Chapter 7: Interest In Real Estate Flashcards
1
Q
The right of the government to acquire privately owned real estate for public use
A
Eminent domain
2
Q
Process by which the government exercises eminent domain by either judicial or administrative proceedings
A
Condemnation
3
Q
Charge on real estate to raise funds to meet the public needs of a government
A
Taxation
4
Q
Process by which the state may acquire privately owned real or personal property
A
Escheat
5
Q
Defines the degree, quantity, nature, and extent of an owners interest in real property
A
Estate in land
6
Q
Last for and indeterminable length of time
A
Freehold estate
7
Q
Unlimited duration they are said to run forever
A
Fee simple estate
8
Q
The highest interest and real estate recognized by law
A
Fee simple absolute
9
Q
Qualified estate is subject to the occurrence or not occurrence of some specified event
A
Feesimple defeasible
10
Q
A freehold estate limited induration to the wife of the owner the light of some other designated person
A
Life estate
11
Q
The creator of the life estate may name A remainderman is the person to whom the property will pass when the life estate ends
A
Remainder interest
12
Q
The creator of the life estate may choose not to name a remaindermen in that case the creator will recapture ownership in the life estate ends
A
Reversionary interest
13
Q
Not created voluntary by an owner
A
Legal life estate
Dower
Curtesy
Homestead
14
Q
A charge against property that provide security for a debt or obligation at the property owner
A
Lien
15
Q
Private agreement that affect land-use. Once placed in the deed by a previous owner they run with the land
A
Deed restrictions
16
Q
The right to use the land of another for a particular purpose
A
Easement
17
Q
Attached to the ownership of one parcel and allows the owner to use the neighbors land
A
Appurtenant easement
18
Q
The land that serves the other party
A
Servient tenement
19
Q
Dominating party benefited by the easement
A
Dominant Tenement
20
Q
Individual or company interest in a right to use someone else’s land
A
Easement in gross
21
Q
How do you create an easement
A
A written agreement between parties that establishes the easement rights
22
Q
Created by court order based on the principle that owners must have the right to enter and exit their land
A
Easement by necessity
23
Q
Made use of another’s land for a certain period of time as defined by state law
A
Easement by prescription
24
Q
A personal privilege to enter the land of another for a specific purpose
A
License
25
All or part of the structure illegally extends beyond the land of its owner beyond the legal building lines
Encroachment
26
Common-law rights granted to owners of land along the course of the river, stream, or similar body of flowing water
Riparian rights
27
Owners whose land borders commercially navigable lake, seas and oceans
Littoral rights
28
Gradual and imperceptible wearing away of the land by natural forces such as wind, rain, and flowing water
Erosion
29
The sudden removal of soil by an act of nature
Avulsion
30
Increases the land resulting from the deposit of soil by the waters action
Accretion
31
The rights to use any water, with in the exception of a limited domestic use, is controlled by the state rather than by the landowner adjacent to the water
Doctrine of prior appropriation
32
A city decides to build a new library. Which of the following terms best describes the actions taken by the city to acquire the land for the new library?
The city has the right to take the land by eminent domain as long as just compensation is paid the property owner
33
A purchaser of real estate learned that his ownership rights could continue forever and that no other person could claim to be the owner or exert any ownership control over the property. This person owns a?
Fee simple absolute interest
34
A person owned the feesimple title to a vacant lot adjacent to a hospital and was persuaded to make a gift of the lot. She wanted to have some control over its use, so her attorney prepared her deed to convey ownership of the lot to the hospital so long as it is used for hospital purposes. After completion of the gift, the hospital will own a?
Fee simple determinable
35
Your neighbors regularly use your driveway to reach their garage, which is on their property. Your attorney explains that ownership of the neighbors real estate includes an easement appurtenant giving them the right to do this. Your property is?
Servient tenement
36
A tenant who rents an apartment from the owner of the property holds a?
Leasehold interest
37
If the owner of real estate does not take action against a persistent trespasser before the statutory period has passed, the trespasser may acquire?
Easement by prescription
38
Property deeded to a town so long as it is used for recreational purposes conveys a?
The simple determinable
39
Property owner has the legal right to pass over the land owned by her neighbor. This is a?
Easement
40
What is a legal life estate?
Homestead
41
A father conveys ownership of his residence to his daughter but reserves for himself a life estate in the residence. The interest the daughter owns during her father's life time is?
A remainder
42
And owner has the fence on her property. By mistake, the fence extends one foot onto the property of a neighbor. The fence is an example of a?
Encroachment
43
Encumbrances on real estate?
Include easements and encroachments
44
A person has permission from the property owner to hike on the owners property during the autumn months. The hiker is a?
License
45
What can terminate an easement?
Owner of either property become sole owner of both
46
The type of easement that is the right-of-way for utility companies powerlines is a?
