1|Page
TENNESSEE NATIONAL PORTION REAL ESTATE EXAM
2025 WITH 100% VERIFIED QUESTIONS AND EXPERT
SOLUTIONS| GUARANTEED VALUE AND SUCCESS.
A corporation is - (answers)a legal entity that can buy and sell real estate as set
out in its charter.
Ownership in severalty is - (answers)property owned by one individual or
corporation.
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 - (answers)tenancy in
common between the new owner and the remaining joint tenants
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, - (answers)a lien can be filed
against the neighbor's unit and percentage of the common elements.
Real properties owned by public entities, such as cities, counties, states, and
public agencies are generally - (answers)owned in severalty
The partition of property that is owned concurrently can be accomplished by -
(answers)court action
A fee simple estate may be held - (answers)in three basic ways
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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 - (answers)all the owners.
When parties own property as tenants in common, each owner - (answers)has
equal rights of possession with the other owners.
A person who owns one unit in a multiunit structure together with a specified
undivided interest in the common elements owns a - (answers)condominium
A trust is a device by which one person transfers ownership of property to
someone else to hold or manage for - (answers)the benefit of a third party.
Joint tenancy is - (answers)a form of concurrent ownership of property that is
available to two or more people, whether married or unmarried.
Property owned by a married person can belong to - (answers)the spouses
together or be the separate property of one spouse.
An ownership interest that is based on annual occupancy intervals is a -
(answers)time share.
Depending on the type of trust and its purpose, the trustor, trustee, and
beneficiary can all be either - (answers)people or legal entities.
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A deed conveying land on a one-third and two-thirds share basis establishes a -
(answers)tenancy in common
An advantage of cooperative ownership of a dwelling is that - (answers)there are
income tax advantages.
The term severalty comes from the fact that - (answers)a sole owner is severed or
cut off from other owners.
Which of the following is NOT a form of co-ownership? - (answers)Ownership in
severalty
If a shareholder in a cooperative defaults in maintenance payments, -
(answers)the burden of the default falls on the remaining shareholders.
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 -
(answers)one or more persons in any type of ownership or tenancy recognized by
state law.
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? - (answers)The
other two owners remain joint tenants.
The forms of property ownership are controlled by - (answers)the state
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An ownership interest that can be an estate interest or a right of use is a -
(answers)time share.
One of the distinguishing characteristics of a land trust is that public records
usually - (answers)do not name the beneficiary
The real property interest that takes the form of personal property is -
(answers)the cooperative unit ownership.
Three women were concurrent owners of a parcel of real estate. When one of the
women died, her interest, according to her will, became part of the estate. The
deceased was a - (answers)tenant in common
A neutral individual holds title for the benefit of another when property is -
(answers)held in trust.
The four unities of possession, interest, time, and title are associated with which
of the following? - (answers)Joint tenancy
A legal arrangement under which the title to real property is held to protect the
interests of a beneficiary is a - (answers)trust
If property is held by two or more owners as joint tenants, the interest of a
deceased co-owner will be passed to - (answers)the surviving owner or owners
TENNESSEE NATIONAL PORTION REAL ESTATE EXAM
2025 WITH 100% VERIFIED QUESTIONS AND EXPERT
SOLUTIONS| GUARANTEED VALUE AND SUCCESS.
A corporation is - (answers)a legal entity that can buy and sell real estate as set
out in its charter.
Ownership in severalty is - (answers)property owned by one individual or
corporation.
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 - (answers)tenancy in
common between the new owner and the remaining joint tenants
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, - (answers)a lien can be filed
against the neighbor's unit and percentage of the common elements.
Real properties owned by public entities, such as cities, counties, states, and
public agencies are generally - (answers)owned in severalty
The partition of property that is owned concurrently can be accomplished by -
(answers)court action
A fee simple estate may be held - (answers)in three basic ways
,2|Page
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 - (answers)all the owners.
When parties own property as tenants in common, each owner - (answers)has
equal rights of possession with the other owners.
A person who owns one unit in a multiunit structure together with a specified
undivided interest in the common elements owns a - (answers)condominium
A trust is a device by which one person transfers ownership of property to
someone else to hold or manage for - (answers)the benefit of a third party.
Joint tenancy is - (answers)a form of concurrent ownership of property that is
available to two or more people, whether married or unmarried.
Property owned by a married person can belong to - (answers)the spouses
together or be the separate property of one spouse.
An ownership interest that is based on annual occupancy intervals is a -
(answers)time share.
Depending on the type of trust and its purpose, the trustor, trustee, and
beneficiary can all be either - (answers)people or legal entities.
,3|Page
A deed conveying land on a one-third and two-thirds share basis establishes a -
(answers)tenancy in common
An advantage of cooperative ownership of a dwelling is that - (answers)there are
income tax advantages.
The term severalty comes from the fact that - (answers)a sole owner is severed or
cut off from other owners.
Which of the following is NOT a form of co-ownership? - (answers)Ownership in
severalty
If a shareholder in a cooperative defaults in maintenance payments, -
(answers)the burden of the default falls on the remaining shareholders.
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 -
(answers)one or more persons in any type of ownership or tenancy recognized by
state law.
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? - (answers)The
other two owners remain joint tenants.
The forms of property ownership are controlled by - (answers)the state
, 4|Page
An ownership interest that can be an estate interest or a right of use is a -
(answers)time share.
One of the distinguishing characteristics of a land trust is that public records
usually - (answers)do not name the beneficiary
The real property interest that takes the form of personal property is -
(answers)the cooperative unit ownership.
Three women were concurrent owners of a parcel of real estate. When one of the
women died, her interest, according to her will, became part of the estate. The
deceased was a - (answers)tenant in common
A neutral individual holds title for the benefit of another when property is -
(answers)held in trust.
The four unities of possession, interest, time, and title are associated with which
of the following? - (answers)Joint tenancy
A legal arrangement under which the title to real property is held to protect the
interests of a beneficiary is a - (answers)trust
If property is held by two or more owners as joint tenants, the interest of a
deceased co-owner will be passed to - (answers)the surviving owner or owners
