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NJ Title Producer Terms & Concepts Questions and Complete Solutions Graded A+
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NJ Title Producer Terms & Concepts Questions and Complete Solutions Graded A+
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NJ Title ProducerTerms & Concepts
Questions and
Complete Solutions
Graded A+
Denning [Date] [Course title]
, Feudal - Answer: Royalty
Alloidial - Answer: Commoner
Title ensures your "Bundle of Rights" - Answer: "PoCoEnD"
- Possession
- Control
- Enjoyment
- Disposition, Devise (to convey real property in a will)
Government Reserved Rights - Answer: "PETE"; Police Power, Eminent Domain, Taxation, Escheat
Police Power - Answer: Right of govt. to enact and enforce laws that restrict use of property without
compensation to the owner for general public welfare....Ex. Zoning Laws
Eminent Domain - Answer: Right of government to take private property when needed for some
worthwhile public use
Condemnation - Answer: Legal proceeding to take property. Owner is paid fair market value
Taxation (as a reserved right of govt.) - Answer: Shared cost of running government
Escheat - Answer: Reversion of property to government when owner dies and leaves no heirs to inherit
property
Mineral rights or Sub-surface rights - Answer: Beneath the surface
Estate - Answer: Legal or possessory right
Tenancy - Answer: Same as ESTATE
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