Illinois Real Estate Exam 2026 Questions
and Answers
Fee simple - Correct answer-Also called fee simple absolute or indefeasible fee,
this fee estate is the most complete form of ownership without limitations or
conditions
Life estate - Correct answer-Grants possession and limited ownership of the
property to a person for the duration of the recipients life or the life of another
person
Fee simple qualified estate - Correct answer-Also called fee simple defeasible
estate. 3 different types
Few simple precedent - Correct answer-Ownership (title) won't pass from one
person to another until a particular condition is met.
Feesimple condition subsequent - Correct answer-The grantor (the original owner)
can reclaim property if some condition isn't met after title has passed to the next
owner. It's an actual transfer of ownership with a condition.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,The right to reclaim the property is known as the right of entry, and a specific
action to reclaim the property must be taken.
Fee simple determinable - Correct answer-Title remains with the new owner as
long as any conditions of ownership are being met. Ownership reverts back to
original owner without having to take any action.
Life estate - Correct answer-Grants possession and limited ownership of the
property to a person for the direction of the recipients life or the life of another
person. Has a time limit.
Ordinary life estate - Correct answer-A state in which the length of time of the
estate interest is the lifetime of the person receiving the life estate
Remainderman - Correct answer-Someone entitled to the remainder interest in an
estate
Life estate pur Autre vie - Correct answer-French for another life, the length of this
life estate is for the lifetime of a third-party rather than the person actually
receiving the life estate.
Homestead - Correct answer-Grants the family home a certain level of protection
from creditors during the homeowners lifetime
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
,Dower - Correct answer-Right of a wife to a portion of real property that is owned
by her husband, after he dies and even if he leaves it to someone else in his will
Curtsey - Correct answer-Right of a husband to a portion of real property that is
owned by his wife after she dies and even if she leaves it to someone else in her
will
Community property - Correct answer-Right of a spouse, and titling them to one
half interest in real property that was acquired during a marriage
Leasehold interest or estate - Correct answer-The tenants interest in the real
property
Leased fee interest or a state - Correct answer-The owner or landlord's interest in
the real property. Landlord holds title to the property.
Littoral rights - Correct answer-The rights commonly granted to owners of
property the border a bay, a large lake, the ocean, or a sea. Water is not navigable
so you own to the centerline
Riparian Rights - Correct answer-The rights of property owners who only and
abutting rivers and streams. Means you live on navigable rivers and streams so you
have rights to the waters edge and the use of the water.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, Doctrine of prior appropriation - Correct answer-places the right to control water
resources in the hands of the state rather than the individual property owners
Surface rights - Correct answer-Rights to do whatever is legally permitted on the
surface of the property
Real property - Correct answer-Land, improvements, and all the rights of
ownership
Bundle of rights - Correct answer-Overall theory of the rights property owners
have
Reversion - Correct answer-When a property interest automatically returns to you,
comes back,
Remainder Interest - Correct answer-Conveys the rights to a third-party, if thestate
and after you die.
Tenancy - Correct answer-Having an interest in a piece of real estate...also having
an ownership interest in a property.
Tenancy in severalty - Correct answer-Also sole ownership, no one has an
ownership interest in the property except the one owner.
Tenancy in common - Correct answer-Ownership in which two or more people on
a property together. The land itself is not physically divided. The percentage of
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
and Answers
Fee simple - Correct answer-Also called fee simple absolute or indefeasible fee,
this fee estate is the most complete form of ownership without limitations or
conditions
Life estate - Correct answer-Grants possession and limited ownership of the
property to a person for the duration of the recipients life or the life of another
person
Fee simple qualified estate - Correct answer-Also called fee simple defeasible
estate. 3 different types
Few simple precedent - Correct answer-Ownership (title) won't pass from one
person to another until a particular condition is met.
Feesimple condition subsequent - Correct answer-The grantor (the original owner)
can reclaim property if some condition isn't met after title has passed to the next
owner. It's an actual transfer of ownership with a condition.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,The right to reclaim the property is known as the right of entry, and a specific
action to reclaim the property must be taken.
Fee simple determinable - Correct answer-Title remains with the new owner as
long as any conditions of ownership are being met. Ownership reverts back to
original owner without having to take any action.
Life estate - Correct answer-Grants possession and limited ownership of the
property to a person for the direction of the recipients life or the life of another
person. Has a time limit.
Ordinary life estate - Correct answer-A state in which the length of time of the
estate interest is the lifetime of the person receiving the life estate
Remainderman - Correct answer-Someone entitled to the remainder interest in an
estate
Life estate pur Autre vie - Correct answer-French for another life, the length of this
life estate is for the lifetime of a third-party rather than the person actually
receiving the life estate.
Homestead - Correct answer-Grants the family home a certain level of protection
from creditors during the homeowners lifetime
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
,Dower - Correct answer-Right of a wife to a portion of real property that is owned
by her husband, after he dies and even if he leaves it to someone else in his will
Curtsey - Correct answer-Right of a husband to a portion of real property that is
owned by his wife after she dies and even if she leaves it to someone else in her
will
Community property - Correct answer-Right of a spouse, and titling them to one
half interest in real property that was acquired during a marriage
Leasehold interest or estate - Correct answer-The tenants interest in the real
property
Leased fee interest or a state - Correct answer-The owner or landlord's interest in
the real property. Landlord holds title to the property.
Littoral rights - Correct answer-The rights commonly granted to owners of
property the border a bay, a large lake, the ocean, or a sea. Water is not navigable
so you own to the centerline
Riparian Rights - Correct answer-The rights of property owners who only and
abutting rivers and streams. Means you live on navigable rivers and streams so you
have rights to the waters edge and the use of the water.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, Doctrine of prior appropriation - Correct answer-places the right to control water
resources in the hands of the state rather than the individual property owners
Surface rights - Correct answer-Rights to do whatever is legally permitted on the
surface of the property
Real property - Correct answer-Land, improvements, and all the rights of
ownership
Bundle of rights - Correct answer-Overall theory of the rights property owners
have
Reversion - Correct answer-When a property interest automatically returns to you,
comes back,
Remainder Interest - Correct answer-Conveys the rights to a third-party, if thestate
and after you die.
Tenancy - Correct answer-Having an interest in a piece of real estate...also having
an ownership interest in a property.
Tenancy in severalty - Correct answer-Also sole ownership, no one has an
ownership interest in the property except the one owner.
Tenancy in common - Correct answer-Ownership in which two or more people on
a property together. The land itself is not physically divided. The percentage of
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
