month's additional rent plus a nonrenewal fee
Mark and Kim will lose the full amount of their security deposit
,Term 4 of 61
Donald bought a condominium unit. Donald's interest in the unit would be a:
fee simple interest
leasehold interest
life estate
joint tenancy with other unit owners
Term 5 of 61
Two cousins want to buy a house together and arrange it so that is one dies, the other will
receive fully ownership of the property. They will probably take title to the property as:
community property
joint tenancy
tenancy by the entireties
tenancy in common
Term 6 of 61
A unit in a cooperative is owned:
in severalty by the resident of the unit
by the corporation that owns the building; the residents own shares in the corporation
by all residents of the building as tenants in common
by all residents of the building as limited partners
Term 7 of 61
An assigned parking space in a lot at a condominium development would be considered a/an:
common element
easement
limited common element
private restriction
,Term 8 of 61
Pam gave a life estate to her aunt, naming her cousin Sylvia as the remainderman. Almost
immediately Pam's aunt sold the property to her neighbor, Fred. What is the result of the sale to
Fred?
the sale is valid only as long as Pam's aunt is alive
the sale is valid only as long as Sylvia is alive
the sale is valid only as long as Fred is alive
the sale is valid only as long as Pam is alive
Term 9 of 61
A tenant has an automatic renewal clause in his lease. He probably has a/an:
defeasible estate
periodic tenancy
estate for years
possibility of reverter
Term 10 of 61
Of the following, which is the best definition of a fee simple estate?
title and ownership without limitations
an estate for years
a leasehold interest in property that is supported by consideration
the greatest interest one can own in land
, Term 11 of 61
Maria has a lease that begins on June 1 and ends on December 1 of that same year. Maria has a:
periodic estate
tenancy at will
term tenancy
joint tenancy
Term 12 of 61
Five people buy an investment property. They take title so that they each have equal
ownership shares, and so that if one of them dies, his share will pass to his heirs. How did they
take title?
community property
joint tenancy
tenancy in common
term tenancy
Term 13 of 61
Which of the following does not apply to condominium ownership?
each unit owner has a proprietary lease on his unit
each unit owner has an undivided interest in the common areas of the condominium
project
before the first unit can be sold, a declaration must be filed with the state
each unit owner makes a separate mortgage payment and receives a separate tax
statement
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