Joint tenancy Study guides, Class notes & Summaries

MD Real Estate Salesperson Exam Review with Certified Solutions Which of the following would NOT be considered real property? 1. mineral rights 2. a leasehold estate 3. fixtures 4. air 2. a leasehold estate - a leasehold estate is a non-freehold estate involving the tenant's right to occupy the real estate during the term of the lease The servient estate in an easement appurtenant is the property 1. owned by the landlord 2. on which the easement is placed 3. owned by the...

Gift splitting - ANSWER Allows a married couple to double their allowable annual exclusions is only allowed for married couples Ownership limited to spouses only - ANSWER Joint tenancy tenancy by the entirety community property Grantor retained interest Trust Grit - ANSWER Grantor can receive all income earned by the trust Qualified terminable interest Property Trust Q-tip -

All of the following would be considered real property EXCEPT 1. mineral rights. 2. a leasehold estate. 3. fixtures. 4. air. - a leasehold estate. The servient estate in an easement appurtenant is the property 1. owned by the landlord. 2. on which the easement is placed. 3. owned by the tenant. 4. that benefits from the easement. - that benefits from the easement. Which of the following statements concerning encumbrances is NOT true? 1. All encumbrances are liens. 2. All liens are e...

Pearson Vue Exam Questions & Answers, 100% Accurate, rated A+ Real property interests include... - -an appurtenance that goes with the land. Examples: buildings, fences, trees, water rights, the ground below, mineral rights, air rights, easements What is a form of ownership that is restricted to husbands and wives? - -Tenancy by the entirety. Each owns the entire parcel. Neither can separately convey and interest during the other's life time. On the death of a spouse, the survivo...

Define a 'Dwelling Unit' - Answer-A self-contained housing unit with one or more habitable rooms containing at minimum a kitchen, bathroom facilities and an exit from the building. What is the difference between a semi-detached structure and a vertically divided duplex? - Answer-- A duplex is under single ownership (under 1 title) ... the dwelling units can then be lived in or rented out - The 2 dwelling units in a semi-detached structure are each owned separately (under 2 titles) Define ...

Tenancy in severalty - Answer sole ownership of a freehold estate CO-OWNERSHIP - Answer ownership by two or more owners Tenancy in common - Answer -co-tenants enjoy an individually owned, undivided interest; any ownership share possible; no survivorship Joint tenancy - Answer equal, undivided interest jointly owned by two or more parties, with survivorship; requires four unities to create: time, title, interest, possession; joint tenants can sell their interest, but the interest becomes a ...

All of the following would be considered real property except 1. Mineral rights 2. A leasehold estate 3. Fixtures 4. Air - 2. A leasehold estate The servient estate in an easement appurtenant is the property 1. Owned by the landlord 2. On which the easement is placed 3. Owned by the tenant 4. That benefits from the easement - 2. On which the easement is placed Which of the following statements concerning encumbrances is not true? 1. All encumbrances are lien 2. All liens are encumbra...

Tennessee National Portion Real Estate Exam Questions and Answers Already Passed A corporation is a legal entity that can buy and sell real estate as set out in its charter. Ownership in severalty is property owned by one individual or corporation. A house is owned by three joint tenants, and one of the owners, as permitted by state law, sells that interest to a new owner. The result is a tenancy in common between the new owner and the remaining joint tenants The owner of a con...

When discussing the concept of total square footage with your client, what is the BEST way to describe how the total square footage is measured? A. Total area of the property measured from the inside walls of the home. B. Total Area Under Roof (TAUR) C. Measure all square footage of included real property, including both attached and detached structures. D. Living area square footage only. - ANSWER Correct!! Answer: Total Area Under Roof (TAUR) (This question covers Property Owners...

Florida Real Estate Exam / Florida Real Estate Exam 2024 - 2025 with 100% correct answers GRADED A+ Samuel wants to do a 1031 exchange. He sold his investment property and has identified the property he'd like to buy next. Within how many days must he close on this property in order for it to qualify as part of the exchange? - ANS-a. 180 b. 30 c.45 d.60 a. He has 45 days to identify a property he would like to purchase and 180 days to close on it, from time of sale. In which for...