2026 EXAM SMART REAL ESTATE TEST PRACTICE
QUESTIONS AND CORRECT ANSWERS (PROFESSOR
VERIFIED) | ALREADY GRADED A+
Bundle of Rights - CORRECT ANSWER -Basic rights to lease or sale property
Deed - CORRECT ANSWER -Transfer of real property to a seller or a buyer at closing.
appurtenance - CORRECT ANSWER -a right, privilege, or improvement that passes with the land.
ex: trees, house
personal property - CORRECT ANSWER -easily moveable. ex: chair or desk
chattel - CORRECT ANSWER -another word for personal property
chattel mortgage - CORRECT ANSWER -property being used to security the loan would be
personal property
Bill of sale - CORRECT ANSWER -Document used to transfer personal property
Fixture - CORRECT ANSWER -real estate - at one time it was personal property but then once it
is installed or permanently apart of the property is is now real property
Trade fixture - CORRECT ANSWER -personal property - can take fixtures the tenant bought when
he moves out
Emblements - CORRECT ANSWER -Personal property - growing crops in the field but then you
move but you still have rights to the last of the crops
,Government rights: right of taxation - CORRECT ANSWER -government has the right to tax you
on your real estate to fund the local government
Government rights: police power - CORRECT ANSWER -Keeps things in order like zoning and
flooding plains
Government rights: eminent domain - CORRECT ANSWER -Right of government to take your
property or land for public use or good
Government rights: condemnation - CORRECT ANSWER -Process used with the right of Eminent
domain
Government rights: escheat - CORRECT ANSWER -When a person dies with no will or heirs the
state government receives their property
Private rights: freehold estate - CORRECT ANSWER -Ownership
Private rights: leasehold estate - CORRECT ANSWER -Tenant is leasing a home
Fee Estate - CORRECT ANSWER -Inheritable
Life estate - CORRECT ANSWER -Non-Inheritable
Life estate in reversion - CORRECT ANSWER -A person may own a home for their life time and
when that person dies the "life tenant" gets the property back a.k.a it reverts back to the
original owner
, Life estate in remainder - CORRECT ANSWER -A person dies that owns the estate and the
original owner signs it to a remainder. ex: parents or children
Homestead Exemption - CORRECT ANSWER -Owe someone money and the have a judgment
against you that person cannot force you out of your houses
Title: severalty - CORRECT ANSWER -Buys property all by yourself - one person
Title: tenancy in common - CORRECT ANSWER -One party dies, interest will go to their heirs
Title: joint tenancy - CORRECT ANSWER -4 unities to create a joint tenancy. Take title at the
same time, all on one deed, ownership interest must be equal, share the property equal, and if
a party dies the interest goes to the surviving owners, not your heirs
Title: Tenancy by entireties - CORRECT ANSWER -Tenants are married when the property is
acquired
Title: Community property - CORRECT ANSWER -Separate: before marriage
Community: during marriage
Estate for years - CORRECT ANSWER -definite beginning and ending date
Periodic tenancy - CORRECT ANSWER -Month to month lease
Tenancy at will - CORRECT ANSWER -There is nothing in writing but the landlord keeps accepting
money from the tenant
QUESTIONS AND CORRECT ANSWERS (PROFESSOR
VERIFIED) | ALREADY GRADED A+
Bundle of Rights - CORRECT ANSWER -Basic rights to lease or sale property
Deed - CORRECT ANSWER -Transfer of real property to a seller or a buyer at closing.
appurtenance - CORRECT ANSWER -a right, privilege, or improvement that passes with the land.
ex: trees, house
personal property - CORRECT ANSWER -easily moveable. ex: chair or desk
chattel - CORRECT ANSWER -another word for personal property
chattel mortgage - CORRECT ANSWER -property being used to security the loan would be
personal property
Bill of sale - CORRECT ANSWER -Document used to transfer personal property
Fixture - CORRECT ANSWER -real estate - at one time it was personal property but then once it
is installed or permanently apart of the property is is now real property
Trade fixture - CORRECT ANSWER -personal property - can take fixtures the tenant bought when
he moves out
Emblements - CORRECT ANSWER -Personal property - growing crops in the field but then you
move but you still have rights to the last of the crops
,Government rights: right of taxation - CORRECT ANSWER -government has the right to tax you
on your real estate to fund the local government
Government rights: police power - CORRECT ANSWER -Keeps things in order like zoning and
flooding plains
Government rights: eminent domain - CORRECT ANSWER -Right of government to take your
property or land for public use or good
Government rights: condemnation - CORRECT ANSWER -Process used with the right of Eminent
domain
Government rights: escheat - CORRECT ANSWER -When a person dies with no will or heirs the
state government receives their property
Private rights: freehold estate - CORRECT ANSWER -Ownership
Private rights: leasehold estate - CORRECT ANSWER -Tenant is leasing a home
Fee Estate - CORRECT ANSWER -Inheritable
Life estate - CORRECT ANSWER -Non-Inheritable
Life estate in reversion - CORRECT ANSWER -A person may own a home for their life time and
when that person dies the "life tenant" gets the property back a.k.a it reverts back to the
original owner
, Life estate in remainder - CORRECT ANSWER -A person dies that owns the estate and the
original owner signs it to a remainder. ex: parents or children
Homestead Exemption - CORRECT ANSWER -Owe someone money and the have a judgment
against you that person cannot force you out of your houses
Title: severalty - CORRECT ANSWER -Buys property all by yourself - one person
Title: tenancy in common - CORRECT ANSWER -One party dies, interest will go to their heirs
Title: joint tenancy - CORRECT ANSWER -4 unities to create a joint tenancy. Take title at the
same time, all on one deed, ownership interest must be equal, share the property equal, and if
a party dies the interest goes to the surviving owners, not your heirs
Title: Tenancy by entireties - CORRECT ANSWER -Tenants are married when the property is
acquired
Title: Community property - CORRECT ANSWER -Separate: before marriage
Community: during marriage
Estate for years - CORRECT ANSWER -definite beginning and ending date
Periodic tenancy - CORRECT ANSWER -Month to month lease
Tenancy at will - CORRECT ANSWER -There is nothing in writing but the landlord keeps accepting
money from the tenant
