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Unit 7: Interests in Real Estate > Assessment > Flashcards

Assessment Flashcards

1
Q

___ is the right of the government to acquire privately owned real estate for public use.

A

Eminent Domain

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2
Q

___ is the process by which the government exercises its eminent domain rights.

A

Condemnation

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3
Q

A(n) ___ is a legal life estate in real estate occupied as the principal residence.

A

Homestead

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4
Q

A(n) ___ is the highest interest in real estate recognized by law.

A

Fee simple absolute

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5
Q

___ easements are attached to the ownership of one parcel and allows the owner the use of a neighbor’s land.

A

Appurtenant

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6
Q

Easements ___ are attached personally to the owner and not the land.

A

in gross

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7
Q

Easements ___ are created using another’s land for a certain period.

A

By prescription

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8
Q

Easements ___ are based on the principle that owners must have the right to enter and exit their land.

A

By necessity

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9
Q

Deed restrictions are illegal. True or false?

A

False

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10
Q

The owner of Lot 1 has an appurtenant easement across Lot 2 to gain access to his property from the paved road. Lot 1 holds the ___ tenement.

A

Dominant

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11
Q

The owner of Lot 1 has an appurtenant easement across Lot 2 to gain access to his property from the paved road. Lot 2 holds the ___ tenement.

A

Servient

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12
Q

A city decides to build a new library. The city has the right to take the land by ___ as long as just compensation is paid to property owners.

A

Eminent domain

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13
Q

A purchaser of real estate learned that his ownership rights could continue forever and that no other person could claim to be the owner or exert any ownership control over the proerty. This person owns a…

A

Fee simple absolute interest

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14
Q

A person owned the fee simple title to a vacant lot adjacent to a hospital and was persuaded to make gift of the lot. She wanted to have some control over its use, so her attorney prepared her deed to convey ownership of the lot to the hospital “so long as it is used for hospital purposes.” After completion of the gift, the hospital will own a…

A

Fee simple determinable

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15
Q

Your neighbors regularly use your driveway to reach their garage, which is on their property. Your attorney explains that ownership of the neighbor’s real estate includes an easement appurtenant giving them the right to do this. Your property is the…

A

servient tenement

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16
Q

A tenant who rents an apartment from the owner of the property holds…

A

a leasehold interest

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17
Q

If the owner of real estate does not take action against a persistent trespasser before the statutory period has passed, the trespassor may acquire…

A

an easement by prescription

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18
Q

A property owner wants to use water from a river that runs through his property to irrigate a potato field. To do so, the owner is required by his state’s law to submit an application to the Department of Water Resources describing in detail the beneficial use he plans for the water. If the department approves the property owner’s application, it will issue a permit allowing a limited amount of river water to be diverted onto the property. Based on these facts, what doctrine of law is the state likely relying upon in requiring the property owner to submit his application?

A

Doctrine of prior appropriation

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19
Q

Which of the following is NOT a governmental power?
A) easement in gross
B) Police power
C) Eminent domain
D) Taxation

A

Easement in gross

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20
Q

Property deeded to a town “on the condition that it is used for recreational purposes” conveys a(n)…

A

Condition subsequent

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21
Q

A property owner has the legal right to pass over the land owned by her neighbor. This is a(n) ___.

A

Easement

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22
Q

Which of these is a legal life estate:
A) Leasehold
B) Homestead
C) Fee simple absolute
D) Determinable fee

A

Homestead

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23
Q

A father conveys ownership of his residence to his daughter to last for the length of his life. The interest the daughter owns during her father’s lifetime is…

A

pur autre vie

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24
Q

An owner has a fence on her property. By mistake, the fence extends one foot onto the property of a neighbor. The fence is an example of…

A

an enroachment

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25
Q

___ on real estate includes easements and enroachments

A

Encumbrances

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26
Q

A person has permission from a property owner to hike on the owner’s property during autumn months. What does the hiker have?

A

A license

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27
Q

In Illinois, the homestead exemption is limited to $___ per head of household.

