COLIBRI REAL ESTATE EXAM REVIEW
QUESTIONS WITH ACCURATE SOLUTIONS
2026
▶ Section. Answer: Part of a township, one-mile by one-mile square. Used
for the rectangular survey system; one section equals 640 acres, and 36
sections equal one township.
▶ Survey. Answer: The formal process of locating and measuring the
boundaries of a property and identifying the improvements,
encroachments, and easements that are associated with that parcel.
▶ Township. Answer: A square division of land, six miles by six miles, in
the rectangular survey system. One township contains 36 sections.
▶ Township Line. Answer: East-west lines that run parallel to baselines in
the rectangular survey system.
▶ Township tier. Answer: The six-mile distance between township lines in
the rectangular survey system.
▶ Illinois Plat Act. Answer: Mandates subdivision plats from a surveyor for
land subdivided into at least two parcels under five acres with new streets
or easements. The subdivision plat must detail lot size and dimensions,
streets, identify the school district, and include elevations for water flow
, changes. Plats must be approved by local governing boards and recorded
with the county before lots can be sold.
▶ Common Areas. Answer: The land and improvements in a condominium
or cooperative that all residents use and own as tenants in common, such
as the parking lot, hallways, and recreational facilities.
▶ Common-Interest Ownership. Answer: A situation where individual
ownership (fee simple) and group ownership (tenants in common) are
present in the same community subject to an owners association.
▶ Condominium (Condo). Answer: A property developed for co-ownership,
with each co-owner having a separate interest in an individual unit
combined with an undivided interest in the property's common areas and
airspace consisting of the area between the walls, floor, and ceiling.
▶ Cooperative (Co-Op). Answer: A type of property ownership in which
individuals have the right to occupy a unit by purchasing stock shares in the
corporation that owns the property. These individuals own stock shares, not
real estate.
▶ Co-Ownership (also called Co-Tenancy or Concurrent Ownership).
Answer: Any form of ownership in which two or more people share title to a
piece of property, holding undivided interests.
▶ Defeasible Fee (also called Fee Simple Defeasible or Qualified Fee).
Answer: A type of freehold estate conveying ownership interest that comes
with a condition.
QUESTIONS WITH ACCURATE SOLUTIONS
2026
▶ Section. Answer: Part of a township, one-mile by one-mile square. Used
for the rectangular survey system; one section equals 640 acres, and 36
sections equal one township.
▶ Survey. Answer: The formal process of locating and measuring the
boundaries of a property and identifying the improvements,
encroachments, and easements that are associated with that parcel.
▶ Township. Answer: A square division of land, six miles by six miles, in
the rectangular survey system. One township contains 36 sections.
▶ Township Line. Answer: East-west lines that run parallel to baselines in
the rectangular survey system.
▶ Township tier. Answer: The six-mile distance between township lines in
the rectangular survey system.
▶ Illinois Plat Act. Answer: Mandates subdivision plats from a surveyor for
land subdivided into at least two parcels under five acres with new streets
or easements. The subdivision plat must detail lot size and dimensions,
streets, identify the school district, and include elevations for water flow
, changes. Plats must be approved by local governing boards and recorded
with the county before lots can be sold.
▶ Common Areas. Answer: The land and improvements in a condominium
or cooperative that all residents use and own as tenants in common, such
as the parking lot, hallways, and recreational facilities.
▶ Common-Interest Ownership. Answer: A situation where individual
ownership (fee simple) and group ownership (tenants in common) are
present in the same community subject to an owners association.
▶ Condominium (Condo). Answer: A property developed for co-ownership,
with each co-owner having a separate interest in an individual unit
combined with an undivided interest in the property's common areas and
airspace consisting of the area between the walls, floor, and ceiling.
▶ Cooperative (Co-Op). Answer: A type of property ownership in which
individuals have the right to occupy a unit by purchasing stock shares in the
corporation that owns the property. These individuals own stock shares, not
real estate.
▶ Co-Ownership (also called Co-Tenancy or Concurrent Ownership).
Answer: Any form of ownership in which two or more people share title to a
piece of property, holding undivided interests.
▶ Defeasible Fee (also called Fee Simple Defeasible or Qualified Fee).
Answer: A type of freehold estate conveying ownership interest that comes
with a condition.
