Interest in Real Estate

Question 1

When an individual dies, leaves no will, and has no statutory heirs, any real property will transfer to the state through a process called

Answer 1

Escheat

Question 2

A private restriction, and it is conveyed in the deed to the current property owner

Answer 2

Deed restriction

Question 3

Escheat is intended to prevent property being

Answer 3

Ownerless or abandoned

Question 4

A tenant who rents an apartment from the owner of the property holds

Answer 4

A leasehold interest

Question 5

a legal life estate in real estate that is occupied as the family home

Answer 5

Homestead

Question 6

Type of easement that gives a person the right to use a parcel of land owned by someone else

Answer 6

Easement in gross

Question 7

The land to which an easement is attached

Answer 7

Dominant tenement

Question 8

The land upon which a burden or servitude is laid

Answer 8

Servient tenement

Question 9

A claim against real property to secure repayment of a debt is

Answer 9

A lien

Question 10

A wife’s interest in a property is

Answer 10

Dower rights

Question 11

Husbands interest in a property

Answer 11

Curtesy

Question 12

An interest in land, owned completely without any limitations or conditions

Answer 12

Few simple absolute

Question 13

A type of property ownership where the ownership is dependent on specific conditions. If the conditions are violated, the property may be returned to the grantor or a specified 3rd party.

Answer 13

Fee simple defeasible

Question 14

Absolute ownership with inheritable interest, and no strings attached

Answer 14

Fee simple absolute

Question 15

The right of a government body to take ownership of real estate for public use

Answer 15

Eminent domain

Question 16

A person who has complete control of a parcel of real estate is said to own

Answer 16

A fee simple estate

Question 17

A right in, or claim against, property held by someone other than property owner

Answer 17

Encumbrance

Question 18

Court action to acquire private real estate through eminent domain

Answer 18

Condemnation

Question 19

A home owner may be allowed certain protections from judgements of creditors as a result of the states

Answer 19

Homestead rights

Question 20

The right of every state to enact and enforce legislation to preserve order, protect the public health and safety, and promote general welfare of its citizens

Answer 20

Police power

Question 21

Four governmental powers that limit private rights to ownership of land

Answer 21

Police power
Eminent domain
Taxation
Escheat

Question 22

Property that an individual owns and may use for the duration of their lifetime

Answer 22

Life estate

Question 23

Estate of indefinite duration that can exist for a lifetime or forever

Answer 23

Free hold estate

Question 24

Private limitations on the use of land

Answer 24

Covenants, conditions, restrictions

Question 25

Individual or company interest in or right to use another’s land

Answer 25

Easement in gross

Question 26

Land has no access to street or public way

Answer 26

Easement by necessity

Question 27

Claimant has acquired use of another’s land through continuous, non exclusive, visible, open and notorious use for a period of time

Answer 27

Easement by prescription

Question 28

Personal privilege to enter another’s land for specific purpose

Answer 28

A license

Question 29

All of parts of a structure illegally intrude on the land of another beyond legal building lines

Answer 29

Encroachment

Question 30

Notice of litigation in progress that may affect title to property

Answer 30

Lis Pendens

Question 31

Private property suing for just compensation by the government or a public agency that damaged or devalued a property in the process

Answer 31

Inverse condemnation