BARNEY FLETCHER REAL ESTATE FINAL PAPER 2025/2026
QUESTIONS WITH SOLUTIONS GRADED A+
✔✔PETE - powers of gov over title - ✔✔police power, eminent domain, taxation,
escheat
✔✔encroachment - ✔✔unauthorized infringement on a property owners rights as a
result of physical intrusion
✔✔freehold estate - ✔✔highest and most complete form of ownership
✔✔seisin - ✔✔possession of freehold estate
✔✔qualified fee estate - ✔✔a fee simple estate that has certain limitations /
qualifications
- owner holds fee simple title
✔✔defeasible - ✔✔capable of being voided/defeated
✔✔life estate - ✔✔fee simple estate that is conveyed to a person for the duration of
their life
✔✔remainder estate - ✔✔future interest in real estate created at same time and by
same instrument as other state
✔✔statutory estate - ✔✔any state created by the law/ gov
✔✔Non-freehold estates - ✔✔for years, year to year, at will, sufferance
✔✔for years - ✔✔definite beginning and definite end
✔✔year to year - ✔✔indefinite number of time periods
ex. month to month or week to week rental
✔✔at will - ✔✔when a tenant in lawful possession with no definite time specified as to
when he may vacate
✔✔sufferance - ✔✔when a tenant occupies real estate after his lawful rights have run
out
- goes until tenant vacates or landlord takes action
- termination doesn't require notice
✔✔laches - ✔✔stops a person from acting against another if they dont do it in a set
amount of time
, ✔✔PITT - four unities - ✔✔property, interest, time, title
✔✔tenancy by the entireties - ✔✔for married couples - only between husband and wife
✔✔tenancy in common - ✔✔most common form of ownership
can have unequal ownership interests
can be willed
✔✔general partnership - ✔✔all partners have unlimited liability
control the operation of the business and are individually and totally liable for
debts/obligations
✔✔limited partnership - ✔✔limited liability
must take declared investment of property / money
✔✔syndicate - ✔✔people join together for a common investment purpose
✔✔trust - ✔✔title held by a trustee for the beneficiary
✔✔REIT - ✔✔real estate investment trust - 100 people minimum
✔✔lien - ✔✔monetary claim making a property security for a payment of debt
✔✔encumbrance - ✔✔also known as a lien
✔✔blue sky laws - ✔✔failure to give accurate financial on an investment property to a
buyer is misrepresentation
✔✔recording a valid deed gives what kind of notice - ✔✔constructive notice
✔✔divorced wife gets a house, husband disappears and is still on title, what action does
wife file to sell the home - ✔✔title action
✔✔is a license an encumbrance on a property - ✔✔no
✔✔alcohol restriction on a deed from the seller makes the borrower have what kind of
estate - ✔✔defeasible estate
✔✔deficiency judgment - ✔✔lender gets balance due after foreclosure
✔✔intestate succession - ✔✔dies without a will
QUESTIONS WITH SOLUTIONS GRADED A+
✔✔PETE - powers of gov over title - ✔✔police power, eminent domain, taxation,
escheat
✔✔encroachment - ✔✔unauthorized infringement on a property owners rights as a
result of physical intrusion
✔✔freehold estate - ✔✔highest and most complete form of ownership
✔✔seisin - ✔✔possession of freehold estate
✔✔qualified fee estate - ✔✔a fee simple estate that has certain limitations /
qualifications
- owner holds fee simple title
✔✔defeasible - ✔✔capable of being voided/defeated
✔✔life estate - ✔✔fee simple estate that is conveyed to a person for the duration of
their life
✔✔remainder estate - ✔✔future interest in real estate created at same time and by
same instrument as other state
✔✔statutory estate - ✔✔any state created by the law/ gov
✔✔Non-freehold estates - ✔✔for years, year to year, at will, sufferance
✔✔for years - ✔✔definite beginning and definite end
✔✔year to year - ✔✔indefinite number of time periods
ex. month to month or week to week rental
✔✔at will - ✔✔when a tenant in lawful possession with no definite time specified as to
when he may vacate
✔✔sufferance - ✔✔when a tenant occupies real estate after his lawful rights have run
out
- goes until tenant vacates or landlord takes action
- termination doesn't require notice
✔✔laches - ✔✔stops a person from acting against another if they dont do it in a set
amount of time
, ✔✔PITT - four unities - ✔✔property, interest, time, title
✔✔tenancy by the entireties - ✔✔for married couples - only between husband and wife
✔✔tenancy in common - ✔✔most common form of ownership
can have unequal ownership interests
can be willed
✔✔general partnership - ✔✔all partners have unlimited liability
control the operation of the business and are individually and totally liable for
debts/obligations
✔✔limited partnership - ✔✔limited liability
must take declared investment of property / money
✔✔syndicate - ✔✔people join together for a common investment purpose
✔✔trust - ✔✔title held by a trustee for the beneficiary
✔✔REIT - ✔✔real estate investment trust - 100 people minimum
✔✔lien - ✔✔monetary claim making a property security for a payment of debt
✔✔encumbrance - ✔✔also known as a lien
✔✔blue sky laws - ✔✔failure to give accurate financial on an investment property to a
buyer is misrepresentation
✔✔recording a valid deed gives what kind of notice - ✔✔constructive notice
✔✔divorced wife gets a house, husband disappears and is still on title, what action does
wife file to sell the home - ✔✔title action
✔✔is a license an encumbrance on a property - ✔✔no
✔✔alcohol restriction on a deed from the seller makes the borrower have what kind of
estate - ✔✔defeasible estate
✔✔deficiency judgment - ✔✔lender gets balance due after foreclosure
✔✔intestate succession - ✔✔dies without a will
