Unit One Test Flashcards
land and all rights in land
real property
earth, including all things embedded in or attached thereto, whether naturally or by the act of humans
land
permanent right that one has in the land of another, as the right to cross anothers land or an easement of way
easement
land that is benefited by an easement
dominant tenement
land that is subject to an easement
servient tenement
easement not specifically created by deed that arises from the circumstances of the parties and the land location and access
easement by implication
grantees right to use land retained by the grantor for going to and from the conveyed land
way of necessity
acquisition of a right to use the land of another, as an easement, by making hostile, visible, and notorious use of the land, continuing for the period specified by the local law
prescription
right to take a part of the soil or produce of anothers land, such as timber or water
profit
personal privilege to do some act or series of acts upon the land of another, as the placing of a sign thereon, not amounting to an easement or a right of possession
license
claim or right, against through judgement or levy
lien
lien on property for nonpayment of taxes
tax lien
lien obtained through the courts
judgement lien
claim by laborers or materials suppliers for property improvements
mechanics lien
personal property attached to or adapted to real estate
fixture
highest level of land ownership, full interest or unlimited duration
fee simple estate
an estate for the duration of a life
life estate
interest of a tenant in rented land
leasehold estate
largest estate possible in which the owner has absolute and entire interest in the land
estate in fee
fee simple interest that can be lost if restrictions on its use are violated
fee simple defeasibles
land interest that follows a life estate
remainder interest
nature of the interest held by the grantor after conveying land outright but subject to a condition or provision that may cause the grantees interest to become forfeited and the interest to revert to the grantor or heirs
possibility of reverter
person who is on the land of another without permission or authorization
trespasser
someone anothers premises with the permission of the occupier, whose duty is to warn the licensee of nonobvious dangers
licensee
person who enters anothers land by invitation
intivee
a rule imposing liability upon a landowner for injuries sustained by small children playing on the land when the landowner permits a condition to exist or maintains equipment that a reasonable person should realize would attract small children who could not realize the danger. The rule does not apply if an unreasonable burden would be imposed upon the landowner in taking steps to protect the children
attractive nuisance doctrine
combination of coownership and individual ownership
condominium
group of two or more persons or enterprises that acts through a common agent with respect to a common objective, such as buying or selling
cooperative
an instrument by which the grantor conveys or transfers the title to a grantee
deed
owner who transfers or conveys an interest in land to a new owner
grantor
new owner of a land conveyance
grantee
buyer or vendee
transferee
deed by which the grantor purports to give up only whatever right or title the grantor may have in the property without specifying or warranting transfer of any particular interest
quit claim deed
deed by which the grantor conveys a specific estate or interest to the grantee and makes one or more of the covenants of title
warranty deed
unqualified assent to the act or proposal of another, such as the acceptance of a draft, of an offer to make a contract, of goods delivered by the seller, or of a gift or deed
acceptance
public official in charge of deeds
recorder
statute under which the first party to record the deed holds the title
race statute
statute under which the last good-faith or bona fide purchaser holds the title
notice statute
statute under which the first bona fide purchaser to record the deed holds the title
notice race statute
history of the transfers of title to a given piece of land, briefly stating the parties to and the effect of all deeds, wills, and judicial proceedings relating to the land
abstract of title
implied warranty that title to the goods is good and transfer is proper
warranty of title
grantors covenants of a deed that guarantee such matters as the right to make the conveyance, to ownership of the property, to freedom of the property from encumbrances, or that the grantee will not be disturbed in the quiet enjoyment of the land
covenants of title
guarantee that the grantor of an interest in land owns the estate conveyed to a new owner
covenant of seisin
guarantee that the grantor of an interest in land, if not the owner, has the right or authority to make the conveyance to a new owner
covenant of right convey
guarantee that conveyed land is not subject to any right or interest of a third person
covenant against encumbrances
covenant by the grantor of an interest in land to not disturb the grantees possession of the land
covenant of quiet enjoyment
any covenant that does not provide the complete protection of a full coventant
limited covenant
promise that the grantor of an interest in land will execute any additional documents required to perfect the title of the grantee
covenant of further assurances
power of govt and certain kinds of corporations to take private property against the objection of the owner, provided the taking is for a public purpose and just compensation is made for it
eminent domain
hostile possession of real estate, which when actual, visible, notorious, exclusive, and continued for the required time, will vest the title to the land in the person in such adverse possession
adverse possession
interest in land given by the owner to a creditor as security for the payment of the creditor for a debt, the mature of the interest depending upon the law of the state where the land is located
mortgage
mortgage with variable financing charges over the life of the loan
adjustable rate mortgage
mortgage in which the owners get their equity out of their home over a period of time and return the house to the lender upon their deaths
