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Unit 1 Topic 16

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Your customer, Mr Smith, wants to know the best way of ensuring that his 16-year-old son, Tom, has a legal interest in the new house he has just bought. What would be the best way of doing this?

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Peter, Paul and Pamela own a house on a ‘tenants in common’ basis, each having a 1/3 share. In the event of Paul’s death:

3 / 22

What requirement rests on a discharged bankrupt when applying for a mortgage?

4 / 22

One of the financial restrictions placed on undischarged bankrupts is that:

5 / 22

When acting as the agent of a principal, it is a fundamental rule that:

6 / 22

Despite his recent marriage to Katrina, John’s existing will has remained in force. Why is this?

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Under the rules of intestacy, which one of the following ranks the highest should a divorced person die intestate?

8 / 22

Any loss made by a partnership is usually:

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When an individual dies intestate, leaving a spouse, children and an estate valued at £110,000, which one of the following applies?

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If a person dies intestate, what document will the deceased’s legal representatives require in order to deal with the estate?

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The difference between a lasting power of attorney and an ordinary power of attorney is that:

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If a man dies intestate leaving a widow and children and an estate valued at £500,000, what is the MAXIMUM cash sum the widow will receive from the deceased’s estate?

13 / 22

Walter and Winnie own their house on a joint tenant’s basis. If Walter dies:

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Martin has set up a trust fund for the benefit of his three grandchildren and has appointed two trustees with discretion to exercise their powers. In these circumstances:

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Which one of the following has the capacity to enter into a legal contract?

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What role does the Court of Protection play with lasting powers of attorney?

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Which ONE of the following items of property would be referred to as personality

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Where a person with an invalid will dies, the insurer will determine the identity of the personal representatives by:

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If there is a valid will, the insurer will determine the identity of the personal representatives by:

20 / 22

Tom was declared bankrupt in June 2018. For how long will his bankruptcy order remain in place?

21 / 22

What is the benefit of a ‘deed of variation’ to a beneficiary under a will?

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When a single person dies intestate without any children, with an estate of £150,000, which one of the following would apply?

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