Skip to main content

Property ownership

Which is the least restricted or most complete form of ownership, where an owner has absolute title, which can be transfered by sale or bequest?

A. Fee simple
B. Condominium
C. Cooperative
D. Leasehold
E. Sale-and-leaseback

AnswerA. Fee simple. Condos include an interest in common building elements; Co-op is ownership of shares in a cooperatively owned building; Leasehold is a temporary right to land or property; Sale-leaseback sells the property asset to another entity and leases it back for a long term.

ARE 4.0 exam prep: PPP

Comments

Post a Comment

Try These Too!

Overimprovement

While underimprovement describes property that is not being put to its highest and best use (reducing its value), when does overimprovement apply?
Post a Comment
See the answer »

Change in services

An owner may authorize a change in services for which a written scope of duties is attached to the owner-architect contract, to provide a higher degree of monitoring or observing work on site than expected under basic construction phase services for architect's site visits. What is this role and when does it occur?
Post a Comment
See the answer »

Stone shape and usage

Which of the following forms of stone is irregular with a minimum of one good face and is used for ashlar veneers, curbs, sills, and copings? A. Monumental stone B. Rubble stone C. Dimension stone D. Rough stone Answer B. Rubble stone. ARE 4.0 exam prep: BDCS
Post a Comment
See the answer »