Real Estate Property Ownership & Rights 3

Question 1

A quitclaim deed transfers:

Accepted Answer

Whatever interest the grantor has, with no warranties

Answer

A guaranteed clear title

Answer

Title after a court judgment

Answer

Ownership only upon the grantor's death

Question 2

Tenancy in common differs from joint tenancy primarily because:

Accepted Answer

There is no right of survivorship

Answer

Co-owners must hold equal shares

Answer

It requires a special deed

Answer

Only married couples can use it

Question 3

A deed restriction (restrictive covenant) is enforceable by:

Accepted Answer

Neighboring property owners or homeowners associations

Answer

The local government only

Answer

The original grantor exclusively

Answer

State licensing boards

Question 4

Escheat is the government process by which:

Accepted Answer

Abandoned property reverts to the state

Answer

Property is taxed at a higher rate

Answer

A lien is placed on a property

Answer

Property is rezoned

Question 5

A leasehold estate gives the tenant:

Accepted Answer

A temporary right to possess property under a lease

Answer

Ownership of the land forever

Answer

The right to sell the property

Answer

Equity in the property

Question 6

Which government power allows land to be taken for public use such as a highway?

Accepted Answer

Eminent domain

Answer

Escheat

Answer

Taxation

Answer

Police power