CH 4 - Interests in Real Estate

Question 1

Freehold Estate

Answer 1

lasts forever

Question 2

Fee simple

Answer 2

the highest estate recognized by law

Question 3

Fee simple defeasible

Answer 3

an estate that is qualified because it is subject to the occurrence or nonoccurrence of a specified event.

Question 4

Life Estate

Answer 4

based on the lifetime of the tenant or someone else (pur autre vie/for the life of another)

Question 5

encumbrance

Answer 5

claim, charge, or liability that attaches to real estate.

Question 6

lien

Answer 6

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

Question 7

Covenants, conditions, and restrictions (CC&Rs)

Answer 7

private limitations on the use of land

Question 8

Easement

Answer 8

the right to use the land of another, usually a written agreement

Question 9

Easement appurenant

Answer 9

Runs with the land when title is transferred

Question 10

The dominant tenement:

Answer 10

benefits from the easement, which runs over the servient tenement.

Question 11

Easement in gross

Answer 11

an individual or company interest in or right to use another’s land

Question 12

Easement by necessity

Answer 12

when land has no access to a street or public way.

Question 13

Easement by prescription

Answer 13

acquired when a claimant has used another’s land for the period required by law. The use must be continuous, nonexclusive, visible, open, and notorious.

Question 14

Termination of easement

Answer 14

1. when the need for an easement no longer exists
2. when the owner of a either the dominant or servient tenement becomes the owner of both
3. when the owner of a servient tenement releases the right of easement
4. if the easement is abandoned
5. or by the nonuse of a prescriptive easement

Question 15

License

Answer 15

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

Question 16

Encroachement

Answer 16

when all or part of a structure illegally intrudes on the land of another or beyond legal building lines

Question 17

Lis Pendens

Answer 17

Gives notice of litigation in progress that may affect title to property

Question 18

Government Powers (PETE):

Answer 18

P Police Power
E Eminent Domain
T Taxation
E Escheat

Question 19

Police Power

Answer 19

the State’s authority, passed down to counties and municipalities through enabling acts, to legislate to preserve order, protect the public health and safety, and promote the general welfare of citizens.

Question 20

Eminent domain

Answer 20

the government’s right to to acquire privately owned real estate for a public or economically beneficial use through condemnation.

Question 21

Taxation

Answer 21

a charge on real estate to raise funds to meet public needs

Question 22

Escheat

Answer 22

when the state takes control of property after the owners dies leaving no will or lawful heirs

Question 23

Taking of property

Answer 23

The Fifth Amendment to the U.S. Constitution requires that the owner be given just compensation.

Question 24

Inverse Condemnation

Answer 24

A property owner wants to claim compensation if an adjacent public land use diminishes the value of the owner’s property but the property has not been condemned for public use