NJ REAL ESTATE EXAM 2026 PRACTICE TEST
PAPER PROPERTY LAW AND TRANSACTIONS
REVIEW SHEET FULL SOLUTIONS
◉ reliction. Answer: creation of dry land caused by the gradual
withdrawal of water from the land by the lowering of it's surface
level
◉ fixture. Answer: an article that once was personal property but
has now been so attached to land or building that is now considered
part of the real estate
◉ trade fixture. Answer: an article owned by a tenant and attached
to a rented space for use in conducting business
◉ Department of Housing and Urban Development (HUD). Answer:
◉ estate in land. Answer: the amount and kind of ownership interest
that a person has in real property. Divided into two types: Freehold
estates and leasehold estates
,◉ freehold estates. Answer: estates of indeterminable lengths, can
own for a lifetime or forever. Three types: fee simple, fee
determinable and life estates
◉ leasehold estates. Answer: involve tenants and are estates for a
period of time. Considered to be personal property, not real property
◉ fee simple. Answer: highest type of interest in real estate
recognized by law. the owner is entitled to all rights in the property
◉ fee determinable. Answer: aka conditional free or defeasible fee.
estate in land that can terminate on the occurrence or
nonoccurrence of a specified event.
◉ remainderman. Answer: a third party who would get the property
after the death of a life tenant
◉ life estate. Answer: limited to the life of a specific person
◉ reversionary interest. Answer: an owner's right to regain
possession of leased property upon termination of the lease
agreement
, ◉ dower. Answer: wife's interest in husband's real estate if
purchased before May 28, 1980
◉ curtesy. Answer: husband's interest in wife's real estate if
purchased before May 28, 1980
◉ encumbrance. Answer: claim, lien, charge or liability attached to
and binding on real property, it affects or limits its use, value or title
◉ lien. Answer: a financial claim against property that provides
security for a debt or obligation of the property owner
◉ voluntary lien. Answer: created by the property owner
(mortgage)
◉ involuntary lien. Answer: financial claim against the property that
is imposed without the owner's consent (property taxes)
◉ general lien. Answer: affects ALL the property someone owns
◉ specific lien. Answer: placed on one parcel of real estate only
◉ priority. Answer: the order in which liens will be paid, real estate
taxes take priority over all others
PAPER PROPERTY LAW AND TRANSACTIONS
REVIEW SHEET FULL SOLUTIONS
◉ reliction. Answer: creation of dry land caused by the gradual
withdrawal of water from the land by the lowering of it's surface
level
◉ fixture. Answer: an article that once was personal property but
has now been so attached to land or building that is now considered
part of the real estate
◉ trade fixture. Answer: an article owned by a tenant and attached
to a rented space for use in conducting business
◉ Department of Housing and Urban Development (HUD). Answer:
◉ estate in land. Answer: the amount and kind of ownership interest
that a person has in real property. Divided into two types: Freehold
estates and leasehold estates
,◉ freehold estates. Answer: estates of indeterminable lengths, can
own for a lifetime or forever. Three types: fee simple, fee
determinable and life estates
◉ leasehold estates. Answer: involve tenants and are estates for a
period of time. Considered to be personal property, not real property
◉ fee simple. Answer: highest type of interest in real estate
recognized by law. the owner is entitled to all rights in the property
◉ fee determinable. Answer: aka conditional free or defeasible fee.
estate in land that can terminate on the occurrence or
nonoccurrence of a specified event.
◉ remainderman. Answer: a third party who would get the property
after the death of a life tenant
◉ life estate. Answer: limited to the life of a specific person
◉ reversionary interest. Answer: an owner's right to regain
possession of leased property upon termination of the lease
agreement
, ◉ dower. Answer: wife's interest in husband's real estate if
purchased before May 28, 1980
◉ curtesy. Answer: husband's interest in wife's real estate if
purchased before May 28, 1980
◉ encumbrance. Answer: claim, lien, charge or liability attached to
and binding on real property, it affects or limits its use, value or title
◉ lien. Answer: a financial claim against property that provides
security for a debt or obligation of the property owner
◉ voluntary lien. Answer: created by the property owner
(mortgage)
◉ involuntary lien. Answer: financial claim against the property that
is imposed without the owner's consent (property taxes)
◉ general lien. Answer: affects ALL the property someone owns
◉ specific lien. Answer: placed on one parcel of real estate only
◉ priority. Answer: the order in which liens will be paid, real estate
taxes take priority over all others
