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Real Estate > Chapter 7: Interest In Real Estate > Flashcards

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

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2
Q

Process by which the government exercises eminent domain by either judicial or administrative proceedings

A

Condemnation

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3
Q

Charge on real estate to raise funds to meet the public needs of a government

A

Taxation

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4
Q

Process by which the state may acquire privately owned real or personal property

A

Escheat

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5
Q

Defines the degree, quantity, nature, and extent of an owners interest in real property

A

Estate in land

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6
Q

Last for and indeterminable length of time

A

Freehold estate

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7
Q

Unlimited duration they are said to run forever

A

Fee simple estate

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8
Q

The highest interest and real estate recognized by law

A

Fee simple absolute

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9
Q

Qualified estate is subject to the occurrence or not occurrence of some specified event

A

Feesimple defeasible

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10
Q

A freehold estate limited induration to the wife of the owner the light of some other designated person

A

Life estate

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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

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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

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13
Q

Not created voluntary by an owner

A

Legal life estate
Dower
Curtesy
Homestead

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14
Q

A charge against property that provide security for a debt or obligation at the property owner

A

Lien

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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

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16
Q

The right to use the land of another for a particular purpose

A

Easement

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17
Q

Attached to the ownership of one parcel and allows the owner to use the neighbors land

A

Appurtenant easement

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18
Q

The land that serves the other party

A

Servient tenement

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19
Q

Dominating party benefited by the easement

A

Dominant Tenement

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20
Q

Individual or company interest in a right to use someone else’s land

A

Easement in gross

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21
Q

How do you create an easement

A

A written agreement between parties that establishes the easement rights

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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

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23
Q

Made use of another’s land for a certain period of time as defined by state law

A

Easement by prescription

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24
Q

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

A

License

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25
Q

All or part of the structure illegally extends beyond the land of its owner beyond the legal building lines

A

Encroachment

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26
Q

Common-law rights granted to owners of land along the course of the river, stream, or similar body of flowing water

A

Riparian rights

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27
Q

Owners whose land borders commercially navigable lake, seas and oceans

A

Littoral rights

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28
Q

Gradual and imperceptible wearing away of the land by natural forces such as wind, rain, and flowing water

A

Erosion

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29
Q

The sudden removal of soil by an act of nature

A

Avulsion

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30
Q

Increases the land resulting from the deposit of soil by the waters action

A

Accretion

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31
Q

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

A

Doctrine of prior appropriation

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32
Q

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?

A

The city has the right to take the land by eminent domain as long as just compensation is paid the property owner

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33
Q

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?

A

Fee simple absolute interest

34
Q

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?

A

Fee simple determinable

35
Q

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?

A

Servient tenement

36
Q

A tenant who rents an apartment from the owner of the property holds a?

A

Leasehold interest

37
Q

If the owner of real estate does not take action against a persistent trespasser before the statutory period has passed, the trespasser may acquire?

A

Easement by prescription

38
Q

Property deeded to a town so long as it is used for recreational purposes conveys a?

A

The simple determinable

39
Q

Property owner has the legal right to pass over the land owned by her neighbor. This is a?

A

Easement

40
Q

What is a legal life estate?

A

Homestead

41
Q

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

A remainder

42
Q

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?

A

Encroachment

43
Q

Encumbrances on real estate?

A

Include easements and encroachments

44
Q

A person has permission from the property owner to hike on the owners property during the autumn months. The hiker is a?

A

License

45
Q

What can terminate an easement?

A

Owner of either property become sole owner of both

46
Q

The type of easement that is the right-of-way for utility companies powerlines is a?

A

Easement in gross

47
Q

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

A

Police power

48
Q

A statutory life the state that a family has in its residents is called?

A

Homestead

49
Q

A person who has complete control over a parcel of real estate would most likely own a?

A

Feesimple estate

50
Q

A portion of an owners building was inadvertently built on her neighbors land. This is called a?

A

Encroachment

51
Q

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?

A

The doctrine of prior appropriation

52
Q

The purchase of a ticket for professional sporting event gives the bearer?

A

License to enter and claim a seat for the duration of the game

53
Q

What estate would not have a definite duration?

A

Freehold estate

54
Q

If the owner of the dominant tenement become the owner of the servient tenement and merges the two properties?

A

The easement is terminated

55
Q

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

A personal easement in gross

56
Q

A homeowner acquired the ownership of land that was deposited by a river running through a property. The additional land was acquired by?

A

Accretion

57
Q

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?

A

Fee simple determinable estate

58
Q

The most all-inclusive type of real property ownership is a?

A

Feesimple estate

59
Q

The right of the owner of a property located along the banks of a river are called?

A

Riparian rights

60
Q

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?

A

Yes, the easement was valid even though the owner did not know about it

61
Q

The ownership rights to real estate do not include

A

Navigable rivers running through the property

62
Q

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

A license

63
Q

Creditors suing a homeowner who is entitled to a homestead exemption as provided by state law?

A

May request a court ordered sale and have the proceeds in excess of the statutory exemption and exempted liens applied to the debt

64
Q

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?

A

The servient tenement

65
Q

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?

A

An appurtenant easement

66
Q

A homestead exemption protects against judgments..

A

Of unsecured creditors

67
Q

The major intent of zoning regulations is too?

A

Ensure the health, safety, and welfare of the community

68
Q

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?

A

Unsuccessful because the owners property extends only to the high watermark and the public can use the land beyond that point

69
Q

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

A determinable fee estate

70
Q

What is an example of a legal life estate?

A

Homestead estate

71
Q

For land to be taken by the government under it’s right of eminent domain, which of the following must apply?

A

The taking must be for a public purpose

72
Q

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?

A

An estate in remainder

73
Q

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?

A

Reversionary interest

74
Q

The process by which the government can take ownership of a building that has deteriorated, with bricks falling on a public sidewalk, is?

A

Condemnation

75
Q

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?

A

Life estate per auture vie

76
Q

Developer grants the gas company the right to install transmission lines. This right is called?

A

An easement in gross

77
Q

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?

A

House must be constructed to avoid the easement

78
Q

Owner divides the parcel into two lots, one of which is surrounded by other lots and has no street access. What is true?

A

An easement by necessity should be created for the landlocked parcel

79
Q

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

A fee estate

80
Q

What are examples of an encumbrance?

A

A lien

An easement

A mortgage

81
Q

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

A conditional fee estate

Real Estate (25 decks)

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