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SUPERIOR SCHOOL OF REAL ESTATE EXAM PROBLEM AREAS
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SUPERIOR SCHOOL OF REAL ESTATE EXAM PROBLEM AREAS
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SUPERIOR SCHOOL OF REAL ESTATE EXAMPROBLEM AREAS
tenements - Answers- all of the rights and interests that go with the land
hereditaments - Answers- land and all of the tenements that can be inherited
appurtenance - Answers- a right interest of privilege that goes with the land (item in the
bundle)
accretion - Answers- a gradual process in which the boundary of riparian land is
extended by natural forces
reliction - Answers- the permanent receding of the water which leaves the ground under
it dry and exposed
erosion - Answers- a natural process in which the flow or movement of water gradually
produces a loss of riparian land
avulsion - Answers- a rapid or sudden change in riparian land, either loss or gain,
resulting from violent natural causes
eminent domain - Answers- the government's power to take private property for public
use by paying the owner fair and just compensation
condemnation - Answers- the taking of property under the power of eminent domain
estate for years - Answers- a nonfreehold estate for any fixed period of time and
automatically terminates at the end of that period
estate from year to year - Answers- a periodic nonfreehold estate that automatically
renews at the end of its period if the parties do not provide otherwise
estate at will - Answers- a nonfreehold estate for an indefinite time and may be
terminated by either party instantaneously by giving notice to the other party
estate at sufferance - Answers- not truly a nonfreehold estate, but rather a holdover
situation created when the tenant's lease has expired and she fails to vacate the
premises
tenancy in common - Answers- two more more persons holding title to a property at the
same time with no right of survivorship
joint tenancy - Answers- exists where there are four fundamental unities: time, title,
interest, and possession
, survivorship - Answers- the surviving partners automatically take over the share of a
deceased partner
tenancy by the entirety - Answers- limited to husband and wife, must have a legal
marriage, terminated by death, divorce, agreement by the parties, but NOT separation.
Right of survivorship.
cooperative (co-op) - Answers- ownership of shares of stock in a corporation that owns
a building containing cooperative apartments. Proprietary lease. Tenants hold stock.
encumbrance - Answers- anything that diminishes the bundle of rights of real property
(liens, easements, encroachments, land use controls, zoning ordinances, deed
restrictions)
specific liens - Answers- claims against a particular property (i.e., mortgage, real
property tax, special assessments, mechanic's liens)
general liens - Answers- claims against all assets of a person (i.e., judgment, personal
property tax, income tax, estate and inheritance tax)
mechanic's liens - Answers- retroactive to the FIRST day the contractor, subcontractor,
or supplier began work or provided labor or materials to the property. The lien holder
has up to 180 days after the last labor or materials were furnished to take court action to
enforce the lien, provided the lien holder filed the lien within the 120-day filing period
police power - Answers- the power a government has to enable it to fulfill its
responsibility to provide for the health, safety, and welfare of the public
fee simple absolute - Answers- provides the greatest form of ownership available in real
property
fee simple determinable - Answers- inheritable freehold estate in the form of a fee
simple estate, however the title can be terminated by the grantor under certain
conditions
pur autre vie - Answers- measured by the lifetime of another person other than the
person receiving the title
life estate - Answers- noninheritable freehold estate created only for the life of the
named life tenant (one who holds a life estate)
alienation - Answers- the right that a life tenant has to transfer his/her title to another
person or pledge the title as security for a debt
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