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Stock certificates (or electronic records in modern practice) evidence shareholder ownership. Articles form the corporation; bylaws govern operations; resolutions record board actions. Paralegals maintain stock ledgers, issue certificates, and confirm ownership. The CP exam tests corporate documentation and shareholder rights.

Domestic support obligations such as child support and alimony are among the debts that cannot be discharged under the Bankruptcy Code. Other non-dischargeable debts include certain taxes, student loans (absent undue hardship), and debts arising from fraud or willful injury. General unsecured debts such as credit cards, utilities, and medical bills are usually dischargeable. For paralegals, accurately classifying debts is crucial when preparing bankruptcy schedules and advising clients about realistic outcomes. The CP exam tests the difference between dischargeable and non-dischargeable debts and highlights the policy goal of protecting family support obligations.

A tenancy at sufferance arises when a tenant holds over without consent after lease expiration. The landlord may evict or accept rent, converting it to a periodic tenancy. Tenancy at will ends at any time; periodic tenancy renews automatically; tenancy for years has a fixed term. Paralegals reviewing leases must identify tenancy types for proper eviction procedures. The CP exam tests distinctions among leasehold estates.

A codicil modifies, explains, or republishes a previously executed will and must satisfy the same formalities as a will (e.g., writing, signature, witnesses) under applicable state law. It may add or revoke provisions without rewriting the entire document. Trust amendments modify trust terms, not wills. Affidavits of heirship assist in establishing heirs where probate is not opened, and deeds convey real property interests. Paralegals ensure codicils are properly executed, track revocations, and verify that the combined documents reflect the testator’s final intent. The CP exam tests understanding of testamentary instruments, execution requirements, and the interplay of wills, codicils, and revocations in probate administration.

An easement is a nonpossessory interest that authorizes limited use of another’s land (e.g., ingress/egress, utilities). It may be appurtenant (benefiting a dominant estate) or in gross (benefiting a person or entity). Fee simple and life estates are possessory estates; a leasehold gives the tenant possession for a term. Paralegals review title commitments and recorded instruments to confirm easement scope, location, and transferability, and to ensure disclosures and plats are consistent. The CP exam assesses knowledge of property interests, encumbrances, and how these interests are created (grant, reservation, implication, necessity, prescription) and terminated (release, merger, abandonment).