Chapter 5 Flashcards
What is a lien?
A right given to a person or certain creditors to secure a debt by a defaulting debtor. Financial claims against property to ensure payment.
Do liens attach to the owner or to the property?
The property
Taxes always have the first recorded claim against the property. Taxes supersedes all other liens. True or false.
True.
Would property tax get paid before a lien?
Yes
The right given to a person to enter another person’s property is?
An easement
Which one is a non possessory right? Easement or easement appurtenent
An easement
Right of way pertains to easements or easements appurtenances?
Easement appurtenant
Which estate or property is benefitting from the easement is?
Dominant estate (not serving(
Which property serves as access or usage for a dominant estate?
Servient estate
What is easement appurtenant?
The permanent right to use the land of another
What is an easement
The right given to a person to enter another person’s property
What is an easement by necessity?
If property b is landlocked and has to go onto property A in order to get onto the street and leave.
What do you think of when you hear land locked?
Easement by necessity
Property A has a fence that extends onto property B’s property line. A survey is the best way to detect this problem. What is this an example of?
Encroachment
A Servient estate serves a dominant estate because they are given the dominant estate a way to the road. True or false.
True
An easement upon another’s real property acquired by continued use without permission of the owner for a legally defined period of 10 years is known as?
A prescriptive easement
How many years does it take to reach a prescriptive easement?
10 years
If I’ve been using your property to get to the other side of the block and you haven’t stopped me, I can legally use that piece of your property after it’s been going on for 10 years (tackling). What is this?
A prescriptive easement
Can you tackle on someone else’s prescriptive easement?
Yes
You may feel bad using your neighbors property for 10 years to do something useful, so you would get a what?
Prescriptive easement
Granted when one person makes open and notorious use of another’s property for a period of 10 years. Which could utilamtekh grant title to that portion of the land that originally belongs to someone else. What is this?
Adverse possession
What usually comes before adverse possessions.
Encroachment
What does adverse possession ultimately grant you?
It could grant title to the portion of the land that you have openly been using for 10 years, even though it originally belongs to someone else
Which is considered a lien on real estate
A. An easement running with the land.
B. An unpaid mortgage.
C. A public
D. A licensed to erect a billboard.
An unpaid mortgage loan
An instrument that provides for a right of use agreement and determinable at the will of the issuer is best described as?
A. Lease
B. License
C. Encumbrances
D. easement
A license
The financial claim or charge against the property of another that provides security for a debt or obligation of the property owner is
A. Lein
B. An easement.
C. An encroachment.
D. An adverse possession.
A lien
Unless an action of foreclosure on a contractors mechanics lien commences, his mechanics lien will remain against the property for at least
A. Four months.
B. Eight months.
C. One year.
D. 10 years.
One year
If a contractor remains unpaid for roofing, a ranch home, how long does he have an order to file a valid and enforceable mechanics lien?
Four months
If a buyer purchases a cottage that has an unpaid mechanics lien recorded against it, and the lien was previously placed by the workman who was not paid by the former owner for constructing a dock, what does that do to the lien?
It remains as a claim against the property
The farmer who allowed promoters to run the festival on his land, most likely granted them a what?
A license
What best describes the expression use the rights or lose the rights?
Laches
How are encroachments easily discoverable?
Physical inspection of the property or by performing a survey
The lien with first claim against any parcel of real estate in New York is
A. Unpaid property tax
B. A mechanics lien
C. A first mortgage
D. The IRS
Unpaid property tax
Who are deed restrictions created by?
Seller
What are the two general classifications of encumbrances?
Liens and usage encumbrances
If liens are financial claims against a property, what is restrictions, easements, and encroachments?
Usage encumbrances
A write or interest in a property held by a party who is not the owner. Any claim against a property that limits the ability to sell it.
Encumbrance
This is not classified as an encumbrance because it is not a permanent right, but it is a privilege to enter land or to use something of someone else’s first specific purpose is known as what?
A license
Can theypermission given by a license be withdrawn in regard to encumbrances?