reverse mortgage
mortgage transfers in which the tranferee and mortgagor are liable and the property is subject to foreclosure by the mortgagee if payments are not made
assumptions
procedures for enforcing a mortgage resulting in the public sale of the mortgaged property and, less commonly, in merely barring the right of the mortgagor to redeem the property from the mortgager
foreclosure
delay of foreclosure obtained by the mortgagor to prevent undue hardship
stay or delay of foreclosure
buying back of ones property, which has been sold because of a default, upon paying the amount that had been originally due together with interest and costs
redemption
federal legislation that establishes standards for air pollution levels and prevents further deterioration of air quality
clean air act
dirty areas that do not meet federal standards under the clean air act
nonattainment areas
controls whether new factories can be build in the nonattainment area
emissions offset policy
method for determining total emissions in one area, all sources are considered in an area
bubble concept
the rule promulgated to address downwind pollution from coal and gas-fired power plants
transport rule
federal legislation that regulates water pollution through a control system
clean water act
EPA standards for maximum ranges of discharge into water
effluent guildelines
EPA system for regulating point source emissions into water
national pollutant discharge elimination system
direct discharges into bodies of water
point sources
a water treatment that is generally under among industries, not always the best treatment available
best conventional treatment
a water treatment that is the most current and best available through research, even though it may not be the treatment used most frequently
best available treatment
a federal law that establishes national standards for contaminants in drinking water
safe drinking water act
early federal solid waste disposal legislation that provided funding for states and local govts with recycling programs
resource recovery act
first federal law to control the manufacture, use, and disposal of toxic substances
toxic substances control act
federal law that regulates the disposal of potentially harmful substances and encourages resource conservation and recovery
resource conservation and recovery act
federal law that assigns liability for cleanup of hazardous sites
comprehensive environmental response, compensation and liability act
areas designated by the EPA for cleanup
superfund sites
federal law that expands scope and operation of CERCLA
superfund amendment and reauthorization act
those beyond actual polluters who could be responsible for cleanup costs
potentially responsible parties
land that is a designated superfund cleanup site but which lies fallow because no one is willing to risk liability by buying the property, even when the hazardous waste has been removed, or property no one is willing to spend the money to remove the hazardous waste
brownfields
federal law that mandates study of a projects impacts on the environment before it can be undertaken by any federal agency
national environment policy act
formal report prepared under NEPA to document findings on the impact of a federal project on the environment
envirommental impact statement
federal law that controls noise emissions from low lying aircraft
noise control act
federal agency that establishes national policies on environmental quality and then recommends legislation to implement these policies
council on environmental quality
order of a court of equity to refrain from (negative injunction) doing or to do (affirmative or mandatory injunction) a specified act
injuction
conduct that harms or prejudices another in the use of land or that harms or prejudices the public
nuisance
nuisance that affects only one or a few individuals
private nuisance
nuisance that affects the community or public at large
public nuisance
process of checking the environmental history and nature of land prior to purchase
due diligence
covenants in a deed by which the grantee agrees to refrain from doing specified acts
restrictive covenants
restrictions imposed by govt on the use of designated land to ensure an orderly physical development of the regulated area
zoning
use of land that conflicts with a zoning ordinance at the time the ordinance goes into effect
nonconforming use
permission of a landowner to use the land in a specified manner that is inconsistent with the zoning ordinance
variance
allowing individual variation in zoning
spot zoning
agreement between the owner of property and a tenant by which the former agrees to give permission of the property to the latter in consideration of the payment of rent
lease
one who conveys real or personal property by a lease, a landlord
lessor
one who leases real property to another
landlord
one who has a possessory interest in real or personal property under a lease, a tenant
lessee
one who holds or possesses real property by any kind of right or title, one who pays rent for the temporary use and occupation of anothers real property under a lease
tenant
tenancy for a fixed period of time, even though the time is less than a year
tenancy for years
tenancy that continues indefinitely for a specified rental period until terminated, often called a month to month tenancy
periodic tenancy
holding of land for an indefinite period that may be terminated at any time by the landlord or by the landlord and tenant acting together
tenancy at will
lease arrangement in which the tenant occupies the property at the discretion of the landlord
tenancy at sufferance
exclusive dominion and control of property
possession
covenant by the grantor of an interest on land to not disturb the grantee’s possession of the land
covenant of quiet enjoyment
act or omission of the landlord that substantially deprived the tenant of the use and enjoyment of the premises
constructive eviction
person with lease rights for a period of less than the term of the original lease
sublessee
provision for the automatic increase of the rent at periodic intervals
escalation clause
implied warranty that the leased property is fit for dwelling by tenants
warranty of habitability
