Property-Only case studies

Property-Only · Put your knowledge to work in context.

The Property-Only exam is a licensing-style assessment focused entirely on real property practice rather than general brokerage. It suits candidates who need to demonstrate competence in ownership interests, title transfer, liens and easements, agency duties, valuation, financing, land use, real estate calculations, and fair housing compliance. The Property-Only case studies are 5 cases and about 3,684 words.

The Farm, the Severed Joint Tenancy, and the Partition Demand

Alma, Ben, and Cora inherited a 240-acre farm and, in 2011, took title as joint tenants with right of survivorship, each contributing equally. In 2016 Ben executed and recorded a deed conveying his entire interest to his son Dev.

782 words, about 4 min 2

The Gravel Lane, the Foreclosure, and the Limits of an Implied Easement

In 2014 Owen owned a 20-acre parcel with a house, barn, and a gravel lane running from the public road to the barn. In 2017 Owen subdivided, selling the rear 8 acres to Rita by a deed that said nothing about the lane.

778 words, about 4 min 3

The Inspection Email, the Cancellation, and the Fire Before Closing

On March 1, seller Dana signed a counteroffer to buyer Evan’s offer to purchase Dana’s duplex for 390,000. The contract provided: 20,000 earnest money held by the listing broker; an inspection contingency allowing Evan to give written notice of unacceptable conditions within seven business days; a 21-day financing contingency; closing on April 10; “time is of the essence”; and a clause stating that if buyer defaults, seller may keep the earnest money as liquidated damages and sole remedy.

803 words, about 4 min 4

Dual Agency, a Disclosed Floor, and an Undisclosed Lender Fee

Pat is a licensed agent at a brokerage that has an exclusive listing on a 1925 bungalow at 525,000. Pat is the seller’s designated agent.

755 words, about 4 min 5

Testing a 12-Unit Apartment Price Against NOI, DSCR, and Cash-to-Close

An investor is under contract to buy a 12-unit apartment building for 1,650,000. The rent roll shows 12 units at 1,150 per month; market vacancy and collection loss is 6%; laundry income is 4,800 per year; operating expenses are 71,000 per year.

566 words, about 3 min