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Real Prop & the Law
CHAPTER 1,5,6,7 QUIZ
Question | Answer |
---|---|
THE PHRASE 'BUNDLE OF LEGAL RIGHTS' IS PROPERTY INCLUDED IN | THE DEFINITION OF REAL PROPERTY |
THE RIGHT TO CONTROL ONE'S PROPERTY INCLUDES ALL OF THE FOLLOWING | THE RIGHT FOR INVITE PPL ONTO THE PROP FOR POLITICAL FUNDS - THE RIGHT TO ERECT NO TRESPASSING SIGN - THE RIGHT TO ENJOY PRIDE OF OWNERSHIP |
ACCORDING TO LAW, A TRADE FIXTURE IS | PERSONALITY |
A COUPLE IS INTERESTED IN A HOUSE THAT FITS MOST OF THEIR NEEDS, EXCEPT ITS IN A BUSY STREET. CONCERN ABOUT THE PROPERTY IS CALLED | area preference |
THE WORD IMPROVEMENT REFERS TO ALL OF THE FOLLOWING | STREETS - SANITARY SEWER SYSTEM. - THE FOUNDATION |
REAL PROPERTY CAN BECOME PERSONAL PROPERTY BY | SEVERANCE |
ALL OF THE FOLLOWING ARE PHYSICAL CHARACTERISTIC OF LAND | INDESTRUCTIBLE - UNIQUENESS - IMMOBILITY |
A BROKER SHOWED AN OWNER-OCCUPIED PROPERTY THAT HAD WINDOW SCREENS, VENETIANS BLINDS AND A WALL BED. THE BROKER SECURED BY A BUYER BY OFFER ACCEPTED, THE TRANSACTIONS WAS PLACED IN ESCROW. BEFORE THE CLOSING OF ESCROW THE SELLER MAY REMOVE | NONE OF THE IDENTIFIED ITEMS |
WHICH OF THE FOLLOWING IS CONSIDERED PERSONAL PROPERTY? | PATIO FURNITURE |
LAND IS CONSIDERED | INDESTRUCTIBLE |
A RANCHER OWNS A PARCEL OF LAND ON WHICH OIL WAS DISCOVERED. IF THE RANCHER HAS NOT PREVIOUSLY CONVEYED THE OIL RIGHTS, WHO OWNS THE OIL? | THE RANCHER |
CERTAIN ITEMS ON THE PREMISES THAT WERE INSTALLED BY THE TENANT AND ARE RELATED TO THE TENANT'S BUSINESS ARE CALLED | TRADE FIXTURES |
PERSONAL PROPERTY INCLUDES OF THE FOLLOWING | CHATTELS - TRADE FIXTURES - EMBLEMENT |
FIXTURE ARE | REAL PROPERTY |
AFTER THE CONSTRUCTION OF A BUILDING OVER A RR RIGHT OF WAY THE TRAINS CAN | OPERATE AS USUAL |
ALL OF THE FOLLOWING ARE ECONOMIC CHARACTERISTIC OF LAND | SCARCITY - PERMANENCE OF INVESTMENT - AREA PREFERENCE |
GENERALLY PERSONAL PROPERTY CAN BE DISTINGUISHED FROM REAL PROPERTY BY ITS | MOBILITY |
AN IMPORTANT CHARACTERISTIC OF LAND IS THAT IT MAY BE MODIFIED OR IMPROVED AT ANY GIVEN TIME. DEPENDING ON ITS TYPE AN IMPROVEMENT MAY INCREASE THE VALUE OF RE GREATLY. ALL IS CONSIDERED IMPROVEMENTS TO LAND IS | SEWERS - BUILDING - ROADS |
THE LL LEASES STORE SPACE TO A TENANT FOR A RESTUARUANT. THE TENANT INSTALLS OVENS, BOOTHS, COUNTERS, AND OTHER ITEMS. WHEN DO THESE ITEMS BECOME REAL PROPERTY? | WHEN THE LEASE IS EXPIRED |
THE GEOGRAPHIC LOCATION OF ANY PARCEL OF LAND CAN | NEVER BE CHANGEND |
ALL OF THE FOLLOWING ARE TESTS FOR DETERMINING A FIXTURE | THE SIZE OF THE ITEM |
THE OWNER OF THE HOUSE WANTS TO FENCE THE YARD FOR HER DOG. WHEN THE FENCE IS ERECTED, THE FENCING MATERIALS ARE CONVERTED TO RE BY | ANNEXATIONN |
