Real Estate Prep
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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Property | show 🗑
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Ownership | show 🗑
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Allodial System | show 🗑
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Estate in Land | show 🗑
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Eminent Domain | show 🗑
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show | The Process used to acquire property under the right of eminent domain
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show | The Right of the state to assume ownership of property when the owner dies without a valid will or it's abandon
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show | Personal Property that is permanently attached to real property so it is considered part of that real property
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Fixture (Three ways to make personal property into a fixture) | show 🗑
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Emblements | show 🗑
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show | A Right, Privilege, or improvement associated with land. Parking spot
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show | Personal Property Only
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Chattel Real | show 🗑
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Fee Simple Defeasible | show 🗑
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show | A Freehold estate that is not normally inheritable
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Estates less than a freehold | show 🗑
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Reversion Interest | show 🗑
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Estate in Severality | show 🗑
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Joint Tenancy | show 🗑
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show | Each Spouse has an equal interest in property acquired during a marriage. Not recognized in Florida
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Tenancy by the Entirety | show 🗑
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show | The Process of separating a concurrent ownership
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Partition in Kind | show 🗑
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show | 30% of the net estate
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Homestead tax exemption | show 🗑
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Easement | show 🗑
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Easement Apurtenant | show 🗑
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show | An Easement that Affects only one property, Only a Servient estate
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show | An easement in gross held by an individual that can be terminated by sale or death but can not be revoked
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show | A written agreement between a landowner and easement holder
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show | An Easement created by continuous, uninterrupted, hostile possession
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Easement [PoPCoRN] | show 🗑
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Quitclaim deed | show 🗑
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Termination by abandonment | show 🗑
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Termination by vacation | show 🗑
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show | Made by the courts and attaches to both real and personal property
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show | After a judgment lien, A sheriff is directed to sell the property
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show | The Legislation which establishes priority of liens in most states
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Lien Priority | show 🗑
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Title | show 🗑
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show | A Summary of all instruments affecting title and all encumbrances affecting the title
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show | A Title which is free of reasonable doubt as to ownership
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show | Inspect the property and check the public records
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Actual Notice | show 🗑
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show | File for a quiet title action and the status and condition is determined by the courts. Only has the current owner. Any encumbrances to a title must be entered on the certificate of title
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Title Insurance | show 🗑
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Deed | show 🗑
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Statue of Frauds | show 🗑
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Bill of Sale | show 🗑
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show | The act of transferring ownership with a deed
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show | The Party who transfers a deed. Delivers the deed within their lifetime
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Grantee | show 🗑
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show | The Granting clause of the deed
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show | An optional part of a deed that tells the extent of interest transferred
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General Warranty | show 🗑
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show | The Grantor owns the property and has the right to convey
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show | Grantee's ownership will not be challenged by the claims of others
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show | Assures that the Grantor will bear the expense of defending the title against the claims
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Special Warranty Deed | show 🗑
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Bargain and sale deed | show 🗑
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Quitclaim Deed | show 🗑
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show | Different types of estates convey different amounts of ttle
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Deed [2] | show 🗑
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show | A valid will
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show | A decedent that leaves a valid will
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Devise | show 🗑
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show | A decedent who conveys real property in a will
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show | A Gift of personal property
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Distributees | show 🗑
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Laws of Succession | show 🗑
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Executor | show 🗑
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Ground Lease | show 🗑
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show | Lease is lower in the beginning to attract customers and then increases. Also called a step-up lease
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show | Increases based of economic factors and anything found in The escalation clause
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show | The amount of rent that could be obtained for a property on the open market if available
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show | The transfer of ALL right that a tenant holds in a leased property. But still has the secondary liability
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show | The Largest unit of measurement in a subvision
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Metes and bounds Method | show 🗑
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show | is a precisely identified location using longitude and latitude which serves as a reference point for starting a land survey. AKA Benchmarks
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show | The largest unit of measurement in the government rectangular survey system. Measures 6 miles and made from 36 sections
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Range | show 🗑
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Tier | show 🗑
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show | The Area of a section is 640 Acres
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show | Consideration, agreement, legally competent, legal consideration
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Valuable consideration | show 🗑
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show | Worth promised in a contract that doesn't have a monetary value
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Florida Real Estate Commission | show 🗑
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Florida Division of Real Estate | show 🗑
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The Civil Rights Act of 1866 | show 🗑
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show | Covers discrimination in the sale or lease of certain types of real property to the whole gambit of people. Applies to All siingle Family residence owned by businesses. File complaint with HUD, District Court , U.S attorney general
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show | Extends anti-discrimination coverage to the handicapped and family with kids. Max fine up to 50,000
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Promissory note | show 🗑
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show | Allows the lender to demand full and immediate payment if the borrower fails to meet all terms of the note
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Escalation clause | show 🗑
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Hypothecation | show 🗑
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Title Theory | show 🗑
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Lien theory | show 🗑
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show | The borrower in a mortgage instrument
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Mortgagee | show 🗑
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Granting Clause | show 🗑
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show | The clause in a mortgage
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show | Permits the lender to call in the note i the mortgagor transfers the property for the purpose of preventing assumption of a loan
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Certificate of estoppel | show 🗑
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show | A clause in a mortgage which waives a priority of recordination
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Statutory redemption | show 🗑
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show | Sometimes used instead of a mortgage and the title is held by the trustee. It held the reconveyance and power of sale clauses
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What is the point of The Agency Disclosure Agreement | show 🗑
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show | At the 1st substantive contact
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show | Pre-1978
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When are window guards mandatory for city dwellings | show 🗑
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show | It governs subdivision
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What is Article 12-A | show 🗑
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show | It is a defect that is not discover-able by reasonable inspection and must be disclosed
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show | They are appointed
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What is the Master Plan | show 🗑
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What is another name for master plan | show 🗑
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show | A Halt on construction
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What is Article 78 | show 🗑
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show | How much waste water the soil can process
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show | The number of bedrooms
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What is the length of a an independent contract | show 🗑
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show | Personal Property
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Estates in Land - Freehold | show 🗑
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show | One Owner
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If tenancy in common people die who gets there interest in the property | show 🗑
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Tenant by Entirety | show 🗑
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show | The right or interest in a property
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When does a mechanics lien have to be filed | show 🗑
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Affidavit of entitlement | show 🗑
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How long are Judgements good for | show 🗑
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show | A written instrument that conveys title
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show | Mete and Bounds or a reference plot number.
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which kind of deed offers the greatest protection | show 🗑
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What is a warranty deed | show 🗑
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show | The Bargain and sales deed with conventants
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show | A quitclaim deed
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show | NY Department if State
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show | Honest dealings
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What is a universal agent | show 🗑
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What is an example of a general agent | show 🗑
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show | Special Agent
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show | Care and Confidentiality
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show | Loyalty
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What is the O in CCLOAD | show 🗑
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show | Accounting
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What is D in cc Load | show 🗑
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What is the best listing for a broker | show 🗑
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If a seller does not give the buyer a written disclosure of the property condition statement, what is the buyer entitled too | show 🗑
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show | Chattel
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What is the difference between a a fee simple estate and a life estate | show 🗑
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show | Encumbrances
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show | 30 Percent
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What is a surety bond | show 🗑
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The taxes made before exemptions are subtracted is known as the | show 🗑
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What is the equalization factor | show 🗑
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Created by:
bswdimples
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