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CARE Prin. Ch. 6:2-Q

Part 2: Holding Title Questions

QuestionAnswer
Under joint tenancy interests in real property must be Equal
Freehold estates are sometimes called Estates of Inheritance
A person who dies intestate normally has his or her property Distributed to his or her heirs
A valid deed requires A clear description of the property
A deed that includes the language “to have and to hold,” refers to The Habendum clause
A deed transfers title at the time of Delivery
A brother and sister would never hold property as Community property
Which of the four unities required for joint tenancy is also required for tenancy in common Equal rights of possession
One spouse with his/her funds alone may Buy real estate
In taking an offer from a corporate representative, a broker should be sure to check the representative’s authority. Where would this information most likely be found Corporation Bylaws (rules governing the corporation)
To be recorded a deed does not need to be signed by The grantee
If a spouse purchases real estate with funds from a joint account how will the property be titled As community property
Creditors can access your personal assets for the debts in what type of partnership General partnership
Which two ways of holding title can be subject to probate proceedings Severalty/Sole Ownership & Tenants in Common
What is the most important characteristic of joint tenancy Right of survivor-ship (one spouse dies, the surviving spouse acquires deceased property interests without a court action such as probate)
In what circumstance would community property have to go through probate proceedings after a one spouse dies When the deceased spouse leaves his/her interests to someone other than their surviving spouse or partner
True or False - In joint tenancy all interests holders must sign on the same date False
Three buyers take title to a property as joint tenants. How many deeds will there be Only one deed
Why can’t corporations hold title as joint tenants or community property Because a corporation never dies
Possession without fee ownership best describes A life estate
Created by: cobiagwu
 

 



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