NJ TITLE INSURANCE 2025 EXAM GRADED A+ LATEST UPDATE.
1. Abandonment ANS >> when someone with legal possession of property leaves
without intention of reclaiming rights
2. abstract of title ANS >> A summary of the title history including all encumbrances
3. Acceleration clause ANS >> Mortgage clause demanding full payment upon
default
4. accretion ANS >> New land added by the elements, such as a river delta
5. Accrued Depreciation ANS >> Total of all deterioration and obsolescence on a
property
6. Acknowledgment ANS >> witnessing of an instrument by an officer of the court
7. Actual Authority ANS >> Authority directly by contract
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, 8. Adjustable Rate Mortgage (ARM) ANS >> Interest rates fluctuate based on a
predeter- mined measurement of the marketplace and time period
9. ADHESION CONTRACT ANS >> A non negotiable contract with terms dictated
by one company
10. ADMINISTRATOR ANS >> Appointed by the court to execute the estate of an
intestate
11. ADMINISTRATOR'S DEED ANS >> Transfers title of an intestate by the
administrator
12. AD VALOREMTAXES ANS >> Based on property value as the general
assessment tax
13. ADVERSE POSSESSION ANS >> Claim to title through continuous, open and
hostile occupancy
14. AFFIDAVIT OF TITLE ANS >> A sworn statement of ownership by the seller at
closing. immediately on default
15. agency ANS >> Principal and agent agreement, allowing the agent to
represent the principal's interest in dealing with third parties.
16. agreement of sale ANS >> Contract for the sale of real estate
17. air rights ANS >> rights to space above the property
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, 18. Aleatory Contract ANS >> A contract based upon future uncertain conditions
19. Alien Title ANS >> A company formed under laws of another nation
20. ALIENATION CLAUSE ANS >> A provision in a mortgage requiring full
payment of the debt upon the transfer of title to the property, due on sale.
Prevents loan assumptions.
21. ALLODIAL SYSTEM ANS >> A system of land ownership which recognizes the
right of individuals to own land independently of political superiors, but allows the
govern- ment to retain the rights of eminent domain, police power, taxation and
escheat.
22. alluvion ANS >> A gradual increase or decrease in land that will change the
property lines (for example, as when a stream that serves as a property line slowly
changes course).
23. alta ANS >> american land title aassociation
24. Amendatory clause ANS >> states that a buyer getting an FHA/VA loan can
rescind the contract if the appraisal is lower than the purchase price. escape
clause
25. Americans with Disabilities Act (ADA) ANS >> Legislation passed in 1990
that pro- hibits discrimination against people with disabilities. Under this Act,
discrimination
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1. Abandonment ANS >> when someone with legal possession of property leaves
without intention of reclaiming rights
2. abstract of title ANS >> A summary of the title history including all encumbrances
3. Acceleration clause ANS >> Mortgage clause demanding full payment upon
default
4. accretion ANS >> New land added by the elements, such as a river delta
5. Accrued Depreciation ANS >> Total of all deterioration and obsolescence on a
property
6. Acknowledgment ANS >> witnessing of an instrument by an officer of the court
7. Actual Authority ANS >> Authority directly by contract
mailto:https://www.stuvia.com/user/techgrades
, 8. Adjustable Rate Mortgage (ARM) ANS >> Interest rates fluctuate based on a
predeter- mined measurement of the marketplace and time period
9. ADHESION CONTRACT ANS >> A non negotiable contract with terms dictated
by one company
10. ADMINISTRATOR ANS >> Appointed by the court to execute the estate of an
intestate
11. ADMINISTRATOR'S DEED ANS >> Transfers title of an intestate by the
administrator
12. AD VALOREMTAXES ANS >> Based on property value as the general
assessment tax
13. ADVERSE POSSESSION ANS >> Claim to title through continuous, open and
hostile occupancy
14. AFFIDAVIT OF TITLE ANS >> A sworn statement of ownership by the seller at
closing. immediately on default
15. agency ANS >> Principal and agent agreement, allowing the agent to
represent the principal's interest in dealing with third parties.
16. agreement of sale ANS >> Contract for the sale of real estate
17. air rights ANS >> rights to space above the property
mailto:https://www.stuvia.com/user/techgrades
, 18. Aleatory Contract ANS >> A contract based upon future uncertain conditions
19. Alien Title ANS >> A company formed under laws of another nation
20. ALIENATION CLAUSE ANS >> A provision in a mortgage requiring full
payment of the debt upon the transfer of title to the property, due on sale.
Prevents loan assumptions.
21. ALLODIAL SYSTEM ANS >> A system of land ownership which recognizes the
right of individuals to own land independently of political superiors, but allows the
govern- ment to retain the rights of eminent domain, police power, taxation and
escheat.
22. alluvion ANS >> A gradual increase or decrease in land that will change the
property lines (for example, as when a stream that serves as a property line slowly
changes course).
23. alta ANS >> american land title aassociation
24. Amendatory clause ANS >> states that a buyer getting an FHA/VA loan can
rescind the contract if the appraisal is lower than the purchase price. escape
clause
25. Americans with Disabilities Act (ADA) ANS >> Legislation passed in 1990
that pro- hibits discrimination against people with disabilities. Under this Act,
discrimination
mailto:https://www.stuvia.com/user/techgrades
