UNIT 5 REVIEW QUESTION WITH
VERIFIED ANSWERS LATEST UPDATE
A sswoman sslives ssin ssan ssapartment ssin ssa sshighrise ssbuilding. ssShe ssowns ssa
sscertain ssnumber ssof ssshares ssof ssstock ssin ssa ssdevelopment sscorporation ssand sshas
ssa ssproprietary sslease ssto ssher ssunit. ssHer ssform ssof ssownership ssis ssa
A. ssa sscondominium.
B. ssa sscooperative.
C. ssa sstime-share.
D. ssan ssinvestment sstrust. ss- ssAnswer ssB. ssa sscooperative. ssPage ss72.
A sscouple sslives ssin ssa sstwo-story sstown sshouse ssand ssholds ssa ssfee sssimple
ssinterest ssin sstheir sstown sshouse ssplus ssan ssundivided ssinterest ssin ssthe sscommon
sselements ssof ssthe sscommunity: ssswimming sspool, sstennis sscourts, sslandscaping ss,
ssand ssexterior ssmaintenance. ssTheir ssform ssof ssownership ssis
A. ssa sscondominium.
B. ssa sscooperative.
C. ssa sstime-share.
D. ssa ssright-to-use. ss- ssAnswer ssA. ssa sscondominium. ssPage ss73.
All ssof ssthe ssfollowing ssunities ssare ssjoint sstenancy ssEXCEPT
A. sstime
B. sstitle.
C. ssinterest.
D. sssurvivorship. ss- ssAnswer ssD. sssurvivorship. ssPage ss66.
A ssman sshas ssfour sspieces ssof ssland ssthat sshe sswould sslike ssto sshave ssheld ssin sstrust
ssfor sshis ssgrandson. ssAn ssattorney ssfriend sshas ssoffered ssto ssassume ssthe ssduties
ssof sscare ssand ssmaintenance ssof ssthe sstrust. ssThe ssgrandson sswill ssbe sscalled
A. ssthe sstrustor ss.
B. ssthe sstrustee.
C. ssthe ssbeneficiary
D. ssthe ssfiduciary. ss- ssAnswer ssC. ssthe ssbeneficiary. ssPage ss69.
Two ssdoctors sspurchased ssa sscondominium ssunit sswhere ssthey sspractice ssmedicine.
ssLater, ssone ssof ssthe ssdoctors ssdied. ssThe ssother ssdoctor, sswho sswas ssnot ssnamed
ssin ssthe ssdeceased ssdoctor's sswill, ssnow ssowns ssthe ssentire ssinterest ssin ssthe
ssproperty. ssThey ssapparently ssheld ssthe ssproperty ssas
A. sstenants ssin sscommon.
VERIFIED ANSWERS LATEST UPDATE
A sswoman sslives ssin ssan ssapartment ssin ssa sshighrise ssbuilding. ssShe ssowns ssa
sscertain ssnumber ssof ssshares ssof ssstock ssin ssa ssdevelopment sscorporation ssand sshas
ssa ssproprietary sslease ssto ssher ssunit. ssHer ssform ssof ssownership ssis ssa
A. ssa sscondominium.
B. ssa sscooperative.
C. ssa sstime-share.
D. ssan ssinvestment sstrust. ss- ssAnswer ssB. ssa sscooperative. ssPage ss72.
A sscouple sslives ssin ssa sstwo-story sstown sshouse ssand ssholds ssa ssfee sssimple
ssinterest ssin sstheir sstown sshouse ssplus ssan ssundivided ssinterest ssin ssthe sscommon
sselements ssof ssthe sscommunity: ssswimming sspool, sstennis sscourts, sslandscaping ss,
ssand ssexterior ssmaintenance. ssTheir ssform ssof ssownership ssis
A. ssa sscondominium.
B. ssa sscooperative.
C. ssa sstime-share.
D. ssa ssright-to-use. ss- ssAnswer ssA. ssa sscondominium. ssPage ss73.
All ssof ssthe ssfollowing ssunities ssare ssjoint sstenancy ssEXCEPT
A. sstime
B. sstitle.
C. ssinterest.
D. sssurvivorship. ss- ssAnswer ssD. sssurvivorship. ssPage ss66.
A ssman sshas ssfour sspieces ssof ssland ssthat sshe sswould sslike ssto sshave ssheld ssin sstrust
ssfor sshis ssgrandson. ssAn ssattorney ssfriend sshas ssoffered ssto ssassume ssthe ssduties
ssof sscare ssand ssmaintenance ssof ssthe sstrust. ssThe ssgrandson sswill ssbe sscalled
A. ssthe sstrustor ss.
B. ssthe sstrustee.
C. ssthe ssbeneficiary
D. ssthe ssfiduciary. ss- ssAnswer ssC. ssthe ssbeneficiary. ssPage ss69.
Two ssdoctors sspurchased ssa sscondominium ssunit sswhere ssthey sspractice ssmedicine.
ssLater, ssone ssof ssthe ssdoctors ssdied. ssThe ssother ssdoctor, sswho sswas ssnot ssnamed
ssin ssthe ssdeceased ssdoctor's sswill, ssnow ssowns ssthe ssentire ssinterest ssin ssthe
ssproperty. ssThey ssapparently ssheld ssthe ssproperty ssas
A. sstenants ssin sscommon.
