Licensed Real Estate Agent Exam study materials
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Licensed Real Estate Agent Exam: Real Property Law, Ownership, and Interests in Land

Licensed Real Estate Agent Exam · Work through your exam, one topic at a time.

All guide sections

Real Property Law, Ownership, and Interests in Land

What this domain tests

The exam checks whether you can classify estates, ownership forms, and encumbrances, and explain how title passes. Questions often ask which interest survives death, which lien has priority, or whether an item is a fixture.

Estates and ownership

  • Fee simple absolute is the broadest estate; it can be inherited and has no expiration.
  • A life estate lasts for a measuring life. The life tenant must not commit waste and usually pays ordinary taxes and interest.
  • Leasehold estates, including estate for years, periodic tenancy, tenancy at will, and tenancy at sufferance, are personal property.
  • Tenancy in common has no right of survivorship. Joint tenancy requires unity of time, title, interest, possession, and survivorship language. Tenancy by the entirety is a marital form in some states.
  • Community property states treat property acquired during marriage as shared.

Encumbrances and title

Easements, liens, deed restrictions, and licenses affect title without necessarily transferring ownership. Easements may be appurtenant or in gross and can arise by grant, reservation, prescription, implication, or necessity. Recordation protects purchasers. A deed generally must be in writing, identify the parties and land, be signed by the grantor, and be delivered. Title insurance and surveys reveal risks.

Worked example

A owner conveys to B for life, then to C. B has a life estate and C has a remainder. If B sells, the buyer receives only B's life estate, which ends at B's death. C's remainder then becomes possessory. A mortgage B places on the life estate ends when the life estate ends.

Traps

Do not confuse joint tenancy with tenancy in common. Do not assume a deed restriction is unenforceable. Remember that a fixture passes with the land depending on annexation, adaptation, and intent.