Exam (elaborations)
NJ Title Insurance Exam Questions and Complete Solutions Graded A+
- Course
- Institution
NJ Title Insurance Exam Questions and Complete Solutions Graded A+
[Show more]
Content preview
NJ Title InsuranceExam 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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller YourExamplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79223 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
