Introduction

Bundle of Rights  

License   

Government Rights  

Police Power   

Eminent domain   

Taxation   

Escheat   

Real vs Personal Property

Annexation   

Appurtenances   

Fixtures   

Trade Fixture   

Emblements   

    OR-EE Rule   

Estates

Freehold Estate   

Fee simple absolute   

Fee simple Defeasible   

Life estate   

Less than freehold estate   

Estate for Years   

Periodic Tenancy   

Estate at will   

Estate in sufferance   

Types of Leases   

Gross lease   

Net lease   

Percentage lease   

Lease option   

Property management

Contracts

Essentials of a valid contract   

Capable parties  

Lawful object   

Consideration   

Offer and acceptance   

Types of Contracts   

Valid, Void & Voidable Contracts   

Implied contract   

Bilateral & Unilateral contacts   

Executed & Executory   

Option contract   

Land Contract   

Listings   

Types of Listings contracts   

Exclusive Listing   

Exclusive Authorization and right to sell Listing   

Exclusive Agency Listing   

Open Listing   

Net Listing   

Listings with an option   

Multiple listing service   

Agency   

Universal agent   

General agent   

Special agent   

Attorney in fact   

Principal and Client   

Transaction broker   

Dual or limited agency   

Practice and disclosure   

Stigmatized property   

Puffing   

Fraud   

Actual fraud   

Negative fraud   

Constructive fraud   

Negligence   

Federal Law   

Truth in Lending   

Fair Housing   

Steering   

Blockbusting   

Sherman antitrust laws   

Easement   

Easement in gross   

Implied easement   

Prescriptive easement   

Termination of Easement   

Encroachment   

Zoning

Property Transfer

    Deeds   

    Wills   

Title   

Title insurance   

Forms of ownership   

Tenancy in common   

Joint tenancy   

Community property   

Trust   

Subdivisions   

Condominium   

Cooperative   

Time Shares   

Cluster housing   

Liens   

Appraisal   

Appraisal Principles   

Principle of Highest and Best Use   

Principle of Substitution   

Principle of Conformity   

Principle of Contribution   

Principle of change   

Market Value   

Steps in the appraisal   

Appraisal methodology   

Market data approach   

Capitalization (income) Approach   

Cap Rate   

Cost (replacement) approach   

Gross Rent Multipliers   

Depreciation   

Physical Deterioration   

Functional Obsolescence   

Economic Obsolescence   

Financing   

Lenders   

Primary mortgage   

FHA   

VA   

Types of Loans   

Loans clauses   

Investing   

Construction Terms   

Test Taking Tips   

Introduction


This site contains all fo the key concepts to help you pass your real estate exam on the first try.  Real estate text books can be long, boring and just too overwhelming, we have tried to pull out the most vital information that is most commonly found on your real estate exam for free!


This information will not only fulfill the purpose of preparing you to take the real estate state exam, but it also provides a general overview of real estate concepts. In all cases, whether in your real estate practice or sitting for the real estate exam, you need to defer to information provided by your state real estate licensing authority and any local real estate pre-licensing courses you may be required to take if it conflicts with the information given here.

This does not provide legal advice. Real estate sales and related issues are full of topics that many people, including real estate attorneys, believe are matters that require an attorney’s advice or that are best left up to an attorney. We unequivocally advise you that in any issue involving a legal matter, first and foremost, consult an attorney.


The information you want from your state includes a copy of the real estate license law, an application, information on the content of the real estate exam (if available), and any other information available about obtaining your real estate license. You may be able to get this information online. (If you’re already a real estate broker, you probably are familiar with most of this. If you’re new to real estate, you want the package of information your state sends out for people who want to become a licensed real estate salesperson.) When you get it, read the information carefully and take the next step. That may be enrolling in a real estate course. In a few cases, it may mean studying the license law and the other information the state sends you to help you with your real estate exam.


As much as we provide valuable information for your real estate exam, be sure to apply this knowledge by doing practice exams that can be found at RealEstateStudyAids.com.