MA REAL ESTATE CERTIFIED QUALITY EXAM GUARANTEED PASS
LATEST 2025/26 (A COMPLETE COMPREHENSIVE STUDY GUIDE
OF GENERAL REAL ESTATE TERMINOLOGY WITH CROSS-
REFERENCES AS TO HOW THOSE TERMS ARE APPLIED IN THE
STATE OF MASSACHUSETTS) 400+ QUESTIONS AND ANSWERS
ALREADY GRADED A+.
Binder - --ANSWERS---a shorter version of a sales agreement,
which upon the seller's acceptance, will be given to an attorney
to create a more formal agreement. Also known as an "offer to
purchase".
Contingencies - --ANSWERS---conditions that must be met
before a contract is binding. The most common conditions are
the buyer's ability to obtain suitable financing, a satisfactory
property inspection, and the ability to obtain adequate insurance
on the property.
Multiple listing service - --ANSWERS---an organization of
member brokers that agree to share information about their
listings to procure a ready, willing, and able buyer more quickly.
Members also agree to split commissions between the listing
and selling brokers upon sale of the property.
Exculpatory clauses - --ANSWERS---items that excuse a
landlord for any negligence in maintaining a leased property.
These items are illegal in massachusetts.
Foreclosure act of 2009 - --ANSWERS---a law that states tenets
can remain in a property that has been foreclosed upon for the
remainder of their lease or 90 days, whichever is longer.
,Constructive eviction - --ANSWERS---occurs when a tenet
terminates their lease because a landlord's neglect has made the
property uninhabitable. In order to be enforceable, the tenet
must vacate the premises in order to prove uninhabitability.
Americans with disabilities act - --ANSWERS---a law that states
any buildings that provide public goods or services must be free
of architectural barriers that would impede access to disabled
persons.
Externalities - --ANSWERS---forces outside of a property that
affect its value. These forces can be physical, political, economic,
or social in nature.
Salvage value - --ANSWERS---the worth of an asset after it has
been depreciated.
Assemblage - --ANSWERS---the process of merging adjacent
parcels into a single, larger parcel.
Functional obsolescence - --ANSWERS---this results when
depreciation of property is the result of outdated function or poor
design. If easily remedied, then it is considered curable. If design
constraints prevent remedy, then it is incurable. Ex: not enough
bathrooms, lack of a laundry area, inadequate electrical system,
etc.
Depreciation - --ANSWERS---any condition that negatively
affects the value of an improvement or personal property. There
are three classes: physical deterioration, functional
obsolescence, and external (economic) obsolescence.
,Index - --ANSWERS---a financial indicator upon which the
interest rate of a mortgage loan or note is based.
Monuments - --ANSWERS---fixed objects that are used to
establish real estate boundaries, typically in a metes and bounds
formal legal description. They may be natural (trees, lakes, etc.)
Or artificial (fences, posts, etc.).
Ad valorem taxes - --ANSWERS---taxes that are based upon the
value of the specific property being taxed.
Equitable right of redemption - --ANSWERS---a property
owner's right to prevent a foreclosure or tax sale on their
property by bringing the delinquent balances current, including
any interest and fees.
Statutory right of redemption - --ANSWERS---a period of time
after a tax sale in which the defaulted owner may reclaim the
property by paying the purchaser of the property the full amount
paid, along with any interest and fees. In massachusetts, this
time period is six months from the date of sale.
Special assessments - --ANSWERS---a type of property tax
applied to properties within a limited and determinable area, to
offset the cost of providing those same properties with an
advantage or betterment. Ex: taxing a neighborhood for sidewalk
improvements done in their area. Also known as an
improvement tax.
6d certificate - --ANSWERS---if the sale property is a
condominium, this document states the amount the seller owes
in condominium fees and is used to establish if the unit is free of
, association fee liens. In massachusetts, this document is
required at the time of closing.
Title 5 - --ANSWERS---an inspection of private, on-site sewage
disposal systems, often required in title transfers. Correction of
a defective septic system may be required prior to a property
being eligible for some mortgages.
Abandonment - --ANSWERS---a listing agent is considered to
have performed this act if they have invested neither time nor
money to market a property.
Acceptance - --ANSWERS---before a title transfer can become
effective, the deed must be delivered by the grantor, and the
grantee must perform this act either actually or by implication.
Abstract of title - --ANSWERS---a condensed history of a
property's title, including the original grant and any subsequent
conveyances and encumbrances affecting the property and
certification by the preparer that the history is complete and
accurate.
Adverse possession - --ANSWERS---the loss of land to another
person that has taken possession and used it without the
owner's permission for an extended period of time as defined by
state law (20 years in ma). This is a form of involuntary
alienation.
Special performance suit - --ANSWERS---a transfer of title
ordered by a court to transfer property to a buyer as promised in
a previous contract. It may be done to satisfy a debt.
