Module 1: Hawaii Pre-Licensing Real Estate Class Flashcards

Module 1: Hawaii Pre-Licensing Real Estate Class Flashcards

An owner of a life estate can do all of the following

EXCEPT:A) SellB) MortgageC) DeviseD) Lease

• DeviseA life estate holder cannot pass on his interest in

the property by a will (devise). The life estate interest expires upon the death of the life estate holder and will revert to the grantor or go to a remainder person.An appropriation of land for some public use made by the owner and accepted for such use by or on behalf of the

public, such as streets in a platted subdivision, is called:A)

An easementB) DedicationC) A public grantD) Condemnation

• DedicationDevelopers will usually dedicate roads, water

tanks, sewer treatment plants to the government after the project is completed. The government is responsible for the maintenance of the improvement once the dedication has occurred.Two sisters, F and M, inherit real property from their mother with no stipulation except that one-third is to go to F and two-thirds to M. Which of the following is true?A) F and M are joint tenants of the propertyB) M may not mortgage her interest in the property without F's consentC) Upon F's death, her part of the property reverts to MD) Upon M's death, her share passes to her heirs or devisees

• Upon M's death, her share passes to her heirs or

deviseesWhen unequal shares of property are held by two or more owners, the title must be in Tenancy in Common.A woman purchased a property for $35,000. She made a 10% deposit. She obtained a mortgage for 75% of the purchase price, with a 1% origination fee. What additional cash does she need at closing?A) $9,012.50B)

$9,762.50C) $8,774.50D) $5,512.50

D) $5,512.50

If Jorge and Mary owned an undivided interest in the property, and when Jorge died Jorge's share would pass on to Jorge's children and heirs, and when Mary died Mary's share would pass on to Jorge, how do Jorge and Mary hold title to the property?A) Joint tenancyB) Tenancy in commonC) Tenancy in severaltyD) Tenancy by the entirety

• Tenancy in commonJorge willed his share to his children

and Mary willed her share to Jorge which is allowed in Tenancy in Common.Regarding Public Access to Shorelines in Hawaii (PASH), all of the following apply to native Hawaiian rights EXCEPT

that they:A) Have access to undeveloped lands privately

owned for traditional gathering rightsB) Have access to undeveloped lands privately owned for traditional cultural purposesC) Have access to undeveloped lands privately owned for access to the shoreline for fishing purposesD) Have access to developed lands privately owned for religious needs

• Have access to developed lands privately owned for

religious needsDeveloped lands have not been accessible to Hawaiian groups under PASH.If title to a farm is held in tenancy by the entirety, which of the following is true?A) A specifically enforceable contract to sell the farm must be signed by husband and wifeB) A creditor of one spouse can assert a valid lien on the farmC)

Either husband or wife may partition the propertyD) The shares may be unequal

• A specifically enforceable contract to sell the farm must

be signed by husband and wife

A life estate may be granted:A) Only when it is for the

duration of the grantee's lifeB) For the duration of the life

on someone other than the granteeC) For a definite termD) Only to a grantee over the age of majority

• For the duration of the life on someone other than the

granteeLife estate can be on the life (or lives) of the person

living on the property or on the life (or lives) of someone that does not reside on the property.All rights in the land that happen to pass with the

conveyance of the land are BEST described as:A) A

reversion interestsB) WarrantiesC) TenementsD) Reservation interests

• TenementsAll rights in land which pass with a

conveyance of the land both tangible and intangible.The reciprocal beneficiary law extends certain rights and benefits that were previously only available to married couples to couples that are legally prohibited from marrying (gay and lesbian) under Hawaii state law. In order to enter into a valid relationship all of the following are necessary

except:A) Each party must be at least twenty-one years

oldB) Each party sign a declaration of reciprocal beneficiary relationshipC) The parties be legally prohibited from marrying one anotherD) The parties be unmarried

• Each party must be at least twenty-one years oldIn

Hawaii, legal age is 18.All of the following forms of ownership are recognized

under Hawaii law EXCEPT:A) Tenancy in commonB) Joint

tenancy with survivorship rightsC) Community propertyD) Tenancy by the entirety

• Community propertyHawaii is not a community property

state.

One is seized of property when he or she:A) Is the lawful

ownerB) Is a trespasserC) Is in possession of property under a leaseD) Has fulfilled the required period for adverse possession

• Is the lawful ownerSeisen means the possession of real

property that the owner is entitled to.If A deeds property to B and her heirs, with the stipulation that if B leaves no heirs the property will then go to C, then C now holds which type of estate?A) Contingent life estateB) Contingent reversion feeC) Contingent remainder feeD) Reversionary interest

• Contingent remainder feeRemainder interest occurs

when the property is given to the third party and not to the grantor or grantor's estate.The MOST important factor in determining whether

something is a fixture is:A) The method of its attachmentB)

Its sizeC) Its weightD) The intention of the party who attached it

• The intention of the party who attached itOf the 4

methods to determine whether an item is personal or real property, INTENT is the most important determining factor.Which of the following BEST describes personal

property:A) ChattelB) AppurtenanceC) FixtureD)

Improvement

• ChattelChattel is personal property which is tangible.

Only a husband and wife may hold title to real property

as:A) Joint tenantsB) Tenants by the entiretyC) Tenants in

commonD) Tenants by the severalty

• Tenants by the entiretyIn Hawaii, only males and

females that are married can hold title to property in Tenancy by the Entirety.

A disadvantage of land trust is that:A) The land trust can be

used as an effective replacement for the agreement of saleB) Actual owners must be disclosed on any governmental application for zoningC) A land trust can permit an owner to divide his beneficial interest into smaller units of ownership so that it can be given as gifts over a period of yearsD) After the trust is established, it is possible