Understanding how someone aquires and or loses ownership to real property is important to know for the real estate licensing exam. This real estate exam prep video will provide you with the content you need to be prepared for your exam!

Here are the Key Real Estate Terms you will need to know for your real estate licensing exam:

(1) Voluntary Alienation – Conveyance of title freely by the owner
(2) Involuntary Alienation – Loss of property
(3) Executor – (Male) Person named in a will to carry out the terms of the will
(4) Executrix – (Female) Person named in a will to carryout the terms of the will
(5) Testator – (Male) THE person who has died testate
(6) Testatrix – (Female) THE person who has died testate
(7) Devise – A gift of real estate by will
(8) Devisee – The person whom a gift of real estate is given by will
(9) Probate – A court that oversees the affairs of an estate
(10) Adverse Possession –
(11) Quiet Title Action – Action in court to establish title or remove a cloud on title
(12) Color of Title – refers to a claim based on a land right, land warrant, land scrip or an irregular chain of title. Color of title is often raised in adverse possession claims
(13) Testate – Someone who has died with a will
(14) Intestate – Someone who has died without a will
(15) Bequeath – Transfer of personal property by will

Best of luck with your studies…

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Paul Vojchehoske
Mr. Real Estate Seminars, Inc.
The Real Estate Classroom
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(402) 660-0395

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P.S. Nothing in this video shall be construed as legal or financial advice and is for INFORMATIONAL purposes only! Please consult with a competent attorney, financial advisor, and your broker before implementing anything you’ve learned from this video. Likewise, the issues discussed herein may not be applicable in your state or local jurisdiction.

Paul Vojchehoske

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