Ch 3 - Rights & Interest Flashcards
A deed which conveys whatever interest
Or title the grantor may have in the property, if any; contains no covenants or warranties of title, either expressed or implied; the grantor does not purport to have title or possess any interest in the property to be conveyed
Quit claim deed
A necessity allowed by law
estover
One who has the right to take an estate in remainder
Remainderman
Laws passed to enable state and local governments
Enabling acts
The fall and free ownership of rights in the land
Allodial system
A doctrine used to prevent a right or claim because of delay or failure to assert the right or claim
Laches
Authorization for the sheriff to seize and sell enough of the debtors property to satisfy the judgment and to pay expenses of the sale
Writ of execution
A written notice that a lawsuit has been filed
Lis pendens
Any claim, right, liability or restriction that limits a fee simple estate
Encumbrance
rights usually given to utility companies and railroads
Commercial easements
Deed restrictions or deed covenants that govern land use
Private controls
What type of lien is always the first priority in liens?
A tax lien
Type of lien created by the property owner
Voluntary lien
Type of lien created by operation of law
Involuntary lien
Governments rights to regulate land use derives from…
Police power
True or false:
And individual’s estate in land is not determined by quantity
True - quantity is not a determining factor
A right that one party has to use another party’s land for a special purpose
Easement
What are some examples of police power?
- zoning
- building codes
- fire codes
- health codes
- rent control
- environmental protection
- fair housing
- real estate licensing
What are the four categories of leasehold estates?
- Estate for years
- Periodic estate
- Estate at will
- Estate at sufferance
PYWS - periodic, years, will, sufferance
What are two classifications of community property?
Separate property and community property
What are the seven ways easements can be made?
CRAPING
Condemnation Reservation Agreement Prescription Implication Necessity Grant
What are the six ways easements can be ended?
Merger Abandonment Prescription End of necessity Expiration of purpose Release
What are the types of liens?
MGM
Mechanic’s lien
General lien
Mortgage lien
Actual ownership of land for an unpredictable duration
Freehold estate
The user of a property is not the owner and the length of the interest is of a definite duration
Non-freehold estate
What are dower right, courtesy right, community property and Homestead protection all known as
Statutory estates
