Real Estate Quiz Welcome to your Real Estate Quiz Ever wonder why land is called 'real estate'? Well, the term 'estate' literally refers to the land and buildings upon the land, but 'real' is derived from the Latin word for what? Exchange Earth Thing Person What term is used to describe a professional estimate/opinion on the value of real estate? Proposition Registration Appraisal Submittal What is the term for the legal document that is most often used to transfer title of real estate from previous to new owner? Affidavit Schedule Transference Deed What is the legal term for a type of real estate wherein portions are held privately while other portions are owned commonly by a community? Condominium Suite Apartment Enfilade From what language comes the all-important real estate term 'mortgage', where it means 'dead pledge'? French Southern Italian German Which of these terms refers to the right to use the property of another owner for a specified purpose? Extension Easement Cession Abutment For tax purposes, some property owners decrease the value of their property over time (presumably, to account for wear and tear over time) and take the amount as a tax write-off. What is this process called? Amortization Nominalization Capitalization Subsidization What event occurs when a property owner defaults on his/her mortgage agreement with a bank or other creditor? Foreclosure Underwriting Surcharge Redoundation Which of these best describes the term 'capital gain' when it comes to real estate? Profit from the sale of property Interest charged to a purchaser of property Increase in amount of taxes on property Investment made to improve a property Urban 'blight' has been a traditional problem in large cities around the world. What is the term for the deliberate improvement of homes or other properties in urban areas to bring up the property values? Gentrification Fenestration Bootstrapping Velarizing Time's up Published by silverpointeproperties SilverPointe Properties - Business Professionals with a Passion for Real Estate. Realtors serving Middle Tennessee. View more posts