AREC EXAM QUESTIONS WITH 100%
VERIFIED CORRECT ANSWERS!!
Thelma, Sidney, and Shirley meet at the Crusty Acres Retirement Center. Tired of
unsalted oatmeal and an 8:30 p.m. curfew, they decide to ditch this joint, pool their
resources, and buy a happenin' little condo uptown. Because they want to ensure that no
one is displaced from the condo in the event of one owner's death, they decide to hold title
in such a way that if any of them dies, the others own the deceased person's shares. How
should they hold title?
Joint Tenancy
With tenancy in common, only the unity of possession is required. Joint tenancy requires
several unities. Which of these unities are required for joint tenancy? Choose all that apply.
Time
Possession
Title
Interest
All 4
Madge and Steve are married when they purchase a townhouse. They take ownership
under this type of tenancy, which has the right of survivorship. That means if Steve dies,
Madge becomes the sole owner of the townhouse. Likewise, if Madge dies, Steve becomes
the sole owner. Neither may pledge his or her interest in the property to another without
the other spouse joining in the deed. If Madge and Steve divorce, their tenancy would end
automatically by divorce decree, and they would become tenants in common. What type of
ownership do Madge and Steve have?
Estate in severalty
Tenancy in common
Joint tenancy
Tenancy by the Entirety
, Tenancy by the Entirety
Sherman, who owns property in a life estate, neglects the property, significantly
diminishing its value. This is called ______.
A lease option
An act of waste
An estate at sufferance
A possessional prerogative
An act of waste
Where permitted, married couples usually hold property as ______.
Joint tenancy
Tenancy by the entirety
Tenancy in common
Tenancy in severalty
Tenancy by the entirety
Sam and Bridget are cousins who jointly own property. They are both named on the deed,
they received title at the same time, they have the right of survivorship, and they each have
equal interest and undivided rights of possession. What type of ownership do they have?
Estate in severalty
Joint tenancy
Tenancy by the entirety
Tenancy in common
Joint tenancy
Lucy inherited some land. When she makes the drive to check on it about two years later,
she finds that, to her surprise, someone is living in a small cottage on that property. What's
this an example of?
VERIFIED CORRECT ANSWERS!!
Thelma, Sidney, and Shirley meet at the Crusty Acres Retirement Center. Tired of
unsalted oatmeal and an 8:30 p.m. curfew, they decide to ditch this joint, pool their
resources, and buy a happenin' little condo uptown. Because they want to ensure that no
one is displaced from the condo in the event of one owner's death, they decide to hold title
in such a way that if any of them dies, the others own the deceased person's shares. How
should they hold title?
Joint Tenancy
With tenancy in common, only the unity of possession is required. Joint tenancy requires
several unities. Which of these unities are required for joint tenancy? Choose all that apply.
Time
Possession
Title
Interest
All 4
Madge and Steve are married when they purchase a townhouse. They take ownership
under this type of tenancy, which has the right of survivorship. That means if Steve dies,
Madge becomes the sole owner of the townhouse. Likewise, if Madge dies, Steve becomes
the sole owner. Neither may pledge his or her interest in the property to another without
the other spouse joining in the deed. If Madge and Steve divorce, their tenancy would end
automatically by divorce decree, and they would become tenants in common. What type of
ownership do Madge and Steve have?
Estate in severalty
Tenancy in common
Joint tenancy
Tenancy by the Entirety
, Tenancy by the Entirety
Sherman, who owns property in a life estate, neglects the property, significantly
diminishing its value. This is called ______.
A lease option
An act of waste
An estate at sufferance
A possessional prerogative
An act of waste
Where permitted, married couples usually hold property as ______.
Joint tenancy
Tenancy by the entirety
Tenancy in common
Tenancy in severalty
Tenancy by the entirety
Sam and Bridget are cousins who jointly own property. They are both named on the deed,
they received title at the same time, they have the right of survivorship, and they each have
equal interest and undivided rights of possession. What type of ownership do they have?
Estate in severalty
Joint tenancy
Tenancy by the entirety
Tenancy in common
Joint tenancy
Lucy inherited some land. When she makes the drive to check on it about two years later,
she finds that, to her surprise, someone is living in a small cottage on that property. What's
this an example of?
