New York Property Ownership
Practice Questions & Answers (2026)
Property ownership questions on the New York exam test forms of ownership, how title is held, and the rights that come with different ownership structures. New York tests joint tenancy, tenancy in common, tenancy in severalty, and the specific unities required to create each form. The New York Department of State (DOS) frequently tests what happens to ownership when one co-owner dies under each ownership form. These questions are foundational but often contain traps for candidates who memorize definitions without understanding the real-world implications tested by the NY exam.
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New York Property Ownership — Practice Questions & Answers
149 questions on Property Ownership from the New York real estate question bank. First 10 are free — sign up to unlock all 149.
Q1. In New York, a cooperative apartment (co-op) owner technically owns:
Explanation
In a co-op, residents own shares in the corporation that owns the building and receive a proprietary lease for their unit. They do not own real property directly, which has important legal and financing implications.
Q2. Which form of co-ownership in New York includes the right of survivorship AND can only be held by a married couple?
Explanation
Tenancy by the entirety is a form of co-ownership available only to married couples in New York. It includes the right of survivorship and protects the property from the individual debts of either spouse.
Q3. A deed restriction is best described as:
Explanation
A deed restriction (also called a restrictive covenant) is a private limitation on land use created by a prior owner and recorded in the deed. It runs with the land and binds future owners.
Q4. In New York, a condominium owner holds title to:
Explanation
A condominium owner holds fee simple title to their individual unit and an undivided percentage interest in the common elements of the condominium project.
Q5. Adverse possession in New York requires continuous, open, hostile, and exclusive use for a period of:
Explanation
In New York, adverse possession requires continuous, open, notorious, hostile, and exclusive use of the property for 10 years. After meeting these requirements, the adverse possessor may claim title.
Q6. What is a 'proprietary lease' in the context of a New York co-op?
Explanation
A proprietary lease is the agreement between the co-op corporation and a shareholder that grants the shareholder the right to occupy a specific apartment unit in exchange for the payment of maintenance fees.
Q7. In New York, the NY Condominium Act is found in:
Explanation
The New York Condominium Act, which governs the creation and operation of condominiums in New York State, is found in Article 9-B of the Real Property Law.
Q8. Joint tenancy requires four unities. Which of the following is NOT one of them?
Explanation
The four unities required for joint tenancy are Time, Title, Interest, and Possession (TTIP). 'Purpose' is not one of the required unities.
Q9. A life estate tenant (life tenant) in New York has the right to:
Explanation
A life tenant has the right to use, possess, and enjoy the property during their lifetime (or the measuring life). However, they cannot sell fee simple title or create encumbrances that extend beyond the life estate.
Q10. In New York, a co-op board has the right to:
Explanation
New York co-op boards have broad authority to approve or reject prospective purchasers of shares in the cooperative, provided they do not discriminate based on protected classes under fair housing laws.
Q11. The bundle of rights associated with real property ownership includes all of the following EXCEPT:
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