Unit 8 Quiz Attempt #3

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

What term describes real or personal property acquired by either spouse during marriage

Which are types of property ownership

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

Rachel and Zoey receive a single deed from a seller at closing conveying the property by name to each of the two friends, with equal shares and interest. If either Rachel or Zoey die, the interest and shares will automatically become those of the other co-owner.This is an example of:

If you are a joint tenant with no children, and your sister (the other joint tenant) dies first but she has three children, what happens to the property?

Which is not considered a common element in a condominium?

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

Is there a difference between a PUD and a condominium?

Common areas do not include _____

what type of occupancy is not involved in a condominium hotel

Whose the owner of a community property?