National Real Estate Exam: Pearson Vue, Top exam questions & Answers, rated A+
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National Real Estate
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National Real Estate
National Real Estate Exam: Pearson Vue, Top exam questions & Answers, rated A+
Maria acquires a property from her uncle Alfonso. When Maria dies, the estate will pass to Alfonso's other niece Serena. The type of estate that Maria has in the property is:
A. conventional life estate
B. legal l...
rated a maria acquires a property from her uncle alfonso when maria dies
the estate will pass to alfonsos other niece
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National Real Estate Exam: Pearson Vue,
Top exam questions & Answers, rated
A+
Maria acquires a property from her uncle Alfonso. When Maria dies, the estate will pass to Alfonso's
other niece Serena. The type of estate that Maria has in the property is:
A. conventional life estate
B. legal life estate
C. fee simple defeasible estate
D. tenancy by the entireties - ✔✔-conventional life estate
One difference between a cooperative estate and a condominium estate is that:
A. a condo owner owns a unit of air space whereas the coop owner owns a proprietary lease
B. a condo sale adversely affects the other units
C. the coop owner owns stock and a freehold estate interest whereas the condo owner simply a
proprietary lease
D. the condo owner owns the common elements and the airspace whereas the coop owner only owns
the apartment - ✔✔-a condo owner owns a unit of air space whereas the coop owner owns a
proprietary lease
With various types of junior liens, the order of payment priority is generally established according to:
A. the date of recordation
B. what form of tax is in question
C. the order of disbursement
D. whether the lien was subordinated - ✔✔-the date of recordation
What is a lien theory state in contrast to a title theory state?
A.a state in which liens are given priority over other encumbrances
, B. a state in which a mortgagor retains title to the property when a mortgage lien is created
C. a state in which the holder of a mortgage lien is receives total to the mortgaged property until the
debt is satisfied
D. a state in which liens must be recorded to be enforceable - ✔✔-a state in which a mortgagor retains
title to the property when a mortgage lien is created
A property owner has an easement appurtenant on her property. One day the property is sold to
another party who is opposed to the easement. Following the closing, this particular form of easement:
A. terminates
B. transfers with the property
C. transfers with the owner to a new property
D. becomes a license on the property - ✔✔-transfers with the property
Which of the following provides the strongest evidence of marketable title?
A. a general warranty deed
B. a title certificate
C. title insurance
D. an attorney's opinion - ✔✔-title insurance
A store owner enters into a lease that charges rent per SF, a common area fee, and a portion of the
store owner's gross income from the property. This kind of lease is a:
A. triple charge, or triple net lease
B. proprietor's lease
C. Percentage lease
D. Retailer's gross lease - ✔✔-Percentage lease
A lease automatically terminates under which of the following circumstances?
A. the tenant fails to pay rent
B. the lease property is foreclosed
C. the tenant goes out of business
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