Chp 3 - Liens & Encumbrances Flashcards
1
Q
Difference between a condition and a convenent
A
A condition can only be created when there’s a transfer of ownership
2
Q
What lien DOES convey ownership
A
Morgage Lien
3
Q
What type of lien takes priority
A
Real property tax lien
4
Q
How can the priority of a jr lien be changed
A
Voluntarily
5
Q
Two types of easements
A
Appurtenant and Gross
6
Q
Appurtenant Easement
A
Attaches to estate and transfers
7
Q
Easement in Gross
A
Personal right to use and does not attach to estate
8
Q
2 Types of Deed Restrictions
A
Covenant and Conditions
9
Q
Covenants
A
created by mutual agreement, if breached an injuction can force compliance
10
Q
Condition
A
Created within transfer docs
