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Flashcards in Chapter 2 Deck (62)
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1

Co-Ownership

Title of real property held by 2 or more ppl. @ the same time.
aka:
1. Tenancy in Common
2. Tenancy by the Entity
3. Joint Tenancy
4. Concurrent Ownership

2

Survivorship

Right of surviving co-owner to receive deceased co-owners title of property w/o going through probate.
It is immediate.

3

Time Share

1. Occupy 1 or more units
2. for 5 non consecutive periods
3. Over at least 5 years

Freehold or Leasehold

4

Prescription

A method of acquiring an easements by continuous & un interrupted use w/o permission

5

Party Wall

A common wall used by two adjoining striations

ex: Townhome adjoining wall

6

Partition

Legal proceeding dividing property of co-owners that each hold title to a specific portion of the property.

7

Mineral Law

A non freehold/leasehold estate in the area below the surface of the land

8

Marital Life Estates

Created by right of:

1. Dower
2. Curtsey
or
3. Statutory Substitute

9

Lis Pendens

LIS -
Litigation
IS = is
Pendens = pending

10

Life Tenant

One holding a life estate

11

Life Estate

A freehold estate created for the duration of the life of certain name person(s)

A Non-inheritable estate

12

Lien

Chain one person has against the property of another for an unpaid debt.

13

Estovers

Right of a lift tenant or lessee to cut timber on property for fuel or to use in making repairs to the property.

14

Estate

Owners right to possession of Real Property

15

Encumbrance

Attached to & binding upon real property
1. Claim
2. Lean
3. Charge
4. Liability

16

Encroachment

A trespass on the land of another as a result of an intrusion by some structure or object.

Ex: your shed on your neighbors property

17

Eminent Domain

The power of government to take private property for use.

18

Easement in Gross

The legal right to use another person's land for as long as the owner owns that land or the holder of the easement dies.

19

Easement

A nonpossessory right of use in the land of another.

The right of way which one landowner A may enjoy over the land of another B.

20

Dower Rights

Common law right of a wife to the estate and property of her deceased husband.

21

Defeasible Fee

A title that is subject of being lost if certain conditions occur.

22

Declaration of Restrictions

Instrument used to record restrictive covenants on public record.

23

Curtesy

Common law right of a husband to the estate and property of his deceased wife.

24

Co-Op

Form of ownership through stock
Stockholder in a corporation occupy property owned by the corporation under a lease.

25

Condo

Individual ownership of unit + Co-ownership of common areas

26

Condemnation

Exercise of power of eminent domain

Taking private property for public use by paying just and fair compensation

27

Alienation

Transfer of title to Real Property

28

Subjacent Support

Right to have your land supported from below

Ex: California homes on a hill or Todt hill homes

29

Annexation

Personal property that becomes Real Property by attachment
Fixtures
Ex: Buying tress from a nursery (personal property) and planting them (real property)

30

Total Circumstances Test

Test to determine if item is a fixture or not.
Ask Aunt Irma
*I - Intent - Was the intent to make this permanent?*
R - Relationship - Owner/Permanent Tenant/Temporary
M- Method - Does the method of attachment mean removal will cause damage?
A - Adaptation - How is the item being used? Ex: Blinds custom made for a custom window.