Utah Real Estate Test Exam UPDATED Exam Questions and CORRECT Answers
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Course
Utah Real Estate
Institution
Utah Real Estate
Utah Real Estate Test Exam UPDATED
Exam Questions and CORRECT Answers
The word "Ownership" means the same thing as the word
A.Freehold
B.Leasehold
C.Possession
D.Both A & C - CORRECT ANSWER- D. Both A & C
The highest interest in real estate recognized by law is:
A.Fee Simple Defeasible
B....
Utah Real Estate Test Exam UPDATED Exam Questions and CORRECT Answers The word "Ownership" means the same thing as the word A.Freehold B.Leasehold C.Possession D.Both A & C - CORRECT A NSWER - D. Both A & C The highest interest in real estate recognized by law is: A.Fee Simple Defeasible B.Legal Life Estate C.Fee Simple Absolute D.Fee Simple Determinable - CORRECT ANSWER - C.Fee Simple Absolute The highest interest in real estate recogni zed by law is: A.Fee Simple Defeasible B.Legal Life Estate C.Fee Simple Absolute D.Fee Simple Determinable - CORRECT ANSWER - C.Fee Simple Absolute Freehold interests include: A.Fee Simple B.Fee Simple Defeasible C.Life Estates D.All of the Above - CORRECT ANSWER - D.All of the Above Fee Simple Estate is the same thing as: A.Fee Simple Qualified B.Fee Simple Absolute C.Fee Simple Determinable D.Fee Simple Defeasible - CORRECT ANSWER - B.Fee Simple Absolute Fee Simple Defeasible i s a: A.Qualified fee estate subject to the occurrence of a specific event B.Legal Life Estate C.Unqualified fee estate D.Reversionary Interest - CORRECT ANSWER - A.Qualified fee estate subject to the occurrence of a specific event A Life Estate is a(n): A.Leasehold estate based on the lifetime of a person B.Freehold estate based on the lifetime of a person C.Leasehold estate based on the life of the tenant D.Illegal way to transfer ownership in real property - CORRECT ANSWER - B.Freehold estate based on the lifetime of a person A Life Estate Pur Autre Vie is: A.Based on the lifetime of a person other than the life tenant B.Based on the lifetime of the life tenant C.An example of a Homestead D.A leasehold Estate - CORRECT ANSWER - A.Based on the lifetime of a person other than the life tenant How might a homeowner be allowed certain protections from creditors? A.Easement rights B.Riparian rights C.Homestead rights D.Littoral Rights - CORRECT ANSWER - C.Homestead rights A woman owned the fee simple title to a lot adjacent to her home. Upon her death, she willed the lot to the city, pursuant to the city using the lot as a park. This gives the city a: A.Freehold estate B.Leasehold estate C.Fee Simple estate D.Fee Simple Det erminable - CORRECT ANSWER - A.Freehold estate Samantha Smith has the legal right to act as if she owns the property, although the property is actually owned by her sister. Samantha is: A.A holder of a Life Estate Pur Autre Vie B.A Remainderman C.A Holder of a Life Estate D.The Grantor - CORRECT ANSWER - C.A Holder of a Life Estate What is true about life estates? A.A life estate is a non -inheritable estate B.The holder of the life estate has the right to sell their life estate C.The grantor gives the grant ee the right to use a property D.All of the above - CORRECT ANSWER - D.All of the above What is a life estate? A.In common law and statutory law, a life estate is the ownership of land for the duration of a person's life B.Land that is owned by the state C.Land that is divided by family members D.It can be family inheritance - CORRECT ANSWER - A.In common law and statutory law, a life estate is the ownership of land for the duration of a person's life What is a dower? A.refers to the part of the estate B.refers to the backyard of the estate and front yard C.refers to the portion to which the wife is permitted D.what you are entitled to receive - CORRECT ANSWER - refers to the portion to which the wife is permitted What is a curtesy? A.A life estate of a husband in the real estate of his deceased wife B.The important part of the real estate C.The portion of the real estate where the children are entitle to recieve D.The ability to pass down the estate - CORRECT ANSWER - A.A life estate of a husband in the real estate of his deceased wife Pur Autre Vie is ? A."for another's life" B."for this life" C."for my life" D."for their life" - CORRECT ANSWER - A."for another's life" An exemption issued on a part of your property that provides protection from judgement s and creditors for the duration of life. A.Homestead B.Dower C.Legal Life Estate D.Curtsey - CORRECT ANSWER - A.Homestead _____ is a concept of life estate established by law. Not typically found in Utah, where it has been replaced with the uniform probat e code. A.dower B.Legal Life Estate C.homestead D.Deed - CORRECT ANSWER - B.Legal Life Estate Ownership by one person or corporation is called: A.Tenancy in Common
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