REAL ESTATE PRINCIPLES FINAL EXAM STUDY GUIDE 100 ACTUAL QUESTIONS AND CORRECT ANSWERS ACCURATE PRACTICE SOLUTION

REAL ESTATE PRINCIPLES FINAL EXAM
STUDY GUIDE 100 ACTUAL QUESTIONS
AND CORRECT ANSWERS ACCURATE
PRACTICE SOLUTION

⩥ Life Estate.
Answer: Conveys an estate in land for the duration of someones
life


⩥ Life Tenant.
Answer: The person whose life is how long they have the land
for


⩥ Reversionary Interest.
Answer: If the life tenant dies, the land reverts back you, making
you the Reversionary Interest


⩥ Remainderman.
Answer: Person who is not the owner of the property but will
receive it after the life tenant passes

, ⩥ Remainder Interest.
Answer: The interest a remainderman has in a property


⩥ Pur Autre Vie.
Answer: "For the life of another" a person who lives on the life
estate but someone elses life determines the length of ownership


⩥ Encumbrance.
Answer: Claim on a property that limits the fee simple estate, a
stick that has been removed from the bundle


⩥ Easement.
Answer: A right or privilege one person has to the use of a
property that belongs to another person


⩥ Easement of Gross.
Answer: Example: Utility easement is the right the utility
company has to place utility poles, lines, and pipes across
private property


⩥ Easement by Necessity.