Chapter 10 - Easements and Liens Flashcards Preview

Real Estate Broker > Chapter 10 - Easements and Liens > Flashcards

Flashcards in Chapter 10 - Easements and Liens Deck (18):
1

Nonpossessory interest

An interest in property that does not include the right to possess and occupy the property; an encumbrance, such as a lien or easement.

2

Encumburances

Nonpossessory interest in a property, a lien, easement, or restrictive covenant burdening the title

3

Easement in gross

An easement that benefits a person instead of land; there is a dominant tenant, but no dominent tenement. For example an easement held by public utilities for commercial purposes like to place power lines on property

4

Easement Appurtenant

An easement that grants access (Right of Way)

5

Dominant tenant

A person with easement rights on another's property; either the owner of a dominant tenement or someone who has an easement in gross

6

Dominant Tenement

Property that receives the benefit of an appurtenant easement

7

Servient Tenement

Property burdened by an easement; the owner of the servient tenement (the servient tenant) is required to allow someone who has an easement (the dominent tenant) to use his property pg 169

8

License

is a temporary, revocable, non-assignable permission to enter another's land for a particular purpose. A license is similar to an easement because it grants permission to use another's property. It does not create an interest in property and is not considered an encumbrance

9

Lien.

is considered to be a financial encumbrance. Liens are typically security for a debt that gives the creditor, or lien holder, the right to foreclose on the debtor's property if the debt is not paid.

10

General Lien

Attached to all property, personal and real, owned in the country by the debtor

11

Specific Lien

Attaches only to specific property

12

Voluntary Lien

Placed against property with consent of the owner

13

Involuntary Lien

arise by operation of law without consent of the property owner

14

Mechanic's Lien

Claimed by someone who performed work on the real property and was not paid

15

Judgement Lien

liens against a person's personal property through court action

16

Homestead Estate

property that is occupied as the principal dwelling place by the owner(s).

17

Attachment Lien

intended to prevent transfer of property pending the outcome of litigation

18

Lis Pendens

Notice of a pending suit. It gets recorded