Chapter 1 Student name:__________ 1) If a lender is to repossess or bring about the sale of a property if the borrower defaults on the mortgage loan, the lender is said to have a __________ in the real estate. A) freehold interest B) lease interest C) secured interest D) quitclaim 2) A(n) __________ estate represents the most complete form of ownership of real estate; the owner is free to divide it up into lesser estates and sell, lease, or borrow against them as he or she wishes. A) fee simple B) freehold C) leasehold D) life 3) Mr. Smith has allowed Mrs. Jones to run a sewer line through Mr. Smith's backyard so that Mrs. Jones has access to the city sewer system. This is an example of a(n): A) easement. B) encumbrance. C) estate for years. D) title assurance