Monday, April 1, 2013

Chapter 7 Questions By Arianna Sandoval

1.       Which is not a common form of co-ownership?
a.       Right of Survivorship
b.      Joint Tenancy
c.       Tenancy by Entirety
d.      Tenancy in Common
2.       Ownership in SEVERALTY refers to several people or entities owning real estate. T/F
3.       The order that determines the likelihood that any particular lien holder will be paid back given that the property is liquidated is the following
a.       Mortgage, Mechanics, Tax
b.      Tax, Mortgage, Mechanics
c.       Mechanics, Tax, Mortgage
d.      Mortgage, Tax, Mechanics
4.       Encroachments often lead to Adverse Possession. T/F
5.       When the lease term has expired and the lessee remains in the property without paying rent this is referred to as
a.       Tenancy at will
b.      Encumbrance
c.       Leased fee estate
d.      Tenancy at Sufferance
6.       The Government has police power, eminent domain, Taxation and Escheats. T/F
7.       Positive externalities include exemplary schools, and new roads. T/F
8.       The terms Real estate and Real Property can be used interchangeably. T/F
1.       A
2.       False
3.       B
4.       True
5.       D
6.       True
7.       True
8.       False

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