NYS real estate final practice actual exam
questions with verified detailed complete
answers newest 2025
When someone makes use of another's property? --- correct answers -
--Adverse Possession
For how many years must another use some one else property for it to
become theres? --- correct answers ---10 years through Adverse
Possession
If someone has a right to cross your property, this is called a(n)? ---
correct answers ---Easement
If a thing is crossing over your property, this is called a(n)? --- correct
answers ---Encroachment
If you buy materials from a supply house and fail to pay them, they
can file a? --- correct answers ---Mechanics Lien
How is an example of a formal legal description(FLD) ? --- correct
answers ---Metes and Bounds, Block and Lot, Section
,What is not a FLD? --- correct answers ---Street name and Street
address
Who determines what the commission will be on a real estate sale? ---
correct answers ---Client and Broker
If someone dies without having a valid will, this is called? --- correct
answers ---Intestate
If someone dies without having a valid will or heirs or creditors, that
persons property reverts to the state through a process called? ---
correct answers ---Escheat
What is the name of the standardized closing statement or settlement
statement, required by RESPA? --- correct answers ---HUD-1
What is a synonym for proration? --- correct answers ---Adjustment
What is the name of the deed that give the most legal promises to the
buyer? --- correct answers ---Convenant and Warranty Deed
What is it called to track back the successive owners of a piece of real
estate, starting with the current deed and working my way back? ---
correct answers ---Abstract of title(Chain of Title)
, the instrument that conveys a grantors interest in real property? ---
correct answers ---A deed
Who creates the real estate "Contract of Sale"? --- correct answers ---
Sellers Attorney
Who signs the contract first? --- correct answers ---Buyer
What does the buyer attach to the contract after signing it? --- correct
answers ---Down payment
Who holds the earnest deposit money from the buyer from the signing
of the contract until closing? --- correct answers ---The Sellers
Attorney
Who signs the contract last? --- correct answers ---The Seller
The fullest interest I can have in my ownership of realestate is? ---
correct answers ---Fee Simple Absolute
In a commercial environment it is understood that if you have
cabinets, refrigerators, etc that are leaving when the lease is over,
these are called? --- correct answers ---Trade Fixtures
Tenants in common is characterized by? --- correct answers ---Rights
of Inheritance
questions with verified detailed complete
answers newest 2025
When someone makes use of another's property? --- correct answers -
--Adverse Possession
For how many years must another use some one else property for it to
become theres? --- correct answers ---10 years through Adverse
Possession
If someone has a right to cross your property, this is called a(n)? ---
correct answers ---Easement
If a thing is crossing over your property, this is called a(n)? --- correct
answers ---Encroachment
If you buy materials from a supply house and fail to pay them, they
can file a? --- correct answers ---Mechanics Lien
How is an example of a formal legal description(FLD) ? --- correct
answers ---Metes and Bounds, Block and Lot, Section
,What is not a FLD? --- correct answers ---Street name and Street
address
Who determines what the commission will be on a real estate sale? ---
correct answers ---Client and Broker
If someone dies without having a valid will, this is called? --- correct
answers ---Intestate
If someone dies without having a valid will or heirs or creditors, that
persons property reverts to the state through a process called? ---
correct answers ---Escheat
What is the name of the standardized closing statement or settlement
statement, required by RESPA? --- correct answers ---HUD-1
What is a synonym for proration? --- correct answers ---Adjustment
What is the name of the deed that give the most legal promises to the
buyer? --- correct answers ---Convenant and Warranty Deed
What is it called to track back the successive owners of a piece of real
estate, starting with the current deed and working my way back? ---
correct answers ---Abstract of title(Chain of Title)
, the instrument that conveys a grantors interest in real property? ---
correct answers ---A deed
Who creates the real estate "Contract of Sale"? --- correct answers ---
Sellers Attorney
Who signs the contract first? --- correct answers ---Buyer
What does the buyer attach to the contract after signing it? --- correct
answers ---Down payment
Who holds the earnest deposit money from the buyer from the signing
of the contract until closing? --- correct answers ---The Sellers
Attorney
Who signs the contract last? --- correct answers ---The Seller
The fullest interest I can have in my ownership of realestate is? ---
correct answers ---Fee Simple Absolute
In a commercial environment it is understood that if you have
cabinets, refrigerators, etc that are leaving when the lease is over,
these are called? --- correct answers ---Trade Fixtures
Tenants in common is characterized by? --- correct answers ---Rights
of Inheritance
