Humber/Ontario Real Estate Course 1 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 1 Exam with our comprehensive quiz. Test your understanding with multiple choice questions and detailed explanations. Build confidence and knowledge for a successful exam experience!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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What is Fee Simple?

The highest estate in real property.
A property ownership type giving unlimited rights, with no restrictions.
An estate with minimal rights, as the name implies.
Synonymous with leasehold estates.
A temporary form of property ownership.
An estate limited to the duration of a certain person’s life.

The correct answer is: The highest estate in real property.

Fee Simple is the highest estate in real property, granting the owner unlimited rights with no restrictions. This means that the owner has full control over the property, including the right to use, sell, or even destroy it. Other options like "An estate with minimal rights," "Synonymous with leasehold estates," "A temporary form of property ownership," and "An estate limited to the duration of a certain person’s life" do not accurately describe Fee Simple. This makes option A the correct choice as it correctly defines Fee Simple as the most comprehensive and complete type of property ownership.