MICHIGAN REAL ESTATE EXAM QUESTIONS AND ANSWERS|100% CORRECT|WELL DETAILED AND VERIFIED ANSWERS|LATEST 2025/2026

MICHIGAN REAL ESTATE EXAM QUESTIONS

DETAILED AND VERIFIED ANSWERS|LATEST


Accretion - B



B ANSWER The addition to real estate by accumulation of soil and land through nature.
B B B B B B B B B B B B




Accrued Depreciation -B B



ANSWER
B Loss in value of a property due to time. Difference of replacement cost and th
B B B B B B B B B B B B B B



e presently appraised value.
B B B




Acre - ANSWER
B B 43,560 Sq Ft B B




Actual Notice - B B



ANSWER
B Notifying person of an existing property by showing documents or other physi
B B B B B B B B B B B



cal evidence.
B




Ad Valorem - ANSWER
B B B According to value. (Latin) B B B




Administrator - B



ANSWER
B A Personal representative. A person appointed by court to settle the estate of
B B B B B B B B B B B B B



a person who died without a will.
B B B B B B




Adverse Easement (Easement by prescription) -
B B B B B



BANSWER An easement acquired by means of a notorious and continous use of property
B B B B B B B B B B B B



.



Adverse Possession - B B



ANSWER
B Gaining interest in real estate through actual, notorious, and notorious posse
B B B B B B B B B B



ssion for the statutory period of time.
B B B B B B




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, Agent - ANSWER B B One authorized to represnt another on his behalf.
B B B B B B B




Air Rights - ANSWER
B B B The right of the real estate owner to the space above the land.
B B B B B B B B B B B B




Air Space - B B



ANSWER
B Space that is solely owned by condo owners (they only own the condo, not th
B B B B B B B B B B B B B B



e land below or air above.
B B B B B




Allodial System - B B



B ANSWER Current system employed in the US and other counts to own real estate.
B B B B B B B B B B B B




Americans with Disabilities Act (ADA) - B B B B B



ANSWER
B Federal law that requires public facilities to make accommodations for the dis
B B B B B B B B B B B



abled.



Appraisal - B



BANSWER An opinion issued by a state licensed appraised estimating the value of proper
B B B B B B B B B B B B



ty based on property features and market conditions.
B B B B B B B




Appreciation - B



B ANSWER The increase of property value resulting from economic conditions
B B B B B B B B




Appurtenance - B



BANSWER A privilege, right, or improvement that passes on with land upon transfer of ti
B B B B B B B B B B B B B



tle.



Arms Length Transaction -
B B B



ANSWER
B Transaction that occurs in a competetive market rh leads to a fair sale involvin B B B B B B B B B B B B B



g a willing buyer and seller
B B B B B




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