Real Estate Law UPDATED ACTUAL
Questions and CORRECT Answers
Real Property - CORRECT ANSWER -Interests, benefits, and rights associated with real
estate ownership
Counter Offer - CORRECT ANSWER -A new offer made as a reply to an offer recieved.
It has the effect of rejecting the original offer, which cannot be accepted thereafter unless revived
by the offeror.
Improvement - CORRECT ANSWER -Any valuable addition made to real property that
goes beyond mere repair or replacements.
Tenancy in Common - CORRECT ANSWER -A form of joint ownership of property by 2
or more persons with undevided shares; ownership passes by devise or decent instead of by
survivorship.
Small Claims Court - CORRECT ANSWER -a court in which a civil action for a small a
amount, typically up to $3,000, can be filed
Tenant's Fixture - CORRECT ANSWER -Fixture to remain personal property of a tenant
upon lease termination.
Recorder of Deeds - CORRECT ANSWER -the county office in which matters relating to
the real estate located within that county are filed.
Limited Warrenty - CORRECT ANSWER -Favors the grantor.
Transfer on Death Affidavit - CORRECT ANSWER -Beneficiary only owns if the grantor
hasn't sold the property before the grantor dies.
, Civil Court - CORRECT ANSWER -disagreement or dispute between two people that
doesn't violate the law
Criminal Court - CORRECT ANSWER -When someone breaks or violates the law
Easement by Perscription - CORRECT ANSWER -when someone has made use of
anothers land and that person knows or should have known, but the use happens for 10-21 years
then that person gets the land.
Sued by State - CORRECT ANSWER -28 days to answer or you've lost the case.
Estate by Survivorship Deed - CORRECT ANSWER -No longer exists unless it was
created before 1974.
Novation - CORRECT ANSWER -the substitution of a new contract in place of the
original
Ohio Revised Code - CORRECT ANSWER -Series of books that constitude our system of
law.
Fee Simple Absolute - CORRECT ANSWER -Ownership of land by a person, subject
only to private and public controls. Least restricted and most desirable form of ownership.
Fixture - CORRECT ANSWER -Once personal property, but has become part of the real
property according to the fixture tests, that is attachment, adaptation to use, and intent of
landowner.
Statutory Survivorship Tenancy - CORRECT ANSWER -A way under state statute for
two or more persons to hold title to real estate with one another; upon the death of any one of the
tenants, the decedent's interest passes to the survivor.
Questions and CORRECT Answers
Real Property - CORRECT ANSWER -Interests, benefits, and rights associated with real
estate ownership
Counter Offer - CORRECT ANSWER -A new offer made as a reply to an offer recieved.
It has the effect of rejecting the original offer, which cannot be accepted thereafter unless revived
by the offeror.
Improvement - CORRECT ANSWER -Any valuable addition made to real property that
goes beyond mere repair or replacements.
Tenancy in Common - CORRECT ANSWER -A form of joint ownership of property by 2
or more persons with undevided shares; ownership passes by devise or decent instead of by
survivorship.
Small Claims Court - CORRECT ANSWER -a court in which a civil action for a small a
amount, typically up to $3,000, can be filed
Tenant's Fixture - CORRECT ANSWER -Fixture to remain personal property of a tenant
upon lease termination.
Recorder of Deeds - CORRECT ANSWER -the county office in which matters relating to
the real estate located within that county are filed.
Limited Warrenty - CORRECT ANSWER -Favors the grantor.
Transfer on Death Affidavit - CORRECT ANSWER -Beneficiary only owns if the grantor
hasn't sold the property before the grantor dies.
, Civil Court - CORRECT ANSWER -disagreement or dispute between two people that
doesn't violate the law
Criminal Court - CORRECT ANSWER -When someone breaks or violates the law
Easement by Perscription - CORRECT ANSWER -when someone has made use of
anothers land and that person knows or should have known, but the use happens for 10-21 years
then that person gets the land.
Sued by State - CORRECT ANSWER -28 days to answer or you've lost the case.
Estate by Survivorship Deed - CORRECT ANSWER -No longer exists unless it was
created before 1974.
Novation - CORRECT ANSWER -the substitution of a new contract in place of the
original
Ohio Revised Code - CORRECT ANSWER -Series of books that constitude our system of
law.
Fee Simple Absolute - CORRECT ANSWER -Ownership of land by a person, subject
only to private and public controls. Least restricted and most desirable form of ownership.
Fixture - CORRECT ANSWER -Once personal property, but has become part of the real
property according to the fixture tests, that is attachment, adaptation to use, and intent of
landowner.
Statutory Survivorship Tenancy - CORRECT ANSWER -A way under state statute for
two or more persons to hold title to real estate with one another; upon the death of any one of the
tenants, the decedent's interest passes to the survivor.
