Real Estate Law Final 2025/2026 Exam
Questions with 100% Correct Answers |
Latest Update
Due on sale - 🧠 ANSWER ✔✔Clause found in a mortgage that prohibits the
sale of the real property described in the mortgage without the lender's
consent. A sale in violation of this provision is a default of the mortgage.
Deed - 🧠 ANSWER ✔✔Written document that transfers ownership of real
property from one person to another.
Bill of sale - 🧠 ANSWER ✔✔Legal document that transfers ownership to
personal property.
Special warranty deed - 🧠 ANSWER ✔✔Deed wherein the grantor
covenants and warrants only against the lawful claims of people claiming
by, through, or under the grantor.
, Zoning - 🧠 ANSWER ✔✔Legitimate police power of government to regulate
the use of real property.
Fee simple - 🧠 ANSWER ✔✔Estate of real property with infinite duration
and no restrictions on use.
Execution - 🧠 ANSWER ✔✔Signature of a party to a legal document.
Partition - 🧠 ANSWER ✔✔Method by which co-owners of real property can
divide the common property into separate ownerships. Partition may be by
voluntary agreement or by court action.
Statute of frauds (1677, England) - 🧠 ANSWER ✔✔Provides that certain
contracts are not enforceable unless there exists some written
memorandum or agreement that is signed by the party charged to the
obligation. Basically requires that different types of contracts must be
written. a) a contract to answer for the debt of another person b) an
agreement made on consideration of marriage c) any agreement that is not
performed within one year from the date thereof d) any contract for sale of
land
Option - 🧠 ANSWER ✔✔A contract by which an owner of property
(optionor), and another person (optionee), that the optionee shall have the
Questions with 100% Correct Answers |
Latest Update
Due on sale - 🧠 ANSWER ✔✔Clause found in a mortgage that prohibits the
sale of the real property described in the mortgage without the lender's
consent. A sale in violation of this provision is a default of the mortgage.
Deed - 🧠 ANSWER ✔✔Written document that transfers ownership of real
property from one person to another.
Bill of sale - 🧠 ANSWER ✔✔Legal document that transfers ownership to
personal property.
Special warranty deed - 🧠 ANSWER ✔✔Deed wherein the grantor
covenants and warrants only against the lawful claims of people claiming
by, through, or under the grantor.
, Zoning - 🧠 ANSWER ✔✔Legitimate police power of government to regulate
the use of real property.
Fee simple - 🧠 ANSWER ✔✔Estate of real property with infinite duration
and no restrictions on use.
Execution - 🧠 ANSWER ✔✔Signature of a party to a legal document.
Partition - 🧠 ANSWER ✔✔Method by which co-owners of real property can
divide the common property into separate ownerships. Partition may be by
voluntary agreement or by court action.
Statute of frauds (1677, England) - 🧠 ANSWER ✔✔Provides that certain
contracts are not enforceable unless there exists some written
memorandum or agreement that is signed by the party charged to the
obligation. Basically requires that different types of contracts must be
written. a) a contract to answer for the debt of another person b) an
agreement made on consideration of marriage c) any agreement that is not
performed within one year from the date thereof d) any contract for sale of
land
Option - 🧠 ANSWER ✔✔A contract by which an owner of property
(optionor), and another person (optionee), that the optionee shall have the
