Pearson Vue Exam Questions | 85 Questions with 100 % Correct Answers | Verified

Real property interests include... - an appurtenance that goes with the land. Examples: buildings, fences, trees, water rights, the ground below, mineral rights, air rights, easements What is a form of ownership that is restricted to husbands and wives? - Tenancy by the entirety. Each owns the entire parcel. Neither can separately convey and interest during the other's life time. On the death of a spouse, the survivor owns the property Divorce would change this ownership to a tenancy in common What would result from a condition in a deed? a. fee simple b. defeasible fee c. chattels real. d. nonfreehold estate - B. Defeasible Fee Fee simple determinable is a defeasible estate that could be lost lost upon the happening of a specified condition. If a deed specifies that a grant shall be only "for as long as"; or while a property is in a particular use, the length of the estate is really determined by the deed J installed central air-conditioning in his home. the compressor unit, which was located outside the home, would be regarded as what? - Real property an investor's personal assets could be subject to a creditor's claim in a... - General PartnershipAn active partner and has unlimited personal liability for the debts of the partnership. One general partner can personally obligate the other general partners (Part of Tenancy in Partnership) How does an S corporation differ from other corporations? - Its investors have no personal liability A tenant in a commercial building installed a large sign that was anchored to the building with steel rods. Which term properly describes the sign? A.Fixture B. Trade fixture C. Real Property D. Emblement - B. Trade Fixture