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