Barney Fletcher Real Estate Exam Questions With Correct Answers

Barney Fletcher Real Estate Exam Questions
With Correct Answers

Assemblage |- |CORRECT |ANSWER✔✔-combining |two |or |more |contiguous |parcels |of |real |estate
|into |a |single |parcel |under |one |ownership




plottage |- |CORRECT |ANSWER✔✔-an |increase |in |value |resulting |from |assemblage



fixture |- |CORRECT |ANSWER✔✔-personal |property |that |is |permanently |attached |to |real |
property |and |goes |with |the |property |when |its |sold



what |makes |something |a |fixture |- |CORRECT |ANSWER✔✔-if |object |was |fixed |or |installed |with |
the |intention |of |improving |the |home



appurtenances |- |CORRECT |ANSWER✔✔-when |new |fixtures |are |attached |ex. |heat/air, |roof



have |brokers |license |but |are |working |for |another |broker |- |CORRECT |ANSWER✔✔-associate |
broker



principal/employing |broker |- |CORRECT |ANSWER✔✔-in |charge |of |and |responsible |for |all |real |
estate |operations |conducted |by |a |real |estate |brokerage |firm



which |type |of |land |description |are |the |properties |described |as |they |relate |to |meridians |- |
CORRECT |ANSWER✔✔-government |/ |rectangular |survey



alienation |of |title |- |CORRECT |ANSWER✔✔-any |change |of |ownership |- |transferring |ownership |
rights |or |interests |in |real |property |from |one |person |to |another

,legal |title |- |CORRECT |ANSWER✔✔-right |of |ownership |of |a |parcel |of |real |property |held |by |an |
owner



equitable |title |- |CORRECT |ANSWER✔✔-interest |in |a |piece |of |real |estate |held |by |a |buyer |held |
under |a |contract |to |obtain |absolute |ownership |of |the |property |at |a |future |date



bare |legal |title |- |CORRECT |ANSWER✔✔-lacks |the |usual |rights |and |privileges |associated |with |
ownership



constructive |notice |- |CORRECT |ANSWER✔✔-information |has |been |made |available |to |the |
public



inquiry |notice |- |CORRECT |ANSWER✔✔-when |factors |exist |that |make |someone |inquire |further

ex. |dirt |road |running |across |you |would |inquire |whether |there |is |an |easement |in |place



marketable |title |- |CORRECT |ANSWER✔✔-a |title |free |from |reasonable |doubt |as |to |who |the |
owner |is



abstract |of |title |- |CORRECT |ANSWER✔✔-detailed |report |of |the |title |search



torrens |system |- |CORRECT |ANSWER✔✔-an |owner |petitions |the |state |court |to |register |his |
property

transfer |of |land



allodial |system |- |CORRECT |ANSWER✔✔-individuals |are |able |to |own |land

, eminent |domain |- |CORRECT |ANSWER✔✔-right |of |govs |to |assume |property |for |necessary |
public |use



escheat |- |CORRECT |ANSWER✔✔-power |the |gov |has |when |someone |dies |intestate |and |leaves |
no |known |heirs



PETE |- |powers |of |gov |over |title |- |CORRECT |ANSWER✔✔-police |power, |eminent |domain, |
taxation, |escheat



encroachment |- |CORRECT |ANSWER✔✔-unauthorized |infringement |on |a |property |owners |
rights |as |a |result |of |physical |intrusion



freehold |estate |- |CORRECT |ANSWER✔✔-highest |and |most |complete |form |of |ownership



seisin |- |CORRECT |ANSWER✔✔-possession |of |freehold |estate



qualified |fee |estate |- |CORRECT |ANSWER✔✔-a |fee |simple |estate |that |has |certain |limitations |/ |
qualifications

- |owner |holds |fee |simple |title



defeasible |- |CORRECT |ANSWER✔✔-capable |of |being |voided/defeated



life |estate |- |CORRECT |ANSWER✔✔-fee |simple |estate |that |is |conveyed |to |a |person |for |the |
duration |of |their |life



remainder |estate |- |CORRECT |ANSWER✔✔-future |interest |in |real |estate |created |at |same |time |
and |by |same |instrument |as |other |state