Prep Agent Practice Exam Terms
Questions with Correct Answers
Tenant improvement allowance - ANSWER-allowance to customize, generally for
business purposes
Subleases - ANSWER-grants possession but not responsibility
Assignment - ANSWER-grants possession and responsibility
Surrender - ANSWER-agreement to return the property to the owner (landlord)
before the lease end
Constructive eviction - ANSWER-landlord fails to do something that they have a
legal duty to provide
Title - ANSWER-ownership
Severalty - ANSWER-sole owner
Concurrent estate - ANSWER-ownership with others
Joint tenancy - ANSWER-"TTIP" time, title, interest, possession "right of
survivorship"
Tenancy in common - ANSWER-unity of possession
Community property - ANSWER-when you own property with a spouse, marriage
Encumbrances - ANSWER-burden/limitation on the land (EX: lien)
Easement - ANSWER-right to cross
Dominant tenant - ANSWER-gaining the benefit of the easement
Servient tenement - ANSWER-suffers the burden of the easement
Easement in Gross - ANSWER-no dominant tenant
Government Powers - ANSWER-Police power, escheat, eminent domain, taxation
Lien - ANSWER-money owned on the property
Voluntary lien - ANSWER-(loan) if they need to borrow money to pay it back
, Involuntary lien - ANSWER-(mechanic's lien) taxes and judgement liens
General lien - ANSWER-(taxes) coming after things above and beyond property
Specific lien - ANSWER-(loan) only lose what is owed
Police Power - ANSWER-General welfar (govt. power- zoning)
Zoning - ANSWER-Police power that divides into areas for designated uses (R1
single family, R3 multi-family residential)
Variance - ANSWER-exception to the roll
Down zoning - ANSWER-Commercial to residential
"Grandfather" clause - ANSWER-exempt from new rule
Nonconforming use - ANSWER-type of zoning variance where a parcel of land may
be given as exception from current zoning ordinances due to improvements made by
owner
Building codes - ANSWER-protect public health, safety and general welfare
Multi-family residential - ANSWER-R3
Encroaching - ANSWER-trespassing
Lis Pendens - ANSWER-Pending lawsuit (suing over ownership- divorce fighting
over who owner is)
Injunctions - ANSWER-Court order to stop
A cloud on title - ANSWER-Something affecting the title (change of names through
marriage)
A Quiet Title Action - ANSWER-lawsuit in order to establish a party's title
Alienation of title - ANSWER-capacity of property or a property right to be sold or
transferred
Title Insurance - ANSWER-ensure clear and marketable title
Standard Policy title insurance - ANSWER-defects, forged documents,
incompetence, incorrect statements or deeds
ALTA policy of title insurance - ANSWER-protects real property owners and
mortgage lenders against losses from defects in taxes
Questions with Correct Answers
Tenant improvement allowance - ANSWER-allowance to customize, generally for
business purposes
Subleases - ANSWER-grants possession but not responsibility
Assignment - ANSWER-grants possession and responsibility
Surrender - ANSWER-agreement to return the property to the owner (landlord)
before the lease end
Constructive eviction - ANSWER-landlord fails to do something that they have a
legal duty to provide
Title - ANSWER-ownership
Severalty - ANSWER-sole owner
Concurrent estate - ANSWER-ownership with others
Joint tenancy - ANSWER-"TTIP" time, title, interest, possession "right of
survivorship"
Tenancy in common - ANSWER-unity of possession
Community property - ANSWER-when you own property with a spouse, marriage
Encumbrances - ANSWER-burden/limitation on the land (EX: lien)
Easement - ANSWER-right to cross
Dominant tenant - ANSWER-gaining the benefit of the easement
Servient tenement - ANSWER-suffers the burden of the easement
Easement in Gross - ANSWER-no dominant tenant
Government Powers - ANSWER-Police power, escheat, eminent domain, taxation
Lien - ANSWER-money owned on the property
Voluntary lien - ANSWER-(loan) if they need to borrow money to pay it back
, Involuntary lien - ANSWER-(mechanic's lien) taxes and judgement liens
General lien - ANSWER-(taxes) coming after things above and beyond property
Specific lien - ANSWER-(loan) only lose what is owed
Police Power - ANSWER-General welfar (govt. power- zoning)
Zoning - ANSWER-Police power that divides into areas for designated uses (R1
single family, R3 multi-family residential)
Variance - ANSWER-exception to the roll
Down zoning - ANSWER-Commercial to residential
"Grandfather" clause - ANSWER-exempt from new rule
Nonconforming use - ANSWER-type of zoning variance where a parcel of land may
be given as exception from current zoning ordinances due to improvements made by
owner
Building codes - ANSWER-protect public health, safety and general welfare
Multi-family residential - ANSWER-R3
Encroaching - ANSWER-trespassing
Lis Pendens - ANSWER-Pending lawsuit (suing over ownership- divorce fighting
over who owner is)
Injunctions - ANSWER-Court order to stop
A cloud on title - ANSWER-Something affecting the title (change of names through
marriage)
A Quiet Title Action - ANSWER-lawsuit in order to establish a party's title
Alienation of title - ANSWER-capacity of property or a property right to be sold or
transferred
Title Insurance - ANSWER-ensure clear and marketable title
Standard Policy title insurance - ANSWER-defects, forged documents,
incompetence, incorrect statements or deeds
ALTA policy of title insurance - ANSWER-protects real property owners and
mortgage lenders against losses from defects in taxes
