7. Interests in Real Estate

Question 1

ACCRETION

Answer 1

The increase or addition of land by the deposit of sand or soil washed up naturally from a river, lake, or sea.

Question 2

APPURTENANT EASEMENT

Answer 2

An easement that is annexed to the ownership of one parcel and allows the owner the use of the neighbor’s land.

Question 3

AVULSION

Answer 3

The sudden tearing away of land, as by earthquake, flood, volcanic action, or the sudden change in the course of a stream.

Question 4

CONDEMNATION

Answer 4

A judicial or administrative proceeding to exercise the power of eminent domain, through which a government agency takes private property for public use and compensates the owner.

Question 5

DEED RESTRICTION

Answer 5

Clause in a deed limiting the future uses of the property. Deed restrictions may impose a vast variety of limitations and conditions—for example, they may limit the density of buildings, dictate the types of structures that can be erected, or prevent buildings from being used for specific purposes or even from being used at all.

Question 6

EASEMENT

Answer 6

A right to use the land of another for a specific purpose, such as for a right-of-way or utilities; an incorporeal interest in land.

Question 7

EASEMENT BY CONDEMNATION

Answer 7

An easement created by the government or government agency that has exercised its right under eminent domain.

Question 8

EASEMENT BY NECESSITY

Answer 8

An easement allowed by law as necessary for the full enjoyment of a parcel of real estate; for example, a right of ingress and egress over a grantor’s land.

Question 9

EASEMENT BY PRESCRIPTION

Answer 9

An easement acquired by continuous, open, and hostile use of the property for the period of time prescribed by state law.

Question 10

EASEMENT IN GROSS

Answer 10

An easement that is not created for the benefit of any land owned by the owner of the easement but that attaches personally to the easement owner. For example, a right granted by Eleanor Franks to Joe Fish to use a portion of her property for the rest of his life would be an easement in gross.

Question 11

EMINENT DOMAIN

Answer 11

The right of a government or municipal quasi-public body to acquire property for public use through a court action called condemnation, in which the court decides that the use is a public use and determines the compensation to be paid to the owner.

Question 12

ENCROACHMENT

Answer 12

A building or some portion of it—a wall or fence for instance—that extends beyond the land of the owner and illegally intrudes on some land of an adjoining owner or a street or alley.

Question 13

ENCUMBRANCE

Answer 13

Anything—such as a mortgage, tax, or judgment lien, an easement, a restriction on the use of the land or an outstanding dower right—that may diminish the value or use and enjoyment of a property.

Question 14

EROSION

Answer 14

The gradual wearing away of land by water, wind, and general weather conditions; the diminishing of property by the elements.

Question 15

ESCHEAT

Answer 15

The reversion of property to the state or county, as provided by state law, in cases where a decedent dies intestate without heirs capable of inheriting, or when the property is abandoned.

Question 16

ESTATE IN LAND

Answer 16

The degree, quantity, nature, and extent of interest a person has in real property.

Question 17

FEE SIMPLE

Answer 17

The highest interest in real estate recognized by the law; the holder is entitled to all rights to the property.

Question 18

FEE SIMPLE ABSOLUTE

Answer 18

The maximum possible estate or right of ownership of real property, continuing forever.

Question 19

FEE SIMPLE DEFEASIBLE

Answer 19

A qualified estate that is subject to the occurrence or nonoccurrence of some specified event. See also defeasible fee estate.

Question 20

FEE SIMPLE DETERMINABLE

Answer 20

A fee simple estate qualified by a special limitation. Language used to describe limitation includes the words, “so long as” or “while” or “during.”

Question 21

FREEHOLD ESTATE

Answer 21

An estate in land in which owner ship is for an indeterminate length of time, in contrast to a leasehold estate.

Question 22

FUTURE INTEREST

Answer 22

A person’s present right to an interest in real property that will not result in possession or enjoyment until some time in the future, such as a reversion or right of reentry.

Question 23

HOMESTEAD

Answer 23

Land that is owned and occupied as the family home. In many states a portion of the area or value of this land is protected or exempt from judgments for debts.

Question 24

LEASEHOLD ESTATE

Answer 24

A tenant’s right to occupy real estate during the term of a lease, generally considered to be a personal property interest.

Question 25

LICENSE

Answer 25

The revocable permission for a temporary use of land—a personal right that cannot be sold.

Question 26

LIEN

Answer 26

A right given by law to certain creditors to have their debts paid out of the property of a defaulting debtor, usually by means of a court sale.

Question 27

LIFE ESTATE

Answer 27

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.

Question 28

LITTORAL RIGHTS

Answer 28

(1) A landowner’s claim to use water in large navigable lakes and oceans adjacent to his or her property. (2) The ownership rights to land bordering these bodies of water up to the high-water mark.

Question 29

PARTY WALL

Answer 29

A wall that is located on or at a boundary line between two adjoining parcels of land and is used or is intended to be used by the owners of both properties.

Question 30

POLICE POWER

Answer 30

The government’s right to impose laws, statutes, and ordinances, including zoning ordinances and building codes, to protect the public health, safety, and welfare.

Question 31

PRIOR APPROPRIATION

Answer 31

A concept of water ownership in which the landowner’s right to use available water is based on a government-administered permit system.

Question 32

REMAINDER INTEREST

Answer 32

The remnant of an estate that has been conveyed to take effect and be enjoyed after the termination of a prior estate, such as when an owner conveys a life estate to one party and the remainder to another.

Question 33

REVERSIONARY INTEREST

Answer 33

The return of the rights of possession and quiet enjoyment to the lessor at the expiration of a lease.

Question 34

RIPARIAN RIGHTS

Answer 34

An owner’s rights in land that borders on or includes a stream, river, or lake. These rights include access to and use of the water.

Question 35

TAXATION

Answer 35

The process by which a government or municipal quasi-public body raises monies to fund its operation.