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Chapter 6 Quiz

2019.03.04 08:59 Views : 441

1 of 10 - HEH, Inc. owns a large parcel of land which will be used for commercial development. Upon the sale of the property to HEH, Inc., the grantor in a written agreement established the lake may never be touched and the property may only be used for commercial purposes. Which type of private deed restriction is in place for HEH, Inc.'s property?
 
Affirmative
 
Covenant
Public
Building
You answered incorrectly
A restriction is a use encumbrance that is usually placed by the grantor of the deed and which binds the new owner and all future owners. This type of deed restriction is a restrictive covenant which limits the use of the property.
2 of 10 - Ted and Jack are selling their home to Duncan and Gary. Upon the title search, the title company discovers Ted and Jack's home is free of any liens or problems and can be easily sold. Ted and Jack's property holds which type of title?
Certificate of Title
Abstract
 
Marketable Title
Chain of Title
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3 of 10 - Penelope is interested in buying a 150-year-old historical home in San Francisco. If Penelope decides to purchase the home, it must be on the condition the original architectural features are never removed from the home. Additionally, if Penelope buys the home and then sells it at some point, the same condition must be in the sales contract, and so on. What type of freehold estate is this historic home?
 
Fee Simple Defeasible
Estate in Reversion
Fee Simple Absolute
Curtesy Estate
You answered correctly
4 of 10 - Christine and Scott have been married for fifteen years. They have three children, a home, and a vacation home. The couple purchased their home together after their marriage, but Scott owned the vacation property prior to the union. Christine and Scott are now getting divorced. Christine wants half of their residence and half of the ownership of the vacation property. At times they have rented the vacation home and the proceeds have gone to their joint bank account. Does Christine have any legal right to the ownership of the vacation home?
Yes, due to the commingling of the funds gained from rental proceeds, Christine will be allowed shared ownership of the vacation property.
Yes, although Scott came to the marriage with the vacation property, all property owned by each partner in a marriage is thus shared by the spouse.
 
No, Scott came to the marriage with the vacation property, therefore it may remain a separate property. However, due to the commingling of the rental proceeds from the property in the joint account, she does have a right to half the proceeds.
 
Both A and B
You answered incorrectly
In California, community property is all property acquired by a husband and wife during their marriage. Property that either spouse brought to the marriage as acquired before the marriage is separate property. If funds acquired from a separate property are commingled with the community property, then the funds become community property and must be shared.
5 of 10 - Which of the following is not considered one of the six distinct forms of ownership in California?
Tenancy in Common
Severalty
Joint Tenancy
 
Voluntary Tenancy
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6 of 10 - Suzette is leasing a condo from the Garcias. She has been renting the condo for over three years. She renews the lease each year and, because of her loyalty and exemplarily rental history, the Garcia's allow her to make any décor changes she wishes. Which of the following statements is true about the relationship between the Garcias and Suzette?
The Garcias own the condo in leasehold but rent it to Suzette in freehold.
The Garcias have entered into a Pur Autre Vie lease relationship with Suzette.
 
The Garcias own the condo in freehold but rent it to Suzette in leasehold.
The Garcias and Suzette have a tenants in common relationship.
You answered correctly
7 of 10 - The Moltasanto family has owned a vineyard in Sonoma for over one hundred years. They have owned all rights to the property since the first day of ownership. The property is always inherited by the oldest child after the death of the previous owner. Which type of estate is the Moltasanto family vineyard?
Fee Simple Defeasible
 
Fee Simple Absolute
Estate in Reversion
A Leasehold Estate
You answered correctly
8 of 10 - TBH, Inc. owns land for development adjacent to their corporate headquarters. TBH, Inc. is the sole owner of the property. The land will be developed as a shopping and restaurant area. Which form of ownership does this property fall under?
 
Severalty
Unity of Possession
Joint Tenancy
All of the above
You answered correctly
9 of 10 - All property in the United States falls under which system of land ownership?
Feudal System
 
Allodial System
Freehold System
Dower System
You answered correctly
10 of 10 - Patrice and Michael are in the process of refinancing their townhouse. The mortgage company calls and gives the couple the news they have a lien on their home for non-payment of the previous year's property taxes. What type of lien is on their property? What do they need to do to remedy their situation?
 
Patrice and Michael have an involuntary lien placed on their home for delinquent property taxes. The couple needs to pay the taxes, any interest and/or late fees, and have the lien removed.
Patrice and Michael have a voluntary lien placed on their home for delinquent property taxes. The couple must pay the back taxes to have the lien removed
Patrice and Michael have an equitable lien placed on their home for delinquent property taxes. The couple must pay the back taxes to have the lien removed.
Patrice and Michael have a judgment lien placed on their home for delinquent property taxes. The couple must pay the back taxes and petition the court to have the lien removed.
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No. Subject Date Views
Notice 부동산 용어사전 2019.04.15 2372
Notice 부동산 용어 (A to Z) 2019.03.03 1601
111 TEST 18 2019.03.23 630
110 Chapter 18 Conclusion 2019.03.23 209
109 TEST 17 2019.03.23 257
108 Hudson Yards file 2019.03.16 106
107 TEST 17 2019.03.10 237
106 Chapter 17 Conclusion 2019.03.10 146
105 TEST 16 2019.03.10 175
104 TEST 15 2019.03.07 130
103 Chapter 15 Conclusion 2019.03.07 448
102 TEST 14 2019.03.07 116
101 Chapter 14 Conclusion 2019.03.07 131
100 TEST 13 2019.03.07 165
99 Chapter 13 Conclusion 2019.03.07 108
98 TEST 12 2019.03.06 353
97 TEST 11 2019.03.06 159
96 CHAPTER 11 2019.03.06 135
95 TEST 10 2019.03.05 235
94 Chapter 10 2019.03.05 252
93 SUMMARY 9 2019.03.05 78
92 TEST 9 2019.03.05 184
91 Chapter 8 Quiz 2019.03.04 144
90 Chapter 8 Conclusion 2019.03.04 272
89 DEED 2019.03.04 94
88 warranty deed 여섯 가지의 covenant 2019.03.04 96
87 Chapter 7 (TEST) 2019.03.04 153
» Chapter 6 Quiz 2019.03.04 441
85 TEST 5 - Correction 2019.03.02 258
84 Chapter 5 Conclusion 2019.03.02 103
83 Condominium Ownership and Time Shares 2019.03.02 96
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