National Real Estate Exam Prep (Latest
Update ) Questions & Answers
{Grade A} 100% Correct
Life Estate - correct answer The estate CANNOT be passed on to the life estate
holder's heirs.
Pur Autre Vie - correct answer A life estate that is dependent up the life of another.
Estate for Years is a type of leasehold that: - correct answer Has a specific expiration
date or specific term.
Period to Period is a type of leasehold that: - correct answer Has no specific expiration
but the length is specified (like a month to month lease)
,Joint Tenancy - correct answer 2 or more ownership holders own a fraction of
UNDIVIDED interest. Rights of survivorship apply.
The types of deeds are: - correct answer 1) Warranty Deed
2) Special (or limited) Warranty Deed
3) Quitclaim Deed
4) Special Purpose Deed
5) Transfer on Death Deed.
Warranty Deed - correct answer Offers the greatest protection that a deed can give.
Special Warranty Deed (Limited warranty deed) - correct answer 1) Owner warrants
only that he has not done harm to the title
2) Covers only the period of time when the sellers owner the property.
, Quitclaim Deed - correct answer The seller agrees to convey whatever interest, IF
ANY, they have in the property.
The reason a deed is recorded is - correct answer for protection against a third party.
Elements necessary to a valid deed: - correct answer 1) signed & acknowledged by
grantor
2) Lists marital status of the grantor
3) Use words of conveyance - also called a granting clause
4) Names & addresses of grantees
5) Acknowledged by Grantor in front of Notary Public
6) Signed in front of two witnesses (in most states)
7) Legal description
8) Delivery & acceptance of deed
Update ) Questions & Answers
{Grade A} 100% Correct
Life Estate - correct answer The estate CANNOT be passed on to the life estate
holder's heirs.
Pur Autre Vie - correct answer A life estate that is dependent up the life of another.
Estate for Years is a type of leasehold that: - correct answer Has a specific expiration
date or specific term.
Period to Period is a type of leasehold that: - correct answer Has no specific expiration
but the length is specified (like a month to month lease)
,Joint Tenancy - correct answer 2 or more ownership holders own a fraction of
UNDIVIDED interest. Rights of survivorship apply.
The types of deeds are: - correct answer 1) Warranty Deed
2) Special (or limited) Warranty Deed
3) Quitclaim Deed
4) Special Purpose Deed
5) Transfer on Death Deed.
Warranty Deed - correct answer Offers the greatest protection that a deed can give.
Special Warranty Deed (Limited warranty deed) - correct answer 1) Owner warrants
only that he has not done harm to the title
2) Covers only the period of time when the sellers owner the property.
, Quitclaim Deed - correct answer The seller agrees to convey whatever interest, IF
ANY, they have in the property.
The reason a deed is recorded is - correct answer for protection against a third party.
Elements necessary to a valid deed: - correct answer 1) signed & acknowledged by
grantor
2) Lists marital status of the grantor
3) Use words of conveyance - also called a granting clause
4) Names & addresses of grantees
5) Acknowledged by Grantor in front of Notary Public
6) Signed in front of two witnesses (in most states)
7) Legal description
8) Delivery & acceptance of deed
