Ch. 5 Exam Flashcards Preview

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Flashcards in Ch. 5 Exam Deck (20)
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1
Q

The servient estate in an easement appurtenant is the property:

A

Upon which the easement is placed.

With an easement appurtenant, the property upon which the easement is placed is the servient estate. The property benefiting from the easement is the dominant estate.

2
Q

An easement is:

A

An encumbrance on Real Property.

An easement is a nonpossessory use right in another’s Real Property and is therefore an encumbrance.

3
Q

The phrase “running with the land” is often used when describing:

A

An easement appurtenant.

In other words, an appurtenant easement will normally transfer with the property.

4
Q

Right-of-way easements, such as those acquired by public utilities, are:

A

Easements in gross.

An easement in gross can be personal or commercial and benefits that person or company rather than an adjoining parcel of land. An easement in gross gives the owner of the easement the right to use Real Property for a particular purpose, but does not attached to or benefit a parcel of land.

5
Q

A distinguishing factor between a license and an easement is that a license:

A

Can be revoked.

A license give someone a right to make use of the property of another. A license is usually oral and can be revoked “at will” by the land owner giving the license.

6
Q

The homestead exemption will exempt the residence from attachment and execution or a forced sale for unpaid debts. It is only extended to the amount of equity in the property that does not exceed:

A

The equity as established by the market value of the property, minus all senior liens and encumbrances, not to exceed $550,000.

7
Q

A lien is a type of:

A

Financial encumbrance.

A lien may be voluntary or involuntary, specific or general.

8
Q

A person who provides labor, material, or professional services for the improvement of real property may be entitled to file a _____________ against the property.

A

Mechanics lien.

9
Q

Hypothecated is best defined as:

A

The property interest was pledged as security to a creditor.

To hypothecate is to pledge property as security to a creditor without delivering possession of the property, regardless of the purpose of the debt.

10
Q

A lien for property taxes is an involuntary, ___________ lien against the property.

A

Specific.

Property taxes are involuntary, specific liens against Real Property.

11
Q

What document is issued by the court to order the sale of real estate to satisfy the debt?

A

Writ of execution.

12
Q

When the easement in gross is commercial, it can be:

A

Assigned.

An easement in gross that is commercial is assignable. For example, when a cable company is purchased by another cable company, any easements in gross will be assigned to the purchasing cable company.

13
Q

The right to sever or take something from land belonging to someone else’s known as:

A

Profit.

The difference between a profit and an easement is that an easement creates a right of use and a profit allows the removal of something from the land, such as timber.

14
Q

A noxious odor or unsightly condition on a neighboring property that interferes with a property owners reasonable use and enjoyment of his or her property is known as:

A

A nuisance.

A nuisance is not an encumbrance to Real Property, rather it is a violation of an owners possessory rights.

15
Q

Which one of the following is a provision in a deed that limits the use of private property?

A

Deed restriction.

Deed restrictions or limitations of use of private property imposed by some previous owner. Most subdivision developers will impose a list of restrictions contained within the CC&Rs, thereby binding all owners within the subdivision to comply with certain rules relating to the type of structures allowed, property maintenance requirements, prevented activities, etc.

16
Q

When a portion of the property is sold to another and is found to be landlocked, the property owner will most likely:

A

Get an easement by necessity over the adjoining property.

And easement by necessity, also called an easement by implication, occurs when a property is divided and the grantor neglects to reserve an easement for the benefit of the property conveyed.

17
Q

A deed of trust is:

A

A security instrument similar to a mortgage.

18
Q

Generally, lien priority is determined by:

A

The date the lien was recorded.

19
Q

In Nevada, specially priority is given to:

A

Property tax liens and special assessment liens.

20
Q

Private restrictions contained within the subdivisions CC&Rs can be terminated by:

A

A majority vote of the landowners within the subdivision.

Wow there are other ways a private restriction maybe terminated, such as the purpose of the restriction no longer being able to be achieved (as in a zoning change), a majority of the landowners can vote to remove a particular restriction if it’s removal would not violate any government imposed restrictions.