Property Ownership Flashcards
The unity that exists in both tenancy and common and joint tenancy is
Possession
Large blocks of land located in a rural area of the mid west would most likely be described as
Govt rectangular survey
What time of legal description will most accurately describe a irregular shaped parcel of land?
Metes and bounds
If two owners want to sell a property and the third does not, the two owners that want to sell and do what
May file suit for partition
3 physical characteristics of land
Heterogeneity
Indestructibility
Immobility
The most predictable element of severance is
Agreement
What is best suited to identify large tracts of land (2 possible answers)
Geodetic or govt survey
What is testate
Dying with a will
Escheat
Govt power to receive property when the owner dies without a will and lawful heirs
Boundary markers of land, either natural or man made are known as
Monuments
Property taxes on cooperative units are assessed in the form of
A single tax bill among individual units
The right of a landlord to reenter or regain possession of the premises upon expiration of a lease is known as
Reversion
Estate for years
Definite beginning and end
Which method of legally describing land relies on range lines
Rectangular
A real property owner may:
Dispose property not encumber it