THE PHYSICAL CHARACTERISTICS OF LAND INCLUDE WHICH OF THE FOLLOWING? | UNIQUENESS |
THE RIGHTS OF OWNERSHIP OF REAL PROPERTY INCLUDE ALL OF THE FOLLOWING | COMPATIBILITY |
WHICH OF THE FOLLOWING HAS THE GREATEST IMPACT ON THE VALUE OF A PROPERTY? | AREA PREFERENCE |
A PERSON WHO HAS COMPLETE CONTROL OVER A PARCEL OF R.E. IS SAID TO OWN A | FEE SIMPLE ESTATE |
A PORTION OF A MAN'S HOUSE WAS INADVERTENTLY BUILT ON HIS NEIGHBOR'S LAND. THIS IS CALLED AN | ENCROACHMENT |
MANY STATES DETERMINE THE ORDER OF WATER RIGHTS ACCORDING TO WHICH USERS OF THE WATER HOLD A RECORDED BENEFICIAL USE PERMIT. THIS ALLOCATION OF WATER RIGHTS IN DETERMINE BY | LITTORAL THEORY |
THE PURCHASE OF A TICKET FOR A PROFESSIONAL SPORTING EVENT GIVES THE BEARER | A LICENCE TO ENTER AND CLAIM A SEAT FOR THE DURATION OF THE GAME |
WHICH OF THE FOLLOWING HAS AN INDEFINITE DURATION | FREEHOLD ESTTE |
IF THE OWNER OF THE DOMINANT TENEMENT BECOMES THE OWNER OF THE SERVIENT TENEMENT AND MERGES THE TWO PROPERTIES, THE EASEMENT | IS TERMINATED |
A DECEDENT LEFT A WILL GIVING HIS NEIGHBOR THE RIGHT TO USE A WILL ON THE DECADENT'S LAND AS LONG AS THE NEIGHBOR WAS ALIVE. THE NEIGHBOR;S INTEREST IN THE PROPERTY IS PROPERLY CALLED | AND EASEMENT IN GROSS |
A FARMER ACQUIRED OWNERSHIP OF LAND THAT WAS DEPOSITED BY A RIVER RUNNING THROUGH HIS PROPERTY BY | ACCRETION |
A WOMAN OWNED THE FEE SIMPLE TITLE TO A VACANT LOT ADJACENT TO A HOSPITAL AND WAS PERSUADED TO MAKE A GIFT OF THE LOT. HER ATTY PREPARED A DEED THAT CONVEYED OWNERSHIP OF THE LOT TO THE HOSPITAL "SO LONG...MEDICAL PURPOSES' AFTER COMPLETION, THE HOSPITAL | WILL OWN A FEE SIMPLE DETERMINABLE |
THE MOST ALL INCLUSIVE TYPE OF REAL PROPERTY OWNERSHIP IS A | FEE SIMPLE ESTATE |
THE RIGHT OF THE OWNER OF PROPERTY LOCATED ALONG THE BANKS OF A RIVER ARE CALLED | RIPPARIAN RIGHTS (RIVER BANK) |
NATURAL GAS LINE INSTALLED; COMPANY CLAIMED TO HAVE VALID EASEMENT; AND PROVEN BY COUNTY RECORD. PROP OWNER CLAIMED IS NOT VALID BC HE DID NOT KNOW ABOUT IT. THE EASEMENT WAS | VALID EVEN THOUGHT HE OWNER DID OT KNOW ABOUT IT |
THE PRIMARY INTENT OF ZONING REGULATIONS IS TO | ENSURE THE HEALTH SAFETY AND WELFARE OF THE COMMUNITY |
THE OWNER WENT OT COURT TO TRY TO STOP PP FROM WALKING ALONG THE WATER EDGE IN FROM OF HIS PROP. THE OWNER IS LIKELY TO BE | UNSUCCESSFUOL BC THE OWNER'S PROP EXTENDS ONLY TO THE HIGH WATER MARK AND THE PUBIC CAN USE THE LAND BEYOND THIS POINT |
A DEED CONVEYED OWNERSHIP TO THE GRANTOR SO AS LONG AS THE EXISTING BUILDING IS NOT TORN DOWN. WHAT TYPE OF ESTATE DID THESE DEED CREATE? | DETERMINABLE FEE ESTATE |
