New Jersey Real Estate Exam- Key Terms 73 Test Question Review With Correct Answers |D0wnload to score A+

Abandonment - ️️The voluntary surrender or relinquishment of possession of real property without the vesting of this interest in any other person. Abstract of Title - ️️The condensed history of a title to a particular parcel of real estate. Abstract of title with lawyer's opinion - ️️An abstract of title that a lawyer has examined and has certified to be, in his or her opinion, an accurate statement of fact. Acceleration clause - ️️The clause in a note or mortgage that can be enforced to make the entire debt due immediately if the mortgagor defaults. Accretion - ️️The increase or addition of land by the deposit of sand or soil washed up naturally from a river, lake, or sea. Accrued Items - ️️On a closing statement, items of expense that have been incurred but are not yet payable, such as interest on a mortgage loan. Acknowledgment - ️️A formal declaration made before a duly authorized officer, usually a notary public, by a person who has signed a document. Acre - ️️A measure of land equal to 43,560 square feet; 4,840 square yards; 4,047 square meters; or 160 square rods. Actual Eviction - ️️Action whereby a defaulted tenant is physically ousted from rented property pursuant to a court order.