Humber Real Estate - Course 1, Module 3 exam 2024 with 100% correct answers

Define 'Estate' - correct answer An interest in land that contains various rights associated with ownership or tenancy. What are the 2 most common types of estates? - correct answer Fee simple & leasehold. What type of rights would be required to build a bridge, railroad or skyscraper? - correct answer Air rights What type of rights would be required to build on a parcel of land? - correct answer Surface (or ground level) rights What type of rights manage the property owner's access to and use water, and are often encountered in the listing and selling of recreational properties? - correct answer Riparian rights What type of rights would be required before removing gas, gold, oil, silver or precious metals from the ground? - correct answer Mineral rights What are the 2 types of concurrent ownership? - correct answer - Joint tenancy - Tenancy in common What is the primary difference between joint tenancy and tenants in common? - correct answer Survivorship A man buys a home with his new spouse, but upon his death he wants the estate to be passed down to his adult daughter from a previous marriage, not his new spouse. What type of concurrent ownership should the coup