Maine Real Estate Final Exam Questions and Answers 100% Correct(Latest Update)

An adequate legal description of real estate is one: - ANSWER-by which a reasonable person can determine what property is described - the legal description is legally "adequate" if a reasonable person could identify the property based on the description. Ownership of real estate includes: a.) Rights to use the surface, subsurface and airspace over the land b.) Fixtures c.) Naturally growing tree growing on the land d.) All of the above - ANSWER-D.) All of the above Subsurface rights in real estate include the rights to: a.) Sell minerals b.) Dig a well c.) Construct a foundation d.) All of the above - ANSWER-d.) All of the above - sub-surface rights include all the rights to sell whatever minerals there may be as well as to use the land below the surface. The right of a landowner and his/her heirs to occupy a parcel of real estate forever is called a: a.) Qualified fee b.) Life estate c.) Estate in fee simple absolute d.) Indeterminable estate - ANSWER-c.) Estate in fee simple absolute - Fee, fee simple, or fee simple absolute are interchangeable terms that describe the largest estate in land, and the one that is most commonly brokered by real estate licensees.