Ownership

Question 1

6D Certificate

Answer 1

refers to section of M.G.L 183A which
verifies owner’s payment status of fees and assessments.

Question 2

Accession

Answer 2

additions to a property due to alluvion

Question 3

Accretion

Answer 3

addition of real estate gradually by deposit of soil through natural causes such as water flow

Question 4

Aeolin Soil

Answer 4

Sand dunes that from at the shoreline due to action of wind.

Question 5

Air Rights

Answer 5

Ownership or lease of air space above real estate

Question 6

Allodial System

Answer 6

a system of land ownership in which land is held free and clear of any rent or service due to the government; commonly contrasted to the feudal system. Land is held under the allodial system in the United States

Question 7

Alluvium/ Alluvion

Answer 7

Soil that is deposed by accretion

Question 8

Annexation

Answer 8

Personal property that becomes permanently attached.

Question 9

Appurtenance

Answer 9

Is a right that accompanies a property. Am example would be a right of way through a neighbor’s property.

Question 10

Avulsion

Answer 10

The sudden loss of land that occurs to a sudden act of nature such as wind or water

Question 11

Bill of Sale

Answer 11

an agreement which transfers personal property from one party to another.

Question 12

Bundle of Rights

Answer 12

The rights that the owner receives when they purchase real estate

Question 13

By-Laws

Answer 13

Rules and regulations put in place by organizations such as a condominium associations to establish guideline, policies and practices to be adhered to by the association members

Question 14

Chattel

Answer 14

Personal property

Question 15

Common Elements

Answer 15

The common or shared area in condominium buildings

Question 16

Concurrent/ Co-ownership

Answer 16

Ownership by two or more people. Can take form in variety of ways.

Question 17

Condo Super Lien Bill

Answer 17

Gives condo associations the authority to impose a “priority” lien (taking precedence over the first mortgage in the condo unit) on owners who fail to make required common-area payments. Signed into law in 1992 the most sweeping revision of the Mass. Condo Law since its enactment

Question 18

Condominium

Answer 18

Multi-unit developments consisting of individually owned units with shared ownership or common areas. The buyer receives a unit deed when they purchase

Question 19

Condominium Budget

Answer 19

A budget created by a condominium associations to conduct the operations of a condominium

Question 20

Condominium Documents

Answer 20

A Master Deed, known as the enabling declaration and by-laws, rules and regulation that governs the condominium association. These documents are recorded at the local Registry of Deeds.

Question 21

Condominium Fee

Answer 21

a fee paid by condominium unit owners toward the costs associated with the operations of a condominium development.