MBE Real Property
Terms
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- When some member of the class can call for distribution of her share of the gift, the class:
- closes
- A gift of a fixed amount to each member of a class is not treated as a:
- class gift
- Contingent remainders are those created in __________ persons.
- unborn or unascertained
- Does a judgment lien sever a joint tenancy?
- no
- Is there a right to contribution from co-tenants for the cost of necessary repairs?
- yes
- Are vested remainders subject to conditions precedent?
- no
- Is there a right of contribution from co-tenants for the cost of taxes and mortgages?
- yes
- Who may terminate a periodic tenancy?
- either party
- All reversionary interests are:
- vested
- Severance of a joint tenancy results in a:
- tenancy in common
- Life tenant's failure to preserve the land and structures in a reasonable state of repair is called:
- permissive waste
- Fee simple determinable is always followed by a:
- possibility of reverter
- Does the possibility of reverter automatically transfer title?
- yes
- "To A and his heirs provided that alcohol is not consumed on the premises."
- fee simple subject to condition subsequent
- "To A and his heirs so long as no alcohol is consumed on the premises."
- fee simple determinable
- Is the possibility of reverter transferable inter vivos?
- yes
- When a co-tenant claims the right of exclusive possession, this is called:
- ouster
- Is there a right of co-tenant contribution for the cost of improvements?
- no
- Life tenant's failure to pay interest on the mortgage is called:
- permissive waste
- A _________ is the estate left in a grantor who conveys less than she owns.
- reversion
- A vested remainder subject to condition subsequent is called:
- vested remainder subject to total divestment
- "To A and his heirs upon condition that no alcohol is consumed on the premises."
- fee simple subject to condition subsequent
- A co-tenant out of possession cannot bring a possessory action unless she has been:
- ousted
- "To A and his heirs, but if alcohol is ever consumed on the premises, to B."
- executory interest
- How much notice is required to terminate a year-to-year periodic tenancy?
- six months
- Name the three ways in which a periodic tenancy can be created.
- express agreement, implication, operation of law
- "To A for life, then to B if she reaches the age of 21." If A dies before B reaches 21, B's interest is:
- destroyed
- The unities of a tenancy by the entirety are:
- time, title, interest, possession, marriage
- The possibility of reverter always follows a:
- fee simple determinable
- A ______ continues for successive periods until terminated.
- periodic tenancy
- Does the right of re-entry automatically transfer title?
- no
- "To A for life, then to the children of B." If B is childless at the time, the remainder is:
- contingent
- The right of re-entry always follows a:
- fee simple subject to condition subsequent
- Without express language, a conveyance to two or more persons is presumed to be a:
- tenancy in common
- "To A for life, then to the children of B." B is living and has one child, C. C has:
- vested remainder subject to open
- "To A and his heirs."
- fee simple absolute
- A vested remainder is one created in a __________________ person.
- existing and ascertained
- Is a periodic tenancy automatically renewed?
- no
- "To A for life, then to B and his heirs." B has:
- remainder in fee simple
- A fee simple absolute continues:
- indefinitely
- A co-tenant MUST share the profits from:
- net rents and net profits gained from exploitation
- Life tenant's unnecessary exploitation of natural resources is called:
- voluntary waste
- A conveyance to a husband and wife creates a presumption of a:
- tenancy by the entirety
- A co-tenant who pays more than her fair share of ________ is entitled to contribution from the other co-tenants.
- necessary repairs
- Is the right of re-entry transferable inter vivos?
- no
- "To A and his heirs until alcohol is consumed on the premises."
- fee simple determinable
- The fee simple subject to condition subsequent is always followed by a:
- right of re-entry
- The birth of additional persons who will share in the remainder as a class is called:
- diminution
- A vested remainder is not subject to a:
- condition precedent
- "To A for the life of B."
- life estate pur autre vie
- If the tenant fails to pay rent, the landlord may:
- terminate the lease
- Executory interests _______ the preceding estate.
- cut short
- A __________ vested remainder is one that is not subject to divestment or diminution
- indefeasibly
- The distinguishing feature of a joint tenancy is the:
- right of survivorship
- The unities of a joint tenancy are:
- time, title, interest, possession
- A remainder is a future interest in a third person that become possessory upon the ________ of the preceding estate.
- natural expiration
- "To A and his heirs during the period of time that no alcohol is consumed on the premises."
- fee simple determinable
- A tenancy created for a fixed period of time is called a:
- tenancy for years
- Is the right of re-entry transferable upon death?
- yes
- Life tenant's change that benefits the property economically is called:
- ameliorative waste
- "To A and his heirs while no alcohol is consumed on the premises."
- fee simple determinable
- Does a mortgage sever a joint tenancy?
- no
- "To A and his heirs upon condition that no alcohol is consumed on the premises."
- fee simple subject to condition subsequent
- Life tenant's failure to pay ordinary taxes on the land is called:
- permissive waste
- Is the possibility of reverter transferable upon death?
- yes
- If a fee simple terminates upon the happening of a stated event and then passes to a third part, the third party has:
- an executory interest
- Generally, does a co-tenant need to share profits with the other co-tenants?
- no
- A vested remainder created in a class of persons that is certain to become possessory but is subject to diminution is called:
- vested remainder subject to open
- Any co-tenant has the right to a judicial:
- partition
- "To A for life, then to B and his heirs; but if B dies unmarried, then to C and his heirs." C has:
- executory interest
- "To A and the heirs of her body."
- fee tail
- Contingent remainders are those subject to:
- condition precedent
- A periodic tenancy may only be terminated by ______.
- notice
- "To A for life."
- life estate
- A tenancy for years _________ at its termination date.
- automatically ends
- Are reversionary interests subject to the Rule Against Perpetuities?
- no
- A _________ is a future interest in a third person that becomes possessory on the natural expiration of the preceding estate.
- remainder