OHIO REAL ESTATE COMPREHENSIVE EXAM 2026
QUESTIONS AND ANSWERS GRADED A+
✔✔Requirements of a Valid *Deed* - ✔✔1. Grantor's Signature
2. Identifiable Grantee
3. Words of Conveyance
4. Description
5. Consideration
6. Acknowledgment
7. Delivery & Acceptance.
✔✔Types of *Deeds* - ✔✔*Warranty Deeds*
-General Warranty Deed
-Limited Warranty Deed
*Deeds w/o Warranties*
-Quitclaim Deed
-Bargain & Sale Deed
-Fiduciary Deed
*Transfer on Death Deeds*
✔✔Marketable Title Act - ✔✔Is intended to improve the marketability of title and simplify
the title search process by extinguishing certain old, dormant clauses against a title.
*Goes back 40 Years*
✔✔Torrens System - ✔✔*To use this ____________ system:*
- A landowner registers his/her property w/the state ________ registrar.
- A careful title search & survey of the property are performed.
- The registrar issues a __________ certificate
- When the owner sells the property, he/she must surrender the duplicate certificate to
the registrar.
✔✔Equitable Right of Redemption - ✔✔The right of a defaulted property owner to
recover the property prior to its sale by paying the appropriate fees and charges.
✔✔Homestead Laws - ✔✔Laws designed to protect homeowner from forced sale of
home to satisfy certain debts. *In Ohio, homestead protection is very limited.* Only
$5,000 of the homeowner's interest in the property is exempt from foreclosure.
✔✔Costs for the Seller's Side - ✔✔- Mortgage
- Taxes (prorated)
- Commission to the Agent
- Deed Preparation
- Conveyance Fee ( $3 / $1000 )
, - Tax for the County
✔✔Costs for the Buyer's Side - ✔✔- Bank Fees
- Title Search
- Recording Fee
- Appraisal (?)
✔✔Items in the *Listing Packet* - ✔✔- Receipt of Consumer Guide to Agency
Relationships
- Exclusive Right to Sell Contract
- MOAR Lead-Based Paint Disclosure Form
- Residential Property Disclosure Form
- Addendum to Real Estate Listing Contract
- Home Warranty Contract
- Utility Information ( i.e., electric provider, gas, etc... )
- Release of Information / Mortgage Form
- WRIST Residential Profile Sheet
✔✔Items in the *Purchase Packet* - ✔✔- Receipt of Consumer Guide to Agency
Relationships
- Agency Disclosure Statement
- Real Estate Purchase Contract
- Contract to Purchase Real Estate Inspection Addendum
- Non-Realty Items Addendum to Contract
- Addendum to Purchase Real Estate Contract
- Release of Information / Mortgage Form
✔✔Uniqueness & Immobility - ✔✔These 2 characteristics of land have the most impact
on market value. They govern the way the market reacts to pressures of "supply &
demand".
✔✔Land
Real Estate
Real Property - ✔✔- Earth's surface to the center of the earth & the airspace above the
land, including the trees & water.
- All the above + human-made additions
- All the above (and what's above that) + "Bundle of Legal Rights"
✔✔ Equity - ✔✔Current Market Value - property debt = ________________?
QUESTIONS AND ANSWERS GRADED A+
✔✔Requirements of a Valid *Deed* - ✔✔1. Grantor's Signature
2. Identifiable Grantee
3. Words of Conveyance
4. Description
5. Consideration
6. Acknowledgment
7. Delivery & Acceptance.
✔✔Types of *Deeds* - ✔✔*Warranty Deeds*
-General Warranty Deed
-Limited Warranty Deed
*Deeds w/o Warranties*
-Quitclaim Deed
-Bargain & Sale Deed
-Fiduciary Deed
*Transfer on Death Deeds*
✔✔Marketable Title Act - ✔✔Is intended to improve the marketability of title and simplify
the title search process by extinguishing certain old, dormant clauses against a title.
*Goes back 40 Years*
✔✔Torrens System - ✔✔*To use this ____________ system:*
- A landowner registers his/her property w/the state ________ registrar.
- A careful title search & survey of the property are performed.
- The registrar issues a __________ certificate
- When the owner sells the property, he/she must surrender the duplicate certificate to
the registrar.
✔✔Equitable Right of Redemption - ✔✔The right of a defaulted property owner to
recover the property prior to its sale by paying the appropriate fees and charges.
✔✔Homestead Laws - ✔✔Laws designed to protect homeowner from forced sale of
home to satisfy certain debts. *In Ohio, homestead protection is very limited.* Only
$5,000 of the homeowner's interest in the property is exempt from foreclosure.
✔✔Costs for the Seller's Side - ✔✔- Mortgage
- Taxes (prorated)
- Commission to the Agent
- Deed Preparation
- Conveyance Fee ( $3 / $1000 )
, - Tax for the County
✔✔Costs for the Buyer's Side - ✔✔- Bank Fees
- Title Search
- Recording Fee
- Appraisal (?)
✔✔Items in the *Listing Packet* - ✔✔- Receipt of Consumer Guide to Agency
Relationships
- Exclusive Right to Sell Contract
- MOAR Lead-Based Paint Disclosure Form
- Residential Property Disclosure Form
- Addendum to Real Estate Listing Contract
- Home Warranty Contract
- Utility Information ( i.e., electric provider, gas, etc... )
- Release of Information / Mortgage Form
- WRIST Residential Profile Sheet
✔✔Items in the *Purchase Packet* - ✔✔- Receipt of Consumer Guide to Agency
Relationships
- Agency Disclosure Statement
- Real Estate Purchase Contract
- Contract to Purchase Real Estate Inspection Addendum
- Non-Realty Items Addendum to Contract
- Addendum to Purchase Real Estate Contract
- Release of Information / Mortgage Form
✔✔Uniqueness & Immobility - ✔✔These 2 characteristics of land have the most impact
on market value. They govern the way the market reacts to pressures of "supply &
demand".
✔✔Land
Real Estate
Real Property - ✔✔- Earth's surface to the center of the earth & the airspace above the
land, including the trees & water.
- All the above + human-made additions
- All the above (and what's above that) + "Bundle of Legal Rights"
✔✔ Equity - ✔✔Current Market Value - property debt = ________________?
