Unit 1 Chapter 7 Flashcards
ENCUMBRANCES
non-possessory interests limiting the legal owner’s rights.
EASEMENTS
a right to use portions of another’s property
Easement appurtenant
dominant tenement’s right to use or restrict adjacent servient tenement; attaches to the real estate.
Easement by necessity:
granted by necessity, e.g. to landlocked owners.
Party Wall:
negative easement in a shared structure.
Easement in gross
a right to use property that does not attach to the real estate. Utilities or railroads are examples. Those employed to buy or sell easements in gross must be licensed or
registered with TREC.
Personal:
not revocable or transferable; ends upon death of easement holder.
Easement creation
voluntary grant, court decree by necessity or prescription, eminent domain.
By Prescription:
obtainable through continuous, open, adverse use over a period.
Easement termination
release; merger; abandonment; condemnation; change of purpose; destruction; non-use.
ENCROACHMENTS
intrusions of real estate into adjoining property; can become easements.
LICENSES
personal rights to use a property; do not attach; non-transferable; revocable.
DEED RESTRICTIONS
conditions and covenants imposed on a property by deed or subdivision plat.
LIENS
claims attaching to real and personal property as security for debt.
• Legal features - restrict free and clear ownership; non-payment may trigger foreclosure; do not convey
ownership, except for mortgage lien; attach to the property; multiple liens may attach; terminate on
payment and recording
• Lien types - voluntary and involuntary; general and specific; superior and junior
• Lien priority - rank ordering of claims established by lien classification and date of recording; determines
who gets paid first if lienee defaults
• Superior liens - rank over junior liens; not ranked by recording date; real estate tax and assessment
liens and inheritance taxes
• Junior liens - rank by recording date: judgment; mortgage, vendor’s, utility, mechanic’s, other tax liens;
mechanic’s lien priority “dates back” to when work or sale transpired