COLIBRI REAL ESTATE EXAM TEST PAPER QUESTIONS SOLUTIONS GRADED A PLUS
Colibri REAL Estate Certification EXAM 2026/2027
Complete Answer Compendium Questions and
Answers Verified Solutions Latest Update
Question:
Defeasible Fee Simple Estate.
Answer:
Ownership with conditional restrictions which, if broken, can result in title to the property reverting
back to the grantor or his heirs. (Also referred to as, fee simple defeasible).
Question:
Defeasance Clause.
Answer:
A necessary mortgage clause in title theory states. When the debt is satisfied, this clause causes title
to pass automatically back to the borrower. Satisfaction of mortgage; release from records.
Question:
Depriciation.
Answer:
A decrease in value due to physical deterioration, functional or economic obsolescence.
Question:
Devise.
Answer:
Transferring title to real property by means of a will.
, Question:
Discount Points.
Answer:
A fee charged by the lender at settlement that results in increasing the lender's effective yield on the
money borrowed. One discount point equals one percent of the loan amount.
Question:
Dominant Estate.
Answer:
The tract of land in an easement appurtenant which benefits from the easement.
Question:
Dower.
Answer:
The rights that a wife acquires in her husband's fee simple property.
Question:
Due-on-Sale Clause.
Answer:
A clause, included in many mortgages, permitting the lender to require the borrower to repay the
outstanding balance when the property is sold. Prevents loan assumption.
Question:
Earnest Money.
Answer:
A sum of money given to bind an offer or agreement.
Colibri REAL Estate Certification EXAM 2026/2027
Complete Answer Compendium Questions and
Answers Verified Solutions Latest Update
Question:
Defeasible Fee Simple Estate.
Answer:
Ownership with conditional restrictions which, if broken, can result in title to the property reverting
back to the grantor or his heirs. (Also referred to as, fee simple defeasible).
Question:
Defeasance Clause.
Answer:
A necessary mortgage clause in title theory states. When the debt is satisfied, this clause causes title
to pass automatically back to the borrower. Satisfaction of mortgage; release from records.
Question:
Depriciation.
Answer:
A decrease in value due to physical deterioration, functional or economic obsolescence.
Question:
Devise.
Answer:
Transferring title to real property by means of a will.
, Question:
Discount Points.
Answer:
A fee charged by the lender at settlement that results in increasing the lender's effective yield on the
money borrowed. One discount point equals one percent of the loan amount.
Question:
Dominant Estate.
Answer:
The tract of land in an easement appurtenant which benefits from the easement.
Question:
Dower.
Answer:
The rights that a wife acquires in her husband's fee simple property.
Question:
Due-on-Sale Clause.
Answer:
A clause, included in many mortgages, permitting the lender to require the borrower to repay the
outstanding balance when the property is sold. Prevents loan assumption.
Question:
Earnest Money.
Answer:
A sum of money given to bind an offer or agreement.