WHICH OF THE FOLLOWING BEST DESCRIBED A LEGAL LIFE ESTATE | ESTATE CONVEYED BY ONE PARTY TO A SECOND PARTY FOR THE LIFE OF THE SECOND PARTY |
FOR LAND TO BE TAKEN BY THE GOVT UNDER ITS RIGHT OF EMINENT DOMAIN, WHICH OF THE FOLLOWING MUST APPLY | THE TAKING MUST BE FOR A PUBLIC PURPOSE |
A GRANDMA CONVEYS A LIFE ESTATE TO HER GRANDSON AND STIPULATES THAT UPON HER DEATH, THE ESTATE WILL PASS HER SON-IN-LAW. HE WAS | AN ESTATE IN REMAINDER |
A MAN CONVEY OWNERSHIP OF HIS HOUSE TO HIS MOTHER AND STIPULATE THAT UPON HER DEATH, HE WILL RECAPTURE THE OWNERSHIP. THE INTEREST THE MAN HAS IN THE OWNERSHIP | REVERSION ESTATE |
A DAUGHTER CONVEYS OWNERSHIP OF HER APT BLD TO A NURSING HOME, ANTICIPATING THAT THE RENTAL INCOME WILL HELP PAY FOR HER FATHERS CARE THERE. WHEN HER FATHER DIES. THE DAUGHTER WILL RECAPTURE OWNERSHIP OF THE APT BLD, AND EXAMPLE OF | LIFE ESTATE PUR AUTRE VIE |
A DEVELOPER GRANTS TO THE GAS COMPANY THE RIGHT TO INSTALL TRANSMISSION LINES THIS RIGHT IS CALLED | AN EASEMENT IN GROSS |
A LOT IS ENCUMBERED BY A SEWER EASEMENT THAT RUNS WHERE THE FOUNDATION OF A BLD WOULD BE. HOW WILL THIS AFFECT THE OWNER WHO WANTS TO BUILD A HOUSE? | THE HOUSE MUST BE CONSTRUCTED TO AVOID THE EASEMENT |
THE OWNER DIVIDES A PARCEL INTO TWO LOTS. ONE OF WHICH IS SURROUNDED BY OTHER LOTS AND HAS NO STREET ACCESS. WHICH IS TRUE? | AS EASEMENT BY NECESSITY SHOULD BE CREATED FOR THE LAND-LOCKED PARCEL |
A COUPLES APT LEASE HAS EXPIRED, LL MENTIONED THEY MAY REMAIN UNTIL SALE OF BLG IS CLOSED. THEY PAY NORMAL MONTHLY RENT DURING THIS PERIOD. THE TENANCY HELD BY THE TENANTS IS CALLED | AN ESTATE AT WILL |
GENERALLY, AN ORAL LEASE FOR FIVE YEARS IS | UNECFORCEABLE |
A CO. BUILT A VERY LARGE COMPLEX OF BUILDINGS FROM WHICH IT OPERATES WORLDWIDE. HOW CAN THE CO. EXTRACT THE MAXIMUM AMT OF MONEY FROM THESE R.E. HOLDINGS? | USE A SALE AND LEASE BACK |
RENT IS BEST DEFINED AS | THE CONSIDERATION FOR THE USE OF REAL PROPERTY |
A TENANT LEASES A HEATED APT. BUT THE LL FAILS TO PROVIDE HEAT BECAUSE OF A DEFECTIVE CENTRAL HEATING PLANT. THE TENANT VACATED THE PREMISES AND REFUSES TO PAY ANY RENT. THIS IS AN EXAMPLE OF | CONSTRUCTIVE EVICTION |
ALL OF THE FOLLOWING TENANCIES INVOLVE A LESSOR-LESSEE | - TENANCY AT WILL - TENANCY FROM MO. TO MO. - TENANCY FROM YEAR TO YEAR |
UNDER THE PROVISIONS OF A TYPICAL COMMERCIAL LEASE, ANY TRADE FIXTURES THAT REMAIN IN THE PROPERTY AFTER THE LEASE HAS EXPIRED WILL BE THE PROPERTY OF | A LESSOR |
WHICH OF THE FOLLOWING WILL TERMINATE A LEASE | EXPIRATION OF THE TERM OF THE LEASE |
A VALID LEASE MUST CONTAIN A | STATEMENT OF THE SPECIFIC LENGTH OF TIME |
THE AUTHORITY TO CARRY OUT THE EVICTION OF A DELINQUENT TENANT FROM RENTED PROPERTY IS HELD BY THE | SHERIFF |
