Co-ownership of land Study guides, Class notes & Summaries

Tennessee National Portion Real Estate Exam Questions and Answers Already Passed A corporation is a legal entity that can buy and sell real estate as set out in its charter. Ownership in severalty is property owned by one individual or corporation. A house is owned by three joint tenants, and one of the owners, as permitted by state law, sells that interest to a new owner. The result is a tenancy in common between the new owner and the remaining joint tenants The owner of a con...

Bermuda Real Estate and Licensing Exam with Complete Solution Latest 2024/2025. Defect/Cloud in the title - Ans Conflicting claims that prevent the absolute legal conveyance of CLEAR TITLE Period to Period is a type of leasehold that: - Ans Has no specific expiration but the length is specified (like a month to month lease) Net Lease - Ans lease in which the tenant pays some or all of the operating expenses of the property in addition to rent. Often commercial. Adverse Possession - Ans A ...

Fl Cam License Final Exam Test 2024/2025 1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete - CORRECT ANSWER-B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2. Under the General Corpo...

What is real property? - Answer--Land and everything attached. -Law states land is owned to the center of the earth. What is a fixture? - Answer--Part of the land (ex. trees) How can real property become personal property? - Answer--Removal from land. -(ex. apple from a tree). How can personal property become real property? - Answer--Planted into land. -(ex. planted shrubbery or lumber used to erect building). Subterranean Rights - Answer--The right to extract minerals from the land. -Th...

Additions to the land (ie houses) that are artificially attached (personal) Economic characteristic of land Chapter 1 Indestructibility -Answer-Land is non destroyable. It can be altered but its geographic coordinates remain the same. (physical characteristic of land) Chapter 1 Non-homogeneity -Answer-Land: No two pieces are exactly alike. Another word for it is uniqueness. This can either be a good or bad thing in regards to selling a property. (physical characteristic of land) Chapter...

NC real estate broker pre-licensing exam Syndication -Answer-Two or more forms joining together as an entity to own real estate Estate in severalty -Answer-Ownership by one individual Concurrent ownership -Answer-Two or more persons share ownership with undivided interests Tenancy in common -Answer-Co-ownership without right of survivorship to other owners Police power -Answer-The broad right of the government to place reasonable restrictions on the use of privately held land Easement -An...

Pearson Vue National exam prep Real Estate, Questions And Correct Answers With Complete Verified Solutions Appurtenance including rights, privileges, and fixture Fixtures items attached to improvements with the intent to become real estate. Evident by the following: attachment/annexation, adaptation, or agreement. Transfer via a deed UNLESS they contract excludes them Emblements (crops) are exceptions. Trade fixtures are also exceptions Land and all appurtenances transfer via de...

Superior Real Estate School Exam| Questions and Answers, 100% Correct| Newly 2024 Superior Real Estate School Exam| Questions and Answers, 100% Correct| Newly 2024 All of the following are physical characteristics of land except: A. Indestructibility B. Uniqueness C. Immobility D. Scarcity D. Scarcity Under the doctrine of specific performance, the party harmed by breach of a real estate contract can ask a judge to force the breaching party to carry out the terms of the contract ra...

Fee Simple Defeasible Estate - correct answerAn estate of inheritance that may be nullified upon the occurrence or non-occurrence of a particular event. Escheat - correct answerThe reversion of property to the state or county, as provided by state law, in cases where a decedent dies intestate and there are no heirs. Freehold Estate - correct answerAn estate in land characterized by an interest in something immobile and of an indefinite duration Common Elements - correct answerAll real p...

NC real estate broker pre-licensing exam Questions and Answers! Syndication - ANSWER Two or more forms joining together as an entity to own real estate Estate in severalty - ANSWER Ownership by one individual Concurrent ownership - ANSWER Two or more persons share ownership with undivided interests Tenancy in common - ANSWER Co-ownership without right of survivorship to other owners Police power - ANSWER The broad right of the government to place reasonable restrictions on the u...