2025/2026 FINAL EXAM CAREER ACADEMY OF REAL
ESTATE ALABAMA EXAM AND A NEW UPDATED
STUDY GUIDE ACCURATE EXAM COMPLETE
ACTUAL QUESTIONS AND CORRECT VERIFIED
SOLUTIONS (A NEW UPDATED VERSION)
|GUARANTEED SUCCESS !
Life Estate in Reversion
Answer- Ownership reverts to grantor or heirs upon death of life
tenant
Life Estate in Remainder
Answer- Ownership reverts to a 3rd party called a remainder
man
Freehold Estate
-2 types of ownership
Answer- -Fee estates (inheritable)
-Life estates (not inheritable)
Fee Estates
-2 types of ownership
,Answer -Fee simple absolute (complete type of ownership &
most common)
-Fee simple defeasible (ownership can be defeated or there is a
qualification associated w/maintaining ownership)
Qualifications for Ownership
-2 qualifications for ownership
Answer- Condition subsequent (states a specific use of the
property that is prohibited)
-Fee simple determinable (states that property must be used for a
specific purpose)
Life Estate
-Ownership for only one lifetime
-2 types of life estate
Answer-Voluntary/Conventional (set up voluntarily by the
grantor of the life estate)
-Involuntary/Statutory (set up because of a requirement of law)
,Ordinary Life Estate
-Grantor conveys ownership of a property to life tenant
-Upon death of tenant, ownership goes to remainder man chosen
by grantor or reverts to grantor/grantor's heirs
Purr Audre Vie
-Estate is based on life of a person other than life tenant
-Upon death of life tenant, grantor determines what happens to
estate (determined when life estate is established)
Leasehold Estates
-Estate for Years
-Estate from Period to Period
-Estate at Will
-Estate at Sufferance
Estate for Years
Beginning & end date
, Estate from Period to Period
-Aka periodic estate
-Lease automatically renews from some period of time for
occupancy
Estate at Will
-No specified end date
-No renewal
-At landlord's will & at tenant's will
-Lease agreement may specify that notice be given
Estate at Sufferance
-Tenancy of lessee who lawfully comes into possession of
landlord's RE but who continues to occupy premises after lease
rights have expired
-Tenant does not vacate at end of lease
Ownership in Severalty
ESTATE ALABAMA EXAM AND A NEW UPDATED
STUDY GUIDE ACCURATE EXAM COMPLETE
ACTUAL QUESTIONS AND CORRECT VERIFIED
SOLUTIONS (A NEW UPDATED VERSION)
|GUARANTEED SUCCESS !
Life Estate in Reversion
Answer- Ownership reverts to grantor or heirs upon death of life
tenant
Life Estate in Remainder
Answer- Ownership reverts to a 3rd party called a remainder
man
Freehold Estate
-2 types of ownership
Answer- -Fee estates (inheritable)
-Life estates (not inheritable)
Fee Estates
-2 types of ownership
,Answer -Fee simple absolute (complete type of ownership &
most common)
-Fee simple defeasible (ownership can be defeated or there is a
qualification associated w/maintaining ownership)
Qualifications for Ownership
-2 qualifications for ownership
Answer- Condition subsequent (states a specific use of the
property that is prohibited)
-Fee simple determinable (states that property must be used for a
specific purpose)
Life Estate
-Ownership for only one lifetime
-2 types of life estate
Answer-Voluntary/Conventional (set up voluntarily by the
grantor of the life estate)
-Involuntary/Statutory (set up because of a requirement of law)
,Ordinary Life Estate
-Grantor conveys ownership of a property to life tenant
-Upon death of tenant, ownership goes to remainder man chosen
by grantor or reverts to grantor/grantor's heirs
Purr Audre Vie
-Estate is based on life of a person other than life tenant
-Upon death of life tenant, grantor determines what happens to
estate (determined when life estate is established)
Leasehold Estates
-Estate for Years
-Estate from Period to Period
-Estate at Will
-Estate at Sufferance
Estate for Years
Beginning & end date
, Estate from Period to Period
-Aka periodic estate
-Lease automatically renews from some period of time for
occupancy
Estate at Will
-No specified end date
-No renewal
-At landlord's will & at tenant's will
-Lease agreement may specify that notice be given
Estate at Sufferance
-Tenancy of lessee who lawfully comes into possession of
landlord's RE but who continues to occupy premises after lease
rights have expired
-Tenant does not vacate at end of lease
Ownership in Severalty
