BERMUDA REAL ESTATE AND LICENSING EXAM QUESTIONS
WITH COMPLETE SOLUTIONS GUARANTEED PASS BRAND NEW
2025
Defect/Cloud in the title - ANSWER - >Conflicting claims that prevent
the absolute legal conveyance of CLEAR TITLE
Period to Period is a type of leasehold that: - ANSWER - >Has no specific
expiration but the length is specified (like a month to month lease)
Net Lease - ANSWER - >lease in which the tenant pays some or all of
the operating expenses of the property in addition to rent. Often
commercial.
Adverse Possession - ANSWER - >A person takes possession & use of a
property belonging to another. Possession must be open, notorious,
hostile & uninterrupted for a certain period of time.
Estoppel - ANSWER - >Legal bar that prevents contradictions. Often a
document that 'stops' prevents people from contradicting earlier
agreements or statements
Conformity appraisal method - ANSWER - >Orchard in the midst of a
housing development
Anticipation value - ANSWER - >Valued on future income.
nonrecourse loan - ANSWER - >a loan that carries neither a penalty nor
further obligation to repay if not paid back
,Land (Definition) - ANSWER - >immobility, permanence, uniqueness,
indestructablity
Annexation - ANSWER - >term by attachment becomes real property
Severance - ANSWER - >term by separating a fixture from real property
becomes personal property
Monument - ANSWER - >landmark natural or stake to mark a boundry
Fee Simple Absolute - ANSWER - >No conditions on use or transfer
alienation of title - ANSWER - >A change of ownership. May be
voluntary (sold the property) or involuntary (foreclosure sale).
testate - ANSWER - >having a will
Intestate Succession - ANSWER - >the method used to distribute
property owned by a person who dies without a valid will
nuncupative will - ANSWER - >an oral will
Holographic Will - ANSWER - >A will written entirely by the testator
with his own hand.
devise - ANSWER - >real property disposed of in a will
Adverse Possession - ANSWER - >The actual, open, notorious, hostile,
and continuous possession of another's land under a claim of title, must
be 20 years.
Redemption - ANSWER - >mortgage default then payoff and claim back
property
, balance app - ANSWER - >
Friendly Foreclosure - ANSWER - >deed in lieu of foreclosure
forebearance - ANSWER - >work out loan for debt
Tenants in Common - ANSWER - >shared ownership of a single property
among two or more persons; interests need not be equal and no right
of survivorship exists. FRACTIONAL
Joint Tenancy - ANSWER - >A form of co-ownership that includes the
right of survivorship. EQUAL
foreshore encroachments - ANSWER - >docks
foreshore lease - ANSWER - >21 years
Non-conforming use - ANSWER - >Use after a zoning change -
grandfathered (BEFORE ZONING)
Variance - ANSWER - >Added after zoning in place - granted (AFTER
ZONING)
Conditional use - ANSWER - >permitted use that can be revoked
Spot zoning - ANSWER - >a change in the zoning ordinance for a
particular area
buffer zone - ANSWER - >new industrial park and zone space between
Special assessment - ANSWER - >Tax only on property directly
benefiting from an improvement
WITH COMPLETE SOLUTIONS GUARANTEED PASS BRAND NEW
2025
Defect/Cloud in the title - ANSWER - >Conflicting claims that prevent
the absolute legal conveyance of CLEAR TITLE
Period to Period is a type of leasehold that: - ANSWER - >Has no specific
expiration but the length is specified (like a month to month lease)
Net Lease - ANSWER - >lease in which the tenant pays some or all of
the operating expenses of the property in addition to rent. Often
commercial.
Adverse Possession - ANSWER - >A person takes possession & use of a
property belonging to another. Possession must be open, notorious,
hostile & uninterrupted for a certain period of time.
Estoppel - ANSWER - >Legal bar that prevents contradictions. Often a
document that 'stops' prevents people from contradicting earlier
agreements or statements
Conformity appraisal method - ANSWER - >Orchard in the midst of a
housing development
Anticipation value - ANSWER - >Valued on future income.
nonrecourse loan - ANSWER - >a loan that carries neither a penalty nor
further obligation to repay if not paid back
,Land (Definition) - ANSWER - >immobility, permanence, uniqueness,
indestructablity
Annexation - ANSWER - >term by attachment becomes real property
Severance - ANSWER - >term by separating a fixture from real property
becomes personal property
Monument - ANSWER - >landmark natural or stake to mark a boundry
Fee Simple Absolute - ANSWER - >No conditions on use or transfer
alienation of title - ANSWER - >A change of ownership. May be
voluntary (sold the property) or involuntary (foreclosure sale).
testate - ANSWER - >having a will
Intestate Succession - ANSWER - >the method used to distribute
property owned by a person who dies without a valid will
nuncupative will - ANSWER - >an oral will
Holographic Will - ANSWER - >A will written entirely by the testator
with his own hand.
devise - ANSWER - >real property disposed of in a will
Adverse Possession - ANSWER - >The actual, open, notorious, hostile,
and continuous possession of another's land under a claim of title, must
be 20 years.
Redemption - ANSWER - >mortgage default then payoff and claim back
property
, balance app - ANSWER - >
Friendly Foreclosure - ANSWER - >deed in lieu of foreclosure
forebearance - ANSWER - >work out loan for debt
Tenants in Common - ANSWER - >shared ownership of a single property
among two or more persons; interests need not be equal and no right
of survivorship exists. FRACTIONAL
Joint Tenancy - ANSWER - >A form of co-ownership that includes the
right of survivorship. EQUAL
foreshore encroachments - ANSWER - >docks
foreshore lease - ANSWER - >21 years
Non-conforming use - ANSWER - >Use after a zoning change -
grandfathered (BEFORE ZONING)
Variance - ANSWER - >Added after zoning in place - granted (AFTER
ZONING)
Conditional use - ANSWER - >permitted use that can be revoked
Spot zoning - ANSWER - >a change in the zoning ordinance for a
particular area
buffer zone - ANSWER - >new industrial park and zone space between
Special assessment - ANSWER - >Tax only on property directly
benefiting from an improvement
