Oregon Real Estate | Law 3 Exam Questions and Answers with Verified Solutions | Latest Updated 2026

Oregon Real Estate | Law 3 Exam Questions
and Answers with Verified Solutions | Latest
Updated 2026



A right or interest in real Encumbrance
property held by someone
other than the owner that
removes a stick from the
bundle of rights


An encumbrance that affects Financial encumbrance
title only and typically involves
money or debt


An encumbrance that affects Non-financial encumbrance
both title and physical use of
the property


A financial encumbrance that Lien
is a claim or charge against
property as security for a debt


An encumbrance placed on Voluntary encumbrance
property with the owner's
consent


An encumbrance placed on Involuntary encumbrance
property without the owner's
consent

, An encumbrance that affects General encumbrance
all property owned by a
debtor within a jurisdiction


An encumbrance that affects Specific encumbrance
only one identified parcel of
property


A voluntary, specific lien used Mortgage
as security for repayment of a
promissory note


The borrower in a mortgage Mortgagor
transaction


The lender in a mortgage Mortgagee
transaction


A voluntary, specific lien Trust deed
involving three parties and
allowing nonjudicial
foreclosure


The borrower in a trust deed Trustor (Grantor)



The lender in a trust deed Beneficiary



Neutral third party who holds Trustee
legal title and has power of
sale and reconveyance