Principles 5 Flashcards
Abstract of judgement
Document stipulating the outcome of a legal action, which can be filed in any county where the judgement debtor has property
Attachment
The process by which real or personal property of a party to a lawsuit is seized and retained in the custody of the court
Bankruptcy
- A federal court proceeding in which the court takes possession of the assets of an insolvent debtor and sells the nonexempt assets to pay off creditors on a pro rata basis
- title to the debtor’s assets is held by a trustee in bankruptcy
CC&Rs
- Covenants, conditions, and restrictions
- limitations on land use imposed by deed, usually when land is subdivided, as a means of regulating building construction, density, and use for the benefit of other property owners
- May be referred to simply as restrictions
Cloud on the title
Any claim, condition, or encumbrance that impairs title to real property
Condition
- A qualification of an estate granted that can be imposed only in a conveyance
- it can be a condition precedent or a condition subsequent
Covenant
An agreement or a promise to do or not to do a particular act, usually imposed by deed
Deed restriction
Provision placed in a deed by the grantor that limits the property’s use or requires the grantee to fulfill requirements of subdivision covenants, conditions, and restrictions (CC&Rs)
Defendant
A person against whom legal action is initiated for the purpose of obtaining criminal sanctions (in a case involving violation of a penal statute)or damages or other appropriate judicial relief (in civil case)
Dominant tenement
Same as easement
Easement
The right to a specific use of or the right to travel over the land of another
Easement appurtenant
An easement right that is transferred along with title to the land that benefits from the easement.
Easement by condemnation
Taking of an easement right by a public entity
Easement by implication of law
An easement that will be created by law to provide access to a parcel of land that is otherwise landlocked
Easement by necessity
An easement right over the land of the grantor of adjacent property that would otherwise be landlocked