OHIO TITLE LICENSING CERTIFICATION
REVIEW 2026 COMPLETE GUIDE GRADED
A+
⩥ Two Types of Real Property Ownership.
Answer: 1. Legal
2. Equitable
**Most people have BOTH**
⩥ Legal Title.
Answer: Actual Ownership of property
⩥ Equitable Title.
Answer: When someone holds title for the benefit of others
(Trustee of a trust holds title. The Trustee holds legal title to the
property, but the beneficiaries hold equitable title)
⩥ Estates.
Answer: Have different duration rights of use, right of possession, and
right to transfer.
,⩥ Tenant.
Answer: term used to describe the person enjoying a type of estate
⩥ Types of Estates.
Answer: Freehold Estate and Non Freehold Estate
⩥ Freehold Estate Definition.
Answer: an interest in property, the duration which is not fixed by a
certain period of time
⩥ 5 Types of Freehold Estates.
Answer: 1. Fee Simple
2. Qualified Fee (Two Types)
3. Leasehold for 99 years Renewable forever
4. Life Estate
5. Condo Unit Ownership
⩥ Fee simple.
Answer: The highest interest in real estate recognized by the law; the
holder is entitled to all rights to the property. Can potentially last forever
and is fully alienable
⩥ Qualified Fee.
, Answer: Conveyance terminated upon the occurrence of a stated event
**Two Types
⩥ Fee Simple Determinable.
Answer: "So long as", "While" or "Until"
⩥ Fee Simple on Conditional Subsequent.
Answer: "Provided" "However" "But if" or "Upon Condition that"
⩥ Lease Hold For 99 years Renewable forever.
Answer: Leases of any kind are typically a non-freehold estate, but this
type is conveyed as Fee Simple Title
⩥ Condominium Unit Ownership.
Answer: created only by statue. You own what you own then have joint
ownership of common areas
⩥ Non-Freehold Estate.
Answer: an interest in property, the duration which is fixed by a specific
⩥ Life Estate.
Answer: Right to possession of the land during the life of the estate
holder
REVIEW 2026 COMPLETE GUIDE GRADED
A+
⩥ Two Types of Real Property Ownership.
Answer: 1. Legal
2. Equitable
**Most people have BOTH**
⩥ Legal Title.
Answer: Actual Ownership of property
⩥ Equitable Title.
Answer: When someone holds title for the benefit of others
(Trustee of a trust holds title. The Trustee holds legal title to the
property, but the beneficiaries hold equitable title)
⩥ Estates.
Answer: Have different duration rights of use, right of possession, and
right to transfer.
,⩥ Tenant.
Answer: term used to describe the person enjoying a type of estate
⩥ Types of Estates.
Answer: Freehold Estate and Non Freehold Estate
⩥ Freehold Estate Definition.
Answer: an interest in property, the duration which is not fixed by a
certain period of time
⩥ 5 Types of Freehold Estates.
Answer: 1. Fee Simple
2. Qualified Fee (Two Types)
3. Leasehold for 99 years Renewable forever
4. Life Estate
5. Condo Unit Ownership
⩥ Fee simple.
Answer: The highest interest in real estate recognized by the law; the
holder is entitled to all rights to the property. Can potentially last forever
and is fully alienable
⩥ Qualified Fee.
, Answer: Conveyance terminated upon the occurrence of a stated event
**Two Types
⩥ Fee Simple Determinable.
Answer: "So long as", "While" or "Until"
⩥ Fee Simple on Conditional Subsequent.
Answer: "Provided" "However" "But if" or "Upon Condition that"
⩥ Lease Hold For 99 years Renewable forever.
Answer: Leases of any kind are typically a non-freehold estate, but this
type is conveyed as Fee Simple Title
⩥ Condominium Unit Ownership.
Answer: created only by statue. You own what you own then have joint
ownership of common areas
⩥ Non-Freehold Estate.
Answer: an interest in property, the duration which is fixed by a specific
⩥ Life Estate.
Answer: Right to possession of the land during the life of the estate
holder
