Chapter 3 Self-test questions

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1. The fee simple absolute in possession is the legal freehold estate.

True correct incorrect

False correct incorrect

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2. Anne grants Bill a life interest in her house. Does this give Bill a legal estate in the house?

Yes, because a life interest is an estate in land. correct incorrect

Yes, because a life interest is a freehold estate. correct incorrect

No, because a life interest is not a 'fee' as it is not inheritable. correct incorrect

No, because life interests cannot be granted at all. correct incorrect

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3. Match the example with the correct definition of the interest created.

3a. Cathy grants Dan an unqualified freehold estate in land

Select an answer choice An estate in remainder Fee simple absolute in possession An estate in reversion

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3b. George grants Harry a fee simple in land ‘after Isabel dies’.

Select an answer choice An estate in remainder Fee simple absolute in possession An estate in reversion

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3c. Jack grants Kate a life interest in his land. What interest does Jack retain in the land?

Select an answer choice An estate in remainder An estate in reversion Fee simple absolute in possession

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4. An estate in possession means that the owner of the estate must live on the land.

True correct incorrect

False correct incorrect

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5. Which of the following will usually be carried out by the purchaser during the negotiation and agreement stage of purchasing a freehold estate? Please select all that apply.

Arranging a loan secured by a charge (mortgage) over the property. correct incorrect

Getting a survey of the property. correct incorrect

Looking at the property. correct incorrect

Exchanging contracts. correct incorrect

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6. Which statement best represents the requirements of a contract for the sale of an interest in land?

The contract must be evidenced in writing. correct incorrect

The contract must be signed by both parties and witnessed. correct incorrect

The contract must be made in writing, incorporate all the terms expressly agreed by the parties, and be signed by both parties. correct incorrect

There must be two copies of the contract, which must be made in writing, incorporate all the terms expressly agreed by the parties, and be signed by both parties. correct incorrect

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7. Which of the following are requirements of a valid deed executed by an individual? Please select all that apply.

The document must be signed. correct incorrect

The document must declare on its face that it is a deed. correct incorrect

The document must be sealed. correct incorrect

The document must be delivered. correct incorrect

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8. After a transfer of a freehold estate takes place, it must be completed by registration.

True correct incorrect

False correct incorrect

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9. What is a TR1 form?

A land registry form now used to transfer both unregistered and registered legal estates in land. correct incorrect

A land registry form used to transfer registered legal estates in land. correct incorrect

A land registry form used to transfer equitable interests in land. correct incorrect

A land registry form used to create equitable interests in land. correct incorrect