Flashcards in Chapter 6: Estates And Interests. Key Terms Part 2 Deck (16):
an ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord. Although a tenant does hold rights to real property, a LEASEHOLD ESTATE is typically considered personal property.
considered giving temporary permission
A financial claim against real estate.
The order in which liens are paid.
This is a NOTICE that a Lien may be filed.
These are known and brought about by the owner for example a mortgage or equity loan.
A claim against one parcel of real estate.
The lenders claim against real estate.
A third-party who will eventually gain ownership.
A claim against all property somebody owns.
Future interests of an owner.
Adding successive periods of usage. Usually these periods are hostile.
The owner of land who has given the neighboring owner an easement. (it is the tractor over which the easement runs.)
Claim imposed against a property without the consent of its owner(s). Involuntary liens are placed usually by government revenue authorities for unpaid duties or taxes.
A structure owned by two adjoining landowners. And example is a stone wall that separates the property both parties on this wall and are responsible for taking care of it.