You can expect to see eight questions on the end-of-course exam and eight questions on the state exam from this chapter.
After successfully completing this unit, you will be able to
|estate for years||real estate|
|exempt property||real property|
|fee simple estate||remainderman|
|fixture||right of survivorship|
|freehold estate||separate property|
|homestead||tenancy at sufferance|
|joint tenancy||tenancy at will|
|land||tenancy by entireties|
|leasehold estate||tenancy in common|
In this unit, you’ll learn about the three components of real property. You’ll also see how courts determine if an item is real or personal property, an important distinction when property is sold. The unit will discuss the ways people can take ownership of property, and the important differences in the way the property is divided when one of the owners dies. The last part of the unit helps you to understand ownership of condominiums, cooperatives, and time-share properties.