LATEST 2025/26 (A COMPLETE COMPREHENSIVE STUDY GUIDE
OF GENERAL REAL ESTATE TERMINOLOGY WITH CROSS-
REFERENCES AS TO HOW THOSE TERMS ARE APPLIED IN THE
STATE OF MASSACHUSETTS) 400+ QUESTIONS AND ANSWERS
ALREADY GRADED A+.
Binder - --ANSWERS---a shorter version of a sales agreement,
which upon the seller's acceptance, will be given to an attorney
to create a more formal agreement. Also known as an "offer to
purchase".
Contingencies - --ANSWERS---conditions that must be met
before a contract is binding. The most common conditions are
the buyer's ability to obtain suitable financing, a satisfactory
property inspection, and the ability to obtain adequate insurance
on the property.
Multiple listing service - --ANSWERS---an organization of
member brokers that agree to share information about their
listings to procure a ready, willing, and able buyer more quickly.
Members also agree to split commissions between the listing
and selling brokers upon sale of the property.
Exculpatory clauses - --ANSWERS---items that excuse a
landlord for any negligence in maintaining a leased property.
These items are illegal in massachusetts.
Foreclosure act of 2009 - --ANSWERS---a law that states tenets
can remain in a property that has been foreclosed upon for the
remainder of their lease or 90 days, whichever is longer.
,Constructive eviction - --ANSWERS---occurs when a tenet
terminates their lease because a landlord's neglect has made the
property uninhabitable. In order to be enforceable, the tenet
must vacate the premises in order to prove uninhabitability.
Americans with disabilities act - --ANSWERS---a law that states
any buildings that provide public goods or services must be free
of architectural barriers that would impede access to disabled
persons.
Externalities - --ANSWERS---forces outside of a property that
affect its value. These forces can be physical, political, economic,
or social in nature.
Salvage value - --ANSWERS---the worth of an asset after it has
been depreciated.
Assemblage - --ANSWERS---the process of merging adjacent
parcels into a single, larger parcel.
Functional obsolescence - --ANSWERS---this results when
depreciation of property is the result of outdated function or poor
design. If easily remedied, then it is considered curable. If design
constraints prevent remedy, then it is incurable. Ex: not enough
bathrooms, lack of a laundry area, inadequate electrical system,
etc.
Depreciation - --ANSWERS---any condition that negatively
affects the value of an improvement or personal property. There
are three classes: physical deterioration, functional
obsolescence, and external (economic) obsolescence.
,Index - --ANSWERS---a financial indicator upon which the
interest rate of a mortgage loan or note is based.
Monuments - --ANSWERS---fixed objects that are used to
establish real estate boundaries, typically in a metes and bounds
formal legal description. They may be natural (trees, lakes, etc.)
Or artificial (fences, posts, etc.).
Ad valorem taxes - --ANSWERS---taxes that are based upon the
value of the specific property being taxed.
Equitable right of redemption - --ANSWERS---a property
owner's right to prevent a foreclosure or tax sale on their
property by bringing the delinquent balances current, including
any interest and fees.
Statutory right of redemption - --ANSWERS---a period of time
after a tax sale in which the defaulted owner may reclaim the
property by paying the purchaser of the property the full amount
paid, along with any interest and fees. In massachusetts, this
time period is six months from the date of sale.
Special assessments - --ANSWERS---a type of property tax
applied to properties within a limited and determinable area, to
offset the cost of providing those same properties with an
advantage or betterment. Ex: taxing a neighborhood for sidewalk
improvements done in their area. Also known as an
improvement tax.
6d certificate - --ANSWERS---if the sale property is a
condominium, this document states the amount the seller owes
in condominium fees and is used to establish if the unit is free of
, association fee liens. In massachusetts, this document is
required at the time of closing.
Title 5 - --ANSWERS---an inspection of private, on-site sewage
disposal systems, often required in title transfers. Correction of
a defective septic system may be required prior to a property
being eligible for some mortgages.
Abandonment - --ANSWERS---a listing agent is considered to
have performed this act if they have invested neither time nor
money to market a property.
Acceptance - --ANSWERS---before a title transfer can become
effective, the deed must be delivered by the grantor, and the
grantee must perform this act either actually or by implication.
Abstract of title - --ANSWERS---a condensed history of a
property's title, including the original grant and any subsequent
conveyances and encumbrances affecting the property and
certification by the preparer that the history is complete and
accurate.
Adverse possession - --ANSWERS---the loss of land to another
person that has taken possession and used it without the
owner's permission for an extended period of time as defined by
state law (20 years in ma). This is a form of involuntary
alienation.
Special performance suit - --ANSWERS---a transfer of title
ordered by a court to transfer property to a buyer as promised in
a previous contract. It may be done to satisfy a debt.
