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Question 1
A life estate is considered a greater interest in land than a term of years because...
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Incorrect!
Correct
Incorrect!
Correct
Incorrect!
Correct D is the only correct statement. A term of years can last any number of years, so it can last longer than a life estate. Both interest holders have a duty to avoid waste on the property. C is wrong because, unless a person can live forever, a life estate must end.
Incorrect! D is the only correct statement. A term of years can last any number of years, so it can last longer than a life estate. Both interest holders have a duty to avoid waste on the property. C is wrong because, unless a person can live forever, a life estate must end.
Question 2
A term of years must last at least...
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Incorrect!
Correct
Incorrect!
Correct
Incorrect!
Correct A term of years occurs as long as the estate is for a set period of time. There is no minimum or maximum length that is necessary to qualify for a term of years. Therefore D is the correct answer.
Incorrect! A term of years occurs as long as the estate is for a set period of time. There is no minimum or maximum length that is necessary to qualify for a term of years. Therefore D is the correct answer.
Question 3
Roper has an apartment building. Jack has a month-to-month tenancy that expires on the first of each month. On September 15, Jack invites Janet, Roper's sworn enemy, to live in the apartment. Roper wants to evict Jack as quickly as possible. Assuming he gives notice right away, when is the earliest Roper can evict Jack?
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Incorrect!
Correct
Incorrect!
Correct
Incorrect!
Correct A periodic tenancy can only be terminated upon notice of at least one full period and can only be terminated at the end of a period. In this case, since the periods end on the first of each month, the tenancy can only be terminated on the first of a month. Since the notice must last at least a full period, October 1 is too early. Thus, Nov. 1 is the earliest the tenancy can be terminated and D is the correct answer.
Incorrect! A periodic tenancy can only be terminated upon notice of at least one full period and can only be terminated at the end of a period. In this case, since the periods end on the first of each month, the tenancy can only be terminated on the first of a month. Since the notice must last at least a full period, October 1 is too early. Thus, Nov. 1 is the earliest the tenancy can be terminated and D is the correct answer.
Question 4
Roper has an apartment building. Jack has a periodic tenancy, but the periods are not set. Jack pays rent of $20,000 on January 1 of every year. On March 15, 2003, Jack invites Janet, Roper's sworn enemy, to live in the apartment. Roper wants to evict Jack as quickly as possible. Assuming he gives notice right away, when is the earliest Roper can evict Jack?
Correct
Incorrect!
Correct
Incorrect!
Correct If no period is specifically identified at the outset of the tenancy, then the period of the tenancy will be presumed to be the same as the scheduled rent payment intervals. Therefore, this tenancy will be a year to year tenancy. Although the notice requirement is usually a full period plus until the end of the period, for a year to year periodic tenancy, 6 months notice is sufficient. Therefore C is the correct answer.
Incorrect! If no period is specifically identified at the outset of the tenancy, then the period of the tenancy will be presumed to be the same as the scheduled rent payment intervals. Therefore, this tenancy will be a year to year tenancy. Although the notice requirement is usually a full period plus until the end of the period, for a year to year periodic tenancy, 6 months notice is sufficient. Therefore C is the correct answer.
Correct
Incorrect!
Question 5
Roper has an apartment building. Jack has a 5 year "term of years" in one of the apartments. At the end of that term, Jack continues to live in the apartment and Roper tells him "Okay, you can stay here under the same rent and conditions as before your term of years expired." What interest does Jack have in the apartment?
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Incorrect!
Correct If a term of years expires and the landlord agrees to hold over the tenant, the new tenancy will be an implied periodic tenancy. The periods will be the same as the scheduled rent payments. Although the length of the periods is not clear from the question, it is clear that there will be an implied periodic tenancy of some sort between Jack and Roper. Therefore B is the correct answer.
Incorrect! If a term of years expires and the landlord agrees to hold over the tenant, the new tenancy will be an implied periodic tenancy. The periods will be the same as the scheduled rent payments. Although the length of the periods is not clear from the question, it is clear that there will be an implied periodic tenancy of some sort between Jack and Roper. Therefore B is the correct answer.