Chp 7 Interest in Real Estate Pr
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A concept of water ownership in which the landowner's right to use available water is based on a government-administered permit system.
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
An easement that is annexed to the ownership of
one parcel and allows the owner the use of the neighbor’s land.
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
The remnant of an estate that the grantor holds
after granting a life estate to another person.
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
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.
An easement acquired by continuous, open, and
hostile use of the property for the period of time prescribed by state law.
Easement by prescription
The degree, quantity, nature, and extent of
interest a person has in real property.
Estate in land
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