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Missouri Real Estate Exam Practice Questions and Answers: 2025 Updated Edition with 100% Correct Solutions
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Missouri Real Estate Exam Practice Questions and Answers: 2025 Updated Edition with 100% Correct Solutions A trust created through a deed, will, or trust agreement, where the trustee holds the title, is known as what type of estate? Estate in trust A living trust allows the trustor to c...

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  • December 8, 2024
  • 27
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • missouri real estate exam practice questions and

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  • Real Estate
  • Real Estate

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Missouri Real Estate Exam Practice
Questions and Answers: 2025 Updated
Edition with 100% Correct Solutions
A trust created through a deed, will, or trust agreement, where the trustee holds the title, is known as
what type of estate?

Estate in trust



A living trust allows the trustor to convey the title of property to a trustee during their lifetime for the
benefit of whom?

A third party



What type of trust operates similarly to a living trust but only takes effect upon the trustor's death?

Testamentary trust



In a land trust, the trustor conveys a fee estate to a trustee but names themselves as the beneficiary.
Which type of property does this apply to?

Real property only



Which of the following describes a condominium ownership arrangement where the buyer holds fee
simple interest in the unit's airspace and a tenancy in common interest in the common elements?

Condominiums



What is a cooperative ownership model where the developer creates a cooperative association, and the
shareholders hold ownership of shares in a corporation with exclusive ownership rights?

Cooperatives



Which type of property interest allows owners or timeshare tenants to use the property periodically,
without overlapping with others, under either a fee or leasehold interest?

Timeshare

1

,What is an encumbrance on real property that limits the legal owner's freehold interest, often seen as
easements or liens?

Encumbrance



An easement that gives the holder the right to use a portion of property in a specific way can either be:

Appurtenant or Gross



What is an encroachment on property, typically a physical intrusion without permission, such as a
driveway extending beyond a property line?

Encroachment



A license grants a personal right for someone to use another's property for a specific purpose. What
happens to this right upon the death of either party or the sale of the property?

It is revoked at any time



A deed restriction imposes limits on the use of a property. Which of the following can sometimes take
precedence over zoning laws?

Deed Restriction



What type of lien represents a creditor’s claim against property to secure payment for a debt?

Lien



What is the term for a lienholder’s claim against a debtor’s property, which may be voluntary,
involuntary, or classified as general or specific?

Lien



Tax liens can be either superior or inferior. Which type of tax lien is superior and takes precedence?

Superior Tax Liens (e.g., RET lien, special assessment lien)




2

, A judgment lien is the result of a lawsuit and attaches to both real and personal property. How long does
this lien last unless extended?

20 years



What foreclosure process involves the enforcement of liens through the liquidation or transfer of
property?

Strict foreclosure



Which process allows a lender to take direct title to property, bypassing a public sale, due to the debt
being greater than the property value?

Strict foreclosure



A deed in lieu of foreclosure allows the borrower to transfer legal title to the mortgagee in an effort to
avoid what?

Court actions



When legal title conveys all ownership rights and interests, what type of title does the holder possess?

Legal title



What type of title represents the right to obtain legal title based on a sale or mortgage agreement?

Equitable title



What type of notice refers to knowledge gained through direct communication or experience?

Actual notice



Which type of notice refers to knowledge of facts that a person should have obtained, such as through
the recordation of ownership documents?

Constructive (legal) notice



Which term describes the act of transferring title to real estate, either voluntarily or involuntarily?

3

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