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CARE Prin. Ch. 6:2-Q
Part 2: Holding Title Questions
| Question | Answer |
|---|---|
| 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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