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NJ Title Insurance Exam Questions and Complete Solutions Graded A+ $14.49   Add to cart

Exam (elaborations)

NJ Title Insurance Exam Questions and Complete Solutions Graded A+

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  • Course
  • NJ Real Estate
  • Institution
  • NJ Real Estate

NJ Title Insurance Exam Questions and Complete Solutions Graded A+

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  • August 23, 2024
  • 30
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • NJ Real Estate
  • NJ Real Estate
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NJ Title Insurance
Exam Questions
and Complete
Solutions Graded
A+
Denning [Date] [Course title]

,Abandonment - Answer: When a party in legal possession of property leaves without the intention of
reclaiming rights.



Abstract of Title - Answer: A brief history of the instruments appearing in the county record that affect
title to the parcel in question.



Condensed history of all documents affecting a parcel of real estate



Acceleration Clause - Answer: Mortgage Clause demanding full payment upon Default.



Accretion - Answer: an increase of land caused by the gradual depositing of solid material



Adhesion Contract - Answer: A non negotiable contract with terms dictated by one party.



Aleatory Contract - Answer: A contract based upon Future uncertain conditions.



Administrators Deed - Answer: Transfers Title of an intestate by the administrator.



Easement by Prescription - Answer: Someone has used another persons land for a certain period of
time as defined by state law



(20 years in NJ)



Air Rights - Answer: Rights to space above a property



Belonging to owner of land below



Feudal System - Answer: Government owns all property and individuals get rights.



Fiduciary - Answer: A person or organization that acts on behalf of another person to manage assets

, Foreclosure - Answer: To seize and sell property pledged for a debt



A forced sale of property to satisfy a lien.



Alluvion - Answer: Solid material deposited by a body of water



Freehold Estate - Answer: An interest in real property whose length cannot be determined in advance



Estates of indeterminable length - a person may OWN that estate for a lifetime or forever



ex: Fee simple ; fee determinable ; life estate



Avulsion - Answer: Sudden change of course of a stream



Joint Tenancy - Answer: two or more people own property ; nonmarried persons with right of
survivorship



ALTA - Answer: American Land Title Association



Usury - Answer: Charging more than (unusually high) the legal limit on interest.



Appraisal - Answer: A defensible estimate of value by an expert under given market conditions.



Life Estate - Answer: Granting of a lifetime interest in the property without the right to transfer title.



Complete ownership until someone's death



Ingress And Egress - Answer: The means to gain entrance into or to an exit from a property

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