PROPERTY LAW COMPREHENSIVE EXAM 2026
QUESTIONS AND SOLUTIONS RATED A+
✔✔Tenancy in Common (TIC) - ✔✔Each tenant holds an undivided fractional interest
and co-owners have unity of possession.
✔✔Joint Tenancy - ✔✔Involves four unities (PITT): unity of possession, unity of interest,
unity of time, and unity of title.
✔✔Right of Survivorship - ✔✔Enjoyed by joint tenants, allowing the remaining tenant to
inherit the property upon the death of another tenant.
✔✔Tenancy by the Entirety - ✔✔Available only to spouses and carries a right of
survivorship.
✔✔Community Property - ✔✔Property acquired during marriage that is not separate
property and requires agreement of both spouses to be conveyed.
✔✔Separate Property - ✔✔Property owned by one spouse before marriage, or acquired
by one spouse during marriage by gift, inheritance, or with the proceeds of separate
property.
✔✔Trust - ✔✔A legal arrangement in which property is transferred by the trustor to a
trustee, to be held for the identified beneficiary.
✔✔Partnership - ✔✔An association of two or more persons who carry on a business for
profit as co-owners.
✔✔General Partnership - ✔✔All partners participate in operation and share full liability
for business losses and obligations.
✔✔Limited Partnership - ✔✔Has both general partners who run the business and
limited partners who do not participate in running the business.
✔✔Limited Liability Company (LLC) - ✔✔Offers its members the benefits of limited
liability of a corporation, tax advantages of a partnership, and a flexible management
structure.
✔✔Condominium Ownership - ✔✔Owner holds fee simple title to the airspace of a unit,
as well as an undivided share in the common elements.
✔✔Fixture - ✔✔Personal property that has been affixed to the land or to a building so
that by law it becomes part of the real property.
QUESTIONS AND SOLUTIONS RATED A+
✔✔Tenancy in Common (TIC) - ✔✔Each tenant holds an undivided fractional interest
and co-owners have unity of possession.
✔✔Joint Tenancy - ✔✔Involves four unities (PITT): unity of possession, unity of interest,
unity of time, and unity of title.
✔✔Right of Survivorship - ✔✔Enjoyed by joint tenants, allowing the remaining tenant to
inherit the property upon the death of another tenant.
✔✔Tenancy by the Entirety - ✔✔Available only to spouses and carries a right of
survivorship.
✔✔Community Property - ✔✔Property acquired during marriage that is not separate
property and requires agreement of both spouses to be conveyed.
✔✔Separate Property - ✔✔Property owned by one spouse before marriage, or acquired
by one spouse during marriage by gift, inheritance, or with the proceeds of separate
property.
✔✔Trust - ✔✔A legal arrangement in which property is transferred by the trustor to a
trustee, to be held for the identified beneficiary.
✔✔Partnership - ✔✔An association of two or more persons who carry on a business for
profit as co-owners.
✔✔General Partnership - ✔✔All partners participate in operation and share full liability
for business losses and obligations.
✔✔Limited Partnership - ✔✔Has both general partners who run the business and
limited partners who do not participate in running the business.
✔✔Limited Liability Company (LLC) - ✔✔Offers its members the benefits of limited
liability of a corporation, tax advantages of a partnership, and a flexible management
structure.
✔✔Condominium Ownership - ✔✔Owner holds fee simple title to the airspace of a unit,
as well as an undivided share in the common elements.
✔✔Fixture - ✔✔Personal property that has been affixed to the land or to a building so
that by law it becomes part of the real property.
