Unit 3 Review Exam

A recently married couple each owned a home before getting married. Now the homes are owned as:

• Joint tenants

• Tenants by the entirety

• Life tenants

• Separate property

Which is NOT a form of ownership:

• Tenancy-by-the-entireties

• Tenancy-in-common

• Tenancy-in-severalty

• Tenancy-at-will

The default form of ownership when a married couple purchases Florida real estate is tenancy:

• By the entireties

• In common

• At sufferance

• In severalty

The four conditions required for a joint-tenancy are:

• time, title, tenancy, term

• Time, possession, title, interest

• Term, rate, interest, reversion

• Investment, use, deed, delivery

In selecting the form of ownership , two people would NOT consider:

• Their marital status

• The right of survivorship

• The amount of land they are purchasing

• The existence of a will

Which of the following is NOT an ownership characteristic of real estate?

• Performance

• Use

• Disposition

• Exclusion

Buyer purchased the back 40 acres from Seller. Shortly after purchasing, Buyer discovered that there was no public access to her property. Buyer's right to cross Seller's property is an easement:

• By prescription

• In gross

• Appurtenant

• By necessity

Which type of tenancy has a specific ending date?

• For years

• At will

• At sufferance

• Life

Bob conveys to Bill "for the life of Jill." What kind of estate does Bill hold?

• Estate for years

• Reversionary estate

• Life estate

• Remainder estate

At the expiration of the lease period and before renegotiation of the lease, a tenant continued to occupy the apartment. The tenant's position is called:

• A tenancy-at-sufferance

• A tenancy-at-will

• A freehold estate

• A remainder estate