Estate Flashcards
What is a General Durable Power of Attorney?
A legal document where the principal authorizes an attorney-in-fact (agent) to manage the principal’s financial/legal affairs.
Must be in writing, stays in effect even if the principal becomes incapacitated, only valid while the principal is alive, governed by Ohio law (ORC §§1337.21–.64).
Key players in a General Durable Power of Attorney
Principal – the person granting authority.
Attorney-in-Fact (Agent) – the person receiving the power to act on the principal’s behalf.
What is a Last Will and Testament?
A written document where the testator outlines how their assets should be distributed after death.
Must be witnessed by two people, takes effect only at death, appoints an executor, if no will exists, distribution follows Ohio’s intestacy law (ORC §2105.06).
Key players in a Last Will and Testament
Testator – the person who creates the will.
Executor – the person who carries out the will.
Heirs/Beneficiaries – those who receive the assets.
What is a Power of Attorney for Health Care?
A legal document where the principal appoints an agent to make health care decisions if the principal is incapacitated.
Must be in writing and either witnessed by two people or notarized, agent can authorize withdrawal of life-sustaining treatment only if two physicians declare an irreversible condition.
Key players in a Health Care Power of Attorney
Principal – the person giving decision-making power.
Health Care Agent – the person authorized to make medical decisions if the principal cannot.
What is a Living Will Declaration?
A written document stating a person’s wishes regarding end-of-life care (e.g., no life support).
Must be witnessed by two people or notarized, only goes into effect if two physicians determine the person is in an irreversible condition.
Key players in a Living Will Declaration
Declarant – the person making the declaration.
Physicians – two doctors must certify the irreversible condition before life-sustaining treatment is withdrawn.
What is personal property traditionally referred to as?
Chattel
What is the formal legal name for real estate ownership?
Title
What is a deed?
A legal document used to transfer title to real property.
What is the difference between real and personal property?
Real property is immovable (land/buildings), while personal property is movable (furniture, cars, etc.).
What is included in real property?
Land, buildings, and things permanently attached like trees and minerals.
What is the most common form of property ownership?
Fee simple (or fee simple absolute)
What is a warranty deed?
A deed that guarantees clear title and promises to defend it.
What is a quitclaim deed?
A deed that transfers only whatever interest the grantor has — with no warranties.
What is the difference between a deed and a title?
A deed transfers ownership; a title is the legal right of ownership.
Where did U.S. property law originate from?
English common law
What are rights normally held by someone with title to property?
The right of possession and the right to exclude others.
What is a servitude?
A legal burden or obligation that attaches to property, like a covenant or easement.
What is a covenant in property law?
A promise tied to land use — can be positive or negative — that binds future owners.
What is an easement?
The right to use another’s land for a specific purpose (e.g., utility lines, driveways).
What is a negative easement?
Prevents the property owner from doing something they normally could (e.g., blocking sunlight).
Once granted, can a property owner interfere with an easement?
No — only the easement holder can agree to change or remove it.
What is a ‘hostile user’ in adverse possession?
Someone using land without the owner’s permission.
What are the 5 requirements for adverse possession in Ohio?
Actual, Open, Hostile, Exclusive, and Continuous possession for 21 years.
What is the legal term for someone trespassing and using land with no permission?
Adverse possessor (or hostile user)
What is a fee simple estate?
The most complete and unrestricted form of property ownership.
What is a life estate?
Property interest lasting for the life of a specified person.
What is joint tenancy?
Ownership by two or more people with equal interests and rights of survivorship.
What is tenancy in common?
Co-ownership without rights of survivorship; each owner can transfer their share independently.
What is a leasehold estate?
A tenant’s right to use and occupy real estate for a set period under a lease.
What is required in a valid lease agreement?
Names of parties, property description, lease term, and rent amount.
What duty does a landlord have to tenants?
The duty to make essential repairs.
What legal right allows utility companies to access private property?
An easement (typically a utility easement).
What is a binding obligation that transfers with the land to future owners?
A covenant
What clause in a deed might restrict building fences in a subdivision?
A covenant or restrictive covenant
