OHIO REAL ESTATE FINAL EXAM 2026 ACTUAL QUESTIONS
AND ANSWERS GRADED A+
✔✔E-Sign - ✔✔Electronic signatures in global & national commerce act
✔✔UETA - ✔✔Uniform electronic transactions act -
Uniform Electronic Transactions Act. Adopted by 48 states. Among other things,
declares that a signature may not be denied legal effect or enforceability solely because
it is in electronic form
✔✔Referral Fees (43) - ✔✔Fees paid between brokers for leads. *Unlawful for a broker
to pay commission to anyone not licensed with the broker. This applies to both
salesman & brokers under the said broker.*
✔✔Transactional Broker (45) - ✔✔Helps the buyer & the seller with the necessary
paperwork & formalities involved in transferring ownership of real property. The buyer &
seller negotiate the sale w/o representation. *Transactional brokers are not permitted
under Ohio law.*
✔✔Procuring Cause of Sale - ✔✔To be procuring cause, the broker must have started a
chain of events that resulted in a sale.
✔✔MARIA (Test for Fixture) - ✔✔-Method
-Adaptation
-Relationship
-Intention
-Agreement
✔✔Real Property - ✔✔All property that is not personal property. Includes land plus
improvements, rights, appurtenances and fixtures. Immovable by law.
✔✔Bundle of Rights - ✔✔The concept of land ownership that includes ownership of all
legal rights to the land. The five rights are possession, control, enjoyment, exclusion,
disposition.
✔✔Riparian Rights - ✔✔A legal right of a landowner who owns land next to a natural
watercourse to reasonable use of whatever water flows past the property.
✔✔Appurtenances - ✔✔Any right or restriction that goes with property i.e easement.
*"Runs with the Land"*
✔✔Freehold Estate - ✔✔a possessory interest that has an indeterminable duration.
, ✔✔Fee Simple Estate - ✔✔The greatest interest that one can have in real property. An
estate that is unqualified, of indefinite duration, freely transferable and inheritable. May
be held in 3 different ways:
- *Severalty*
- *Co- Ownership* (different types)
- *In Trust*
✔✔Fee Simple Defeasible - ✔✔a free hold estate that has limitations on ownership.
*"On the condition that"* for example a grant of land on the condition that no alcohol be
consumed on the premise.
✔✔Life Estate - ✔✔A freehold estate in land that is limited in duration to the life of the
owner or to the life or lives of some other designated person or persons.
✔✔Less than Freehold Estate - ✔✔A Less than freehold estate is an estate held by one
who rents or leases property.
✔✔Estate for Years - ✔✔Leasehold interest for specific period of time; definite
beginning, definite ending; not terminated by death of either party, nor sale of property;
no notice required
✔✔Types of Ownerships (Fee Simple Estates - pages 177-184) - ✔✔*Ownership in
Severalty*
*Co-Ownership*
-Tenancy in Common (0 right of survivorship)
-Statutory Survivorship Tenancy (replaced Joint T. & T. by the Entirety)
-Joint Tenancy (Not available in Ohio)
-Tenancy by the Entirety (Grandfathered in Ohio)
-Community Property (Ohio not a community prop. State)
*In Trust*
✔✔Requirements of a Valid *Deed* - ✔✔1. Grantor's Signature
2. Identifiable Grantee
3. Words of Conveyance
4. Description
5. Consideration
6. Acknowledgment
7. Delivery & Acceptance.
✔✔Types of *Deeds* - ✔✔*Warranty Deeds*
-General Warranty Deed
-Limited Warranty Deed
AND ANSWERS GRADED A+
✔✔E-Sign - ✔✔Electronic signatures in global & national commerce act
✔✔UETA - ✔✔Uniform electronic transactions act -
Uniform Electronic Transactions Act. Adopted by 48 states. Among other things,
declares that a signature may not be denied legal effect or enforceability solely because
it is in electronic form
✔✔Referral Fees (43) - ✔✔Fees paid between brokers for leads. *Unlawful for a broker
to pay commission to anyone not licensed with the broker. This applies to both
salesman & brokers under the said broker.*
✔✔Transactional Broker (45) - ✔✔Helps the buyer & the seller with the necessary
paperwork & formalities involved in transferring ownership of real property. The buyer &
seller negotiate the sale w/o representation. *Transactional brokers are not permitted
under Ohio law.*
✔✔Procuring Cause of Sale - ✔✔To be procuring cause, the broker must have started a
chain of events that resulted in a sale.
✔✔MARIA (Test for Fixture) - ✔✔-Method
-Adaptation
-Relationship
-Intention
-Agreement
✔✔Real Property - ✔✔All property that is not personal property. Includes land plus
improvements, rights, appurtenances and fixtures. Immovable by law.
✔✔Bundle of Rights - ✔✔The concept of land ownership that includes ownership of all
legal rights to the land. The five rights are possession, control, enjoyment, exclusion,
disposition.
✔✔Riparian Rights - ✔✔A legal right of a landowner who owns land next to a natural
watercourse to reasonable use of whatever water flows past the property.
✔✔Appurtenances - ✔✔Any right or restriction that goes with property i.e easement.
*"Runs with the Land"*
✔✔Freehold Estate - ✔✔a possessory interest that has an indeterminable duration.
, ✔✔Fee Simple Estate - ✔✔The greatest interest that one can have in real property. An
estate that is unqualified, of indefinite duration, freely transferable and inheritable. May
be held in 3 different ways:
- *Severalty*
- *Co- Ownership* (different types)
- *In Trust*
✔✔Fee Simple Defeasible - ✔✔a free hold estate that has limitations on ownership.
*"On the condition that"* for example a grant of land on the condition that no alcohol be
consumed on the premise.
✔✔Life Estate - ✔✔A freehold estate in land that is limited in duration to the life of the
owner or to the life or lives of some other designated person or persons.
✔✔Less than Freehold Estate - ✔✔A Less than freehold estate is an estate held by one
who rents or leases property.
✔✔Estate for Years - ✔✔Leasehold interest for specific period of time; definite
beginning, definite ending; not terminated by death of either party, nor sale of property;
no notice required
✔✔Types of Ownerships (Fee Simple Estates - pages 177-184) - ✔✔*Ownership in
Severalty*
*Co-Ownership*
-Tenancy in Common (0 right of survivorship)
-Statutory Survivorship Tenancy (replaced Joint T. & T. by the Entirety)
-Joint Tenancy (Not available in Ohio)
-Tenancy by the Entirety (Grandfathered in Ohio)
-Community Property (Ohio not a community prop. State)
*In Trust*
✔✔Requirements of a Valid *Deed* - ✔✔1. Grantor's Signature
2. Identifiable Grantee
3. Words of Conveyance
4. Description
5. Consideration
6. Acknowledgment
7. Delivery & Acceptance.
✔✔Types of *Deeds* - ✔✔*Warranty Deeds*
-General Warranty Deed
-Limited Warranty Deed
