Massachusetts Real Estate Exam QUESTIONS
AND ANSWERS 100% ACCURATE!!
,Bundle of Rights - ANSWER An ownership concept describing all the legal rights that
attach to the ownership of real property. ( possession, control, enjoyment, exclusion,
disposition)
Personal Property - ANSWER Chattel; movable/ portable; everything that "falls out" of a
house that is turned upside down
Riparian Rights - ANSWER "R" ivers; rights along flowing waters such as rivers and
streams; navigable ( to waters edge) non-navigable ( to middle)
Literal Rights - ANSWER "L" ake ; ownership rights along lakes and oceans; mA Law
intertidal zone...all people have the right to fish, navigate (walk), and faul(birdwatch
through intertidal zone
Real Estate - ANSWER Anything man or nature has put on earth; includes bundle of
legal rights, air, water, and mineral rights; edge of property to center of earth and up to
infinity (air rights) anything attached or put into the ground ( not on blocks)
Three Legal Descriptions Used in America - ANSWER Metes and Bounds, Rectangular
Survey, Subdivision Lot and Block
Metes and Bounds - ANSWER A system of land surveying that used natural features t
mark irregular parcels of land; Used in MA; oldest method used; always uses a POB
(point of beginning); uses distances and compass directions to describe using N,S!E!W
Rectangular Survey - ANSWER Uses ranges, sections, and townships to describe,
everything is rectangular shapes, FL not MA
Subdivision Lot and Block - ANSWER AKA: Subdivision Plan; uses subdivision Lot #
and street name to describe; used in ALL states
Personal Property - ANSWER Chattels; movable ( furniture, lawn mower, fire wood,
deck furniture, cows)
Fixtures - ANSWER An item that was personal property that is now affixed to the real
Estate and has become permanent; ex. Wall/wall carpet; a hutch noted to wall; a new
light by the front door
, Eminent Domain - ANSWER Governments right to seize property; must be for public
use and the owner paid a fair price
Codemnation Lawsuit - ANSWER State filed action
Taxation - ANSWER To support government operations
Escheat - ANSWER When an owner abandons or dies with no heirs the state claims the
property through the power of " escheat"
Freehold Estate - ANSWER You actually own it; the degree and extent of ones
ownership
Free Simple Absolute - ANSWER A type of freehold Estate, a type of ownership;
highest and most common; can last forever; is inheritable; realtor asks for a copy of
deed and grants you the "fee simple title", even if you have a mortagage
Fee Simple determinable - ANSWER When ownership is subject to a condition ; is
inheritable; offers automatic reversion rights; can last forever; ex. Cannot sell candles in
home written in deed
Conventional Life Estates - ANSWER NOT inheritable; terminates upon death of the
owner; heir can live in the house as long as she wants; heir cannot sell; when heir dies
the house goes to "remainder interest"
Remainder Interest - ANSWER If the deed names a third party to whom the title will
pass on the death of the life owner, them this third party is said to own the remainder
interest , or Estate
Homestead - ANSWER MA LAW $500,000 protection from unsecured creditors, can
only be placed on primary residence
Community Property - ANSWER MA LAW Massachusetts IS a community Property
state ; 50/50 assets all property real and person acquired during a marriage
Encumberances - ANSWER A charge or a burden that may diminish value; a mortgage
or tax lien
Liens - ANSWER A type of encumberance; a debt against the property; voluntary,
involuntary, specific, general
AND ANSWERS 100% ACCURATE!!
,Bundle of Rights - ANSWER An ownership concept describing all the legal rights that
attach to the ownership of real property. ( possession, control, enjoyment, exclusion,
disposition)
Personal Property - ANSWER Chattel; movable/ portable; everything that "falls out" of a
house that is turned upside down
Riparian Rights - ANSWER "R" ivers; rights along flowing waters such as rivers and
streams; navigable ( to waters edge) non-navigable ( to middle)
Literal Rights - ANSWER "L" ake ; ownership rights along lakes and oceans; mA Law
intertidal zone...all people have the right to fish, navigate (walk), and faul(birdwatch
through intertidal zone
Real Estate - ANSWER Anything man or nature has put on earth; includes bundle of
legal rights, air, water, and mineral rights; edge of property to center of earth and up to
infinity (air rights) anything attached or put into the ground ( not on blocks)
Three Legal Descriptions Used in America - ANSWER Metes and Bounds, Rectangular
Survey, Subdivision Lot and Block
Metes and Bounds - ANSWER A system of land surveying that used natural features t
mark irregular parcels of land; Used in MA; oldest method used; always uses a POB
(point of beginning); uses distances and compass directions to describe using N,S!E!W
Rectangular Survey - ANSWER Uses ranges, sections, and townships to describe,
everything is rectangular shapes, FL not MA
Subdivision Lot and Block - ANSWER AKA: Subdivision Plan; uses subdivision Lot #
and street name to describe; used in ALL states
Personal Property - ANSWER Chattels; movable ( furniture, lawn mower, fire wood,
deck furniture, cows)
Fixtures - ANSWER An item that was personal property that is now affixed to the real
Estate and has become permanent; ex. Wall/wall carpet; a hutch noted to wall; a new
light by the front door
, Eminent Domain - ANSWER Governments right to seize property; must be for public
use and the owner paid a fair price
Codemnation Lawsuit - ANSWER State filed action
Taxation - ANSWER To support government operations
Escheat - ANSWER When an owner abandons or dies with no heirs the state claims the
property through the power of " escheat"
Freehold Estate - ANSWER You actually own it; the degree and extent of ones
ownership
Free Simple Absolute - ANSWER A type of freehold Estate, a type of ownership;
highest and most common; can last forever; is inheritable; realtor asks for a copy of
deed and grants you the "fee simple title", even if you have a mortagage
Fee Simple determinable - ANSWER When ownership is subject to a condition ; is
inheritable; offers automatic reversion rights; can last forever; ex. Cannot sell candles in
home written in deed
Conventional Life Estates - ANSWER NOT inheritable; terminates upon death of the
owner; heir can live in the house as long as she wants; heir cannot sell; when heir dies
the house goes to "remainder interest"
Remainder Interest - ANSWER If the deed names a third party to whom the title will
pass on the death of the life owner, them this third party is said to own the remainder
interest , or Estate
Homestead - ANSWER MA LAW $500,000 protection from unsecured creditors, can
only be placed on primary residence
Community Property - ANSWER MA LAW Massachusetts IS a community Property
state ; 50/50 assets all property real and person acquired during a marriage
Encumberances - ANSWER A charge or a burden that may diminish value; a mortgage
or tax lien
Liens - ANSWER A type of encumberance; a debt against the property; voluntary,
involuntary, specific, general
