Unit 8-B Quiz

A man willed his residence to his widow. Upon he death, it was to go to two of his three children. The widow received a:

A. life estate

B. partial estate

C. remainder estate

D. leasehold

A. life estate

2. Which of the following elements is NOT a characteristic of fee simple absolute ownership?

A. Reversion to the grantor

B. Ability to will

C. Indefinite duration

D. Ability to transfer

A. Reversion to the grantor

3. The interest of a grantor who gives an interest with the expectation of getting it back is a:

A. remainder estate

B. life estate

C. reversionary estate

D. defeasible estate

C. reversionary estate

4. The greatest ownership right an individual can have is called:

A. leasehold

B. life estate

C. fee simple conditional

D. fee simple absolute

D
fee simple absolute

5. A lessee has an implied right of quiet enjoyment, and if the property is sold, the landlord must:

A. protect the tenant from people coming on the property from the outside

B. pay the tenant's moving expenses

C. protect the tenant from parties who claim superior

D. soundproof the tenant's apartment

C. protect the tenant from parties who claim superior

6. After a lease expires, the tenants are living on the premises without the landlord's consent. The tenants are:

A. tenants at will

B. tenants in common

C. tenants at sufferance

D. periodic tenants

C. tenants at sufferance

7. F rents from G. F installs shelves, cabinets, and other equipment in the building for use in her store. If the lease says nothing about these items:

A. F cannot remove the fixtures before the lease expires

B. G owns them if F does NOT remove them before the lease expires

C. F can remove them any time after the lease expires

D. they are fixtures and F has no right to them at all

B

G owns them if F does NOT remove them before the lease expires.

8. An estate at will:

A. must be in writing

B. can be canceled by the lessee or lessor at any time

C. is for a specific period of time

D. must have rent being paid

B. can be canceled by the lessee or lessor at any time.

9. B sold a property to Y and reserved a life estate for B.Y recorded the deed. B sold his life estate to D, who recorded the deed. Y demanded that the property pass to her in fee simple title immediately. In this

A. Y's claim is invalid because B controls his interest while alive

B.Y's claim is valid

C. Neither Y nor B have a claim to this property

D. B needed to obtain Y's permission to make the transfer

A. Y's claim is invalid because B controls his interest while alive.

10. When a tenant transfers the entire leasehold to a third party, it is a(an):

A. sublease

B.assumption

C. estoppel

D. assignment

D
assignment

11. In a positive leasehold, the:

A. contract rent is higher than the economic rent

B.contract rent is higher than the market rent

C.economic rent is higher than the contract rent

D. economic rent is lower than the contract rent

C. economic rent is higher than the contract rent

12. In a sublease with a positive leasehold, who normally benefits from the excess rent?

A. Sublessee

B.Sublessor

C. Lessor

D. Broker

B. Sublessor

13. Which of these statements is true?

A. Subleasing or assigning a lease always requires the lessor's permission

When a tenant's interest in a lease is assigned, both the assignor and assignee have liability to the landlord

C. In a positive leasehold, there is no excess rent

D. Economic rent may never be higher than contract rent

B. When a tenant's interest in a lease is assigned, both the assignor and assignee remain liable to the landlord. .

14. If at the end of a lease, the tenant holds over wrongfully, this estate is best described as:

A. estate at sufferance

B. estate at will

C. estate for years

D. holdover tenancy

A. estate at sufferance

15. When a property is rented for only one month, this is called what kind of tenancy?

A. Period to period

B. At will

C. For years

D. Month-to-month

c

For years. End date

16. When a lease is for an indefinite period, this is called:

A. a freehold estate

B. estate for years

C. estate at will

D. estate at sufferance

C. estate at will

17. An assignment of lease performs what function?

A. Conveys the leasehold to the assignee

B. Conveys trade fixtures to the assignee

C. Conveys the emblements to the assignee

D. Conveys the title insurance to the assignee

A. Conveys the leasehold to the assignee

18. At a single-family home, A leases to B, and B leases to C. Who is responsible for the rent?

A. BtoC

B. Bto A

C. Cto A

D. Ato B

B. B to A

19. A sublease:

A. is for basement premises

B. assigns the entire lease to a new tenant

C. makes the original lessee a lessor

D. terminates the original lease

C. makes the original lessee a lessor

20. A transfer of possession of property, but not title, for a period of time for consideration best defines:

A. lease

B. distraint

C. force and detainer

D.actual eviction

A. lease

21. What is the difference between fee simple and non-freehold?

A. Fee simple is freely inheritable, while non-freehold is a lease

B.Fee simple is for a person's life, while non-freehold is freely inheritable

C. Non-freehold has no time limit, while fee simple has a definite time

Non-freehold is for a person's life, while fee simple is a lease

A. Fee simple is freely inheritable, while non-freehold is a lease.

22. A grantor conveyed a life estate to a party and also retained a future interest in the property when the life tenant dies. The future interest is called:

A. remainder

B. reversion

C. pur autre vie

D. fee tail

B. reversion

23. A life estate would end by merger. Which of the following best explains merger?

A. Life tenant makes waste

B.Remainder party buys the life tenant's interest

C. The grantor dies without a will

D. Grantor failed to pay property taxes

B. Remainder party buys the life tenant's interest

24. A father owns a house as a fee simple owner and gives his daughter a life estate in the property with a provision that the property will pass to the son after her death. The son has a:

A. reversion interest

B. remainder interest

C. homestead interest

D. riparian interest

B. remainder interest

25. An alumnus of a school donated land to the school to be used only for sports. What type of ownership does the school have?

A. Fee simple absolute

B. Defeasible fee (fee simple on condition subsequent)

C. Leasehold estate

D. Reversionary estate

B. Defeasible fee (fee simple on condition subsequent)

26. A person holding a life estate sells their interest to a buyer. If the life tenant dies, who owns the property?

A. The life tenant's heirs

B. The buyer

C. The person who gave the life estate to the life tenant

D. The state due to escheat

c
The person who granted the life estate retains ownership as the life estate terminates upon the death of the life tenant.