1
Louisiana Real Estate Terms Questions
with Correct Answers for Specific
Exam Mail
absolutely null
Ans: the contract violates a rule of public order, in other
words, it is not legal to have this contract in the first place;
called void in common law
abusus
Ans: involves the right of the owner to the proceeds from
sale or mortgage
acquisitive prescription
Ans: the means of acquiring title to land against the real
owner, where possession has been actual, open, hostile,
exclusive, continuous, and under claim of right for the
statutory period of 30 years if in "bad faith" or 10 year if
under color of title
Act under private signature
Pretest - Stuvia US
,2
Ans: an act signed by each party and two witnesses
before a notary public
after-acquired doctrine
Ans: louisiana law states that if you acquire assets after a
general lien, the lien affects the after acquired assets
agency
Ans: the legal relationship resulting from an agreement
that the agent is authorized by a principal to perform
certain acts on behalf of the principal in dealing with a
third party
aleatory
Ans: contract in which the performance of either party's
obligation depends on an uncertain event
arpent
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, 3
Ans: a measurement of land in Louisiana based upon an
old french measure generally .84 of an acre or approx.
192 linear feet.
assumption
Ans: the buyer takes over payment but both seller and
buyer are liable for repayment
authentic act
Ans: an act executed and signed by each party and two
witness before a notary public
bond for deed
Ans: an instrument use in conveying Louisiana properties
whereby the seller retains title after execution until such
time as a designated amount has been paid in by the
buyer (demand the bond) at which time title passes and
the seller assumes the position of a mortgagee with a
security interest and the buyer-mortgagor assumes the
title
Pretest - Stuvia US
Louisiana Real Estate Terms Questions
with Correct Answers for Specific
Exam Mail
absolutely null
Ans: the contract violates a rule of public order, in other
words, it is not legal to have this contract in the first place;
called void in common law
abusus
Ans: involves the right of the owner to the proceeds from
sale or mortgage
acquisitive prescription
Ans: the means of acquiring title to land against the real
owner, where possession has been actual, open, hostile,
exclusive, continuous, and under claim of right for the
statutory period of 30 years if in "bad faith" or 10 year if
under color of title
Act under private signature
Pretest - Stuvia US
,2
Ans: an act signed by each party and two witnesses
before a notary public
after-acquired doctrine
Ans: louisiana law states that if you acquire assets after a
general lien, the lien affects the after acquired assets
agency
Ans: the legal relationship resulting from an agreement
that the agent is authorized by a principal to perform
certain acts on behalf of the principal in dealing with a
third party
aleatory
Ans: contract in which the performance of either party's
obligation depends on an uncertain event
arpent
Pretest - Stuvia US
, 3
Ans: a measurement of land in Louisiana based upon an
old french measure generally .84 of an acre or approx.
192 linear feet.
assumption
Ans: the buyer takes over payment but both seller and
buyer are liable for repayment
authentic act
Ans: an act executed and signed by each party and two
witness before a notary public
bond for deed
Ans: an instrument use in conveying Louisiana properties
whereby the seller retains title after execution until such
time as a designated amount has been paid in by the
buyer (demand the bond) at which time title passes and
the seller assumes the position of a mortgagee with a
security interest and the buyer-mortgagor assumes the
title
Pretest - Stuvia US