THE TENANT'S LEASE HAS EXPIRED, BUT THE TENANT HAS NOT VACATED OR NEGOTIATED TO RENEW. LL DOES NOT WANT THE TENANTS LIVING THERE ANYMORE. THIS IS CALLED | TENANTS AT SUFFERANCE |
WHEN A TENANT SUBLETS ALL OR ANY PART OF THE PREMISES RENTED UNDER A WRITTEN LEASE THE | ORIGINAL LEASE IS UNAFFECTED UNLESS IT CONTAINS A PROVISION THAT PROHIBITS SUCH SUBLETTING |
ALL OF THE FOLLOWING WOULD ACQUIRE TITLE TO REAL PROPERTY | A GRANTEE - A DEVISEE - A VENDEE |
THE PRINCIPAL DIFFERENCE BETWEEN AN ESTATE FOR YEARS AND AN ESTATE FROM YEAR TO YEAR IS THAT AN ESTATE | FROM YR TO YR HAS NO EXPIRATION DATE |
A LESSEE WHO PAYS SOME OR ALL OF THE PROPERTY EXPENSES HAS A | NET LEASEE |
THE COVENANT IMPLIED IN A LEASE THAT ENSURES THAT THE TENANT WILL NOT BE EVICTED BY SOMEONE CLAIMING OWNERSHIP OF THE PROPERTY PRIOR TO THAT OF THE LESSOR IS THE COVENANT | A QUIET ENJOYMENT |
ACCORDING TO THE WRITTEN ONE YEAR LEASE, THE TENANT WILL EXPIRED ON MAY 1. TO OBTAIN POSSESSION AS OF THAT DATE, THE LL MUST GIVE THE TENANT | NO NOTICE |
THE OWNER OF R.E. WHO LEASE IT TO ANOTHER IS CALLED THE | LESSOR |
A LEASE THAT WILL TERMINATE WITHIN ONE YEAR OF ITS INCEPTION | CAN BE VERBAL |
WHICH OF THE FOLLOWING IS THE BEST DEFINITION OF ACTUAL EVECTION | THE ENFORCEMENT OF A COURT ORDER TO REMOVE A LESSEE |
WHEN A TENANT HOLDS POSSESSION OF A LL PROPERTY W/OUT A DEFINITE LEASE TERM BUT WITH THE CONSENT OF THE LL, THIS IS CALLED | TENANCY AT WILL |
IN THE EVENT THAT IT IS NECESSARY, HOW MIGHT A LL REMOVE A TENANT FROM THE PREMISES | FILE AN EVICTION SUIT |
IF A LEASE BLD COLLAPSED AND THE TENANT WAS FORCED TO MOVE OUT, THIS COULD BE CALLED | CONSTRUCTIVE EVICTION |
WHEN A TENANT HAS AN ESTATE FOR YEARS | NO NOTICE IS REQUIRED TO TERMINATE THE LEASE |
A LESSEE IN POSSESSION OF PROPERTY UNDER A TENANCY AT WILL. ALSO KNOWN ... | THE TENANCY WILL TERMINATE IF THE LESSEE DIES |
UNDER A GROSS LEASE, THE LESSEE MAY BE REQUESTED TO PAY | PERSONAL PROPERTY INSURANCE |
WHICH OF THE FOLLOWING WOULD THE PARTIES USE FOR THE TENANT TO LEASE THE SPACE TO THE BUSINESS OWNER | A SUBLEASE |
A YOUNG COUPLE WITH A TODDLER & AND AN INFANT WANT TO LEASE AN APT IN A COMPLEX THAT IS OCCUPIED PRIMARILY BY ADULTS. RENTAL AGENT SHOWS THE COUPLE ATP ONLY ON THE 1ST FLOOR. | THE RENTAL AGENT SHOULD HAVE INQUIRED ABOUT THE COUPLES PREFERENCE FOR APARTMENTS |
THE LL LEASE PROHIBITS TENANTS FROM ALTERING THE PROP. IN ANY WAY. A YOUNG WOMAN WHO USES A WHEELCHAIR CANT MANEUVER. TRUTH TO THIS IS | THE TENANTS IS ENTITLED TO MAKE THE NECESSARY ALTERATIONS |
A TENANT IS LEASING A HOUSE UNTIL HE HAS SAVED ENOUGH MONEY FOR THE DOWN PYMT TO PERFORM ON THE SALES CONTRACT. WHAT TYPE OF ARRANGEMENT IS THIS | LEASE PURCHASE AGREEMENT |
