Chapter 7: Interest In Real Estate Flashcards
Accretion
A homeowner acquired the ownership of land that was deposited by a river running through a property. The additional land was acquired by?
Appurtenant easement
Attached to the ownership of one parcel and allows the owner to use the neighbors land
Avulsion
The sudden removal of soil by an act of nature
Condemnation
Process by which the government exercises eminent domain by either judicial or administrative proceedings
Deed restrictions
Private agreement that affect land-use. Once placed in the deed by a previous owner they run with the land
Doctrine of prior appropriation
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
Dominant Tenement
Dominating party benefited by the easement
easement by necessity
Owner divides the parcel into two lots, one of which is surrounded by other lots and has no street access. What is true?
Easement by prescription
If the owner of real estate does not take action against a persistent trespasser before the statutory period has passed, the trespasser may acquire?
An easement in gross
Developer grants the gas company the right to install transmission lines. This right is called?
Eminent domain
The right of the government to acquire privately owned real estate for public use
Erosion
Gradual and imperceptible wearing away of the land by natural forces such as wind, rain, and flowing water
Estate in land
Defines the degree, quantity, nature, and extent of an owners interest in real property
an estate pur autre vie
“for the life of another. Although a life estate is not considered an estate of inheritance, a life estate pur autre vie provides for inheritance by the life tenant’s heirs only until the death of the person against whose life the estate is measured.
Fee simple absolute
The highest interest and real estate recognized by law
fee simple defeasible
a qualified estate, that is, it is subject to the occurrence or nonoccurrence of some specified event. Two types of defeasible estates exist: those subject to a condition subsequent and those qualified by a special limitation.
Fee simple determinable
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?
Freehold estate
Last for and indeterminable length of time
Homestead estate
What is an example of a legal life estate?
Leasehold interest
A tenant who rents an apartment from the owner of the property holds a?
License
A person has permission from the property owner to hike on the owners property during the autumn months. The hiker is a?
Life estate
A freehold estate limited induration to the wife of the owner the light of some other designated person
Littoral rights
Owners whose land borders commercially navigable lake, seas and oceans
Police power
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
Remainder interest
The creator of the life estate may name A remainderman is the person to whom the property will pass when the life estate ends
Reversionary interest
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
Riparian rights
The right of the owner of a property located along the banks of a river are called?
Servient tenement
The land that serves the other party
