Exam (elaborations)
Property Ownership(questions well answered)
- Course
- Institution
Property Ownership(questions well answered)
[Show more]
Content preview
Property OwnershipA cooperative apartment - correct answer ✔✔Condominium ownership would NOT be used on which of
the following?
A » An apartment building
B » A cooperative apartment
C » Townhouses
D » An office park
tenancy in common - correct answer ✔✔Time share ownership would be most evidenced by:
A » joint tenancy
B » tenancy in common
C » tenancy in the entireties
D » cooperative ownership
cooperative - correct answer ✔✔A person that has stock ownership in an apartment and a proprietary
right to lease that space would be participating in a:
A » condominium
B » cooperative
C » time share
D » alienation
the people who reside there are unit owners - correct answer ✔✔The main difference a manager would
need to realize between managing a condominium and an apartment complex is that in a condominium:
A » the manager would not have to maintain the common areas
B » the need for swimming pool regulations would not be as great
C » the people who reside there are unit owners
D » the residents are still considered to be tenants
, association of unit owners - correct answer ✔✔A condominium development with a long standing
established homes association would be governed by the:
A » long established tenants
B » association of unit owners
C » developer of the condominium
D » state licensing agency
Fee simple - correct answer ✔✔What is the greatest type of interest an owner can receive in a
condominium?
A » Fee simple
B » Leasehold
C » Right of free use
D » Stock
Undivided interest in the common areas - correct answer ✔✔What interest does a condominium owner
have in common with other condominium owners?
A » Divided interest in the common properties
B » Undivided interest in the limited common properties
C » Undivided interest in the common areas
D » Undivided interest in the master deed plan
personal property - correct answer ✔✔Harvesting of crops that require annual planting means that the
crops are considered to be:
A » real property
B » personal property
C » fixtures
D » trade fixtures
severance - correct answer ✔✔Converting real property into personal property would be called a(n):
A » chattel
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Sakayobako30. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now