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TN Exam Prep Test 5 Verified and 100% Correct Q & A, Complete Document for Exam
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TN Exam Prep Test 5 Verified and 100% Correct Q & A, Complete Document for Exam
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TN Exam Prep TestEnter the letter for the matching Answer
1. A lien against any an all property owned A. color of title
by a lienee
B. courts common law
2. Sheriff's deed
3. Any financing arrangement where a seller C. foreclosure
takes a note and mortgage from the buyer D. exclusive agency
for all or part of the purchase price of the
property. E. general lien
4. Regulates practitioners, administer real
F. Section 62, Chapter 13
estate license laws. crewe and enforce
real estate taxation G. Torrens System
5. A listing agreement which pays the listing
broker a commission if anyone other than H. deed in trust
the property owner procures a customer.
I. debit
6. Regulates estate ownership and usage
according to customer and accepted J. dual agency
practices.
K. hypothecation
7. Use of real property as collateral for a
mortgage loan. L. quiet title suit
8. An investment in which owners purchase M. party wall easement
shares in a trust which owns or acquires
real property. Investors receive income N. tenancy by the entireties
and gain on a per-share basis.
O. private mortgage insurance (PMI)
9. A defective title transfer or the transfer of
a defective title where the new owner is P. property management / managers
originally unaware of the defect. Color of
title may be used as a grounds for Q. state agencies
adverse possession, which, if successful
would nullify the original defect. R. earnest money escrow
10. A court proceeding to clear a property's S. seller financing
title of defects, claims and encumbrances.
T. real estate investment trust (REIT)
11. An instrument used to convey real
property to the trustee of a land trust. The
truster is also the beneficiary.
12. An accounting entry on a closing
statement indicating an amount a party
must pay.
13. An easement appurtenant where owners
of two adjacent properties share an
improvement along the property
boundary. The parties agree not to
perform acts that would adversely affect
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