WRA Pre Exam Review Questions and
Answers 100% Solved | Graded A+
What rights to property come with ownership? - ✔✔Control; Disposition;
Quiet enjoyment; Encumber; Exclude; Possession.
What form of ownership allows title to a deceased spouse's property to
pass to the surviving spouse without probate? - ✔✔Survivorship marital
property. A special form of joint tenancy with right of survivorship. Just for
married people.
What are some examples of encumbrances? - ✔✔Easement; Liens;
Encroachments; Property taxes and Special assessments.
What type of interest is a leasehold estate? - ✔✔Personal property interest.
In what form of ownership does a condominium unit owner hold the
condominium unit? - ✔✔Severalty
In what form of ownership does a condominium unit owner hold the
common elements? - ✔✔Tenancy-in-common
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,Under what form of ownership does an individual purchase stock in a
corporation and receive a lease for a unit from the corporation? -
✔✔Cooperative
What kind of estate do you have if you own your home, even if it is subject
to a mortgage? - ✔✔It is a fee simple absolute, which is a kind of freehold
estate.
Which type of property is automatically included in the purchase of real
estate? - ✔✔Real property (land, structures, fixture) Trees, buildings, etc.
Personal property is only included if the parties include it in the accepted
offer to purchase.
What is achieved by recording a deed to property? - ✔✔Constructive notice
of ownership.
How does title insurance serve as evidence of title? - ✔✔It is an insurance
policy to protect the policy holder from defects in title.
What protection does an abstract of title provide to a property owner? -
✔✔An abstract of title does not provide coverage for gaps in title or clouds
on title.
What is a gap endorsement (gap insurance)? - ✔✔It protects the property
owner from clouds or claims on the title that might appear between the date
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, of the title commitment and the date the deed showing the new owner is
recorded (the gap). The title commitment is also called the preliminary
report.
What type of lien attaches to both real and personal property? - ✔✔General
lien. A specific lien attaches only to the property securing the debt. A
chattel mortgage is an example of a specific lien - "chattel mortgage " is an
old-fashioned term for a mortgage on personal property such as a car loan
secured by the car.
Which deed offers the most comprehensive guarantee of title? -
✔✔Warranty deed.
Which deed offers the least guarantee of title? - ✔✔Quit claim deed.
Land Use Controls and Regulations - 5 items. - ✔✔Private land use
controls: Restrictions, Deed Conditions, Covenants. Public Controls of
Permitted Use, Conditional Use, Non-conformingUse, Variance, Setbacks
(Zoning). PUDS (Planned Unit Development).
How does one determine the permitted uses for a particular area? -
✔✔Zoning ordinances, many municipalities post their zoning ordinances
online, contact the local zoning authority for more information on zoning
ordinances.
3
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
Answers 100% Solved | Graded A+
What rights to property come with ownership? - ✔✔Control; Disposition;
Quiet enjoyment; Encumber; Exclude; Possession.
What form of ownership allows title to a deceased spouse's property to
pass to the surviving spouse without probate? - ✔✔Survivorship marital
property. A special form of joint tenancy with right of survivorship. Just for
married people.
What are some examples of encumbrances? - ✔✔Easement; Liens;
Encroachments; Property taxes and Special assessments.
What type of interest is a leasehold estate? - ✔✔Personal property interest.
In what form of ownership does a condominium unit owner hold the
condominium unit? - ✔✔Severalty
In what form of ownership does a condominium unit owner hold the
common elements? - ✔✔Tenancy-in-common
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,Under what form of ownership does an individual purchase stock in a
corporation and receive a lease for a unit from the corporation? -
✔✔Cooperative
What kind of estate do you have if you own your home, even if it is subject
to a mortgage? - ✔✔It is a fee simple absolute, which is a kind of freehold
estate.
Which type of property is automatically included in the purchase of real
estate? - ✔✔Real property (land, structures, fixture) Trees, buildings, etc.
Personal property is only included if the parties include it in the accepted
offer to purchase.
What is achieved by recording a deed to property? - ✔✔Constructive notice
of ownership.
How does title insurance serve as evidence of title? - ✔✔It is an insurance
policy to protect the policy holder from defects in title.
What protection does an abstract of title provide to a property owner? -
✔✔An abstract of title does not provide coverage for gaps in title or clouds
on title.
What is a gap endorsement (gap insurance)? - ✔✔It protects the property
owner from clouds or claims on the title that might appear between the date
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, of the title commitment and the date the deed showing the new owner is
recorded (the gap). The title commitment is also called the preliminary
report.
What type of lien attaches to both real and personal property? - ✔✔General
lien. A specific lien attaches only to the property securing the debt. A
chattel mortgage is an example of a specific lien - "chattel mortgage " is an
old-fashioned term for a mortgage on personal property such as a car loan
secured by the car.
Which deed offers the most comprehensive guarantee of title? -
✔✔Warranty deed.
Which deed offers the least guarantee of title? - ✔✔Quit claim deed.
Land Use Controls and Regulations - 5 items. - ✔✔Private land use
controls: Restrictions, Deed Conditions, Covenants. Public Controls of
Permitted Use, Conditional Use, Non-conformingUse, Variance, Setbacks
(Zoning). PUDS (Planned Unit Development).
How does one determine the permitted uses for a particular area? -
✔✔Zoning ordinances, many municipalities post their zoning ordinances
online, contact the local zoning authority for more information on zoning
ordinances.
3
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
