Barney Fletcher Real Estate Exam
Questions And Answers
Assemblage - ANS combining two or more contiguous parcels of real estate into a single
parcel under one ownership
plottage - ANS an increase in value resulting from assemblage
fixture - ANS personal property that is permanently attached to real property and goes with
the property when its sold
what makes something a fixture - ANS if object was fixed or installed with the intention of
improving the home
appurtenances - ANS when new fixtures are attached ex. heat/air, roof
have brokers license but are working for another broker - ANS associate broker
principal/employing broker - ANS in charge of and responsible for all real estate operations
conducted by a real estate brokerage firm
which type of land description are the properties described as they relate to meridians - ANS
government / rectangular survey
alienation of title - ANS any change of ownership - transferring ownership rights or interests
in real property from one person to another
legal title - ANS right of ownership of a parcel of real property held by an owner
equitable title - ANS interest in a piece of real estate held by a buyer held under a contract
to obtain absolute ownership of the property at a future date
bare legal title - ANS lacks the usual rights and privileges associated with ownership
, constructive notice - ANS information has been made available to the public
inquiry notice - ANS when factors exist that make someone inquire further
ex. dirt road running across you would inquire whether there is an easement in place
marketable title - ANS a title free from reasonable doubt as to who the owner is
abstract of title - ANS detailed report of the title search
torrens system - ANS an owner petitions the state court to register his property
transfer of land
allodial system - ANS individuals are able to own land
eminent domain - ANS right of govs to assume property for necessary public use
escheat - ANS power the gov has when someone dies intestate and leaves no known heirs
PETE - powers of gov over title - ANS police power, eminent domain, taxation, escheat
encroachment - ANS unauthorized infringement on a property owners rights as a result of
physical intrusion
freehold estate - ANS highest and most complete form of ownership
seisin - ANS possession of freehold estate
qualified fee estate - ANS a fee simple estate that has certain limitations / qualifications
- owner holds fee simple title
defeasible - ANS capable of being voided/defeated
life estate - ANS fee simple estate that is conveyed to a person for the duration of their life
remainder estate - ANS future interest in real estate created at same time and by same
instrument as other state
statutory estate - ANS any state created by the law/ gov
Non-freehold estates - ANS for years, year to year, at will, sufferance
for years - ANS definite beginning and definite end
year to year - ANS indefinite number of time periods
Questions And Answers
Assemblage - ANS combining two or more contiguous parcels of real estate into a single
parcel under one ownership
plottage - ANS an increase in value resulting from assemblage
fixture - ANS personal property that is permanently attached to real property and goes with
the property when its sold
what makes something a fixture - ANS if object was fixed or installed with the intention of
improving the home
appurtenances - ANS when new fixtures are attached ex. heat/air, roof
have brokers license but are working for another broker - ANS associate broker
principal/employing broker - ANS in charge of and responsible for all real estate operations
conducted by a real estate brokerage firm
which type of land description are the properties described as they relate to meridians - ANS
government / rectangular survey
alienation of title - ANS any change of ownership - transferring ownership rights or interests
in real property from one person to another
legal title - ANS right of ownership of a parcel of real property held by an owner
equitable title - ANS interest in a piece of real estate held by a buyer held under a contract
to obtain absolute ownership of the property at a future date
bare legal title - ANS lacks the usual rights and privileges associated with ownership
, constructive notice - ANS information has been made available to the public
inquiry notice - ANS when factors exist that make someone inquire further
ex. dirt road running across you would inquire whether there is an easement in place
marketable title - ANS a title free from reasonable doubt as to who the owner is
abstract of title - ANS detailed report of the title search
torrens system - ANS an owner petitions the state court to register his property
transfer of land
allodial system - ANS individuals are able to own land
eminent domain - ANS right of govs to assume property for necessary public use
escheat - ANS power the gov has when someone dies intestate and leaves no known heirs
PETE - powers of gov over title - ANS police power, eminent domain, taxation, escheat
encroachment - ANS unauthorized infringement on a property owners rights as a result of
physical intrusion
freehold estate - ANS highest and most complete form of ownership
seisin - ANS possession of freehold estate
qualified fee estate - ANS a fee simple estate that has certain limitations / qualifications
- owner holds fee simple title
defeasible - ANS capable of being voided/defeated
life estate - ANS fee simple estate that is conveyed to a person for the duration of their life
remainder estate - ANS future interest in real estate created at same time and by same
instrument as other state
statutory estate - ANS any state created by the law/ gov
Non-freehold estates - ANS for years, year to year, at will, sufferance
for years - ANS definite beginning and definite end
year to year - ANS indefinite number of time periods
