California Real Estate 2026
Expert Verifed Ace the Test
Abandonment - ANSWER ✔✔Giving up possession or ownership of
property by nonuse, usually accompanied by some affirmative act, such
as removing one's belongings from apartment
ingress and egress (right of) - ANSWER ✔✔The permission to enter
upon and exit from property. A form of easement. Often related to
Streams
Abstract of Judgement - ANSWER ✔✔Document stipulating the
outcome of a legal action, which can be filed in any county where the
judgement debtor has property.
,Abstract of Title - ANSWER ✔✔A summary or digest of all recorded
transfers, conveyances, legal proceedings, and any other facts relied on
as evidence of title to show continuity of ownership and indicate any
possible impairments to title
Acceleration Clause - ANSWER ✔✔A provision in a real estate
financing instrument that allows the lender to declare the remaining
indebtedness due and payable on the happening of certain conditions,
such as the sale of the property or the borrower's default in payment
Acceptance - ANSWER ✔✔Indication by the person to whom an offer
is made (the offeree) of agreement to the terms of the offer. If the offer
requires a writing, the acceptance must also be in writing.
Accession - ANSWER ✔✔The process of manufactured or natural
improvement or addition to property.
Accounting - ANSWER ✔✔The obligation to account for all money or
property belonging to the principal
Accretion - ANSWER ✔✔Accession by natural forces, e.g., alluvium.
Acknowledgement - ANSWER ✔✔A formal declaration made before
an authorized person by a person who has executed a written
,instrument, stating that the execution of the instrument is the person's
own act
Acquisition Cost - ANSWER ✔✔For FHA-insured loans, the price to
procure property, including purchase price and all nonrecurring closing
costs, including discount points, FHA application fee, service charge and
credit report, FHA appraisal, escrow, document preparation, title
insurance, termite inspection, reconveyance, and recording fees
Acre - ANSWER ✔✔A measure of land equal to 43,560 square feet,
160 Rods, 4,840 Square yards, or a tract about 208.71 feet square
Action for Declaratory Relief - ANSWER ✔✔Legal proceeding
brought to determine the respective rights of the parties before a
controversy arises
Action to a Quiet Title - ANSWER ✔✔A court proceeding brought to
establish title to real property
Actual Age - ANSWER ✔✔The number of years since completion of a
building; also called historical or chronological age
Actual Authority - ANSWER ✔✔The authority an agent has because it
is specified in the agency agreement, or that the agent believes he or
she has because of an unintentional or a careless act of principal
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, Actual Fraud - ANSWER ✔✔A deliberate misrepresentation or a
representation made in reckless disregard of its truth or falsity; the
suppression of truth; a promise made without the intention to perform it;
or any other act intended to deceive.
Adjustable Rate Mortgage (ARM) - ANSWER ✔✔Finance instrument
whose interest rate will vary according to the change in an identified
index or rate, such as the 11th District Cost of Funds.
Adjustable Rate Note - ANSWER ✔✔Promissory note that serves as
evidence of a debt that carries an interest rate that will vary according to
the change in an identified index or rate, such as the 11th District Cost of
Funds.
Adjusted Cost Basis - ANSWER ✔✔Purchase price of property plus
cost of specified improvements, less any depreciation deductions taken
on the property
Adjusted Gross Income - ANSWER ✔✔Income from all sources less
deductions for taxes, depreciation, and other allowable deductions
Administrator - ANSWER ✔✔The personal representative of the
estate appointed by the probate court.
Expert Verifed Ace the Test
Abandonment - ANSWER ✔✔Giving up possession or ownership of
property by nonuse, usually accompanied by some affirmative act, such
as removing one's belongings from apartment
ingress and egress (right of) - ANSWER ✔✔The permission to enter
upon and exit from property. A form of easement. Often related to
Streams
Abstract of Judgement - ANSWER ✔✔Document stipulating the
outcome of a legal action, which can be filed in any county where the
judgement debtor has property.
,Abstract of Title - ANSWER ✔✔A summary or digest of all recorded
transfers, conveyances, legal proceedings, and any other facts relied on
as evidence of title to show continuity of ownership and indicate any
possible impairments to title
Acceleration Clause - ANSWER ✔✔A provision in a real estate
financing instrument that allows the lender to declare the remaining
indebtedness due and payable on the happening of certain conditions,
such as the sale of the property or the borrower's default in payment
Acceptance - ANSWER ✔✔Indication by the person to whom an offer
is made (the offeree) of agreement to the terms of the offer. If the offer
requires a writing, the acceptance must also be in writing.
Accession - ANSWER ✔✔The process of manufactured or natural
improvement or addition to property.
Accounting - ANSWER ✔✔The obligation to account for all money or
property belonging to the principal
Accretion - ANSWER ✔✔Accession by natural forces, e.g., alluvium.
Acknowledgement - ANSWER ✔✔A formal declaration made before
an authorized person by a person who has executed a written
,instrument, stating that the execution of the instrument is the person's
own act
Acquisition Cost - ANSWER ✔✔For FHA-insured loans, the price to
procure property, including purchase price and all nonrecurring closing
costs, including discount points, FHA application fee, service charge and
credit report, FHA appraisal, escrow, document preparation, title
insurance, termite inspection, reconveyance, and recording fees
Acre - ANSWER ✔✔A measure of land equal to 43,560 square feet,
160 Rods, 4,840 Square yards, or a tract about 208.71 feet square
Action for Declaratory Relief - ANSWER ✔✔Legal proceeding
brought to determine the respective rights of the parties before a
controversy arises
Action to a Quiet Title - ANSWER ✔✔A court proceeding brought to
establish title to real property
Actual Age - ANSWER ✔✔The number of years since completion of a
building; also called historical or chronological age
Actual Authority - ANSWER ✔✔The authority an agent has because it
is specified in the agency agreement, or that the agent believes he or
she has because of an unintentional or a careless act of principal
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, Actual Fraud - ANSWER ✔✔A deliberate misrepresentation or a
representation made in reckless disregard of its truth or falsity; the
suppression of truth; a promise made without the intention to perform it;
or any other act intended to deceive.
Adjustable Rate Mortgage (ARM) - ANSWER ✔✔Finance instrument
whose interest rate will vary according to the change in an identified
index or rate, such as the 11th District Cost of Funds.
Adjustable Rate Note - ANSWER ✔✔Promissory note that serves as
evidence of a debt that carries an interest rate that will vary according to
the change in an identified index or rate, such as the 11th District Cost of
Funds.
Adjusted Cost Basis - ANSWER ✔✔Purchase price of property plus
cost of specified improvements, less any depreciation deductions taken
on the property
Adjusted Gross Income - ANSWER ✔✔Income from all sources less
deductions for taxes, depreciation, and other allowable deductions
Administrator - ANSWER ✔✔The personal representative of the
estate appointed by the probate court.
