Real Estate 1 Property Ownership 3 Flashcards

Study and Learn Real Estate 1 Property Ownership 3, and much more with the given flashcards. Attempt these simple quizzes to Real Estate 1 Property Ownership 3 with ease and grow. This flashcard is simple and easy to use and is more fun-oriented. ​

28 cards   |   Total Attempts: 183
  

Cards In This Set

Front Back
A freehold estate which is inheritable is a ___ estate -fee -real -life -less than freehold
Fee
The most important distinguishing feature of a fee estate is that it is _______ -transferrable -simple -not inheritable -inheritable
Inheritable
A fee estate is one type of _____ estate -leasehold -less than freehold -personal -freehold
Freehold
An estate which is only limited by the governments rights is called a _________ estate. -fee -defeasible -freehold -fee simple
Fee simple
An indefeasible fee estate is known as a _____ estate. -less than feehold -life -freehold -fee simple
Fee simple
The least restricted form of ownership is a ____ estate. -fee -freehold -life -fee simple
Fee simple
A fee estate which is subject to limitations other than the governments rights is called a _______ estate. -fee simple -less than freehold -qualified fee -qualified life
Qualified fee
Another name for a qualified fee is a _____ estate -less than freehold -defeasible fee -life -indefeasible fee
Defeasible fee
The main type of qualified fee estate is called a _______ estate. -fee simple determinable -life -less than feehold -defeasible
Fee simple determinable
A fee estate which will terminate if a condition stated in the deed comes into being or is terminated is called a ________ estate. -determinable life -fee simple -life -fee simple determinable
Fee simple determinable
Carol conveyed her property to Mary for so long as it was used only as a single family residence. This is an example of a _____ estate. -indefeasible fee -fee simple determinable -determinable life -life
Fee simple determinable
A freehold estate which is not normally inheritable is called a ______ estate. -fee -life -fee simple -qualified fee
Life
A life estate is one type of ______ estate. -fee -personal -freehold -less than freehold
Freehold
An estate held for a duration of someone's life is called a _________ estate -fee -less than freehold -life -qualified fee
Life
Jack grants an estate in land to Martha with the stipulation that ownership reverts to him on Marthas death. Martha owns ________ -an estate less than freehold -no interest in the property -a qualified fee estate -a life estate
A life estate