Legal Aspects Flashcards
Grant Deed
Special or limited warranty deed =>
Legal document used to transfer real estate between the previous owner ( grantor ) and the new owner Grantee.
life tenant
A person to whom a life estate conveys
Fee Simple qualified
An estate in which the holder has a fee simple title that is subject to return to the grantor if a specified condition occurs
Range
Public land survey system (PLSS) / land description, consist of strip of located every six miles each of east principal meridian.
Emblements
Annual crops produced for sale by a tenant using or occupying the property.
Arm’s Length Transaction
Which all parties acting in the own self-interests /unrelated, unaffiliated parties/ agrees to do business for their self-interests.
Alluvial Deposit
Sand or Mud carried by water and deposited in land .
Avulsion
The sudden washing or tearing a way of the land by action of water
Alienate
Transfer ownership or sell.
Chattel
An item of personal property which is connected to real estate. for example a lease
Acceptance
An unqualified agreement to the terms of an offer.
Ratified
approved
Patents
Deeds used by the US government when confirming or transferring ownership to private parties.
Vested
owned by
Linear foot
A measurement meaning , one foot or twelve inches in length as contrasted to a square foot or cubic foot
Accession
acquisition of the title to additional land or to improvement as a result of annexation of fixtures.
Abrogation
cancellation for any part of the same, which has not been met/fulfilled as of yet.
estoppel
prohibits someone from taking a position that is contrary to what they have previously stated.
patent DEED
Deed given by the government to a private individual as evidence of transfer of title from the government to the public person.
memorize these :
Accertion = Accert / Create
Erosion -= Erode
Alluvion = sounds like the name of a mineral which reminds me of a type of sediment
Reliction = Reveal (slowly reveals land hidden by water)
AVulsion = Violent
Lispendense
Pending litigation on the property that prevent the conveyance or any other transfer of the ownership.
Section
1/36 of the township/ 640 acres/ land area of one square mile/ used in PLSS
Appurtenance
Those rights that belong to and pass with the transfer of the real property but are not necessary a part of actual property. .
Easement
a right of way
Police power
The power of state to pass law within lawful limits => Safety Health Morals
Parol Evidence
Oral or written negotiation made prior to a dispute about an executed contract.
Easement in Gross
public utilities / An easement that is not Apportunant to any one parcel.
Township
PLSS => 6 by 6 miles / 36 sections/ each one mile square
Duress
The use of force to get agreement in accepting a contract.
Meridian
north to south / used as a reference when mapping land
Revoke
Recall and make void
Baseline
use as a reference / running east to west
undue influence
using unfair advantage to get agreement in accepting a contract.
Ratification
the act of the buyer and seller accepting the offer, agreeing to all terms, and signing the now ratified contract.
Estate in Fee
Free simple estate, freehold estate , fee, fee simple absolute. / estate of inheritance.
Fee simple defeasible / Fee simple qualified
Holder has a fee simple title, subject to return to the grantor if a specified condition occurs .
Land Grant
A grant of public lands by the government usually for roads , railroads, or agricultural colleges.
conversion
The appropriation of the property belonging to another.
Bill of Sale
Written Agreement used to transfer ownership in personal property.
littoral
running water / land bordering lake , Ocean, Sea..
Condition Precedent
Condition requires something happen before a transaction become absolute and enforceable.
Condition Subsequent
A condition if ocurrs in the future , can cause the property to revert back to the grantor.
Doctrine of Correlative user
owners may only use a reasonable amount of water supply for beneficial use.
SALES contract = Purchase offer
primary document used to present an offer on real property.
joint tenancy with right of survivorship will be created by
Deed or will
Leased fee interest
Lessor interest
leasehold interest
Lessee’s interest
ostensible agency
implied agency
Spot Survey
Best way to discover encroachment and verify the boundaries of the parcel of land .
Mechanic lien tip
can only be placed on the property where the work was done.
