Wisconsin real estate test questions with correct answers

Fee Simple Defeasible Estate CORRECT ANSWER An estate of inheritance that may be nullified upon the occurrence or non-occurrence of a particular event. Escheat CORRECT ANSWER The reversion of property to the state or county, as provided by state law, in cases where a decedent dies intestate and there are no heirs. Freehold Estate CORRECT ANSWER An estate in land characterized by an interest in something immobile and of an indefinite duration Common Elements CORRECT ANSWER All real property in a condominium development that is not described as a unit. Fixtures CORRECT ANSWER An article that was once personal property but has been so affixed to real estate that it has become real property. Severalty CORRECT ANSWER Sole ownership of real property. Probate CORRECT ANSWER Formal judicial proceedings to prove or confirm the validity of a will, to collect the assets of a decedent's estate, to pay debts and taxes, and to determine the persons to whom the remainder of the estate is to pass Partition Suit CORRECT ANSWER A court process that divides co-tenants interests in real property when the parties do not all voluntarily agree to terminate the co-ownership. Lessor CORRECT ANSWER Property owner who le