Property Ownership
In Washington, a 'possessory interest' in real property refers to:
AOwning the fee simple title
BThe right to physically occupy and use the property, whether as an owner, tenant, or adverse possessor✓ Correct
COnly the mortgage lien
DThe government's interest through taxation
Explanation
A possessory interest is the right to physically possess and use real property. This includes fee simple owners, tenants with valid leases, and adverse possessors during their period of possession.
People Also Study
Related Washington Questions
- A Washington landowner discovers their property's eastern boundary fence has been 2 feet inside the neighbor's property for over 30 years. The neighbor claims adverse possession. Under RCW 7.28.050, what must the neighbor prove?Property Ownership
- A Washington homeowner refinances their primary residence. The homeowner has a 3-day right of rescission under the Truth in Lending Act (TILA). During this period, the homeowner may:Escrow & Title
- In Washington, adverse possession requires the claimant to use the property in a manner that is:Property Ownership
- A Washington commercial tenant has a right of first refusal in their lease. This means:Property Management
- A Washington buyer wants to purchase a home contingent on the sale of their current home. The seller may include a 'bump clause' (right to continue marketing clause), which means:Contracts
- In Washington, a property owner's interest in their property can be involuntarily transferred to a creditor through a:Property Ownership
- In Washington, a property manager who shows different units to prospective tenants based on their race is committing:Fair Housing
- Washington's Department of Ecology requires property owners who discover underground storage tanks (USTs) on their property to:Environmental
Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Fee SimpleThe highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Study This Topic
Practice More Washington Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Washington Quiz →