National Real Estate Exam Prep (Latest
Update ) Questions & Answers
{Grade A} 100% Correct
Eminent Domain - correct answer The RIGHT of the government to condemn & take the
property.
Condemnation - correct answer The PROCESS of the government taking a property by
eminent domain.
Escheat - correct answer The state takes property upon an owners death if there is no
will & no heirs exist.
,Adverse Possession - correct answer A person takes possession & use of a property
belonging to another. Possession must be open, notorious, hostile & uninterrupted for
a certain period of time.
Abstract of Title - correct answer A complete history of ownership.
Encumbrance - correct answer A claim or liability that attaches to the land & is held by
one who is NOT the fee owner.
Examples of Specific Liens - correct answer real estate taxes, mortgages, mechanics
liens
Easement - correct answer Right to use a property for a specific use
, Easement in Gross - correct answer An entity's personal right to use property. The
receiver DOES NOT own the adjoining property. Example: utility easement
Easement Appurtenant - correct answer Runs with the land.
Easement by Necessity - correct answer Created when no other access to land
exists...right of ingress & egress
Easement by Prescription - correct answer Created through continual use over a
certain period of time. It must be continual, visible, & w/o approval. Example - a private
road becomes public.
License - correct answer A privilege granted to an individual for a specific purpose. It
is NOT assignable to others.
Update ) Questions & Answers
{Grade A} 100% Correct
Eminent Domain - correct answer The RIGHT of the government to condemn & take the
property.
Condemnation - correct answer The PROCESS of the government taking a property by
eminent domain.
Escheat - correct answer The state takes property upon an owners death if there is no
will & no heirs exist.
,Adverse Possession - correct answer A person takes possession & use of a property
belonging to another. Possession must be open, notorious, hostile & uninterrupted for
a certain period of time.
Abstract of Title - correct answer A complete history of ownership.
Encumbrance - correct answer A claim or liability that attaches to the land & is held by
one who is NOT the fee owner.
Examples of Specific Liens - correct answer real estate taxes, mortgages, mechanics
liens
Easement - correct answer Right to use a property for a specific use
, Easement in Gross - correct answer An entity's personal right to use property. The
receiver DOES NOT own the adjoining property. Example: utility easement
Easement Appurtenant - correct answer Runs with the land.
Easement by Necessity - correct answer Created when no other access to land
exists...right of ingress & egress
Easement by Prescription - correct answer Created through continual use over a
certain period of time. It must be continual, visible, & w/o approval. Example - a private
road becomes public.
License - correct answer A privilege granted to an individual for a specific purpose. It
is NOT assignable to others.
