Tenants in common - Study guides, Class notes & Summaries

National Real Estate Exam Prep Questions and Answers Graded A+ John, Maria and Mark are joint tenants. Mark dies. Maria sells her share to Jane. John and Jane are: a. Joint Tenants b. Tenants by Partition c. Sole Owners d. Tenants in Common d. tenants in common John owns lakefront property. He has been granted water rights to the lake. He has: a. Riparian Rights b. Appropriative Rights c. Littoral Rights d. Prior Appropriation c. littoral rights Mary's parents gave her ...

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 condominium unit learns that a neighbor has failed to pay real estate taxes. I...

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 ...

Superior Real Estate School Exam| Questions and Answers, 100% Correct| Newly 2024 Superior Real Estate School Exam| Questions and Answers, 100% Correct| Newly 2024 All of the following are physical characteristics of land except: A. Indestructibility B. Uniqueness C. Immobility D. Scarcity D. Scarcity Under the doctrine of specific performance, the party harmed by breach of a real estate contract can ask a judge to force the breaching party to carry out the terms of the contract ra...

National Real Estate Exam Practice Questions and Answers with Verified Solutions A property owner has decided to do some landscaping work on his yard. He has planted a tree surrounded by some flowering shrubs. The tree and shrubs are an example of... improvements A property owner has a waterfront lot on a stream. He has the right to use the water from the stream. What is this right called? riparian A tenant is aware that his lease will expire at the end of the month. He has begun...

Superior Real Estate School Exam Questions and Answers All of the following are physical characteristics of land except: A. Indestructibility B. Uniqueness C. Immobility D. Scarcity - Answer- D. Scarcity Under the doctrine of specific performance, the party harmed by breach of a real estate contract can ask a judge to force the breaching party to carry out the terms of the contract rather than order the breaching party to pay monetary damages. Which physical characteristic of land is t...

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

NJ Real Estate Broker's Exam Question and answers rated A+ 2023/2024 The right of a utility company to enter someone's property for the purpose of repairing or maintaining the utility service is called (A.) an easement in gross (B.) an easement appurtenant (C.) eminent domain (D.) a prescriptive easement - correct answer (A.) An easement in gross Mark, Linda, Susanne and George own a property as joint tenants. Linda sells her interest to Phil. What is the relationship of the...

Texas Real Estate Exam Prep (From Pearson VUE and & Champions National Exam Prep) Questions and Answers A property owner has decided to do some landscaping work on his yard. he has planted a tree surrounded by some flowering shrubs. The tree and shrubs are an example of: a) encroachments b) improvements c) surface rights d) emblements - Answer- b) improvements A property owner has a waterfront lot on a stream. He has the right to use the water from the stream. What is this right calle...

Tenancy at Will - ANSWER No written agreement, and can be terminated at any time by landlord or tenant Tenancy at sufferance - ANSWER Tenant is allowed to live on property after lease is over but before they are forced off the property Tenants in common - ANSWER Ownership where tenants could have different amounts of ownership. If passed away heir will take over the undivided ownership (no survivorship) Joint Tenants - ANSWER 2 or more people own equal rights with the right of survivors...