Yes it’s terminable at the will of the licensor
Name the big four types of liens
Real estate, tax lien, mechanics, lien, judgment, mortgage lien
Created by the owners, voluntary action, such as placing a mortgage loan is what kind of lean? Voluntary or involuntary
A voluntary lean
A lien created by law
Involuntary lien
Spot the difference
Real estate tax lien: specific and involuntary
Mechanics lien: specific, involuntary
Judgment- general, involuntary
Mortgage lien- specific, voluntary
Judgment is general
Mortgage lien is voluntary
Liens can be classified as specific or general, and involuntary or voluntary. True or false?
True
A lien that usually affects all the property of a debtor, both real and personal.
General liens
Liens that are secured by a specific parcel of real estate and affect only that particular property
Specific
A decree issued by a court to pay a debt such as an unpaid bill
A judgment
What do judgements become against all real property owned by an individual in that county?
A lien
At what point does a judgement become a general involuntary lien on all real property?
When it is docketed or filed in the county clerks office
Can judgements become a lien against personal property sometimes too, or only real property?
Yes they can
A decree that provides for money to be awarded to the creditor
Money judgment
How do judgments and mortgages differ?
In a lien, a specific parcel of real estate was never given as security for the debt
How many years is a judgment a lien against real property for?
10 years, and it can be renewed for 10 more
When a lien has been paid or been considered satisfied
Satisfaction of lien
The party that benefited from the lien is required to remove the lien when it has been paid off. This is achieved through the recording of which document?
Satisfaction of lien
A right acquired by one party to use the land of another party for special purpose is
An easement
How are easements commonly created ?
By written agreement between the parties
What are the 2 principle type of easements ?
Appurtenance or in gross
Environmental lien is under the environmental cleanup act called?
CERCLA
Comprehensive environmental response, compensation, and liability act
Who does the environmental lien under CERCLA attach too?
The property subject to the cleanup
Collateral = ?
Mortgage
When does a mortgage become a voluntary lien on real estate given to a lender by a borrower as security for the repayment of a loan?
When The mortgage funds are disbursed
The mortgage document is signed by the mortgagor (borrower)
The same is delivered to the mortgagee (lender)
The mortgage is recorded
When a building or fence or driveway extends beyond the land of its owner and covers some of yours
Encroachment
How are encroachments usually disclosed ?
Either a physical inspection
Or a survey
If you face encroachment on your property, you may be able to recover damages or the removal of the encroachment. True or false?
True
Encroachments of 10 years may give rise to what?
Adverse possession
(a title to real property is acquired if possessed but not owned for a prescribed period of time: easement by prescription)
Shared by 2 buildings and constructed on the boundary line between 2 owners lots is known as as?
A party wall
What is a party wall?
There’s owners on one side on their wall that they own and an easement on the other half. This goes for both parties sharing the 2 buildings on the same property line.
Nonpossessory rights
Person does not occupy the property or have the right to the property
A lien placed against a specific property by workers or suppliers who have not been paid for labor or materials used in construction, improvement, or repairs of that property
Mechanic lien
Four types of easements:
Appurtenance, in gross, by necessity, by prescription
Private agreements that affect the use of land are?
Deed restrictions and covenants
Who are deed restrictions typically imposed by?
A developer of subdivider
The purpose behind deed restrictions is to maintain a specific standard in a subdivision or to require that a property be used for a specific purpose. True or false.
True
Feed restrictions must be enforced within BLANK years from the time of the violation of a restriction.
Two years
What does the Doctrine of Laches state?
That deed restrictions have to be enforced within 2 years form the time of the violation of a restriction. And if you fail to do so within the 2 years, it results in the loss of your right to enforce the restriction
Right of way =
Easement appurtenance
Liens are only general or specific, and voluntary or involuntary. True or false.
True
CERCLA stands for?
comprehensive environmental response compensation liability act
If you have contamination on your property who is that the owner according to ?
CERCLA
Does CERCLA or SERA give homeowners immunity from having to deal with contamination on their property if they got their property checked for contamination.m before buying it?
SERA
Liens on property affect title, yes or no?
Yes, no one wants to by a property with a lien on it. They can buy who would. They’d want the lien satisfied beforehand.
When does a tile search occur?
After buyers got their commitment letter
Do real estate taxes have priority over liens?
Yes
Do deed restrictions trump zoning in the area?
Yes
What is an example of a voluntary lien?
A mortgage
Are liens on title search or public records?
Title search