A

$15,000

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28
Q

If the owner of either property involved in an easement becomes the owner of both properties, what happens to the easement?

A

It terminates

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29
Q

In Illinois, a ___ easement may be established by 20 years of uninterrupted, exclusive use under the claim of right and without the owner’s permission.

A

prescriptive

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30
Q

In Illinois, an easement by prescription is established after ___ years.

A

20

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31
Q

In Illinois, if real property escheats, ownership of the property goes to the ___ in which it is located.

A

County

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32
Q

The type of easement that is a right-of-way for a utility company’s power lines is an easement…

A

in gross

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33
Q

A state’s power to enact legislation that preserves order, protects the public health and safety, and promotes the general welfare is called its…

A

police power

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34
Q

What are the 4 governmental rights that affect real estate?

A

1) Taxation
2) Eminent domain
3) Escheat
4) police power

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35
Q

The process by which the government exercises its right to acquire privately owned real estate for public use through either judicial or administrative proceedings is called ___.

A

Condemnation

36
Q

___ is the process by which the state acquires privately owned property when no owner can be found

A

Escheat

37
Q

___ estate is the highest interest in real estate recognized by law.

A

Fee simple absolute

38
Q

When the creator of a life estate chooses not to name a(n) ___, ownership returns to the original owner upon the end of the life estate

A

Remainderman

39
Q

A(n) ___ is a legal life estate in real estate occupied as a family home

A

Homestead

40
Q

An easement ___ is attached to the ownership of real estate and allows the owner of that property the use of a neighbor’s land.

A

Appurtenant

41
Q

An easement that arises when an owner sells property that has no access to a street or public way except across the seller’s remaining land is an easement…

A

by necessity

42
Q

The concept of ___ provides that successive periods of continuous occupation by different parties may be combined to reach the required total number of years necessary to establish a claim for an easement by prescription.

A

Tacking

43
Q

A(n) ___ may be terminated or canceled by the owner of the property, and it ends on the death of either party or the sale of the affected property.

A

License

44
Q

Dower and curtesy are types of…

A

Legal life estates

45
Q

Real estate taxes, mortgages, and judgements are examples of possible ___ against an owner’s real estate

A

liens

46
Q

Convenants, conditions, and restrictions are used by subdivision developer to maintain…

A

specific standards in a subdivision

47
Q

The right of a government to acquire privately owned real estate for public use is called…

A

Eminent domain

48
Q

The process by which the government exercises its right of eminent domain is called…

A

Condemnation

49
Q

A charge imposed on real estate to raise funding for government services

A

Taxation

50
Q

The automatic transfer of real property to the state when the owner dies without heirs or a will

A

escheat

51
Q

The degree, quantity, nature, and extent of an owner’s interest in real property

A

Estate in land

52
Q

A class of estates in land that lasts for an indeterminable period of time

A

Freehold estates

53
Q

A class of estates in land for which the length of time can be determined

A

Leasehold estates

54
Q

An estate qualified by some action or activity that must or must not be performed

A

Fee simple defeasible

55
Q

An estate based on the lifetime of a person other than the life tenant

A

Life estate pur autre vie

56
Q

The person to whom property passes when a life estate ends

A

Remainderman

57
Q

A legal life estate in which an individual’s primary residence is protected, in whole or in part, against certain creditors

A

Homestead

58
Q

An interest in real estate that does not rise to the level of ownership or possession yet still gives some degree of use or control of the property

A

Encumbrance

59
Q

A charge against property that provides security for a debt or obligation of the property owner

A

Lien

60
Q

A private agreement that affects the use of land

A

Deed restriction

61
Q

The right to use another’s land for a particular purpose

A

Easement

62
Q

When a building, fence, or driveway illegally extends beyond the boundaries of the land of its owner or legal building lines

A

Enroachment

63
Q

A personal privilege to enter the land of another for a specific purpose

A

License

64
Q

A type of life estate established by state law rather than voluntarily by an owner is a(n)…

A

legal life estate

65
Q

A fee simple ___ is qualified by a special limitation that ends the estate automatically on the current owner’s failure to comply with this element.