Easement in gross
47
Every state has the power to enact legislation to preserve order, protect the public health and safety, and promote the general welfare of its citizens
Police power
48
A statutory life the state that a family has in its residents is called?
Homestead
49
A person who has complete control over a parcel of real estate would most likely own a?
Feesimple estate
50
A portion of an owners building was inadvertently built on her neighbors land. This is called a?
Encroachment
51
Many states determine the order of water rights according to which users of the water hold a recorded beneficial use permit. This allocation of water rights is determined by?
The doctrine of prior appropriation
52
The purchase of a ticket for professional sporting event gives the bearer?
License to enter and claim a seat for the duration of the game
53
What estate would not have a definite duration?
Freehold estate
54
If the owner of the dominant tenement become the owner of the servient tenement and merges the two properties?
The easement is terminated
55
A descendent left a will giving a neighbor the right to use a well on the descendants land as long as the neighbor was alive. The neighbors interest in the property is properly called?
A personal easement in gross
56
A homeowner acquired the ownership of land that was deposited by a river running through a property. The additional land was acquired by?
Accretion
57
A fee simple owner of a vacant lot adjacent to a hospital was persuaded to make a gift of the lot. The owners attorney prepare a deed that conveyed the ownership of the lot to the hospital so long as it is used for medical purposes. After the completion of the gift, the hospital will own a?
Fee simple determinable estate
58
The most all-inclusive type of real property ownership is a?
Feesimple estate
59
The right of the owner of a property located along the banks of a river are called?
Riparian rights
60
Local utility company dug up a property owners garden to install a natural gas line. The company claims it had a valid easement improved it through the county records. The property owner claims the easement was not valid because the owner did not know about it. Does the company have a valid easement?
Yes, the easement was valid even though the owner did not know about it
61
The ownership rights to real estate do not include
Navigable rivers running through the property
62
Property owner tells her neighbor that he can store his bulldozer in her yard for a few weeks. The property owner did not charge her neighbor rent for the use of her yard. The property owner has given her neighbor?
A license
63
Creditors suing a homeowner who is entitled to a homestead exemption as provided by state law?
May request a court ordered sale and have the proceeds in excess of the statutory exemption and exempted liens applied to the debt
64
A property owner of 2 acres of land sold 1 acre to a neighbor and reserved an appurtenant easement over the neighbors land for ingress and egress. The neighbors land?
The servient tenement
65
And owner of 50 acres of land with 500 feet of frontage on the lake wishes to subdivide the parcel into lots but wants to retain control over the lake frontage while allowing lot owners to have access to the Lake. What would grant the greatest protection for a prospective purchaser?
An appurtenant easement
66
A homestead exemption protects against judgments..
Of unsecured creditors
67
The major intent of zoning regulations is too?
Ensure the health, safety, and welfare of the community
68
The owner of a secluded area adjacent to the Atlantic Ocean noticed that people from town walked along the shore in front of his property. The owner learned that the local citizens have been walking along the speech for years. The owner went to court to try to stop people from walking along the water's edge in front of the owners property. The owner is likely to be?
Unsuccessful because the owners property extends only to the high watermark and the public can use the land beyond that point
69
A deed conveys ownership to the grantee so as long as the existing building is not torn down. What type of the estate did this deed create?
A determinable fee estate
70
What is an example of a legal life estate?
Homestead estate
71
For land to be taken by the government under it's right of eminent domain, which of the following must apply?
The taking must be for a public purpose
72
A feesimple owner of the property conveys a life estate to a grandson and stipulates that upon the feesimple owners death, the estate will pass to the owner son-in-law. The son-in-law has?
An estate in remainder
73
A son conveys the ownership of his house to his mother and stipulates that upon her death he will recapture the ownership. The interest the son has in the ownership is?
Reversionary interest
74
The process by which the government can take ownership of a building that has deteriorated, with bricks falling on a public sidewalk, is?
Condemnation
75
And owner of an apartment building conveys the ownership of the building into a nursing home, anticipating that the rental income will help pay for the owners care there. When the owner dies, the estate will recapture ownership of the apartment building. The nursing home holds?
Life estate per auture vie
76
Developer grants the gas company the right to install transmission lines. This right is called?
An easement in gross
77
A lot is encumbered by a sewer easement that runs where the foundation of the building would be. How will this affect the owner who wants to build a house?
House must be constructed to avoid the easement
78
Owner divides the parcel into two lots, one of which is surrounded by other lots and has no street access. What is true?
An easement by necessity should be created for the landlocked parcel
79
A person wants to ensure that the ownership of real property can be will to her children. What form of ownership with the person want?
A fee estate
80
What are examples of an encumbrance?
A lien
An easement
A mortgage
81
A person who acquired ownership that can be inherited, with the provision of the land must always be used for religious purposes, has what?
A conditional fee estate
