Humber/Ontario Real Estate Course 1 Exam Practice

Which of the following is NOT an example of fee simple ownership?

1. A tenant who is leasing a property from the owner.

2. A property owned by husband and wife as joint tenants.

3. Two business partners owning a property as tenants-in-common.

4. A person who owns a semi-detached home and has the highest estate in that real property.

5. A single family home owned in entirety by one person.

6. A condominium unit owned individually but with shared common areas.

The correct answer is: A tenant who is leasing a property from the owner.

Fee simple ownership is the highest form of ownership interest one can have in real property. It provides the owner with absolute ownership rights, including the right to possess, use, and transfer the property. In option A, a tenant who is leasing a property from the owner does not have fee simple ownership. In a lease agreement, the tenant has possessory rights but does not own the property outright. Options B, C, D, E, and F all describe scenarios where fee simple ownership is present. Option B mentions joint tenancy, where both parties have an equal and undivided interest in the property. Option C describes tenants-in-common, where each owner has a distinct, proportionate share of the property. Option D refers to fee simple ownership directly. Option E describes fee simple ownership of a single-family home. Option F involves individual ownership of a condominium unit, which includes fee simple ownership of the unit itself and shared ownership of common areas.