Distinction should include the following:
- Type of estates
- Forms of co-ownership
- Tenancy in common
- Joint tenancy
- Tenancy of the entirety
- Community property
- Leaseholds
- Common interest ownership properties
- Condo
- Cooperative
- Time shares
- Bundle of rights
DPOR correlations: 18VAC135-20-400. 5 (Deeds); 18VAC135-20-400. 6 (Mortgages and deeds of trust); 18VAC135-20-400. 7 (Types of mortgages); 18VAC135-20-400. 10 (Home ownership)
Process/Skill Questions:
- What is freehold ownership? Give examples.
- What is the difference between freehold and leasehold estates?
- What is Section 8 housing?