Real Estate Property Ownership & Rights 1

Question 1

Which form of ownership gives the owner the greatest bundle of rights with no time limit?

Accepted Answer

Fee simple absolute

Answer

Life estate

Answer

Leasehold estate

Answer

Fee simple defeasible

Question 2

A life estate grants ownership rights for how long?

Accepted Answer

The measuring life of a designated person

Answer

99 years

Answer

25 years

Answer

Until the mortgage is paid

Question 3

Which form of co-ownership includes the right of survivorship and is recognized by all US states?

Accepted Answer

Joint tenancy

Answer

Tenancy in common

Answer

Tenancy by the entirety

Answer

Community property

Question 4

An easement appurtenant benefits which party?

Accepted Answer

The adjoining dominant estate

Answer

The grantor only

Answer

The servient estate

Answer

The local municipality

Question 5

A lien is best described as a:

Accepted Answer

Financial claim against a property

Answer

Transfer of ownership

Answer

Voluntary gift of property

Answer

Type of deed

Question 6

The 'bundle of rights' in real estate includes all of the following EXCEPT:

Accepted Answer

Right to eminent domain

Answer

Right to use

Answer

Right to exclude others

Answer

Right to destroy