NJ REAL ESTATE EXAM 2 EXAM SCRIPT 2026
QUESTIONS WITH ANSWERS GRADED A+
◉ remainderman. Answer: a third party who would get the property
after the death of a life tenant
◉ life estate. Answer: limited to the life of a specific person
◉ reversionary interest. Answer: an owner's right to regain
possession of leased property upon termination of the lease
agreement
◉ dower. Answer: wife's interest in husband's real estate if
purchased before May 28, 1980
◉ curtesy. Answer: husband's interest in wife's real estate if
purchased before May 28, 1980
◉ encumbrance. Answer: claim, lien, charge or liability attached to
and binding on real property, it affects or limits its use, value or title
◉ lien. Answer: a financial claim against property that provides
security for a debt or obligation of the property owner
,◉ voluntary lien. Answer: created by the property owner
(mortgage)
◉ involuntary lien. Answer: financial claim against the property that
is imposed without the owner's consent (property taxes)
◉ general lien. Answer: affects ALL the property someone owns
◉ specific lien. Answer: placed on one parcel of real estate only
◉ priority. Answer: the order in which liens will be paid, real estate
taxes take priority over all others
◉ mortgage lien. Answer: voluntary lien on real estate given to a
lender by a borrower as security for a mortgage loan
◉ construction lien. Answer: placed against real estate by workers
who contributed labor or material and have not been paid aka
mechanics lien
◉ lis pendens. Answer: a notice of possible future legal action
against the property. recorded when a suit is filed that could
potentially affect title to a specified parcel of real estate
, ◉ easement. Answer: right acquired by one party to use the land of
another party for a particular purpose
◉ easement appurtenant. Answer: an easement that grants rights to
the owner of an adjacent parcel of land
◉ servient estate. Answer: the tract over which the easement runs
◉ dominant estate. Answer: the tract that benefits from the
easement
◉ easement in gross. Answer: simple right to use the land of others
(power lines, etc)
◉ easement by necessity. Answer: if the only access to the parcel is
another's
◉ easement by prescription. Answer: when someone has used
someone's land for a certain period of time as defined by state laws
(in NJ 20 years). Claimants use must have been continuous, hostile,
adverse to the owner's title, exclusive and without the owner's
approval. Must be visible, open and notorious
QUESTIONS WITH ANSWERS GRADED A+
◉ remainderman. Answer: a third party who would get the property
after the death of a life tenant
◉ life estate. Answer: limited to the life of a specific person
◉ reversionary interest. Answer: an owner's right to regain
possession of leased property upon termination of the lease
agreement
◉ dower. Answer: wife's interest in husband's real estate if
purchased before May 28, 1980
◉ curtesy. Answer: husband's interest in wife's real estate if
purchased before May 28, 1980
◉ encumbrance. Answer: claim, lien, charge or liability attached to
and binding on real property, it affects or limits its use, value or title
◉ lien. Answer: a financial claim against property that provides
security for a debt or obligation of the property owner
,◉ voluntary lien. Answer: created by the property owner
(mortgage)
◉ involuntary lien. Answer: financial claim against the property that
is imposed without the owner's consent (property taxes)
◉ general lien. Answer: affects ALL the property someone owns
◉ specific lien. Answer: placed on one parcel of real estate only
◉ priority. Answer: the order in which liens will be paid, real estate
taxes take priority over all others
◉ mortgage lien. Answer: voluntary lien on real estate given to a
lender by a borrower as security for a mortgage loan
◉ construction lien. Answer: placed against real estate by workers
who contributed labor or material and have not been paid aka
mechanics lien
◉ lis pendens. Answer: a notice of possible future legal action
against the property. recorded when a suit is filed that could
potentially affect title to a specified parcel of real estate
, ◉ easement. Answer: right acquired by one party to use the land of
another party for a particular purpose
◉ easement appurtenant. Answer: an easement that grants rights to
the owner of an adjacent parcel of land
◉ servient estate. Answer: the tract over which the easement runs
◉ dominant estate. Answer: the tract that benefits from the
easement
◉ easement in gross. Answer: simple right to use the land of others
(power lines, etc)
◉ easement by necessity. Answer: if the only access to the parcel is
another's
◉ easement by prescription. Answer: when someone has used
someone's land for a certain period of time as defined by state laws
(in NJ 20 years). Claimants use must have been continuous, hostile,
adverse to the owner's title, exclusive and without the owner's
approval. Must be visible, open and notorious
