CT Real Estate Exam UPDATED ACTUAL
Exam Questions and CORRECT Answers
Deed vs Bill of Sale - CORRECT ANSWER - -Deed is receipt for Real Property
-Bill of Sale is for Personal Property
Real Estate vs Property - CORRECT ANSWER - Both include land + improvements, real
property includes benefits and interests
Estate Time - CORRECT ANSWER - how long you own it
-Forever, freehold (fee simple)
-Lifetime (ordinary)
-<Lifetime (Leasehold)
Fee simple - CORRECT ANSWER - highest type of interest in real estate recognized by
law. the owner is entitled to all rights in the property
Freehold Estate - CORRECT ANSWER - An estate in land in which ownership is for an
indeterminate length of time, in contrast to a leasehold estate.
-May be defeasible with special limitations or conditional provisions
Life Estate - CORRECT ANSWER - An interest in real or personal property that is limited
in duration to the lifetime of its owner or some other designated person or persons.
Pur Autre Vie - CORRECT ANSWER - "For the life of another." A life estate pur autre vie
is a life estate that is measured by the life of a person other than the grantee
Dower vs Curtesy - CORRECT ANSWER - Dower
-husbands life estate from deceased wife
,Curtesy
-wife's life estate from deceased husband
Homestead - CORRECT ANSWER - a family home and its surrounding lands
Lease vs Rental - CORRECT ANSWER - Rental is <= 2 yrs, lease > 2 yrs
What Areas of R.E. Specialization need a License? - CORRECT ANSWER - -Brokerage
-Broker
-Salesperson
-Property Manager
-Developer
-Appraiser
-Home Inspector
Encumbrances - CORRECT ANSWER - A charge, claim, or liability that attaches to and is
binding on real estate
-unless cleared prior to sale, it continues in effect
-Types:
--Deed restrictions
--Easements
--Encroachments
Lien - CORRECT ANSWER - A charge against property that provides security for a debt
or an obligation of the property owner.
Specific vs General Lien - CORRECT ANSWER - specific - relates to specific property
general - relates to all of the debtors property
, Easement - CORRECT ANSWER - right required by one party to use land of another for
specific purpose
Easement Appurtenant - CORRECT ANSWER - Easement annexed to ownership & "run
with the land". An easement created to benefit adjacent land. Tract over which easement runs is
called servient tenement, tract that benefits is called dominant tenement
Easement in Gross - CORRECT ANSWER - mere personal interest or right to use land of
another, no dominant tenement, just servient
-i.e. utilities
Easement in Personal Gross - CORRECT ANSWER - neighbors, well water, parked car...
dies with owner
Easement by necessity - CORRECT ANSWER - An easement allowed by law as necessary
for the full enjoyment of a parcel of real estate. arises when there is no other access to a property
by a street or public way
encroachment - CORRECT ANSWER - intrusion on a person's territory, rights, etc.
Lis Pendens - CORRECT ANSWER - A recorded legal document giving constructive
notice that an action affecting a particular property has been filed in either a state or a federal
court.
-affecting title of property
Life tenant - CORRECT ANSWER - interest in real property is time-ownership interest
Land Ownership - CORRECT ANSWER - Air, water, surface, subsurface
Exam Questions and CORRECT Answers
Deed vs Bill of Sale - CORRECT ANSWER - -Deed is receipt for Real Property
-Bill of Sale is for Personal Property
Real Estate vs Property - CORRECT ANSWER - Both include land + improvements, real
property includes benefits and interests
Estate Time - CORRECT ANSWER - how long you own it
-Forever, freehold (fee simple)
-Lifetime (ordinary)
-<Lifetime (Leasehold)
Fee simple - CORRECT ANSWER - highest type of interest in real estate recognized by
law. the owner is entitled to all rights in the property
Freehold Estate - CORRECT ANSWER - An estate in land in which ownership is for an
indeterminate length of time, in contrast to a leasehold estate.
-May be defeasible with special limitations or conditional provisions
Life Estate - CORRECT ANSWER - An interest in real or personal property that is limited
in duration to the lifetime of its owner or some other designated person or persons.
Pur Autre Vie - CORRECT ANSWER - "For the life of another." A life estate pur autre vie
is a life estate that is measured by the life of a person other than the grantee
Dower vs Curtesy - CORRECT ANSWER - Dower
-husbands life estate from deceased wife
,Curtesy
-wife's life estate from deceased husband
Homestead - CORRECT ANSWER - a family home and its surrounding lands
Lease vs Rental - CORRECT ANSWER - Rental is <= 2 yrs, lease > 2 yrs
What Areas of R.E. Specialization need a License? - CORRECT ANSWER - -Brokerage
-Broker
-Salesperson
-Property Manager
-Developer
-Appraiser
-Home Inspector
Encumbrances - CORRECT ANSWER - A charge, claim, or liability that attaches to and is
binding on real estate
-unless cleared prior to sale, it continues in effect
-Types:
--Deed restrictions
--Easements
--Encroachments
Lien - CORRECT ANSWER - A charge against property that provides security for a debt
or an obligation of the property owner.
Specific vs General Lien - CORRECT ANSWER - specific - relates to specific property
general - relates to all of the debtors property
, Easement - CORRECT ANSWER - right required by one party to use land of another for
specific purpose
Easement Appurtenant - CORRECT ANSWER - Easement annexed to ownership & "run
with the land". An easement created to benefit adjacent land. Tract over which easement runs is
called servient tenement, tract that benefits is called dominant tenement
Easement in Gross - CORRECT ANSWER - mere personal interest or right to use land of
another, no dominant tenement, just servient
-i.e. utilities
Easement in Personal Gross - CORRECT ANSWER - neighbors, well water, parked car...
dies with owner
Easement by necessity - CORRECT ANSWER - An easement allowed by law as necessary
for the full enjoyment of a parcel of real estate. arises when there is no other access to a property
by a street or public way
encroachment - CORRECT ANSWER - intrusion on a person's territory, rights, etc.
Lis Pendens - CORRECT ANSWER - A recorded legal document giving constructive
notice that an action affecting a particular property has been filed in either a state or a federal
court.
-affecting title of property
Life tenant - CORRECT ANSWER - interest in real property is time-ownership interest
Land Ownership - CORRECT ANSWER - Air, water, surface, subsurface
