Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Real Estate > Estates > Flashcards

Estates Flashcards

1
Q

Curtsey

A

A life of a husband in the real estate of his deceased wife.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Dower

A

A life estate of a wife in the real estate of her deceased husband.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Estate at Will

A

Tenancy at will. A person occupies real estate with the permission of the owner.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Fee simple

defensible (almost the whole bundle)

A

The highest form of ownership in real estate. Provides complete bundle of rights.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Homestead

A

An exemption issued on a part of your property that provides protection from judgements and creditors for the duration of life. Exemptions are mortgage and real estate taxes.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Legal life estate

A

Concept of life estate are established by law.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Life tenant

A

A holder of a life estate. An estate in real property that ends at death.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Pur autre vie

A

Dependent on another person

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Fee simple estate

A

Fee simple defeasible (conditional)

Fee simple absolute (whole bundle)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Life Estate

A

Ordinary life estate

Legal life estate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Legal life estate

A

Dower
Curtsey
Homestead

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Estate in Land

A

Freehold estates

Non freehold estates

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Free hold estate

A

Immobility

Indeterminate duration

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Immobility

A

Land or interest that is attached to or has been derived from land.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Determinate duration

A

No fixed duration of ownership

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Freehold

A

Ownership

17
Q

Ownership

A

Freehold

18
Q

Freehold interest includes

A

Fee simple
Fee simple defeasible
Life estates

19
Q

The word freehold means…

A

Ownership

20
Q

Ownership rights that continue forever

A

Fee simple absolute

21
Q

Another name for legal estate

A

Determinable Fee

22
Q

Are life estates inheritable?

A

No, they are non-inheritable

23
Q

Jackson sells his estate… Jackson is the…

A

Grantor

24
Q

The seller of a property is the…

A

Grantor

25
Q

The most complete form of ownership a person can hold under law is a…

A

Fee simple ABOLute

26
Q

An ownership interest that will not transfer title until a condition is met is called

A

Fee simple with condition subsequent

27
Q

An ownership interest that has condition that limit ones ownership is

A

Fee simple qualified

Real Estate (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions