A2A Real Estate

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The flashcards below were created by user Cshowalter on FreezingBlue Flashcards.


  1. Bundle of sticks
    An interest in the land refers to the ownership or nnumberof right one hase in property. The bundle of sticks refers to the right to control, possess, enjoy and dispose of the real estate
  2. Eminent domain
    Condemnation
    • Eminent domain- is the right of a govermentto take land for the good of the public. Just compensation must be paid to a property owner when eminent domain action is used.
    • Condemnation- is the process used to take land.
  3. Taxation
    Escheat
    • Taxation- is a charge on real estate
    • Escheat- is the right of the state to recieve abandoned property. Real estate becomes abandoned when the property owner dies without a will and has no heirs.
  4. Fee simple absolute
    has the largerst amount of ownership recognized by law. it is a estate without conditions (indefeasinble fee). A fee simple interest allows a property owner to place restrictions on the land
  5. A fee simple determinable
    is a conditional estate, if the condition is broken, the title automatically reverts back to the grantor or heirs of the grantor.
  6. When you have fee estates with conditions, they are called ______
    defeasible fees. conditions placed on the estate will run with the land.
  7. Life estates
    A life estate is non-inheritable, freehold estate. A life estate terminates upon death of a life tenant. A life estate pur autre vie is created when a grantor conveus title to the life tenant and bases the ownership on the life of another.
  8. Dower and Curtesy rights
    Dower rights are a wife's right in all property owned by her husband. Curtesy is the husband's right to his wife's property. Dower rights are inchoate(expected) while her husband is alive, they become consummate upon the death of the husband.
  9. Dower and Curtesy rights cannot be defeated by selling or willing the property. To convey property free from dower and curtesy rights, it is important that both spouses sign the property documents
  10. Homestead exemption
    is a statutory or constitutional right to protect the homestead property from certain types of judements. Homestead laws may also give a homeowner a partial tax exemption
  11. Encumbrance
    is anything that burdens a title. Examples would included liens, easements, and restrictions. An encumbrance may or may not cause a loss in property value. utility easements are examples of encumbrance that usually enhance a property values.
  12. Easement 
    Appurtenant easement
    • is the right to use land of anohte, it gives a right of ingress.
    • An appurtenant easement is said to run with the land, it attaches to the land. For an appurtenant easement to exist, there must be two tracts of land owned by different parties.
  13. gross easement
    involves only one tract of land. A gross easement is a personal interest in the land, it attaches to a person . Examples of gross easements inculded commercail and utility easements. Gross easments usually terminate upon the sale of the property, the death of the easement owner, or upon a specified time period.
  14. A license
    is a personal privilage to use the land of another, it is not a true interest in the land of another, it is revocable, it does nor ordinarily transfer with a title. The law would normally treat an oral easement as a license. Ordinarily an easement must be in writing, alicense is usually oral.
  15. Enroachment
    is an extension of an improvement wither on or across a boundary line. Encroachments are types of encumbrances and are found by survey.
  16. A profit a prendre
    is an interest in the land. It allows someone to take part of the soil or produce of the land such as coal, fruit, or timber. Since a profit is an interest in the land, it is created by written grant or prescription.
  17. Riparian rights
    allows a property owner to use water from a stream, creek, river, or non-navigable lake that is located next to the property. The boundary line for property that adjoins a non-navigable waterway is the middle of the waterway. The boundary line for a property that adjoins a navigable body of water is the water's edge.
  18. Littoral right
    are recognized when a property adjoins an ocean, sea, or navigable lake. The boundary line for property that adjoins an ocean, sea, or navigable lake is usually the high water mark
  19. Accreation
    a propert owner may increase the size of the property. Accreation occurs when soil is deposited through the natural action of water. When water recedes, new land is acquired by reliction

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Author:
Cshowalter
ID:
333005
Filename:
A2A Real Estate
Updated:
2017-07-19 18:19:23
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A2A Real Estate
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A2A Real Estate
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A2A Real Estate
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