ASREB exam 2023/2024 with 100% correct answers

A grantor conveyed a vacant one acre tract of land to a grantee. The grantee receives: - correct answer 43560 sq feet Fee simple title to a designated unit of air space with a percentage ownership of common elements in the property is called: - correct answer Condominum When a woman has an interest in land that will continue as long as she lives, she has: - correct answer Life Estate Tom and Sally are not married, but own a rental property together. Because they also have a right of survivorship, they most likely own the property in: - correct answer Joint Tenancy ABC Remodeling, Inc. buys a new warehouse for their trucks and excess building materials. How will they take title? - correct answer Tenancy in Severalty Ann has lots of real property and dies intestate, leaving no legal heirs. At her death, all real property will pass to the government by the process of: - correct answer Escheat A deed used to transfer title states that the conveyance will remain in effect "so long as the property is not used for the sale of alcoholic beverages." The buyer would receive what kind of estate? - correct answer Fee Simple Defeasible Estate The City of Largeville wishes to obtain title to privately owned property, in order to expand a highway. If the owner is unwilling to sell, the government can proceed by exercising its right of: - correct answer Eminent Domain All of the homes in Prairie Acres Subdivision appear to be built a uniform distance of 30 feet from the street. The probable reason is - correct answer Setback requirements in the subdivision regulations