2024 NYS REAL ESTATE EXAM
When a deed does not specify the estate being conveyed, it is presumed to transfer -
answer Fee Simple Absolute
Possession, Control and enjoyment are included in which of the following? - answer
Bundle of Rights
If Alycia deeds property to Bernice and her heirs, with the stipulation that if Bernice
leaves no heirs the property will then go to Cynthia, then Cynthia now holds which type
of estate? - answer Remainder Estate
In a deed that states "to Jonathan for his life" what type of interest does the grantor
have? - answer Reversionary Interest
A life estate may be granted for which of the following purposes? - answer Personal
Residence, Business Operations & Investment Purposes
Which of the following is NOT a type of Freehold Estate? - answer Leasehold Estate
Fee simple ownership includes all of the following rights EXCEPT? - answer Right to
Transfer ownership after Death
In a scenario where an elderly couple grants a hospital a gift of real property while
reserving Life estate for themselves, the hospital is considered the: - answer Grantee
Which of the following activities is NOT permitted for the owner of a life estate? - answer
Selling the life estate interest
A widow who is given the right to use the family home for her lifetime, with ownership
passing to the children upon her death, holds which type of interest? - answer Life
Estate
Which of the following statements is true regarding a life estate? - answer The life
tenant is responsible for paying property taxes and maintenance
What term is used to describe the degree, quantity or nature of a person's interest in
real property? - answerInterest in Land
The return of land to the grantor or grantor's heirs when the grant is over is BEST
described as - answerReversion
, How should an estate in Land vested in a grantee "until she marries" be properly
classified - answerfee simple determinable
Which of the following is an example of a less than freehold estate? - answerLeasehold
Estate
With respect to property how is the term estate BEST described? - answerThe legal
interest or rights a person has in real property
Which statement provides the strongest assurance of fee simple ownership? -
answerTo have and to hold forever
In the administration of an estate who typically selects the administrator? - answerThe
Court
Which of the following characteristics does NOT describe a fee simple estate -
answerTransferred upon the death of the owner
When a man dies without leaving a valid will - answerIntestate
A woman possesses a fee simple estate. Which of the following actions can she NOT
do to the property - answerModify or alter the property
A farmer sold a portion of his farm to a railroad company with the condition "as long as it
remains a rail line." If the rail line is abandoned, the property reverts back to the farmer
or the farmers heirs. What type of estate is described in this scenario? -
answerDefeasible Estate
Which term refers to the largest estate or ownership in real property - answerFee
Simple Estate
The holder of which of the following would be considered a "non freeholder"? -
answerLeasehold Estate
Which of the following actions is NOT permitted for the grantor of a life estate? -
answerRevoke or Terminate the Life Estate at Any Time
Where would a licensee be advised to go to clarify any questions about an
encroachment concerning a property she is selling? - answerSurveyors office
In a scenario where the owner sold a property with a restriction on selling alcohol, but
the subsequent buyer violated the restriction, what would be the basis for the owner or
owner's heirs to claim a right of re-entry? - answerBreach of Contract
Which of the following items is an example of personal property? - answerCar
When a deed does not specify the estate being conveyed, it is presumed to transfer -
answer Fee Simple Absolute
Possession, Control and enjoyment are included in which of the following? - answer
Bundle of Rights
If Alycia deeds property to Bernice and her heirs, with the stipulation that if Bernice
leaves no heirs the property will then go to Cynthia, then Cynthia now holds which type
of estate? - answer Remainder Estate
In a deed that states "to Jonathan for his life" what type of interest does the grantor
have? - answer Reversionary Interest
A life estate may be granted for which of the following purposes? - answer Personal
Residence, Business Operations & Investment Purposes
Which of the following is NOT a type of Freehold Estate? - answer Leasehold Estate
Fee simple ownership includes all of the following rights EXCEPT? - answer Right to
Transfer ownership after Death
In a scenario where an elderly couple grants a hospital a gift of real property while
reserving Life estate for themselves, the hospital is considered the: - answer Grantee
Which of the following activities is NOT permitted for the owner of a life estate? - answer
Selling the life estate interest
A widow who is given the right to use the family home for her lifetime, with ownership
passing to the children upon her death, holds which type of interest? - answer Life
Estate
Which of the following statements is true regarding a life estate? - answer The life
tenant is responsible for paying property taxes and maintenance
What term is used to describe the degree, quantity or nature of a person's interest in
real property? - answerInterest in Land
The return of land to the grantor or grantor's heirs when the grant is over is BEST
described as - answerReversion
, How should an estate in Land vested in a grantee "until she marries" be properly
classified - answerfee simple determinable
Which of the following is an example of a less than freehold estate? - answerLeasehold
Estate
With respect to property how is the term estate BEST described? - answerThe legal
interest or rights a person has in real property
Which statement provides the strongest assurance of fee simple ownership? -
answerTo have and to hold forever
In the administration of an estate who typically selects the administrator? - answerThe
Court
Which of the following characteristics does NOT describe a fee simple estate -
answerTransferred upon the death of the owner
When a man dies without leaving a valid will - answerIntestate
A woman possesses a fee simple estate. Which of the following actions can she NOT
do to the property - answerModify or alter the property
A farmer sold a portion of his farm to a railroad company with the condition "as long as it
remains a rail line." If the rail line is abandoned, the property reverts back to the farmer
or the farmers heirs. What type of estate is described in this scenario? -
answerDefeasible Estate
Which term refers to the largest estate or ownership in real property - answerFee
Simple Estate
The holder of which of the following would be considered a "non freeholder"? -
answerLeasehold Estate
Which of the following actions is NOT permitted for the grantor of a life estate? -
answerRevoke or Terminate the Life Estate at Any Time
Where would a licensee be advised to go to clarify any questions about an
encroachment concerning a property she is selling? - answerSurveyors office
In a scenario where the owner sold a property with a restriction on selling alcohol, but
the subsequent buyer violated the restriction, what would be the basis for the owner or
owner's heirs to claim a right of re-entry? - answerBreach of Contract
Which of the following items is an example of personal property? - answerCar
