1|Page
Texas Principles of Real Estate 1 With 250 Questions
and Correct Detailed Answers / TX Principles of
Real Estate Exam Real Qs and Correct Answers/
AYPO
abandonment - ...ANSWER...✓✓ the voluntary surrender
or relinquishment of possession of real property with the
intention of terminating one's possession or interest but
without the vesting of this interest in any other person,
such as when a person moves and abandons leased
property before the lease term has expired.
abatement - ...ANSWER...✓✓ elimination or reduction of
real estate taxes to attract new business to an area.
abstract of title - ...ANSWER...✓✓ the condensed history
of a title to a particular parcel of real estate, consisting of
a summary of the original grant and all subsequent
conveyances and encumbrances affecting the property
and a certification by the abstractor that the history is
complete and accurate.
abstract of title with lawyers opinion - ...ANSWER...✓✓ an
abstract of title that a lawyer has examined and has
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certified to be, in his or her opinion, an accurate
statement of fact.
acceleration clause - ...ANSWER...✓✓ the clause in a
mortgage or trust deed or note that can be enforced to
make the entire amount of principal and interest due
immediately if the mortgagor defaults on an installment
payment or other covenant.
accession - ...ANSWER...✓✓ acquiring title to additions or
improvements to real property as a result of the
annexation of fixtures or the accretion of alluvial deposits
along the banks of streams.
accretion - ...ANSWER...✓✓ the increase or addition of
land by the deposit of sand or soil washed up naturally
from a river, lake, or sea.
accrued items - ...ANSWER...✓✓ on a closing statement,
the items of expense that are incurred but not yet
payable, such as interest on a mortgage loan or taxes on
real property.
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acknowledgement - ...ANSWER...✓✓ a formal declaration
before a notary public or other authorized public officer
that authenticates signatures on a document for the
purpose of recording.
acre - ...ANSWER...✓✓ a measure of land equal to 43,560
square feet, 4,840 square yards, 4,047 square meters, 160
square rods, or 0.4047 hectare.
actual eviction - ...ANSWER...✓✓ the result of legal
action, originated by a lessor, whereby a defaulted tenant
is physically ousted from the rented property pursuant to
a court order. See also eviction.
actual notice - ...ANSWER...✓✓ express information or
fact; that which is known; direct knowledge.
adjustable-rate mortgage (ARM) - ...ANSWER...✓✓ a
mortgage loan in which the interest rate may increase or
decrease at specified intervals over the life of the loan.
adjusted basis - ...ANSWER...✓✓ the dollar amount
associated with an asset to determine annual
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depreciation and gain or loss on the sale of the asset, the
owner's basis is the cost of the property; ADDING the
value of any capital expenditures for improvements to the
property and subtracting any depreciation claimed as a
tax deduction yields the adjusted basis.
adjusted sales price - ...ANSWER...✓✓ for income tax
purposes, the actual sales price reduced by allowable
sales expenses.
administrator - ...ANSWER...✓✓ a man appointed by a
court to settle the estate of a deceased person when
there is no will; contrast with executor.
administratrix - ...ANSWER...✓✓ a woman appointed by a
court to settle the estate of a deceased person when
there is no will; contrast with executrix.
ad valorem tax - ...ANSWER...✓✓ a tax levied according
to value; generally used to refer to real estate tax.
adverse possession - ...ANSWER...✓✓ the actual, visible,
hostile, notorious, exclusive, and continuous possession
Texas Principles of Real Estate 1 With 250 Questions
and Correct Detailed Answers / TX Principles of
Real Estate Exam Real Qs and Correct Answers/
AYPO
abandonment - ...ANSWER...✓✓ the voluntary surrender
or relinquishment of possession of real property with the
intention of terminating one's possession or interest but
without the vesting of this interest in any other person,
such as when a person moves and abandons leased
property before the lease term has expired.
abatement - ...ANSWER...✓✓ elimination or reduction of
real estate taxes to attract new business to an area.
abstract of title - ...ANSWER...✓✓ the condensed history
of a title to a particular parcel of real estate, consisting of
a summary of the original grant and all subsequent
conveyances and encumbrances affecting the property
and a certification by the abstractor that the history is
complete and accurate.
abstract of title with lawyers opinion - ...ANSWER...✓✓ an
abstract of title that a lawyer has examined and has
,2|Page
certified to be, in his or her opinion, an accurate
statement of fact.
acceleration clause - ...ANSWER...✓✓ the clause in a
mortgage or trust deed or note that can be enforced to
make the entire amount of principal and interest due
immediately if the mortgagor defaults on an installment
payment or other covenant.
accession - ...ANSWER...✓✓ acquiring title to additions or
improvements to real property as a result of the
annexation of fixtures or the accretion of alluvial deposits
along the banks of streams.
accretion - ...ANSWER...✓✓ the increase or addition of
land by the deposit of sand or soil washed up naturally
from a river, lake, or sea.
accrued items - ...ANSWER...✓✓ on a closing statement,
the items of expense that are incurred but not yet
payable, such as interest on a mortgage loan or taxes on
real property.
,3|Page
acknowledgement - ...ANSWER...✓✓ a formal declaration
before a notary public or other authorized public officer
that authenticates signatures on a document for the
purpose of recording.
acre - ...ANSWER...✓✓ a measure of land equal to 43,560
square feet, 4,840 square yards, 4,047 square meters, 160
square rods, or 0.4047 hectare.
actual eviction - ...ANSWER...✓✓ the result of legal
action, originated by a lessor, whereby a defaulted tenant
is physically ousted from the rented property pursuant to
a court order. See also eviction.
actual notice - ...ANSWER...✓✓ express information or
fact; that which is known; direct knowledge.
adjustable-rate mortgage (ARM) - ...ANSWER...✓✓ a
mortgage loan in which the interest rate may increase or
decrease at specified intervals over the life of the loan.
adjusted basis - ...ANSWER...✓✓ the dollar amount
associated with an asset to determine annual
, 4|Page
depreciation and gain or loss on the sale of the asset, the
owner's basis is the cost of the property; ADDING the
value of any capital expenditures for improvements to the
property and subtracting any depreciation claimed as a
tax deduction yields the adjusted basis.
adjusted sales price - ...ANSWER...✓✓ for income tax
purposes, the actual sales price reduced by allowable
sales expenses.
administrator - ...ANSWER...✓✓ a man appointed by a
court to settle the estate of a deceased person when
there is no will; contrast with executor.
administratrix - ...ANSWER...✓✓ a woman appointed by a
court to settle the estate of a deceased person when
there is no will; contrast with executrix.
ad valorem tax - ...ANSWER...✓✓ a tax levied according
to value; generally used to refer to real estate tax.
adverse possession - ...ANSWER...✓✓ the actual, visible,
hostile, notorious, exclusive, and continuous possession
