NJ Title Producer Terms & Concepts Questions and Complete Solutions Graded A+

NJ Title Producer
Terms & Concepts
Questions and
Complete Solutions
Graded A+
Denning [Date] [Course title]

, Feudal - Answer: Royalty



Alloidial - Answer: Commoner



Title ensures your "Bundle of Rights" - Answer: "PoCoEnD"

- Possession

- Control

- Enjoyment

- Disposition, Devise (to convey real property in a will)



Government Reserved Rights - Answer: "PETE"; Police Power, Eminent Domain, Taxation, Escheat



Police Power - Answer: Right of govt. to enact and enforce laws that restrict use of property without
compensation to the owner for general public welfare....Ex. Zoning Laws



Eminent Domain - Answer: Right of government to take private property when needed for some
worthwhile public use



Condemnation - Answer: Legal proceeding to take property. Owner is paid fair market value



Taxation (as a reserved right of govt.) - Answer: Shared cost of running government



Escheat - Answer: Reversion of property to government when owner dies and leaves no heirs to inherit
property



Mineral rights or Sub-surface rights - Answer: Beneath the surface



Estate - Answer: Legal or possessory right



Tenancy - Answer: Same as ESTATE