Untit 3: Emcumburances & Transfers of Ownership Flashcards
What is Easement in Gross
An easement that is not appurtenant to any one parcel
What is a license ?
Permission to use a property which may be revoked at any time
What is encroachment?
The unauthorized placement of permanent improvements that’s intrudes on adjacent property owned by another.
What is homestead
Status provided to a homeowners principle residence that protects the home against judgment up to specified amounts
What is bequest?
A gift of personal property by will
What is Interstate ?
Dying with ought leaving a will.
What is accession ?
Process by which there is an addition or reduction to property by the efforts natural forces
What is Accretion?
Gradual buildup of alluvium by natural causes on property bordering a river, Lake, or Ocean
What is Reliction
Occurs when land that has been covered by water is exposed by receding of the water
What is Alienate?
The act of transferring ownership, title, or interest.
What is Grantee?
The person receiving the property, or to whom it is being conveyed.
What is a grantor?
The person conveying or transferring the property
What is an instrument?
A document in real estate
What is a Quite title action?
It is a court proceeding to clear a cloud on the title of real property
What is a lis pendens
Notice that indicates pending litigation affecting title on a property.
