OWNERSHIP/TITLE

Where in the deed would the term "to have and to hold" appear?

• Safety clause

• Habendum clause

• Execution clause

• Description clause

The person to whom a life estate goes upon the death of the life tenant

No heirs; therefore, the government becomes owner of the real property

New contractual substitution of obligation from one party to another is

You purchased the right to live in an apartment in a resort for the 32nd complete week of each calendar year for the next 30 years. The type of interest you have is called a(n)

• Joint tenancy

• Time-share estate

• Tenancy in common

• Estate for years

The county zoo holds title to its land with the condition that if it charges admission fees, the title will revert to the original grantor of the estate. This is an example of a

• Fee-simple estate

• Defeasible estate

• Legal life estate

• Convention life estate

Charles hold a life estate in a house measured against his life. Charles' life estate is

• An estate of inheritance

• An example of a future interest

• Limited in duration to the life estate owner's life

• Non-freehold estate

Which of the following forms of ownership may only be held by a wife and husband?

• Tenancy in Common

• Tenancy by the entirety

• Tenancy at will

• Joint Tenancy

Two brothers may take title to income property in unequal shares under which of the following?

• Severalty

• Tenants by the entirety

• Joint tenants

• Tenants in common

A husband and wife own property as tenants by entireties. The husband dies and his will names their son as inheritor of the property. Which of the following statements is CORRECT?

• The son an his mother own the property as tenants in common

• The son owns the property in severalty

• The son and his mother own the property as joint tenants

• The son has no interest in the property