Chp 7 Interest in Real Estate Pr

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Chp 7 Interest in Real Estate Pr
2013-08-31 15:54:12
Real Estate

Chp 7 Interest in Real Estate Pr
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  1. A concept of water ownership in which the landowner's right to use available water is based on a government-administered permit system.
    Prior appropriation
  2. If an estate is no longer used for the purpose
    conveyed, it reverts to the original grantor by the right of reentry. Pg 113
    Fee simple subject to a condition subsequent
  3. An easement that is annexed to the ownership of
    one parcel and allows the owner the use of the neighbor’s land.
    Appurtenant easement
  4. Private agreements that affect the land use.
    They may be enforced by an owner of real estate and included in the seller’s
    deed to the buyer.
    • Covenants, Conditions, and Restrictions
    • (CC&R)
  5. The remnant of an estate that the grantor holds
    after granting a life estate to another person.
    Reversionary interest
  6. An easement allowed by lay as necessary for the
    full enjoyment of a parcel of real estate (e.g., a right of ingress and egress
    over a grantor’s land).
    Easement by necessity
  7. An interest in real or personal property that is
    limited in duration to the lifetime of its owner or some other designated
    person or persons.
    Life estate
  8. An easement acquired by continuous, open, and
    hostile use of the property for the period of time prescribed by state law.
    Easement by prescription
  9. The degree, quantity, nature, and extent of
    interest a person has in real property.
    Estate in land