A

Determinable

66
Q

A life estate is a type of ___ estate that is limited in duration to the life of the owner or some other specified person/ persons.

A

Freehold

67
Q

In a fee simple subject to a condition subsequent estate, the right of reentry may never take effect. Therefore this right is considered to be a(n)…

A

future interest

68
Q

A railroad right of way is an example of what type of easement?

A

Easement in gross

69
Q

If the creator of a life eestate does not name a remainderman, the original owner retains a(n) ___ upon the end of the life estate

A

Reversionary interest

70
Q

A(n) ___ cannot violate any law, such as fair housing law, by attempting to prohibit certain property transfers

A

Deed restriction

71
Q

When a claimant has used another person’s land for a certain period of time and in a manner defined by state law, the claimant can claim what type of easement?

A

Easement by prescription

72
Q

When 2 properties share a party wall that straddles the boundary line between the 2 lots, each owner owns half ot he wall on each lot and has a(n) ___ easement in the other half of the wall.

A

appurtenant

73
Q

A spouse dies leaving real estate owned as a separate property to the surviving spouse, but with the provision that when the surviving spouse dies, the real estate goes to a specified charity. The surviving spouse owns a bundle of legal rights but does not own the right to…

A

Dispose the property

74
Q

Every workday for the past 20 years, an accountant has paid to park in a specific place in a nearby parking garage. Today the accountant receives a notice that the garage will be replaced by an office building. Can the property owners do this after all the years the accountant parked there? Why or why not?

A

Yes because the accountant only had a license

75
Q

A property owner conveyed a one acre parcel of land to a preschool. The deed stated that the property was to be used only as a playground; the property owner reserved a right of reentry. What kind of estate has been granted?

A

Fee simple subject to a condition subsequent

76
Q

A property owner gave land to a school “so long as the land is used for only academic and recreational purposes.” The ownership interest granted here is called…

A

Fee simple determinable

77
Q

If the government acquires privately owned real estate through a condemnation suit, it is exercising its power of…

A

eminent domain

78
Q

A resident of Sunny Oaks owned 2 acres of land, sold 1 acre, and reserved an easement appurtenant for entrance and exit over that acre to reach the public road. The acre that was sold is the…

A

servient tenement

79
Q

A large undeveloped parcel of land on the side of a hill borders a road on its lower edge. The owner of the parcel sells the lower portion of the property to a buyer who builds a home on it. Several years later, the upper portion of the property is sold to someone else. The upper portion of the property does not border any road. To gain access to the road, the owner of that real property has a legally implied right to what type of easement?

A

Easement by necessity

80
Q

If the dominant estate merges with the servient estate, the easement is ___.

A

terminated

81
Q

The homestead exemption in a town is $15,000. Four years ago, a resident purchased a home for $58,000 and then experienced hard times. At a court ordered sale, the property is purchased for $60,000. If the resident has an outstanding mortgage balance of $35,000 and credit card debts accounting to $24,360, how much is protected by the homestead exemption?

A

$15,000

82
Q

A patient dies in a nursing home, he left no will and had no heirs. What happens to his $250,000 estate?

A

It escheats to the county

83
Q

Two ___ and two ___ must exist for an appurtenant easement to exist.

A

Adjacent parcels; different owners

84
Q

___ are private agreements that affect the use of land

A

Deed restrictions

85
Q

The electric company has the right to extend its wires over 50 parcels of land, becuase of what right?

A

Easment in gross

86
Q

For as long as anyone can remember, neighbor families have used a footpath to get to the river. Recently, the current owner of the footpath erected a fence across the path. Which easement might neighbors claim that would require the owner of the footpath to remove the fence?

A

Easement by prescription

87
Q

The holder of a life estate is called…

A

a life tenant

Unit 7: Interests in Real Estate (4 decks)

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