OHIO REAL ESTATE 2026 TEST BANK TESTED QUESTIONS CORRECT ANSWERS

OHIO REAL ESTATE 2026 TEST
BANK TESTED QUESTIONS
CORRECT ANSWERS
◉ Co-Ownership. Answer: When 2 or more people own the same real
estate.


◉ Tenancy in Common. Answer: A type of Co-Ownership where 2 or
more persons take title. Tenants have unity of possession...cannot be
excluded by other tenants. Tenants can transfer their interest by gift,
sale, or by will at death.


◉ Joint Tenancy. Answer: A form of Co-Ownership...4 unities are
needed to create this type of tenancy -- unity of title, time, interest, and
possession. Title must be taken by all tenants at the same time, with each
receiving an equal interest (no unequal shares). Important feature --
survivorship is the key benefit.


◉ Marital Property. Answer: Community property and Tenancy by the
Entirety are both forms of what?


◉ Tenancy in Partnership. Answer: 2 or more persons who carry on a
business for profit as partners may own property for partnership
purposes. A "joint venture" is a type of this partnership.


◉ Community property. Answer: All property acquired by either spouse
during marriage...with 3 exceptions.