Florida Real Estate Exam Chapter 8
Estates Questions with Verified
Answers
Estates are estates of ownership. - ANSWERSFreehold
Estates are estates of possession. - ANSWERSLeasehold
The most comprehensive estate and is inheritable. - ANSWERSLeasehold
An estate measured by a natural life span. - ANSWERSLife
An estate ____ occurs when the property returns to the grantor. - ANSWERSin
reversion
A _____ (vested/contingent)___ remainderman refers to someone whose legal name is
specified - ANSWERS.vested
A _____ (vested/contingent)___ remainderman refers to someone whose legal name is
not specified (ie: first born child) - ANSWERScontingent
A written lease agreement with a specific starting and ending date. - ANSWERSestate
for years
An oral agreement or one that has no specific ending date. - ANSWERStenancy at will
Occurs when the leas period has ended and the tenant is a hold over. -
ANSWERStenancy at sufferance
This estate offers the largest bundle of legal rights. - ANSWERSfee simple
freehold - ANSWERSA life estate is a type of __(freehold/leasehold)__ estate
Fee simple estates are a type of __(freehold/leasehold)__ estate - ANSWERSfreehold
When a life estate ends, the property reverts to the original grantor or goes to a third
party called a ____. - ANSWERSremainderman
Sue Jones's deed states that she owns the property for her lifetime and that upon her
death, the property will transfer to her sons, Matt and Adam . Sue has a life estate, and
Matt and Adam have _______ . - ANSWERSc) remainder estate
, In Florida if a homesteaded property is titled in one spouse's name only, by operation of
law, the surviving spouse receives a______ to the homesteaded property and the
children receive a remainder estate. - ANSWERSb) life estate
If a married person with no children dies and the family homestead was titled in that
deceased person's name only (in severalty), by operation of law (even if a will states
otherwise), the surviving spouse receives a _____ estate. - ANSWERSfee simple
The homestead tax exemption is deducted from the ______ . - ANSWERSassessed
value
The current homestead exemption for qualifying homesteads is up to $_______. -
ANSWERS50,000
The size of homestead property is restricted to _________ of contiguous land and
improvements outside a municipality (city) or up to____ of contiguous land and
improvements if the property is located within the city. - ANSWERS160 acres / 1/2 acre
Homestead protections include an exemption of $ ______ of value of personal property.
- ANSWERS1000
Estate with a known duration and does not involve an ownership interest. -
ANSWERSleasehold
Under a lease, the tenant possesses a _____ estate, and the landlord (property owner)
possesses a reversion estate. - ANSWERSleasehold
Under a lease, the tenant possesses a leasehold estate, and the landlord (property
owner) possesses _____. - ANSWERSestate in reversion
An estate that exists for a designated period, which may be any length of time from less
than a year to a period of many years (such as a 99-year lease). - ANSWERSan estate
for years
A tenancy with a specified starting and ending date is also known as an _____. -
ANSWERSan estate for years
A lease agreement that has a beginning date but no fixed termination date, such as a
week-to-week or month to month agreement. - ANSWERStenancy at will
Tenancies at will may be ________ or__________ agreements. - ANSWERSwritten /
oral
A leasehold estate created by a written lease agreement. - ANSWERSestate for years
Estates Questions with Verified
Answers
Estates are estates of ownership. - ANSWERSFreehold
Estates are estates of possession. - ANSWERSLeasehold
The most comprehensive estate and is inheritable. - ANSWERSLeasehold
An estate measured by a natural life span. - ANSWERSLife
An estate ____ occurs when the property returns to the grantor. - ANSWERSin
reversion
A _____ (vested/contingent)___ remainderman refers to someone whose legal name is
specified - ANSWERS.vested
A _____ (vested/contingent)___ remainderman refers to someone whose legal name is
not specified (ie: first born child) - ANSWERScontingent
A written lease agreement with a specific starting and ending date. - ANSWERSestate
for years
An oral agreement or one that has no specific ending date. - ANSWERStenancy at will
Occurs when the leas period has ended and the tenant is a hold over. -
ANSWERStenancy at sufferance
This estate offers the largest bundle of legal rights. - ANSWERSfee simple
freehold - ANSWERSA life estate is a type of __(freehold/leasehold)__ estate
Fee simple estates are a type of __(freehold/leasehold)__ estate - ANSWERSfreehold
When a life estate ends, the property reverts to the original grantor or goes to a third
party called a ____. - ANSWERSremainderman
Sue Jones's deed states that she owns the property for her lifetime and that upon her
death, the property will transfer to her sons, Matt and Adam . Sue has a life estate, and
Matt and Adam have _______ . - ANSWERSc) remainder estate
, In Florida if a homesteaded property is titled in one spouse's name only, by operation of
law, the surviving spouse receives a______ to the homesteaded property and the
children receive a remainder estate. - ANSWERSb) life estate
If a married person with no children dies and the family homestead was titled in that
deceased person's name only (in severalty), by operation of law (even if a will states
otherwise), the surviving spouse receives a _____ estate. - ANSWERSfee simple
The homestead tax exemption is deducted from the ______ . - ANSWERSassessed
value
The current homestead exemption for qualifying homesteads is up to $_______. -
ANSWERS50,000
The size of homestead property is restricted to _________ of contiguous land and
improvements outside a municipality (city) or up to____ of contiguous land and
improvements if the property is located within the city. - ANSWERS160 acres / 1/2 acre
Homestead protections include an exemption of $ ______ of value of personal property.
- ANSWERS1000
Estate with a known duration and does not involve an ownership interest. -
ANSWERSleasehold
Under a lease, the tenant possesses a _____ estate, and the landlord (property owner)
possesses a reversion estate. - ANSWERSleasehold
Under a lease, the tenant possesses a leasehold estate, and the landlord (property
owner) possesses _____. - ANSWERSestate in reversion
An estate that exists for a designated period, which may be any length of time from less
than a year to a period of many years (such as a 99-year lease). - ANSWERSan estate
for years
A tenancy with a specified starting and ending date is also known as an _____. -
ANSWERSan estate for years
A lease agreement that has a beginning date but no fixed termination date, such as a
week-to-week or month to month agreement. - ANSWERStenancy at will
Tenancies at will may be ________ or__________ agreements. - ANSWERSwritten /
oral
A leasehold estate created by a written lease agreement. - ANSWERSestate for years
