PSI PA STATE REAL ESTATE 2026 ALL TESTED
QUESTIONS AND ANSWERS SURE A+
✔✔In lieu of a nonowning spouse's signature intends to ensure that the title would not
be clouded by claims in a property settlement. - ✔✔Affidavit of no pending domestic
litigation
✔✔Confers authority for the agent to act notwithstanding the principal's disability or
incapacity - ✔✔Power of Attorney
✔✔Acknowledgement - ✔✔In Pennsylvania, an unacknowledged deed is not eligible for
recording. An unrecorded deed is valid between the grantor and the grantee, but it may
not be a valid conveyance (to secure good title) against claims by subsequent innocent
purchasers.
✔✔Realty Transfer Tax - ✔✔In Pennsylvania, a state transfer tax, currently 1 percent, is
imposed on the full consideration paid for the real estate. In addition, state law also
permits local taxing districts (city, borough, township, and school district) to impose a
transfer tax. Local transfer taxes are generally 1 percent of the consideration, though
municipalities with a "Home Rule Charter Government" are permitted to charge more
✔✔Transfer of Title by Will - ✔✔Pennsylvania law states that a person must be of legal
age (18) and sound mind. To demonstrate sound mind, the testator must have sufficient
, mental capacity to understand the nature and extent of the property owned. A testator
must understand the identity of his or her natural heirs and that the property will go to
those persons named in the will. The drawing of a will must be a voluntary act, free of
any undue influence by other people
✔✔a document must be in writing and properly executed (signed). Persons unable to
place their signatures on a document may sign by mark in a manner that complies with
statutory requirements. The document also must be acknowledged before a notary
public. Public record offices may have specific rules about the size of documents and
the paper they are printed on. Because an increasing number of public records are
managed electronically, the actual filing of documents is more likely to be accomplished
by e-mail attachment or electronic fax than in person. - ✔✔Recording
✔✔Evidence that title is, in fact, marketable. Customarily, in Pennsylvania, a certificate
of title or title insurance is used as proof of ownership - ✔✔Proof of Ownership
✔✔The Pennsylvania State Real Estate Commission's Rules and Regulations require
that a real estate broker representing a party to a transaction must ensure that all
contracts are in writing. - ✔✔Statute of Frauds
✔✔State law limits the time within which parties to a contract may bring legal suit to
enforce their rights. In Pennsylvania, it is four years from the date the contract is
breached. Any rights that are not enforced within the applicable time period are lost. -
✔✔Statute of Limitations
✔✔Penalty for providing legal advice unless properly licensed to do so - ✔✔Up to one-
year imprisonment and a $2,500 fine. Also, the State Real Estate Commission can take
disciplinary action against licensees who provide legal advice, resulting in a fine, or the
suspension or revocation of a license. Finally, a party who is injured by the advice can
file a lawsuit, which can result in an award of monetary damages against the individual
who provided that advice.
✔✔Plain Language Consumer Contract Act in Pennsylvania - ✔✔Intends to protect
consumers from making contracts they do not understand by promoting the use of plain
language. Agreements that must be written in plain language include contracts in which
a consumer
-borrows money;
buys, leases, or rents personal property or real property; and
-engages services for cash or on credit for personal, family, or household purposes.
Any creditor, lessor, or seller who does not comply with the tests of readability (as
defined by the law) is liable to the consumer for any loss caused by the violation,
statutory damages of up to $100, court costs, and attorney fees
QUESTIONS AND ANSWERS SURE A+
✔✔In lieu of a nonowning spouse's signature intends to ensure that the title would not
be clouded by claims in a property settlement. - ✔✔Affidavit of no pending domestic
litigation
✔✔Confers authority for the agent to act notwithstanding the principal's disability or
incapacity - ✔✔Power of Attorney
✔✔Acknowledgement - ✔✔In Pennsylvania, an unacknowledged deed is not eligible for
recording. An unrecorded deed is valid between the grantor and the grantee, but it may
not be a valid conveyance (to secure good title) against claims by subsequent innocent
purchasers.
✔✔Realty Transfer Tax - ✔✔In Pennsylvania, a state transfer tax, currently 1 percent, is
imposed on the full consideration paid for the real estate. In addition, state law also
permits local taxing districts (city, borough, township, and school district) to impose a
transfer tax. Local transfer taxes are generally 1 percent of the consideration, though
municipalities with a "Home Rule Charter Government" are permitted to charge more
✔✔Transfer of Title by Will - ✔✔Pennsylvania law states that a person must be of legal
age (18) and sound mind. To demonstrate sound mind, the testator must have sufficient
, mental capacity to understand the nature and extent of the property owned. A testator
must understand the identity of his or her natural heirs and that the property will go to
those persons named in the will. The drawing of a will must be a voluntary act, free of
any undue influence by other people
✔✔a document must be in writing and properly executed (signed). Persons unable to
place their signatures on a document may sign by mark in a manner that complies with
statutory requirements. The document also must be acknowledged before a notary
public. Public record offices may have specific rules about the size of documents and
the paper they are printed on. Because an increasing number of public records are
managed electronically, the actual filing of documents is more likely to be accomplished
by e-mail attachment or electronic fax than in person. - ✔✔Recording
✔✔Evidence that title is, in fact, marketable. Customarily, in Pennsylvania, a certificate
of title or title insurance is used as proof of ownership - ✔✔Proof of Ownership
✔✔The Pennsylvania State Real Estate Commission's Rules and Regulations require
that a real estate broker representing a party to a transaction must ensure that all
contracts are in writing. - ✔✔Statute of Frauds
✔✔State law limits the time within which parties to a contract may bring legal suit to
enforce their rights. In Pennsylvania, it is four years from the date the contract is
breached. Any rights that are not enforced within the applicable time period are lost. -
✔✔Statute of Limitations
✔✔Penalty for providing legal advice unless properly licensed to do so - ✔✔Up to one-
year imprisonment and a $2,500 fine. Also, the State Real Estate Commission can take
disciplinary action against licensees who provide legal advice, resulting in a fine, or the
suspension or revocation of a license. Finally, a party who is injured by the advice can
file a lawsuit, which can result in an award of monetary damages against the individual
who provided that advice.
✔✔Plain Language Consumer Contract Act in Pennsylvania - ✔✔Intends to protect
consumers from making contracts they do not understand by promoting the use of plain
language. Agreements that must be written in plain language include contracts in which
a consumer
-borrows money;
buys, leases, or rents personal property or real property; and
-engages services for cash or on credit for personal, family, or household purposes.
Any creditor, lessor, or seller who does not comply with the tests of readability (as
defined by the law) is liable to the consumer for any loss caused by the violation,
statutory damages of up to $100, court costs, and attorney fees
