Important Flashcards
3 day, 30 day, 60 day, 90 day eviction
3 day - late rent - settle or leave Also for property damage, illegal activity, etc. 30 day - less than 1 year rent 60 day - more than 1 year rent 90 day - subsidized housing
Township, Section
24x24 mi base maradian = 16 townships. 36 sections in a township
1 section = 1mi^2 = 640 acres
Mile in feet
5028
Acre in feet
43560 sq ft = 1 acre
Conditions to be a fixture
Method of Attachment, relationship of parties, intent,
Fee simple estate
indefinite duration, inheritable, transferable
Less than freehold estate
Lease
Tenancy in common vs joint tenancy
joint tenancy: Unity of Possession(undivided interest), Unity of Time (take title same time), Unity of Title (same deed), Unity of Interest (ownership)
Judicial vs. non-judicial foreclosure
Judicial (sheriffs sale) - debt still due, involves court. 1 year right of redemption.
Non-judicial : no right of redemption, no debt,
Essential elements of a deed
1) be in writing, 2) Identify the parties, 3) signed by a competent grantor, 4) living grantee, 5) words of conveyance, 6) accurate and adequate description of the property, 7) delivery and acceptance
Ways to create an easement
Grant(written agreement of the parties), Intent or Necessity, By prescription (like adverse), By implication, By reference to a recorded plat, By dedication, By condemnation
Ways to terminate an easement
1) release of the easement, 2) merging of the dominant and servant lands, 3) non use, 4) purpose ceasing to exist, 5) By prescription
Tax year
1st date / 2nd date taxes due
TaxyearJuly1-June30
Nov 1/ feb 1st
Non conforming vs variance vs conditional use
new zoning conflict / small exception to the permitted use / church
Monetary policy
controlling interest rates, controlling amount of money in circulation and controlling member bank’s reserve ratios.
Base/maridian, township/range
ew/ns 6 mi spacing, ew/ns 1 mi spacing
Realitor
Member of national association of realitors
Standard vs Alta title
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