action by the landlord to have the tenant removed for nonpayment of rent
forcible entry and detainer
transfer of a right, generally used in connection with personal property rights, as rights under a contract, commercial paper, an insurance policy, a mortgage, or a lease
assignment
a transfer of the premises by the lessee to a third party, the subleseee or subtenant, for a period of less than the term of the original lease
sublease
uniform statue on wills and administration of estates
uniform probate code
person whose estate is being administered
decedant
condition of leaving a will upon death
testate
condition of dying without a will as to any property
interstate
distribution of an estate in accordance with the will of the decendant
testate distribution
instrument executed with the formality required by law by which a person makes a disposition of his or her property to take effect upon death
will
man, woman who makes a will
testator, testatrix
gift of money made by will
legacy
gift of personal property by will
bequest
beneficiary who receives a gift of personal property by will
legatee
gift of real estate made by will
devise
sufficient mental capacity to understand that a writing being executed is a will and what that entails
testamentary capacity
person to whom the proceeds of a life insurance policy are payable, a person for whose benefit property is held in trust, or a person given property by a will, the ultimate recipient of the benefit of a finds tranfer
beneficiary
designed to take effect at death, as by disposing of property or appointing a personal representative
testamentary intent
clause that indicates a witness has observed either the execution of the will or the testators acknowledgment of the writing as the testators will
attestation clause
wills that eliminate some formalities of proof by being executed according to statutory requirements
self-proved wills
admission or confirmation, generally of an instrument and usually made before a person authorized to administer oaths, such as a notary public
acknowledgment
statement of facts under oath, executed before a notary public or anyone authorized to administer oaths
affidavit
writing between the lines or adding to the provisions of a document, the effect thereof depending open the nature of the document
interlineation
testators act of taking back his or her will and its provisions
revoke
excluded from sharing in the estate of the decendant
disinherited
unwitnessed will written by hand
holographic will
document by which individuals may indicate that if they become unable to express their wishes and are in an irreversible, incurable condition, they do not want life-sustaining medical treatments
living will
man, woman named in the will to administer the estate of the decendant
executor, executrix
person appointed to wind up and settle the estate of a person who has died without a will
administrator, administratrix
administrators and executors who represent decedants under the UPC
personal representative
procedure for formally establishing or proving that a given writing is the last will and testament of the person who purportedly signed it
probate
written authorization given to an executor of an estate as evidence of appointment and authority
letters testamentary
written authorization given to an administrator of an estate as evidence of appointment and authorty
letters of administration
right to payment
claims
certain sums of money bequeathed to named persons by the testator, to be paid out of the decedents assets generally without specifically any particular fund or source from which the payment is to be made
general legacies
identified property bequeathed by a testator, also called specific devises
specific legacies
put a stop to a nuisance, reduce or cancel a legacy because the estate of the decedent is insufficient to make payment in full
abate
canceled, as in a specifically bequeathed property being sold or given away by the testator prior to death, thus canceling the bequest
adeemed
statutes providing that the children or heirs of a deceased beneficiary may take the legacy in the place of the deceased beneficiary
antilapse statute
distribution, made as directed by statute, of a decedents property not effectively disposed of by will
interstate succession
relationship that exists when one person is a direct descendant of the other
lineals
right of the state to take the property of a decedent that has not been distributed
right of escheat
method of distributing estate assets of an equal per person basis
per capita
distribution of an estate made in as many equal parts as there are family lines represented in the nearest generation, also known as stirpital distribution
distribution per stirpes
method for distribution of an estate that divides property equally down family lines
per stirpes
law providing that when survivorship cannot be established, the property if each person shall be disposed of as though he or she had survived the other
uniform simultaneous death act
transfer of property by one person to another with the understanding or declaration that such property be held for the benefit of another, the holding of property by the owner in trust for another, upon a declaration of trust, without a transfer to another person
trust
one who settles property in trust or creates a trust
settlor
person making a gift
donor
donor or settlor who is the owner of property
trustor
party who has legal title to estate and manages it
trustee
beneficiary of the trust
cestui que trust
fund or property that is tranferred to the trustee also called trust fund, trust estate, and trust res
trust corpus
property held in trust
principal
money earned by the principal, or property in trust, and distributed by the trustee
income
trust created to take effect within the lifetime of the settlor, also called inter vivos trust
living trust
trust that takes effect upon the settlors death
testementary trust
instrument creating a trust, also called deed of trust
trust agreement
title held by the trustee in a trust situation
legal title
beneficial interest in a trust
equitable title
a trust that, prevents creditors of the beneficiary from reaching the principal or income held by the trustee and precluded beneficiary assignments
spendthrift trust
