Units 3 Encumbrances and Transfer of Ownership Flashcards
Easement in Gross
An easement that is not appurtenant to any one parcel.
License
Permission to use a property which may be revoked at any time.
Encroachment
The unauthorized placement of permanent improvements that intrude on adjacent property owned by another.
Homestead
Status provided to a homeowner’s principal residence that protects the home against judgments up to specified amounts.
Bequest
A gift of personal property by will.
Intestate
Dying without leaving a will.
Accession
Process by which there is an addition or reduction to property by the efforts natural forces.
Accrestion
Gradual buildup of alluvium by natural causes on property bordering a river, lake, or ocean.
Reliction
Occurs when land that has been covered by water is exposed by receding of the water.
Dieviate
The act of transferring ownership, title, or interest.
Grantee
The person receiving the property, or to whom it is being conveyed.
Grantor
The person conveying or transferring the property.
Instrument
A document in real estate.
Quiet title auction
It is a court proceeding to clear a cloud on the title of real property.
Lis pendens
Notice that indicates pending litigation affecting title on a property.
Encumbrance
Anything that affects or limits the fee simple title to or value of property.
The form of encumbrance that makes specific property the security for the payment of a debt or discharge of an obligation is called a :
lien
A recorded abstract of judgment is classified as an ________ lien.
Involuntary.
The personal, revocable, unassignable permission to use the property of another without a possessory interest in it is called a ______.
License
Recording a ____ _________ creates a cloud on title and warns parties that they could be involved in a lawsuit if they purchase the property, which could affect marketability.
lis pendens
Zoning ordinances are ______, not private restrictions.
Public
The terms alienation, _____, and ______ are used interchangeably when transferring ownership of property from one person to another.
convey, and transfer
_______ and ________ are required elements of a valid deed. The deed does not have to be acknowledged or __________
Delivery and acceptance; recorded.
ingress and egress mean ______ and ______
to enter and to exit.
