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ASREB National Test A-2 Questions and Answers 100% Verified

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ASREB National Test A-2 Questions and Answers 100% Verified The highest form of an estate would be: Fee simple Defeasible fee Fee conditional Estate in remainder Answer-Fee Simple A tenant is living without permission on the property after the lease expires. What type of estate would the t...

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  • August 9, 2024
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ASREB National Test A-2 Questions and Answers 100%
Verified
The highest form of an estate would be:

Fee simple

Defeasible fee

Fee conditional

Estate in remainder Answer-Fee Simple




A tenant is living without permission on the property after the lease expires. What type of
estate would the tenant most likely hold?

Estate for years

Estate at sufferance

Estate for period

Estate at will Answer-Estate for years




A legal action by a court to review and distribute an estate is called: Answer-Probate




Which of the following tenancy would allow survivorship?

Tenancy in common

Joint tenancy

In severalty

Interval ownership Answer-Joint tenancy

, ASREB National Test A-2 Questions and Answers 100%
Verified
A property is held in joint tenancy and one of the parties dies testate, which of the following is
true?

Title would transfer according to the will

Divided between the spouse and children

Goes to the joint tenant survivor

Would pass to the heirs after probate Answer-Goes to the joint tenant survivor




J & R own property and R dies. R's children try but can't obtain the title from J. What type of
title did J & R hold?

Sole and Separate

Tenancy in common

Joint tenancy

Community property Answer-Joint tenancy




How would two buyers take title if they were not related?

Sole and separate

Tenancy in common

Interval

Community property Answer-Tenancy in common




What type of lease would the renter pay all expenses?

Net

, ASREB National Test A-2 Questions and Answers 100%
Verified
Gross

Index

Percentage Answer-Net




A husband and wife own property as tenants in common. If one dies the property would pass to
the:

Surviving spouse

State by escheat

Estate of the deceased

Joint tenant Answer-Estate of the deceased




Which of the following would have an interest in real estate but not an estate?

Lease

Life Tenant

Fee conditional ownership

Easement Answer-Easement




A lease where the lessee will pay a fixed rent plus a portion of the gross sales is called

Index

Percentage

Positive leasehold

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