Question 1

The advantage of a trust over a will is that a trust

Accepted Answer

A)  can provide greater flexibility over the distribution of property. 
B)  is not liable for taxes. 
C)  is administered by the court. 
D)  is not revocable.

Question 2

Tenancy by the entireties

Accepted Answer

A)  allows a husband to avoid a wife's claim to dower. 
B)  is the only form of co-ownership of real property that does not include a right of survivorship. 
C)  is the feature of joint tenancy that allows each tenant to own the property jointly and severally. 
D)  is a form of ownership only enjoyed by married couples.

Question 3

Which of the following is a future interest?

Accepted Answer

A)  Fee simple absolute 
B)  Life estate 
C)  Remainder 
D)  Community property

Question 4

Fee simple estates

Accepted Answer

A)  can never be alienated. 
B)  cannot be inherited. 
C)  can be sold or given away. 
D)  must be devised by will.

Question 5

A conveys Blackacre to B for as long as B shall live. B conveys his interest to C. C's interest can be termed a life estate

Accepted Answer

A)  until either A or C dies. 
B)  for as long as A lives. 
C)  for as long as B lives. 
D)  for as long as C lives.

Exam 12: The Law of Property

The advantage of a trust over a will is that a trust

Tenancy by the entireties

Which of the following is a future interest?

Fee simple estates

A conveys Blackacre to B for as long as B shall live. B conveys his interest to C. C's interest can be termed a life estate