ACEABLE AGENT 2027 SETS ANSWERS AND
QUESTIONS SET A+
✔✔Special Warranty Deed - ✔✔a deed where the grantor warrants only that the
property was not encumbered during the time they held title, except as noted in the
deed, and that they have done nothing during ownership to cloud or damage the title
✔✔Bargain and Sale Deed - ✔✔a deed without any warranty against encumbrances;
only implies that the grantor holds title and possession of the property
✔✔Quitclaim Deed - ✔✔provides the grantee with the least protection of any deed,
while imposing the least liability on the grantor
✔✔Title - ✔✔a bundle of rights with regards to a piece of property in which a party may
own a legal or equitable interest
✔✔Abstract of Title - ✔✔an abbreviated history of a property, including info on any
transfers, grants, wills, conveyances, liens, and encumbrances
✔✔Title Policy - ✔✔insurance that protects homeowners (and, likewise, their lenders)
from potential financial losses due to title issues, such as encumbrances, liens, and
defects in the title
✔✔Recording - ✔✔the process of placing documents into the public record per state
law
✔✔Chain of Title - ✔✔the record of a property's ownership
✔✔Title Search - ✔✔an examination of all public records in the county of determine who
has rights in the property and whether any defects exist in the chain of title
✔✔Marketable Title - ✔✔title that is so free from significant encumbrances or defects
that might otherwise prevent a purchaser from enjoying or eventually selling the
property
, ✔✔Evidence of Title - ✔✔proof of ownership of the property
✔✔Title Defect - ✔✔anything that can cause a title to be considered invalid or defective
in some way
✔✔Torrens System - ✔✔title process in which a property owner obtains a certificate that
is recorded in the public records; not used in Texas
✔✔Alienations - ✔✔transfer of title to real estate
✔✔Coveyance - ✔✔the transfer of real estate by use of written instrument
✔✔Acquisition - ✔✔the process of gaining ownership or control of real property or an
interest in real property
✔✔Easement - ✔✔an interest in real property that affords a person the right to make
limited use of another person's real property
✔✔Estate - ✔✔The degree, quantity, nature, and extent of interest a person has in real
property.
✔✔Statutory Estate - ✔✔an estate that is created as a matter of state law
✔✔Fee Simple Estate - ✔✔maximum ownership of real property; a.k.a, fee or a fee
simple absolute; it is of indefinite duration, freely transferable, and freely inheritable
✔✔Defeasible Fee Estate - ✔✔also known as fee simple defeasible or qualified fee, is a
type of freehold estate in which a person who has possession of the property is only
able to hold the property until an event takes place or does not occur; two common
versions of this estate are fee simple determinable and fee simple subject to condition
subsequent
✔✔Fee Simple Subject to Condition Subsequent - ✔✔a defeasible fee estate in which a
grantor conveys a parcel of real estate subject to a condition of ownership; the grantor
must go to court to assert their right to retake ownership (right of re-entry)
✔✔Fee Simple Determinable Estate - ✔✔a defeasible fee estate that will come to an
end automatically and immediately upon the occurrence of a designated event, the time
of such occurrence being uncertain
✔✔Conventional Life Estate - ✔✔a type of freehold life estate created by a deed or will
that lasts for the duration of the tenant's life
QUESTIONS SET A+
✔✔Special Warranty Deed - ✔✔a deed where the grantor warrants only that the
property was not encumbered during the time they held title, except as noted in the
deed, and that they have done nothing during ownership to cloud or damage the title
✔✔Bargain and Sale Deed - ✔✔a deed without any warranty against encumbrances;
only implies that the grantor holds title and possession of the property
✔✔Quitclaim Deed - ✔✔provides the grantee with the least protection of any deed,
while imposing the least liability on the grantor
✔✔Title - ✔✔a bundle of rights with regards to a piece of property in which a party may
own a legal or equitable interest
✔✔Abstract of Title - ✔✔an abbreviated history of a property, including info on any
transfers, grants, wills, conveyances, liens, and encumbrances
✔✔Title Policy - ✔✔insurance that protects homeowners (and, likewise, their lenders)
from potential financial losses due to title issues, such as encumbrances, liens, and
defects in the title
✔✔Recording - ✔✔the process of placing documents into the public record per state
law
✔✔Chain of Title - ✔✔the record of a property's ownership
✔✔Title Search - ✔✔an examination of all public records in the county of determine who
has rights in the property and whether any defects exist in the chain of title
✔✔Marketable Title - ✔✔title that is so free from significant encumbrances or defects
that might otherwise prevent a purchaser from enjoying or eventually selling the
property
, ✔✔Evidence of Title - ✔✔proof of ownership of the property
✔✔Title Defect - ✔✔anything that can cause a title to be considered invalid or defective
in some way
✔✔Torrens System - ✔✔title process in which a property owner obtains a certificate that
is recorded in the public records; not used in Texas
✔✔Alienations - ✔✔transfer of title to real estate
✔✔Coveyance - ✔✔the transfer of real estate by use of written instrument
✔✔Acquisition - ✔✔the process of gaining ownership or control of real property or an
interest in real property
✔✔Easement - ✔✔an interest in real property that affords a person the right to make
limited use of another person's real property
✔✔Estate - ✔✔The degree, quantity, nature, and extent of interest a person has in real
property.
✔✔Statutory Estate - ✔✔an estate that is created as a matter of state law
✔✔Fee Simple Estate - ✔✔maximum ownership of real property; a.k.a, fee or a fee
simple absolute; it is of indefinite duration, freely transferable, and freely inheritable
✔✔Defeasible Fee Estate - ✔✔also known as fee simple defeasible or qualified fee, is a
type of freehold estate in which a person who has possession of the property is only
able to hold the property until an event takes place or does not occur; two common
versions of this estate are fee simple determinable and fee simple subject to condition
subsequent
✔✔Fee Simple Subject to Condition Subsequent - ✔✔a defeasible fee estate in which a
grantor conveys a parcel of real estate subject to a condition of ownership; the grantor
must go to court to assert their right to retake ownership (right of re-entry)
✔✔Fee Simple Determinable Estate - ✔✔a defeasible fee estate that will come to an
end automatically and immediately upon the occurrence of a designated event, the time
of such occurrence being uncertain
✔✔Conventional Life Estate - ✔✔a type of freehold life estate created by a deed or will
that lasts for the duration of the tenant's life
