Bermuda Real Estate Exam 2026
Questions and Answers
Defect/Cloud in the title - Correct answer-Conflicting claims that prevent the
absolute legal conveyance of CLEAR TITLE
Period to Period is a type of leasehold that: - Correct answer-Has no specific
expiration but the length is specified (like a month to month lease)
Net Lease - Correct answer-lease in which the tenant pays some or all of the
operating expenses of the property in addition to rent. Often commercial.
Adverse Possession - Correct answer-A person takes possession & use of a
property belonging to another. Possession must be open, notorious, hostile &
uninterrupted for a certain period of time.
Estoppel - Correct answer-Legal bar that prevents contradictions. Often a
document that 'stops' prevents people from contradicting earlier agreements or
statements
Conformity appraisal method - Correct answer-Orchard in the midst of a housing
development
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,Anticipation value - Correct answer-Valued on future income.
nonrecourse loan - Correct answer-a loan that carries neither a penalty nor further
obligation to repay if not paid back
Government Rectangular Survey System - Correct answer-
Land (Definition) - Correct answer-immobility, permanence, uniqueness,
indestructablity
Annexation - Correct answer-term by attachment becomes real property
Severance - Correct answer-term by separating a fixture from real property
becomes personal property
Monument - Correct answer-landmark natural or stake to mark a boundry
Fee Simple Absolute - Correct answer-No conditions on use or transfer
alienation of title - Correct answer-A change of ownership. May be voluntary (sold
the property) or involuntary (foreclosure sale).
testate - Correct answer-having a will
Intestate Succession - Correct answer-the method used to distribute property
owned by a person who dies without a valid will
nuncupative will - Correct answer-an oral will
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,Holographic Will - Correct answer-A will written entirely by the testator with his
own hand.
devise - Correct answer-real property disposed of in a will
Adverse Possession - Correct answer-The actual, open, notorious, hostile, and
continuous possession of another's land under a claim of title, must be 20 years.
Redemption - Correct answer-mortgage default then payoff and claim back
property
balance app - Correct answer-
Friendly Foreclosure - Correct answer-deed in lieu of foreclosure
forebearance - Correct answer-work out loan for debt
Tenants in Common - Correct answer-shared ownership of a single property among
two or more persons; interests need not be equal and no right of survivorship
exists. FRACTIONAL
Joint Tenancy - Correct answer-A form of co-ownership that includes the right of
survivorship. EQUAL
foreshore encroachments - Correct answer-docks
foreshore lease - Correct answer-21 years
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, Non-conforming use - Correct answer-Use after a zoning change - grandfathered
(BEFORE ZONING)
Variance - Correct answer-Added after zoning in place - granted (AFTER
ZONING)
Conditional use - Correct answer-permitted use that can be revoked
Spot zoning - Correct answer-a change in the zoning ordinance for a particular area
buffer zone - Correct answer-new industrial park and zone space between
Special assessment - Correct answer-Tax only on property directly benefiting from
an improvement
Constructive Notice - Correct answer-Notice given by recorded documents.
Revealed in Due Diligence search.
Escalator Clause Lease - Correct answer-
Actual Notice - Correct answer-Personally given to somebody/ signed for
Priority of Liens - Correct answer-Based on time or date of recording
Equitable liens - Correct answer-Court order
Statutory liens - Correct answer-automatic - tax
easement (ingress, egress, regress) - Correct answer-easement (enter, exit, reenter)
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
Questions and Answers
Defect/Cloud in the title - Correct answer-Conflicting claims that prevent the
absolute legal conveyance of CLEAR TITLE
Period to Period is a type of leasehold that: - Correct answer-Has no specific
expiration but the length is specified (like a month to month lease)
Net Lease - Correct answer-lease in which the tenant pays some or all of the
operating expenses of the property in addition to rent. Often commercial.
Adverse Possession - Correct answer-A person takes possession & use of a
property belonging to another. Possession must be open, notorious, hostile &
uninterrupted for a certain period of time.
Estoppel - Correct answer-Legal bar that prevents contradictions. Often a
document that 'stops' prevents people from contradicting earlier agreements or
statements
Conformity appraisal method - Correct answer-Orchard in the midst of a housing
development
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,Anticipation value - Correct answer-Valued on future income.
nonrecourse loan - Correct answer-a loan that carries neither a penalty nor further
obligation to repay if not paid back
Government Rectangular Survey System - Correct answer-
Land (Definition) - Correct answer-immobility, permanence, uniqueness,
indestructablity
Annexation - Correct answer-term by attachment becomes real property
Severance - Correct answer-term by separating a fixture from real property
becomes personal property
Monument - Correct answer-landmark natural or stake to mark a boundry
Fee Simple Absolute - Correct answer-No conditions on use or transfer
alienation of title - Correct answer-A change of ownership. May be voluntary (sold
the property) or involuntary (foreclosure sale).
testate - Correct answer-having a will
Intestate Succession - Correct answer-the method used to distribute property
owned by a person who dies without a valid will
nuncupative will - Correct answer-an oral will
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
,Holographic Will - Correct answer-A will written entirely by the testator with his
own hand.
devise - Correct answer-real property disposed of in a will
Adverse Possession - Correct answer-The actual, open, notorious, hostile, and
continuous possession of another's land under a claim of title, must be 20 years.
Redemption - Correct answer-mortgage default then payoff and claim back
property
balance app - Correct answer-
Friendly Foreclosure - Correct answer-deed in lieu of foreclosure
forebearance - Correct answer-work out loan for debt
Tenants in Common - Correct answer-shared ownership of a single property among
two or more persons; interests need not be equal and no right of survivorship
exists. FRACTIONAL
Joint Tenancy - Correct answer-A form of co-ownership that includes the right of
survivorship. EQUAL
foreshore encroachments - Correct answer-docks
foreshore lease - Correct answer-21 years
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, Non-conforming use - Correct answer-Use after a zoning change - grandfathered
(BEFORE ZONING)
Variance - Correct answer-Added after zoning in place - granted (AFTER
ZONING)
Conditional use - Correct answer-permitted use that can be revoked
Spot zoning - Correct answer-a change in the zoning ordinance for a particular area
buffer zone - Correct answer-new industrial park and zone space between
Special assessment - Correct answer-Tax only on property directly benefiting from
an improvement
Constructive Notice - Correct answer-Notice given by recorded documents.
Revealed in Due Diligence search.
Escalator Clause Lease - Correct answer-
Actual Notice - Correct answer-Personally given to somebody/ signed for
Priority of Liens - Correct answer-Based on time or date of recording
Equitable liens - Correct answer-Court order
Statutory liens - Correct answer-automatic - tax
easement (ingress, egress, regress) - Correct answer-easement (enter, exit, reenter)
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
