REE3043 CHAPTER 2 QUESTIONS WITH REVIEWED ANSWERS
Which of these forms of co-ownership could best be described as "normal ownership," except that multiple owners share identically in one bundle of rights?
Tenancy in common
Joint tenancy
Tenancy by the entirety
Condominium
Estate in severalty...
REE3043 CHAPTER 2 QUESTIONS
WITH REVIEWED ANSWERS
Which of these forms of co-ownership could best be described as "normal ownership,"
except that multiple owners share identically in one bundle of rights?
Tenancy in common
Joint tenancy
Tenancy by the entirety
Condominium
Estate in severalty - Answer-Tenancy in common
Which of these marriage related forms of co-ownership gives each spouse a one-half
interest in any property that is "fruits of the marriage?"
Dower
Curtesy
Community property
Elective share
Tenancy by the entirety - Answer-Community Property
Which of these liens has the highest priority?
First mortgage lien
Mechanics lien
Property tax lien
Second mortgage lien
Unable to say because it depends strictly on which was created first - Answer-Property
tax lien
Restrictive covenants for a subdivision usually can be enforced by?
Subdivision residents
Lenders with mortgage loans in the subdivision
Local government
A and B, but not C - Answer-A and B, but not C
TImeshare programs can involve which of the following claims or interests?
Fee simple absolute
Leasehold interest
License
Condominium
All of these are possible - Answer-All of these are possible
Every condominium buyer needs to know the details of which documentary?
Condominium declaration
Bylaws
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