Real Estate Exam Study Guide

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Across
  1. 4. Spreading payments over time
  2. 5. Two promises
  3. 7. A deed in which a property owner then transfer the title and warrants that he owns a property free and clear of all liens
  4. 11. These are considered real property in one of the land. Includes easements, covenants, and minerals in the ground
  5. 12. Sales property and then leases it back then becomes tenant with a new owner
  6. 16. A federal agency that ensures loans made by lending institutions to qualified persons
  7. 18. Personal property converted to real property
  8. 19. A contract between a lessor and lessee which gives possession but not ownership for the lessee
  9. 20. A deed in which the grantor only warrants against the defects that occur during their ownership
  10. 21. Property owned by just one person or corporation
  11. 22. An increase in actual amount of land due to natural causes
  12. 25. Shows ownership of the bundle of rights of property, saying it is yours
  13. 26. Promotes free-market competition
  14. 27. Type of concurrent ownership with unities or time, interest, title and possession. If one owner dies the interest goes to the remaining tenants
  15. 29. The gradual recession of water leaving land permanently uncovered
  16. 30. Police power, escheat, taxes, eminent domain
  17. 32. A contract that can be rejected at a later date for a specific reason. For example the contract signed under duress, entered into a threat, or contracts entered with a minor
Down
  1. 1. Money received above a designated amount
  2. 2. A law to provide homebuyers a better understanding of the settlement process
  3. 3. Property owned by more than one person
  4. 6. An estate where the ownership is held for an undefined length of time
  5. 8. When one party passes responsibility to another
  6. 9. Is evidence of a property transfer like a receipt
  7. 10. An estate or tenancy lasting a fixed period of time It has a start and end date
  8. 13. Is an interest in real property that last the length of someone's life, indefinite induration. The title reverts to original owner when the tenant dies
  9. 14. What a tenant sublets the property to a third-party
  10. 15. Where tenancy is renewed periodically such as week to week, month to month, or year to year
  11. 17. A deed that includes two implied warranties 1. The grantor has not already given the title to the person 2. The estate has no undisclosed encumbrances
  12. 21. Go to the state when someone dies without a will or heirs
  13. 23. A deed that operates as a release. It transfers properly quickly without any warranties on the title of any kind
  14. 24. When a landlord fails to do something they are legally obligated to do, rendering the property unlivable
  15. 28. The transfer of a title from one person to another
  16. 31. A grant an exception to a rule a.k.a. the rule varies