COLIBRI REAL ESTATE PRACTICE FINAL
FULL SOLUTION 2026 QUESTIONS WITH
SOLUTIONS GRADED A+
⩥ Accession. Answer: The idea that the owner of land is entitled to all
that the soil produces or all that is added to the land either intentionally
or by mistake. Trade fixtures not removed are "assessed" by the owner
of the property.
⩥ Ad Valorem. Answer: A prefix meaning "based on value." Most local
governments levy an ad valorem tax on property.
⩥ Adverse Possession. Answer: A method of acquiring original title to
property by open, notorious and hostile possession for a statutory period
of time; also referred to as prescription. Poach.
⩥ Alienation Clause. Answer: A provision in a mortgage requiring full
payment of the debt upon the transfer of title to the property, due on sale.
Prevents loan assumptions.
⩥ Allodial Rights. Answer: The free and full ownership of rights in land
by individuals, which is the basis of real property in the United States.
, ⩥ Appurtenance. Answer: Any right or privilege which belongs to and
passes with land.
⩥ Arm's Length Transaction. Answer: Occurs between willing buyer and
willing seller with each party completely knowledgeable about the
market.
⩥ Arrears. Answer: Not on time; late in making payments or completing
work. Interest is paid in arrears.
⩥ Attestation. Answer: The act of witnessing a person's signing of an
instrument by a notary public.
⩥ Attorney's Opinion of Title. Answer: A statement issued by an
attorney after analyzing an abstract as to quality of title.
⩥ Avulsion. Answer: Occurs in cases where there is a sudden loss of
land through nature.
⩥ Balloon Payment. Answer: The remaining balance, at maturity, on a
loan that has not been completely repaid through periodic payments.
Once paid, the outstanding balance is zero. Partially amortized loan.
FULL SOLUTION 2026 QUESTIONS WITH
SOLUTIONS GRADED A+
⩥ Accession. Answer: The idea that the owner of land is entitled to all
that the soil produces or all that is added to the land either intentionally
or by mistake. Trade fixtures not removed are "assessed" by the owner
of the property.
⩥ Ad Valorem. Answer: A prefix meaning "based on value." Most local
governments levy an ad valorem tax on property.
⩥ Adverse Possession. Answer: A method of acquiring original title to
property by open, notorious and hostile possession for a statutory period
of time; also referred to as prescription. Poach.
⩥ Alienation Clause. Answer: A provision in a mortgage requiring full
payment of the debt upon the transfer of title to the property, due on sale.
Prevents loan assumptions.
⩥ Allodial Rights. Answer: The free and full ownership of rights in land
by individuals, which is the basis of real property in the United States.
, ⩥ Appurtenance. Answer: Any right or privilege which belongs to and
passes with land.
⩥ Arm's Length Transaction. Answer: Occurs between willing buyer and
willing seller with each party completely knowledgeable about the
market.
⩥ Arrears. Answer: Not on time; late in making payments or completing
work. Interest is paid in arrears.
⩥ Attestation. Answer: The act of witnessing a person's signing of an
instrument by a notary public.
⩥ Attorney's Opinion of Title. Answer: A statement issued by an
attorney after analyzing an abstract as to quality of title.
⩥ Avulsion. Answer: Occurs in cases where there is a sudden loss of
land through nature.
⩥ Balloon Payment. Answer: The remaining balance, at maturity, on a
loan that has not been completely repaid through periodic payments.
Once paid, the outstanding balance is zero. Partially amortized loan.
