Rights and Interest in Land

Question 1

The public control of land is know as _____________.

Answer 1

Police Power

Question 2

Police power gives the government the right to enact and enforce land use as well as ________, ______ and _____________

Answer 2

Planning, zoning and building codes

Question 3

Eminent Domain is the governments right to take ______________ through a process called ____________.

Answer 3

Private land, through an act called condemnation.

Question 4

Property taxes and property tax liens have ___________ over all other liens.

Answer 4

PRIORITY

Question 5

Special ___________ are charges against specific properties that benefit from a public improvement.

Answer 5

Special Assessments (taxation)

note they are charged on a front footage ( street front ) basis.

Question 6

Government rights in land can be remembered by the mnemonic

P
E
T
E

Answer 6

Police power
Eminent domain
Taxation
Escheat

Question 7

escheat refers to the government right when a property is ________ or when an owner dies intestate (no will) and without _________

Answer 7

abandoned, heirs

Question 8

when calculating taxes, it can be helpful to remember

T=A*R

Answer 8

Taxes = Assessed value * tax Rate

Assessed value=Taxes/tax Rate A=T/R

tax Rate= Taxes/Assesed value R=T/A

Question 9

a mortgagor is the _________ where a mortgagee is the ____________

Answer 9

Borrower , lender

Question 10

a Grantor ________ to a Grantee

Answer 10

Gives to a grantee, a grantee recieves

Question 11

A freehold estates grants ___________ for an indefinite period of time , while a leasehold estate grants _____________ for a fixed term.

Answer 11

Ownership, Possession

Question 12

Fee Simple Absolute come with the complete “bundle of rights”. It is the Maximum control of a property and lasts ______________.

Answer 12

forever

Question 13

____________________ or _______________ is an estate that is created by a deed condition that if violated could revert the estate back to the grantor.

Answer 13

Fee Simple Defeasible or Qualified Fee

Question 14

A life estate is measured by a persons life. Upon death of the life tenant , the estate returns to ________________ and goes to the party named in the deed.

Answer 14

Fee Simple Absolute

Question 15

A leasehold estate implies possession for a fixed term. It is also referred to as a _________________ and a ________________

Answer 15

Less then Freehold and a Chattel Real

Question 16

An Estate for years has a specific ________________, no advanced notice to required at the end of the agreement. it is important to note that death of a landlord or tenant does not terminate an estate for years agreement.

Answer 16

termination date

Question 17

An easement is the ___________________ of another for a specific purpose . It attaches to (is appurtenant to) and runs with the land, therefore it transfers with the deed.

Answer 17

right to use the lands .

Question 18

An easement is ___________. that means it is permanent and will transfer with the deed upon sale of the property .

Answer 18

NON REVOCABLE.

unless the easement is released prior to sale.

Question 19

_______________ are privately created controls on land use that protect property value and the interest of property owners. Must be Lawful and non-discriminatory

Answer 19

Deed Restrictions

Question 20

Any buyer who finds an encroachment before or after closing should consult ________________ . A survey will reveal encroachments.

Answer 20

An attorney

Question 21

A license is a ___________ , non exclusive permission that grants privilege to use property .

Answer 21

revocable

Question 22

List two ways the government can acquire privately held land

Answer 22

Eminent domain and escheat

Question 23

Public control of land use by the government is known as

Answer 23

Police Power

Question 24

A right of use or enjoyment that one person has in the lands of another for a specific purpose is an __________.

Answer 24

Easment

Question 25

A right of use or enjoyment that one person has in the lands of another for a specific purpose is an ____________.

Answer 25

encroachment

Question 26

A claim that one person has against the land of another to secure payment of a debt is a ______.

Answer 26

Lien

Question 27

A person who has not been paid for work performed on real property may record a __________________.

Answer 27

Mechanics Lien

Question 28

A party wall or a shared driveway is an example of an easement ____________.

Answer 28

Appurtenant

Question 29

The right of an owner to occupy a parcel of real estate forever is a ___________________.

Answer 29

Fee Simple Absolute

Question 30

As part of their right to govern land use, local municipalities enact and enforce _________________.

Answer 30

zoning ordinances

Question 31

Zoning laws are set at a ___________ level.

Answer 31

Local Level