Multiple Choice Questions for Chapter 7

Chapter 7

Multiple Choice Questions:

Which of the following categorize leasehold estates?

a) Tenancy for a stated period

b) Tenancy from period to period

c) Tenancy at will

d ) all of the above

A person or organization with a remainder interest is called what?

a) remainderman

b) life tenant

c) REIT

d) none of the above

The ownership rights associated with the area underneath the earth´s surface is called what?

a) Surface rights

b) Air rights

c) Subsurface rights

d) Property rights

True/False Questions:

Encumbrance is a general term for a restriction on the fee simple estate interest.

- True

- False

All property that is real property is called personal property.

- True

- False

Dying without a valid will is called a testate.

- True

- False

Someone, usually a spouse or family member, with a claim on a deceased person´s property is called an heir.

- True

- False

Alienable is the right to transfer property rights while the owner is alive.

- True

- False

Answers:

d) a) c)

True, False, False, True, True