Chapter 6: Estates And Interests. Key Terms Part 1 Flashcards Preview

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Flashcards in Chapter 6: Estates And Interests. Key Terms Part 1 Deck (16):
1

Construction lien

Placed against real estate by a worker who has not been paid.

2

Convey

A transfer by sale or gift.

3

Curtesy

Prior to 1980 husbands rights in his wife's property.

4

Dominant estate

The property that benefits from an easement.

5

Dower

A wife's rights in her husband's property this is prior to 1980.

6

Easement

The permanent right to use another's land.

7

Easement Appurtenant

A right that runs with the land. This easement is usually given to another to access for example a body of water.

8

Easement by necessity

The right of access to a landlocked parcel.

9

Easement by prescription

one that is gained under principles of a legal concept known as "adverse possession", under which someone other than the original property owner gains use or ownership rights from a hostile, continuous and open manner for a statutorily prescribed number of years(20 yrs.).

10

Easement in gross

Typically a right used for utility lines on another's land this can include cable telephone etc.

11

Encroachment

A building or something from an adjacent land owner that intrudes on another's land

12

Encumbrance

Any easement, encroachment, a right to, interest in, or legal liability on real property that does not prohibit passing title to the property but can diminish its value. Encumbrances can be classified in several ways.
They may be financial (ex: liens) or non-financial (ex: easements, private restrictions).

13

Estate in land

Amount of ownership

14

Fee determinable

Ownership "as long as"...continue for an indefinite period as long as they follow the determination of use established by the owner. An example would be giving a nature reserve the right to your land as long as they don't build anything on it, if they build an office or anything on the property they would lose the right to use the property and it would revert back to the owner or a remainderman.

15

Fee simple

This is the most complete ownership of land possible.

estate in fee simple is the highest type of interest in real estate recognize by law. The holder is entitled to all rights.

Synonyms: Fee, feesimple, and fee simple absolute.

16

Freehold estate

Ownership lasting indefinitely.