Unit 8 Quiz Attempt #2

Define severalty ownership

Which of the following does not qualify as concurrent ownership?

Define a partition

Define purchaser of stock

Define separate property

A syndicate is

Ownership of benefits within a trust us received by

Erica and Jasmine’s parents pass away leaving them with the family home. Each holds an undivided interest in the entire property and there’s no right of survivorship. If one of them dies, that sister’s share will go to whoever she’s stipulated in her will. What type of ownership does this situation describe?

Who will receive the property if the owner passes away without heirs and a will

In a situation where legal title to a property is held and is entrusted, carrying out the trustor’s instructions regarding the purpose of the trust, what is the term/ title of this position?

Which are types of property ownership

The “bundle of rights” refers to a set of rights

You are joint tenants with your two siblings. What happens to the property when one of your siblings die?

Tenants in common is best described as:

Which of the following about condominiums is not true?

In the context of real estate, what is a cooperative?

What is the difference between a PUD and a condominium?

What type of occupancy is involved in a condominium hotel

Community property is defined as ______.

A trustee is someone who