Học Thi Real Estate License ở California: Legal Descriptions, Methods of Acquiring Title, Deeds, Estates, and Methods of Holding Title (Part 3) 1. A deed in California is made out to a husband and wife but does not specify how title is to be take. Title would be: as community property as tenants in common in severalty in joint tenancy None 2. Partition action refers to: a subdivision none of these a construction project a court proceeding to break up a joint tenancy None Hint 3. A property was sold by an executor but no other bids were allowed. The reason for not allowing open bidding in court was: the purchaser was one of the heirs the property was valued at less than $10,000 the executor certified the price was reasonable the Independent Administration of Estates Act None Hint 4. Which of the following groupings gives the greatest and most complete interest in real estate? freehold, fee simple, life estate estate at will, estate on condition subsequent estate for years, defeasible estate estate for years, nonfreehold estate None Hint 5. A married man owns a lot by himself as his separate property. He most likely owns the lot: in severalty as a joint tenant as community property as a tenant in common None 6. An elderly husband and wife (no children) with total savings of $25,000 are buying a $150,000 home through a real estate office. They ask the broker how they should take title. The broker should tell them. to see an attorney as community property as joint tenants as tenants in common None Hint 7. Normally in California, a buyer wants a(n): warranty deed quitclaim deed grant deed coupled with title insurance abstract deed None 8. Property is held by X and Y as domestic partners. X dies without a will. Who gets X's property interest? 1/2 to heirs, 1/2 to Y X's heirs Y The state by escheat None Hint 9. The term "inchoate interest" could refer to: unperfected interests a wild deed invalid claims minors None Hint 10. Being subject to double taxation describes a(n): partnership LLC corporation joint venture None 11. The owner of a paramount legal title alienated property but retained a future right based on an contingency. What did she vonvey? a nonfreehold interest fee simple defeasible estate for years fee simple absolute None Hint 12. An S corporation differs from other corporations in that: the death of a principal does not dissolve the corporation there is a limit as to number of investors stockholders have no personal liability both the stockholders and the corporation pay taxes on the income None 13. 320 rods equal one: chain township section mile None 14. Most urban property would have what type of legal description? government survey tax assessor's number metes and bounds recorded lot, block, and tract None 15. A purchased property from B. He did not get title since B had previously sold the property to C who had recorded the deed. The effect of the prior recording was: to establish homestead rights to prevent later fraud to insure C's title is free of encumbrances constructive notice None 16. S corporations differ from other corporations as to: personal liability of investor transferability of interests all of the above taxation on corporate earnings None Hint 17. An undivided interest without the right of survivorship constitutes: tenancy in severalty joint tenancy none of these tenancy in common None 18. Three buyers take title to a property as joint tenants. There would be: three deeds no right of survivorship only one deed separate one-third ownerships None 19. A husband cannot legally object if his wife does which of the following without his consent? sells community property leases community property for more than one year buys an apartment building using community property funds none of these None Hint 20. A deed used the word "sans," which means: the grantor could not sign their names there was more than one grantee the deed was recorded the deed had an exclusion None Hint 21. Every investor in a business is able to escape personal liability. What form is the business? general partnership LLC joint venture limited partnership None Hint 22. Which of the following cannot be owned in fee simple? none of these a house owned in severalty a house owned in joint tenancy a house owned as community property None Hint 23. A corporation buys property and takes title in the corporate name. They would hold title: in tenancy in common in joint tenancy as limited partners in severalty None Hint 24. A joint tenancy: applies only to residential property is a single estate is an inheritable interest is a divided interest None Hint 25. Pur autre vie refers to: an estate of inheritance personal property the life of another person water quality None Hint 26. A user with only three years adverse use was able to obtain title by adverse possession because: of possession he was a minor of tacking on of the 4 unities None Hint 27. A husband and wife owned property together that could not be transferred by will. They owned the property: as tenants in common as community property as community property with right of survivorship without the right of possession None 28. The four unities of joint tenancy are: title, interest, possession, and liability time, interest, possession, and liability time, title, interest, and possession title, time, ownership, and liability None 29. As to a fee estate, which of the following is false? it is of definite duration it can be inherited none of these it can be freely transferred None Hint 30. A deed that would convey after-acquired property would be a: bargain-and-sale deed tax deed quitclaim deed grant deed None 31. A limited partner may: request an accounting from the partnership serve as an advisor make management decisions use his or her name in the partnership None Hint 32. Creditors can access your personal assets for the debts of: a general partnership all of these a limited partnership a corporation None Hint 33. Some maps show topographical lines. These lines show: rivers soil conditions boundaries contours None Hint 34. A limited partner is: limited as to the hours he or she can work limited as to liability for debts treated the same as an active partner liable without limits None Hint 35. All the stock of the XYZ corporation was owned by 14 family members who together ran the Corporation. XYZ would be regarded as a: joint venture close corporation trust LLC None Hint 36. If one joint tenant borrowed on her interest: the tenancy is now a tenancy in common the loan terminated the joint tenancy both a and b are true neither a nor b is true None Hint 37. Alienation refers to: angering another giving possession but keeping title transfer of an estate using a property as security for a loan None 38. A grant deed that contains no limitations would grant: possessory interest only a nonfreehold estate a license a fee simple None 39. In California, life estates are not created by: action of law will grant gift None Hint 40. Jones has a life estate in a farm, and Smith desires an easement over a private road crossing the farm. As to the easement: an easement may only be granted by Jones giving Smith a quitclaim deed since no one has a fee simple interest, an easement cannot be given Jones can grant it only the owner of the reversionary interest can grant it. None Hint 41. A grantor conveys less than her fee estate. The interest she retains would be a(n): remainder interest leasehold reversionary interest easement None Hint 42. Which of the following would be constructive notice of an interest in a property? both a and b knowing there is an unrecorded deed to another recording a deed to a party occupancy by a party None 43. Which of the following is an estate of inheritance? fee simple life estate joint tenancy all of the above None Hint 44. The holder of a life estate cannot: will it lease it borrow against it sell it None Hint 45. John gives property to Paul for the life of Albert. Paul dies. What happens? none of these is true the property goes to John the property goes to Paul's heirs the property goes to Albert None Hint 46. Which of the following does not describe a fee simple interest? free of encumbrances transferable without time limit inheritance None Hint 47. An S corporation: is taxed as a partnership passes tax liability to shareholders all of these is limited as to shareholders None 48. A proper legal description is least likely to be obtained from a: deed preliminary title report property tax bill policy of title insurance None Hint 49. A recorded deed was not acknowledged. The deed: is void none of the above would only provide constructive notice after one year is treated in the same manner as an alteration None 50. A life estate: can be leased by a life tenant beyond his or her life is illegal in California because of the rule against perpetuities cannot exceed 99 years can exist with another estate None Hint
