Real Estate Acts

Question 1

The marketable title act

Answer 1

At least 10 states have marketable title act. In order to in make abstracts easier to repair and less prone to air claims past 40 years are cut off plus defects older than 40 years are disallowed. 

Question 2

Exclusions for the marketable title record act

Answer 2

I am borrowing a lessor, taking possession, extinguish, easement, created or held for pipelines, highways, railroads or public utility extinguish any easement that can be verified by physical evidence of its use water rights mineral rights and a political subdivision, any rate or titles of interest by the United States

Question 3

Homestead act

Answer 3

Created to protect a portion of owners equity in the event of a forest, foreclosure of a residence through sale of a home

Question 4

Homestead act protections

Answer 4

Medical bills
Business debts
Unsecured damage liens

Question 5

Homestead act not protected from

Answer 5

Taxes
Judicial Liens
Security interests(mortgages)
Child support liens
Liens obtained by mutual conscent

Question 6

Filing the homestead act

Answer 6

A statement that the claimant is entitled to an exemption
A statement if married, the claimant spouse has not filed decoration
Description of the property
An estimate of the cash value of the property
A statement specifying the amount of the Homestead clean
The name, age and address of any spouse claimed to determine the value of the homestead

Question 7

Uniform land practice act

Answer 7

Requires registry with division of real estate

Question 8

Timeshare

Answer 8

Timeshare interest means a right to occupy fixed or variable accommodations during three or more separate fixed or variable time. Over a period of at least three years.

Question 9

The camp resort interest

Answer 9

The right to use and occupy the camping site

Question 10

Undivided, fractional, long-term estate

Answer 10

ownership interest in real property by two or more persons that is tenancy in common or other legal form of undivided. A state in real property does not include joint tenancy.


Question 11

Riparian water, law

Answer 11

Based on the idea that the owner of real property has reasonable rate used to naturally flowing water that is on under or adjacent to the property

Question 12

Littoral water law

Answer 12

If water is not flowing, the owner is governed by Litoral rights and owner next to such a body of water is allowed to enjoy the water so long as he does nothing to alter the waters position by artificial means