Which estate gives the holder the greatest bundle of rights, including the right to sell, lease, or devise the property?
A. Life estate
B. Fee simple absolute
C. Leasehold estate
D. Estate for years
Source: PSI National Real Estate License Examination Candidate Handbook, General/National Content Outline (used for the national portion of the HI salesperson exam)
An easement that benefits one parcel of land (the dominant estate) by burdening an adjoining parcel (the servient estate) is called an easement:
A. In gross
B. Appurtenant
C. By necessity only
D. By prescription only
Source: PSI National Real Estate License Examination Candidate Handbook, General/National Content Outline (used for the national portion of the HI salesperson exam)
A restriction placed in a deed by a developer limiting how lots in a subdivision may be used is best described as a:
A. Deed restriction (private covenant)
B. Zoning ordinance
C. Building code
D. Variance
Source: PSI National Real Estate License Examination Candidate Handbook, General/National Content Outline (used for the national portion of the HI salesperson exam)
Under the bundle of rights concept, which of the following is NOT one of the traditional rights of real property ownership?
A. Right to possess
B. Right to control
C. Right of eminent domain
D. Right to exclude
Source: PSI National Real Estate License Examination Candidate Handbook, General/National Content Outline (used for the national portion of the HI salesperson exam)
A life estate that is created to last for the lifetime of someone other than the life tenant is called a life estate:
A. Pur autre vie
B. In severalty
C. By the entirety
D. In remainder
Source: PSI National Real Estate License Examination Candidate Handbook, General/National Content Outline (used for the national portion of the HI salesperson exam)
