Chapter 3 Flashcards
curtesy
corresponding
legal right that a husband has
to a portion of his deceased
wife’s real property upon her
death. Similar to dower,
curtesy provided a widower
with a life estate in a portion
of his deceased wife’s real
property, typically one-third.
dower
he legal right
that a wife has to a portion of
her deceased husband’s real
property upon his death.
Traditionally, dower provided
a widow with a life estate in
one-third of her husband’s
real property, ensuring that
she had a source of support
after his passing.
elective
share
legal
provision that allows a
surviving spouse to claim a
portion of their deceased
spouse’s estate, including
real property, even if the
deceased spouse’s will
attempts to exclude them.
encumbrance
any
claim, lien, or liability
attached to a property that
affects its title or use, such
as mortgages, easements, or
property taxes.
estate at
sufferance
when a
tenant remains in possession
of a property without the
landlord’s consent after the
lease agreement has expired.
estate
at will
type of
tenancy or lease agreement
that can be terminated at any
time by either the landlord or
tenant without advance
notice.
allowing a friend to
temporarily stay in your spare
bedroom without signing a
lease establishes an
estate at
will because either party can
end the arrangement at any
time.
estate
for years
type of tenancy or lease
agreement that has a specific
duration with a definite
beginning and end date.
Renting a vacation home for
two weeks during the
summer constitutes an
estate for years because the
tenancy has a fixed duration.
estate
from
period
-to-
period
type of
tenancy or lease agreement
that automatically renews at
the end of each rental period
unless terminated by either
party.
estate
in land
level or
extent of ownership one has
in real property. It can range
from full ownership to a
lesser interest like a lease.
fee
simple
highest form of ownership
interest in real property. It
grants the owner full and
unrestricted rights to use,
possess, and transfer the
property indefinitely.
Owning a house outright
without any limitations on
use or duration is an example
of
fee simple ownership.
freehold
ownership of
real property for an indefinite
period, such as owning a
house or land outright.
When you buy a home and
hold title to it, you have a
freehold interest in the
property.
homestead
property
designated as a primary
residence and protected by
law from certain creditors
and legal claims. It often
includes exemptions or
limitations on property taxes
and can provide a level of
protection in bankruptcy
proceedings.
interest
any right or claim a person
has in a property
leasehold
the right to possess
and use real property under a
lease agreement between the
tenant and landlord for a
specified period.
Renting an apartment under a
lease agreement gives you a
leasehold interest
life
estate
ype of
ownership interest in real
property that grants an
individual (life tenant) the
right to possess and use the
property for the duration of
their life.
police
power
government’s
authority to regulate land use
and enforce laws for the
health, safety, and welfare
of the public.
remainder
the future
interest in real property that
is granted to a third party
(remainderman) following the
termination of a life estate or
other estate.
A property owner grants a life
estate to their spouse and
designates their child as the
remainderman, what does this mean?
upon the spouse’s death,
ownership of the property
transfers to the child.
