Real Estate Law

Card Set Information

Real Estate Law
2010-02-11 11:37:07
Real Estate

quiz 2/15/10
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  1. Fixture
    item of personal property that becomes real property because of its attatchement to the land or building
  2. possession
    occupation of land evidenced by visible acts such as enclosure, cultivation, the construction of improvement, or the occupancy of existing improvements
  3. inheritance
    ability to acquire ownership to real property becuz of one's kind ship to a deceased property owner
  4. devise
    conveyance of real property by means of a last will an testament
  5. will
    legal document by which a person disposes of his property. A will takes effect on the death of the property owner
  6. conveyance
    the transfer of title of some or all of the ownership rights to real property from one person to another. A conveyance is usually by instrument such as a deed, lease, mortgage, or other encumbrance
  7. deed
    written document that transfers ownership of real property from one person to another
  8. adverse possession
    method of acquiring ownership to real property by possession for a statuatory time period
  9. life estate
    estate of real property the duration of which is measured by the life or lives of one or more persons
  10. estate at will
    estate of real property the duration of which is for an indefinate period. An estate at will can be terminated at the will of the parties