Page |1
TENNESSEE NATIONAL PORTION REAL
ESTATE EXAM 2025 WITH 100% VERIFIED
QUESTIONS AND EXPERT SOLUTIONS|
GUARANTEED VALUE AND SUCCESS.
1. Joint tenancy is - correct answer - a form of concurrent ownership of
property that is available to two or more people, whether married or
unmarried.
2. Property owned by a married person can belong to - correct answer -
the spouses together or be the separate property of one spouse.
3. An ownership interest that is based on annual occupancy intervals is a -
correct answer - time share.
4. Depending on the type of trust and its purpose, the trustor, trustee, and
beneficiary can all be either - correct answer - people or legal entities.
5. A deed conveying land on a one-third and two-thirds share basis
establishes a - correct answer - tenancy in common
, Page |2
6. An advantage of cooperative ownership of a dwelling is that - correct
answer - there are income tax advantages.
7. The term severalty comes from the fact that - correct answer - a sole
owner is severed or cut off from other owners.
8. Which of the following is NOT a form of co-ownership? - correct answer
- Ownership in severalty
9. If a shareholder in a cooperative defaults in maintenance payments, -
correct answer - the burden of the default falls on the remaining
shareholders.
10. Once a property is established as a condominium, each unit becomes
a separate parcel of real estate that is owned in fee simple and may be
held by - correct answer - one or more persons in any type of ownership
or tenancy recognized by state law.
11. Three people are joint tenants with rights of survivorship in a tract of
land. One owner conveys his interest to a friend. Which statement is
TRUE? - correct answer - The other two owners remain joint tenants.
, Page |3
12. The forms of property ownership are controlled by - correct answer -
the state
13. An ownership interest that can be an estate interest or a right of use
is a - correct answer - time share.
14. A corporation is - correct answer - a legal entity that can buy and sell
real estate as set out in its charter.
15. Ownership in severalty is - correct answer - property owned by one
individual or corporation.
16. A house is owned by three joint tenants, and one of the owners, as
permitted by state law, sells that interest to a new owner. The result is a
- correct answer - tenancy in common between the new owner and the
remaining joint tenants
17. The owner of a condominium unit learns that a neighbor has failed to
pay real estate taxes. If this neighbor does not pay the taxes, - correct
answer - a lien can be filed against the neighbor's unit and percentage
of the common elements.
, Page |4
18. Real properties owned by public entities, such as cities, counties,
states, and public agencies are generally - correct answer - owned in
severalty
19. The partition of property that is owned concurrently can be
accomplished by - correct answer - court action
20. A fee simple estate may be held - correct answer - in three basic
ways
21. Eight heirs are now the owners of a farm as tenants in common. This
means that use of the property can be determined by agreement of -
correct answer - all the owners.
22. When parties own property as tenants in common, each owner -
correct answer - has equal rights of possession with the other owners.
23. A person who owns one unit in a multiunit structure together with a
specified undivided interest in the common elements owns a - correct
answer - condominium
TENNESSEE NATIONAL PORTION REAL
ESTATE EXAM 2025 WITH 100% VERIFIED
QUESTIONS AND EXPERT SOLUTIONS|
GUARANTEED VALUE AND SUCCESS.
1. Joint tenancy is - correct answer - a form of concurrent ownership of
property that is available to two or more people, whether married or
unmarried.
2. Property owned by a married person can belong to - correct answer -
the spouses together or be the separate property of one spouse.
3. An ownership interest that is based on annual occupancy intervals is a -
correct answer - time share.
4. Depending on the type of trust and its purpose, the trustor, trustee, and
beneficiary can all be either - correct answer - people or legal entities.
5. A deed conveying land on a one-third and two-thirds share basis
establishes a - correct answer - tenancy in common
, Page |2
6. An advantage of cooperative ownership of a dwelling is that - correct
answer - there are income tax advantages.
7. The term severalty comes from the fact that - correct answer - a sole
owner is severed or cut off from other owners.
8. Which of the following is NOT a form of co-ownership? - correct answer
- Ownership in severalty
9. If a shareholder in a cooperative defaults in maintenance payments, -
correct answer - the burden of the default falls on the remaining
shareholders.
10. Once a property is established as a condominium, each unit becomes
a separate parcel of real estate that is owned in fee simple and may be
held by - correct answer - one or more persons in any type of ownership
or tenancy recognized by state law.
11. Three people are joint tenants with rights of survivorship in a tract of
land. One owner conveys his interest to a friend. Which statement is
TRUE? - correct answer - The other two owners remain joint tenants.
, Page |3
12. The forms of property ownership are controlled by - correct answer -
the state
13. An ownership interest that can be an estate interest or a right of use
is a - correct answer - time share.
14. A corporation is - correct answer - a legal entity that can buy and sell
real estate as set out in its charter.
15. Ownership in severalty is - correct answer - property owned by one
individual or corporation.
16. A house is owned by three joint tenants, and one of the owners, as
permitted by state law, sells that interest to a new owner. The result is a
- correct answer - tenancy in common between the new owner and the
remaining joint tenants
17. The owner of a condominium unit learns that a neighbor has failed to
pay real estate taxes. If this neighbor does not pay the taxes, - correct
answer - a lien can be filed against the neighbor's unit and percentage
of the common elements.
, Page |4
18. Real properties owned by public entities, such as cities, counties,
states, and public agencies are generally - correct answer - owned in
severalty
19. The partition of property that is owned concurrently can be
accomplished by - correct answer - court action
20. A fee simple estate may be held - correct answer - in three basic
ways
21. Eight heirs are now the owners of a farm as tenants in common. This
means that use of the property can be determined by agreement of -
correct answer - all the owners.
22. When parties own property as tenants in common, each owner -
correct answer - has equal rights of possession with the other owners.
23. A person who owns one unit in a multiunit structure together with a
specified undivided interest in the common elements owns a - correct
answer - condominium
