Charles Barnes Real estate exam
prep Questions and Verified Answers
| Accurate Solutions | Get it 100%
Correct!! | Already Graded A
Littoral Rights - ✔✔ANSWER✔✔->>Navigable, lakes, seas, ocean
Describe "fixture" - ✔✔ANSWER✔✔->>An item of personal property that has
been converted to real property
Four Unities of Joint Tenancy - ✔✔ANSWER✔✔->>Unity of Time
Unity of Title
Unity of Interest
Unity of Possession
,Condo owners share of maintenance &operations expenses are based on? -
✔✔ANSWER✔✔->>The units pro rata share of the property's value as defined in
the declaration
Define Real estate vs. real property - ✔✔ANSWER✔✔->>Wells, driveways and
signs on a parcel of land is Real estate
ordinary life estate - ✔✔ANSWER✔✔->>life of the tenant
tenancy in common - ✔✔ANSWER✔✔->>form of co-ownership in which the
shares may be unequal and there is no right of survivorship they can sell or
transfer rights at anytime w/O consent of others
Time share free hold - ✔✔ANSWER✔✔->>Undivided interests in the property as
tenants in common
Estate from period to period - ✔✔ANSWER✔✔->>Type of lease with no fixed
duration and continuously renews, like a month-to-month.
Legal life estate - ✔✔ANSWER✔✔->>a life estate created by the action of law
Estate at sufferance - ✔✔ANSWER✔✔->>Type of "lease" created when a lessee
wrongfully retains possession after the lease term has ended.
Encumber a property - ✔✔ANSWER✔✔->>Pledge the property for collateral for
debt
, Personal Property vs real property - ✔✔ANSWER✔✔->>If owner intended to
remove it after a period of time
Joint Tenancy - ✔✔ANSWER✔✔->>2 or more ownership holders own a fraction
of UNDIVIDED interest. Rights of survivorship apply. One title
Cooperatives (n) - ✔✔ANSWER✔✔->>a business or organization owned equally
by all the people working there [=co-op] a proprietary lease in a physical unit
The Bundle of Rights - ✔✔ANSWER✔✔->>Possession, Use or Control,
Enjoyment, Disposition enjoyed by the owner of the property
An estate at will - ✔✔ANSWER✔✔->>terminates on the death of lessor or lessee.
estate in land - ✔✔ANSWER✔✔->>A real property interest that includes the
right to possess
Improvements to the land - ✔✔ANSWER✔✔->>Include fences, streets buildings,
Wells, streets, sidewalks and piers
Personal Property - ✔✔ANSWER✔✔->>Movables, which are not annexed to or
part of, the land; also referred to as chattels.
In accordance with the statute of frauds, - ✔✔ANSWER✔✔->>The buyer
prep Questions and Verified Answers
| Accurate Solutions | Get it 100%
Correct!! | Already Graded A
Littoral Rights - ✔✔ANSWER✔✔->>Navigable, lakes, seas, ocean
Describe "fixture" - ✔✔ANSWER✔✔->>An item of personal property that has
been converted to real property
Four Unities of Joint Tenancy - ✔✔ANSWER✔✔->>Unity of Time
Unity of Title
Unity of Interest
Unity of Possession
,Condo owners share of maintenance &operations expenses are based on? -
✔✔ANSWER✔✔->>The units pro rata share of the property's value as defined in
the declaration
Define Real estate vs. real property - ✔✔ANSWER✔✔->>Wells, driveways and
signs on a parcel of land is Real estate
ordinary life estate - ✔✔ANSWER✔✔->>life of the tenant
tenancy in common - ✔✔ANSWER✔✔->>form of co-ownership in which the
shares may be unequal and there is no right of survivorship they can sell or
transfer rights at anytime w/O consent of others
Time share free hold - ✔✔ANSWER✔✔->>Undivided interests in the property as
tenants in common
Estate from period to period - ✔✔ANSWER✔✔->>Type of lease with no fixed
duration and continuously renews, like a month-to-month.
Legal life estate - ✔✔ANSWER✔✔->>a life estate created by the action of law
Estate at sufferance - ✔✔ANSWER✔✔->>Type of "lease" created when a lessee
wrongfully retains possession after the lease term has ended.
Encumber a property - ✔✔ANSWER✔✔->>Pledge the property for collateral for
debt
, Personal Property vs real property - ✔✔ANSWER✔✔->>If owner intended to
remove it after a period of time
Joint Tenancy - ✔✔ANSWER✔✔->>2 or more ownership holders own a fraction
of UNDIVIDED interest. Rights of survivorship apply. One title
Cooperatives (n) - ✔✔ANSWER✔✔->>a business or organization owned equally
by all the people working there [=co-op] a proprietary lease in a physical unit
The Bundle of Rights - ✔✔ANSWER✔✔->>Possession, Use or Control,
Enjoyment, Disposition enjoyed by the owner of the property
An estate at will - ✔✔ANSWER✔✔->>terminates on the death of lessor or lessee.
estate in land - ✔✔ANSWER✔✔->>A real property interest that includes the
right to possess
Improvements to the land - ✔✔ANSWER✔✔->>Include fences, streets buildings,
Wells, streets, sidewalks and piers
Personal Property - ✔✔ANSWER✔✔->>Movables, which are not annexed to or
part of, the land; also referred to as chattels.
In accordance with the statute of frauds, - ✔✔ANSWER✔✔->>The buyer
