Chapter 4 Interest In Real Estate

Question 1

The right of government to acquire privately owned real estate for public use

Answer 1

Eminent domain

Question 2

The process by which the government exercises right of eminent domain

Answer 2

Condemnation

Question 3

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

Answer 3

Taxation

Question 4

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

Answer 4

Escheat

Question 5

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

Answer 5

Estate in land

Question 6

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

Answer 6

Freehold estate

Question 7

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

Answer 7

Leasehold estate

Question 8

The highest interest in real estate recognized by law

Answer 8

Fee simple absolute

Question 9

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

Answer 9

Fee simple defeasible

Question 10

A State’s ability to enact legislation to preserve order, protect the public health and safety, and promote the general welfare.,

Answer 10

Police power