#1
Which of the following is a type of property ownership that grants the owner the right to use the property for a specified period?
Leasehold
ExplanationOwnership with temporary rights.
#2
In property law, what does 'title' refer to?
The legal right of ownership
ExplanationLegal ownership.
#3
What is the primary purpose of a property deed?
To transfer ownership of real property
ExplanationOwnership transfer document.
#4
What is the primary purpose of a property survey?
To establish property boundaries and dimensions
ExplanationBoundary and size determination.
#5
What is the primary purpose of a property appraisal?
To determine the market value of a property
ExplanationProperty valuation assessment.
#6
What is the primary purpose of a 'title search'?
To verify the seller's legal right to transfer ownership
ExplanationSeller's ownership verification.
#7
Which type of property ownership involves two or more individuals holding undivided shares with no right of survivorship?
Tenancy in common
ExplanationMultiple owners with no survivorship rights.
#8
What is a 'cloud on title'?
A legal claim or encumbrance that affects the title to real property
ExplanationLegal issue affecting property ownership.
#9
What does 'fee simple absolute' refer to in property law?
An ownership interest with the greatest bundle of rights
ExplanationMaximum property ownership rights.
#10
What is an 'easement' in relation to property ownership?
A right to pass over someone else's land
ExplanationPermission for land use.
#11
Which type of property ownership involves spouses jointly owning property acquired during marriage?
Community property
ExplanationSpousal joint ownership.
#12
What does 'title insurance' protect against in real estate transactions?
Title defects and disputes
ExplanationProtection against ownership issues.
#13
In the context of property law, what is meant by 'encumbrance'?
A legal claim or liability against a property
ExplanationProperty ownership burden.
#14
What is the difference between 'joint tenancy' and 'tenancy in common'?
Joint tenancy involves equal ownership shares; tenancy in common does not.
ExplanationOwnership share distinction.
#15
What is 'adverse possession'?
A method of acquiring property by openly occupying and using it for a certain period
ExplanationProperty acquisition through use.
#16
What is 'eminent domain'?
The right of the government to take private property for public use with compensation
ExplanationGovernment's property acquisition right.
#17
What does 'chain of title' refer to in property law?
A record of all past owners of a property
ExplanationOwnership history documentation.
#18
What is 'vesting' in property ownership?
The legal right of ownership
ExplanationLegal ownership claim.