NYS Bar Exam Flashcards
What is the right to use another’s land that falls short of ownership called?
Easement
When should the agency disclosure form be submitted?
FIRST CONTACT
fee simple
UNLESS SPECIFIED A LESSER ESTATE, TRANSFER OF TITLE TO REAL PROPERTY IN NYS CREATES WHAT TYPE OF INTEREST
conveyance
what is another name for transfer of title to real property
UMBRELLA POLICY
WHAT IS THE NAME OF THE POLICY THAT PROVIDES ADDITIONAL LIABILITY COVERAGE BEYOND THE PRIMARY POLICY
LESSEE
WHO IS RESPONSIBLE FOR THE TERMS IN THE LEASE IF THE UNIT HAS BEEN SUBLEASED
EMINENT DOMAIN
REUSE OF PRIVATE PROPERTY, BY THE GOVERNMENT, FOR PUBLIC USE
WHEN A PROPERTY OWNDER DOES NOT PAY FOR WORK THAT WAS PERFORMED THE WORKER CAN FILE THIS TYPE OF LIEN TO COLLECT MONEY OWED TO THEM
MECHANICALS LIEN
TITLE HELD IN THE NAME OF ONE PERSON
OWNERSHIP IN SEVERALTY
NAME OF THE TEMPORARY LOAN THAT IS USED TO HELP A BORROWER MAKE A DOWN PAYMENT ON A NEW HOME BY RELEASING THE EQUITY FROM AN EXISITING UNSOLD HOME
SWING LOAN OR BRIDGE LOAN
A BRIEF HISTORY OF THE TITLES FOR A PIECE OF LAND
ABSTRACT TITLE
METHOD OF FINANCING IN WHICH A NEW MORTGAGE IS WRAPPED AROUND EXISITING MORTGAGE
WRAP AROUND MORTGAGE
OFFERING PLAN
A DOCUMENT PROVIDED BY THE SPONSOR THAT OFFERS DETAILED INFORMATION REGARDING THE PROPERTY
MECHANICS LIEN
WHEN A PROPERTY OWNER DOESNT PAY FOR WORK THAT WAS PERFORMED THE WORKER CAN FILE THIS TYPE OF LIEN TO COLLECT MONEY OWED TO THEM
OWNERSHIP IN SEVERALTY
title to real property held in the name of only one person