A LEASE AGREEMENT IS SIGNED BY A LESSEE WHO IS 17 YRS OF AGE. WHAT IS THIS | THE LEASE AGREEMENT IS VOIDABLE |
AN INDIVIDUAL RENTS AN APT FOR ONE YR. THE LL SELLS THE BLD DURING THIS PERIOD. WHAT EFFECT DOES THE SALE HAVE ON THE LEASE | THE SALE DOES NOT HAVE AFFECT THE LEASE |
WHAT IS THE PURPOSE OF A SECURITY DEPOSIT | REPAIR DAMAGE TO THE PROPERTY CAUSED BY THE TENANT |
THE LESSOR & LESSEE HAVE AGREED TO A LEASE TERM OF FIVE YEARS. HOW CAN THE LESSOR ENSURE THAT THE RENTAL INCOME DURING THE TERM REFLECTS THE MARKET CONDITIONS | NEGOTIATE AN INDEX LEASE |
A MAN AND HIS SISTER BOUGHT A STORE BUILDING, TAKING TITLE AS JOINT TENANTS. THE MAN DIED TESTATE. HIS SISTER NOW OWNS THE STORE | IN SEVERALTY |
THE OWNER OF A FEE SIMPLE ESTATE CONVEYS THE FARM TO THE STATE TO BE USED AS A PARK BUT RESERVES THE RIGHT TO LIVE IN THE OLD FARMHOUSE. THE OWNER HAS A | LIFE INTEREST |
3 CO-OWNERS CANNOT AGREE ON THE USE AND DISPOSITION OF THE PROPERTY THAT THEY OWN TOGETHER. 2 WANT TO SELL AND THE 3RD WANTS TO KEEP THE PROP. WHAT CAN THEY DO TO SOLVE THEIR PROBLEM | THEY CAN FILE A PARTITION SUIT |
WHICH OF THE FOLLOWING IS CONSIDERED COMMUNITY PROPERTY | A GIFT OF PROP TO THE WIFE DURING MARRIAGE - PRPO INHERITED BY THE HUSBAND DURING MARRIAGE - INCOME EARNED BY EITHER PARTY BEFORE THE MA |
A TRUST IS A LEGAL ARRANGEMENT WHEREBY THE TITLE TO PROP IS HELD FOR THE BENEFIT OF A 3RD PARTY BY | A TRUSTEE |
AN PERSON LIVES IN AN APT BLD. THE LAND AND STRUCTURE ARE OWNED BY A CORP., WITH ONE MTG LOAN COVERING THE ENTIRE PROPERTY. LIKE THE OTHER RESIDENTS, THIS PERSONN OWNS STOCK IN CORP. AND HAS A LEASE TO HIS APT. THIS TYPE OF OWNERSHIP IS CALLED A | COOPERATVE |
2 PPL, ARE CO-OWNERS, FEE SIMPLE INTEREST IN A SMALL OFFICE. OLDER DIES INTESTATE AND LEAVES NO ESTATE. YOUNG MAN NOT RELATED. HOW DOES YOUNG MAN AQUIRE THE OLD MAN INTEREST | JOINT TENANCY |
AN OWNERSHIP INTEREST BASED ON ANIMAL OCCUPANCY INTERVALS IS A | TIME-SHARE |
2 BROTHERS AND THEIR SISTER ARE JOINT TENANTS OWNING A PARCEL OF LAND. THE SISTER CONVEYS HER INTEREST TO A LONGTIME FRIEND. AFTER THE CONVEYANCE, THE TWO BROTHERS | REMAIN JOINT TENANTS OWNING A TWO-THIRD INTEREST |
5 PEOPLE JOINTLY OWN A BUSINESS. ONLY ONE IS ACTIVE IN THE BUSINESS, THE OTHER FOUR CONTRIBUTE FUNDS BUT DO NOT PARTICIPATE IN THE DAY-TODAY OPERATIONS | LIMITED PARTNERSHIP |
EQUAL RIGHTS OF POSSESSION ARE CHARACTERISTIC IN ALL OF THE FOLLOWING | TENANCY IN COMMON - TENANCY BY THE ENTIRETY - JOINT TENANCY |
IN A GIFT OF A PARCEL OF REAL ESTATE, ONE OF THE TWO OWENRS WAS GIVEN AN UNDIVIDED 60% INTEREST AND THE OTHER RECEIVED AN UNDIVIDED 40% INTEREST. THE TWO OWNERS HOLD THEIR INTERESTS AS | TENANTS INCOMMON |
