Encumbrances Chapter 3 Flashcards
A (BLANK) is a document that uses a property to secure the payment of a debt or the discharge of an obligation. It is money owed for one reason or another on a property.
LIEN
Liens are either:
1.Specific
2.General
3.Voluntary
4.Involuntary
(BLANK) LIENS are money debts that an owner agrees to pay.
VOLUNTARY
(BLANK) LIENS are money obligations that create a burden on a property by government taxes or legal action because of unpaid bills.
INVOLUNTARY
(BLANK) LIENS are liens against just one property.
SPECIFIC
(BLANK) LIENS are liens on all the properties of the owner, not just one
GENERAL
A (BLANK) is a lien that secures real property for the payment of a promissory note(debt). **(BLANKS) **are rarely employed in financing California homes, but because of their wide use in other states, they are emphasized in the real estate licensing examination.
a volunatary ans specifc lien
MORTGAGE
(BLANK’S) LIENS are liens that may be filed against a property by a person who was not paid after furnishing labor or materials for construction work on that property.
MECHANIC’S
A mechanic’s lien is filed against a property and must be (BLANK) to be valid.
RECORDED
A (BLANK) NOTICE is a written notice that must be given before filing a mechanic’s lien and within 20 days of supplying labor or services.
PRELIMINARY
A “Notice of (BLANK),” in order to be valid, should be recorded by the owner within 10 days of completion, thereby limiting the general contractor to 60 days to file a claim and subcontractors to 30 days.
mechanic’s liens
COMPLETION
A recorded and verified NOTICE OF (BLANK) is posted on the property stating that the owner is not responsible for the work being done.
applies to mechanic’s lien
NON-RESPONSIBILITY
Voter approved local improvements are paid by the property owners in a given district through (BLANK). Improvements such as streets, sewers, street lighting, and irrigation projects are generally paid for by the property owners who have benefited from thework. If these (BLANK) are not paid, they become a lien against the property. Most** (BLANK)** are 10- to 30-year bonds.
SPECIAL ASSESSMENTS
A (BLANK) is a court decision determining the rights of the parties involved and the amount of compensation.
type of involuntary and general lien
JUDGMENT
(BLANK) is a process of the law that creates a lien. It gives custody of real or personal property to the court to assure payment of a pending lawsuit in that county.
ATTACHMENT
(BLANK) is the recording of a notice with the county recorder’s office warning all persons that a certain type of lawsuit is pending concerning a particular property.
LIS PENDENS
An (BLANK) is a court order which can restrict a party from doing an act such as violating private deed restrictions
INJUNCTION
An (BLANK) is an interest in land owned by another person consisting of the right to use or control the land, or an area above or below it, for a specific, limited purpose.
type of encumbrance
EASEMENT
What are the 2 types of easements:
- Easements appurtenant (runs with the land)
- Easements in gross
An EASEMENT (BLANK) is an easement “created for and beneficial to” the owner of adjoining or attached lands.
APPURTENANT
The (BLANK) TENEMENT is the land that obtains the benefits of an easement.
DOMINANT
A (BLANK) TENEMENT is the land that GIVES the easement (use of the land) forthe benefit of another.
SERVIENT
An EASEMENT IN (BLANK) is not attached to any particular land or dominant tenement. It is an easement created for the benefit of others who do not own adjoining or attached lands.
GROSS
3 ways to create an easement:
- Express Grant (in writing)
2.Implication of Law (implied easement) (necessary for use of land)
3.Long Use (prescription)
Possession for five continuous years can create a prescriptive easement, as long as the use is:
1. Open and notorious,
2. Uninterrupted for five years
3.Under a claim of right or color of title, and
4. Hostile (without permission of the owner)
4 ways to terminate an easement:
- Express release(in writing)
- Merger of dominant and servient tenement
- excessive use
- abandonment/non-use
PRIVATE DEED RESTRICTIONS limit the use or occupancy of the land.
A (BLANK) is a promise to do or not to do a certain thing.
COVENANT
A (BLANK) is a future and uncertain event which must happen to create an obligation to extinguish an existing obligation. The penalty for not following the set conditions is the **reversion **of the property to the grantor.
CONDITION
PUBLIC RESTRICTIONS are limits made by governmental agencies, usually by cities and counties, in the form of zoning
(BLANK) is the restriction on the use of private property by the local governmentagency.
ZONING
AN (BLANK) is the wrongful, unauthorized placement ofimprovements or permanent fixtures on property by a non-owner of that property.
ENCROACHMENT
