Real Estate Salesperson National Prep Exam 1 UPDATED Actual Exam Questions and CORRECT Answers
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Course
Real Estate Salesperson
Institution
Real Estate Salesperson
Real Estate Salesperson National Prep
Exam 1 UPDATED Actual Exam Questions
and CORRECT Answers
John owns the dominant estate with an easement appurtenant. John sells the property. What
happens to the easement?
(a) A commercial tenant's lease will expire at the end of the month. It is termin...
Real Estate Salesperson National Prep
Exam 1 UPDATED Actual Exam Questions
and CORRECT Answers
John owns the dominant estate with an easement appurtenant. John sells the property. What
happens to the easement?
(a) A commercial tenant's lease will expire at the end of the month. It is terminated by the
sale.
(b) It belongs to the buyer.
(c) Its ownership must be negotiated outside the sale.
(d) John retains ownership of the easement. - CORRECT ANSWER✔✔- It belongs to the
buyer.
Appurtenant easements go to the buyer and are considered part of the real property. Sales do
not generally terminate easements.
A commercial tenant's lease will expire at the end of this month. He is currently in the
process of removing his display cases from the shop. What is true?
(a) He is not permitted to do that.
(b) He must negotiate with the owner if he wants the fixtures.
(c) He can take these trade fixtures as long as he removes them prior to lease end.
(d) He can only take them if he pays for them. - CORRECT ANSWER✔✔- He can take these
trade fixtures as long as he removes them prior to lease end.
Trade fixtures are personal property of the tenant/seller and may be removed prior to delivery
of possession. Trade fixtures do not belong to the landlord and there is no charge for
removing your own trade fixtures.
John, Maria and Mark are joint tenants. Mark dies. Maria sells her share to Jane. John and
Jane are:
,(a) joint tenants.
(b) tenants by partition.
(c) sole owners.
(d) tenants in common. - CORRECT ANSWER✔✔- tenants in common.
A partition to tenants in common is the only way to divide interest out of joint tenancy and
sell to a third party. Nothing can be sold out of joint tenancy. There is no such thing as tenants
by partition. There is more than one owner so it can't be sole owner(s). Also John and Jane do
not have the unity of time or title which is a requirement of Joint Tenancy.
Mark's fence is trespassing on John's land. This is an example of:
(a) an encroachment.
(b) a lien.
(c) an appurtenance.
(d) a prescriptive easement. - CORRECT ANSWER✔✔- an encroachment.
Established by a survey, items over the property line are considered encroachments. A lien is
filed for repayment of a debt. An appurtenance is for the benefit of the property. Easement by
prescription is using an easement over time without permission for a statutory period (similar
to adverse possession).
John owns lakefront property. He has been granted water rights to the lake. He has:
Water rights to lakes or oceans are called littoral rights in states that allow private ownership
of navigable waters. Riparian rights are for rivers, creeks or streams. Appropriative rights
relate to the use of water from all sources. Prior Appropriation Theory refers to first in time is
first in right to use the water.
, A surveyor has described a property from a point of beginning 200 feet north on Broad St.
from the oak tree at the intersection of Main St. and Broad St., then 90° east for 100 ft., then
90° north for 50 ft., then 90° west for 100 ft., then 90° south for 50 feet back to the point of
beginning. What type of description is this?
(a) Government Survey System
(b) Metes and Bounds
(c) Monuments
(d) Lot, block, and subdivision plot - CORRECT ANSWER✔✔- Metes and Bounds
Metes and Bounds contains Point of Beginning/Terminal Point/Monuments. Government
Survey System contains Section/Township/Range. Monuments are descriptive points in a
Metes and Bounds description but are not a legal description. Lot, block, and subdivision plot
is a legal description from recorded maps/plats.
Mary's parents gave her a life estate on a house. John is the remainderman. Mary leased the
property to Bob for 5 years. During the lease, Bob died. What happens to the property?
(a) When the tenant dies the property goes to John.
(b) When the tenant dies the property goes to Mary's parents.
(c) When the tenant dies the property goes to Mary's heirs.
(d) When the tenant dies the property goes to Mary. - CORRECT ANSWER✔✔- When the
tenant dies the property goes to Mary.
The life estate is solely based on Mary's life and not the life of her tenant farmer. John only
gets it if Mary dies. It would only go to Mary's parents if they were her sole
beneficiaries/heirs. It would only go to Mary's heirs/beneficiaries if Mary died.
A property owner has defaulted on his mortgage and the lender has sent a notice of
foreclosure. Before the foreclosure sale the owner is able to pay all he owes and reclaim the
property. This is an example of: - CORRECT ANSWER✔✔- redemption.
This is your equitable right to pay back what you owe before foreclosure. A deed is your
ownership paper when you buy real property. Accession is the accretion of alluvial deposits
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