IN A COMMUNITY PROPERTY STATE, SEPARATE PROPERTY IS OWNED | SOLELY BY EITHER SPOUSE BEFORE THE MARRIAGE OR ACQUIRED BY GIFT OR INHERITANCE BY EITHER SPOUSE DURING THE MARRIAGE |
UNDER PA UNIFORM CONDOMINIUM ACT, EACH SUCCEEDING PURCHASE MUST BE GIVEN A COPY OF THE | RESALE CERTIFICATE |
TO CREATE A JOINT TENANCY RELATIONSHIP IN THE OWNERSHIP OF R.E., THERE MUST BE UNITIES OF | POSSESSION, TIME, INTEREST AND TITLE |
A PERSON WHO OWNS ONE UNIT IN A MUNTI-UNIT STRUCTURE TOGETHER WITH A SPECIFIED UNDIVIDED INTEREST IN THE COMMON ELEMENTS OWNS A | CONDOMINIUM |
A JOINT TENANCY WITH RIGHT OF SURVIVORSHIP MAY BE CREATED | BE DEED OR WILL |
THE OWNER OF A CONDOMINIUM UNIT LEARNS THAT A NEIGHBOR HAS FAILED TO PAY HIS REAL ESTATE TAXES. IF THIS NEIGHBOR DOES NOT PAY THE TAXES, | A LIEN CAN BE FILED AGAINST THE NEIGHBORS UNIT AND HIS PERCENTAGE OF THE COMMON ELEMENTS |
A PROPERTY HELD AS TENANCY BY THE ENTIRELY REQUIRES WHICH OF THE FOLLOWING | THE CO-TENANTS MUST BE HUSBAND AND WIFE |
ALL OF THE FOLLOWING ARE ELEMENTS OF A JOINT TENANCY WITH RIGHT OF SURVIVOR SHIP | IT IS CREATED ONLY WHEN 4 UNITIES ARE PRESENT - IT CANNOT BE CREATED BY OPERATION OF LAW - THE LAND MAY BE THE SUBJECT OF A SUIT TO PARTITION |
WHICH OF THE FOLLOWING IS A TRUE STATEMENT ABOUT CO-OPERATIVE OWNERSHIP | A DECLARATION MUST BE FILED BEFORE ANY UNITS MAY BE SOLD - EACH UNIT OWNER HAS A FRACTIONAL UNDIVIDED INTEREST IN THE COMMON ELEMENTS - EACH OWNERS RECEIVES A SEPARATE R.E. TAX STATEMENT. |
A COUPLE DOWNSIZES AND MOVES INTO A COOPERATIVE APT BUILDING. IN A COOPERATIVE, THEY WILL | BECOME STOCKHOLDERS IN A CORPORATION |
A SEVERALTY OWNER OF A PARCEL OF LAND SELLS IT TO A BUYER. THE BUYER INSISTS THAT THE OWNERS WIFE JOIN IN SIGNING THE DEED. THE PURPOSE OF OBTAINING THE WIFE SIGNATURE IS TO | TERMINATE ANY RIGHTS THE WIFE MAY HAVE IN THE PROPERTY |
UNDER THE CONDOMINIUM FORM OF OWNERSHIP, THE OWNERS INTEREST IN THE UNIT IS NORMALLY A | FEE SIMPLE ESTATE |
TENANCY WITH SURVIVORSHIP MEANS | THE TENANCY INTEREST MAY BE HELD BY THE REMAINING TENANTS UPON DEACH |
WHAT IS THE PRIMARY DISADVANTAGE OF A CORPORATION | PAYS TAXES TWICE |
A PERSON PURCHASE A FEE SIMPLE ESTATE AND HAS AN UNDIVIDED INTEREST IN COMMON ELEMENTS. WHAT DOES THIS PERSON OWN | CONDOMINIUM |
WHICH OF THE FOLLOWING IS TRUE ABOUT CONDOMINIUM OWNERSHIP | THE LIMITED COMMON ELEMENTS CANNOT BE SOLD SEPARATELY |
THE OWNER OF A CONDOMINIUM IS RESPONSIBLE FOR PAYING A MONTHLY MAINTENANCE FEE. IF THE OWNER FAILS TO MAKE THIS PAYMENT, WHICH OF THE FOLLOWING IS TRUE | THE DEPT BECOMES A LIEN AGAINST THE UNIT. |