BARNEY FLETCHER REAL ESTATE EXAM ACTUAL EXAM
300 QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY GRADED A+
Acknowledgment - ANSWER: A Formal certification of a signature
Actual notice - ANSWER: Knowledge one has gained based on what he
seen,heard,read or observed
Adverse possession - ANSWER: Title may be acquired by hostile,open and
notorious,exclusive and continuous occupancy by one who does not have title
Allodial System - ANSWER: Possession of land based on individual ownership
Attachment - ANSWER: Seizure of property by court order to insure payment of debt
or to have it available to satisfy a possible judgment
Common element - ANSWER: Parts of a condominium where unit owners hold an
individual interest
Condemnation - ANSWER: Taking property by state or eminent domain
Condominium ownership - ANSWER: Individual fee ownership of portion of a
building that has other similar units
Consideration - ANSWER: Something of value given in return for the act or promise
of another,an essential element of a contract
Constructive notice - ANSWER: Recording of documents in the public records
Cooperative ownership - ANSWER: Ownership in which individuals have share in
stock in corporation that has title to property
Deed in lieu of foreclosure - ANSWER: Voluntary act by borrower and lender called a
friendly foreclosure
Deed of trust - ANSWER: Used instead of a mortgage in some states
Deed restriction - ANSWER: A clause in deed limiting future use of property
Decent and distribution - ANSWER: (Intestate succession) method for distributing
assets of a deceased persons estate or will
Dominant Estate - ANSWER: Owner of land that has right to use appurtenant
easement
, Dower and curtesy - ANSWER: Right or interest that one spouse has in he property of
another
Downzoning - ANSWER: Change in zoning from higher more profitable to lower less
profitable
Easements - ANSWER: A specified and limited right or privilege to use another's
property
Eminent domain - ANSWER: The right of the government to acquire private property
for public use
Encroachment - ANSWER: Unauthorized invasion or intrusion on another property
Equitable lien - ANSWER: Arises out of agreement, property can be used to secure a
debt or obligation
Equitable title - ANSWER: Interest held by vendee under sales contract when legal
title is vested in another's name
Escheat - ANSWER: Reversion of property to the state when a person dies intestate
with no known heirs or when property is abandoned
Estoppel - ANSWER: A legal bar to a person alleging or denying a fact when his own
previous action conclusively indicates the contrary
Fee simple estate - ANSWER: Complete ownership of property without condition, the
largest and most highest interest one can possess in real estate
Foreclosure - ANSWER: Mortgaged property taken to satisfy a debt that is in default,
can be judicial or no judicial
Freehold - ANSWER: An interest in real property of a life estate or greater
Homestead exemption - ANSWER: Statutory provision that protects a person's
homestead from the claims of creditors
Joint tenancy - ANSWER: Tenancy with right of survivorship and various other
characteristics
Laches - ANSWER: An equitable doctrine used by courts to bar a plaintiff from
asserting a claim or right because of undue delay on his part
Land use control - ANSWER: A broad term describing any legal description that
regulates how a parcel of land may be used
Leasehold estate - ANSWER: An interest less then freehold, held by a lessee
300 QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY GRADED A+
Acknowledgment - ANSWER: A Formal certification of a signature
Actual notice - ANSWER: Knowledge one has gained based on what he
seen,heard,read or observed
Adverse possession - ANSWER: Title may be acquired by hostile,open and
notorious,exclusive and continuous occupancy by one who does not have title
Allodial System - ANSWER: Possession of land based on individual ownership
Attachment - ANSWER: Seizure of property by court order to insure payment of debt
or to have it available to satisfy a possible judgment
Common element - ANSWER: Parts of a condominium where unit owners hold an
individual interest
Condemnation - ANSWER: Taking property by state or eminent domain
Condominium ownership - ANSWER: Individual fee ownership of portion of a
building that has other similar units
Consideration - ANSWER: Something of value given in return for the act or promise
of another,an essential element of a contract
Constructive notice - ANSWER: Recording of documents in the public records
Cooperative ownership - ANSWER: Ownership in which individuals have share in
stock in corporation that has title to property
Deed in lieu of foreclosure - ANSWER: Voluntary act by borrower and lender called a
friendly foreclosure
Deed of trust - ANSWER: Used instead of a mortgage in some states
Deed restriction - ANSWER: A clause in deed limiting future use of property
Decent and distribution - ANSWER: (Intestate succession) method for distributing
assets of a deceased persons estate or will
Dominant Estate - ANSWER: Owner of land that has right to use appurtenant
easement
, Dower and curtesy - ANSWER: Right or interest that one spouse has in he property of
another
Downzoning - ANSWER: Change in zoning from higher more profitable to lower less
profitable
Easements - ANSWER: A specified and limited right or privilege to use another's
property
Eminent domain - ANSWER: The right of the government to acquire private property
for public use
Encroachment - ANSWER: Unauthorized invasion or intrusion on another property
Equitable lien - ANSWER: Arises out of agreement, property can be used to secure a
debt or obligation
Equitable title - ANSWER: Interest held by vendee under sales contract when legal
title is vested in another's name
Escheat - ANSWER: Reversion of property to the state when a person dies intestate
with no known heirs or when property is abandoned
Estoppel - ANSWER: A legal bar to a person alleging or denying a fact when his own
previous action conclusively indicates the contrary
Fee simple estate - ANSWER: Complete ownership of property without condition, the
largest and most highest interest one can possess in real estate
Foreclosure - ANSWER: Mortgaged property taken to satisfy a debt that is in default,
can be judicial or no judicial
Freehold - ANSWER: An interest in real property of a life estate or greater
Homestead exemption - ANSWER: Statutory provision that protects a person's
homestead from the claims of creditors
Joint tenancy - ANSWER: Tenancy with right of survivorship and various other
characteristics
Laches - ANSWER: An equitable doctrine used by courts to bar a plaintiff from
asserting a claim or right because of undue delay on his part
Land use control - ANSWER: A broad term describing any legal description that
regulates how a parcel of land may be used
Leasehold estate - ANSWER: An interest less then freehold, held by a lessee
