Encumbrances on Real Property Flashcards
Which of the following liens has top priority?
Real Property Taxes
Which of the following liens is NOT required to be recorded in order to be valid?
Ad Valorem tax lien
A property owner has the legal right to pass over the land of his neighbor to access his property. He holds
An easement appurtenant
A lot is encumbered by a sewer easement that runs where the property owner wishes to put the foundation of a house. How will this placement affect construction?
The house must be constructed to avoid the easement.
The property Sam bought 30 years ago had an appurtenant easement for access. Twenty years ago the county built a new road, and Sam has not used the easement since that time. When Sam sells the property, the easement
remains in place and will transfer with the property
When a personal judgement is properly recorded in the county in which the defendant resides and owns real property, the judgment becomes
an involuntary lien
A town wants to construct new concrete curbs in a residential neighborhood. How will the town most likely raise the money necessary for the improvement?
Special assessment
The owner of two acres of land sold one acre but retained an appurtenant easement over that land for ingress and egress to his retained lot. The retained lot
is the dominant tenement
In North Carolina, all real property MUST be reassessed every
8 years
A state income tax lien would be properly classified as
a general lien
When an individual holds an interest in another person’s property, it is
an encumbrance
When a survey reveals that the neighbor’s fence extends over the property line, this is an example of
an encroachment
The ad valorem property tax rates may be adjusted every
year
The North Carolina tax rates are determined by dividing the tax amount by
$100
Real property taxes are computed based on
the assessed value
Assessed value x tax rate = property tax
