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Question 1

Ownership of real property for an undetermined length of time is called

A. A leasehold estate
B. An estate
C. A nonfreehold estate
D. A freehold estate

Answer 1

D. A freehold estate

Question 2

How much is intangible tax on a real estate purchase mortgage?
A. .002
B. .5
C. 1
D. 5.00

Answer 2

A. .002

Question 3

Reversion of title is a feature of what type of interest?

A. Fee simple
B. Fee simple condition precedent
C. Fee simple condition subsequent
D. Fee simple determinable

Answer 3

D. Fee simple determimable