Chapter2- Encumbrances & Trasfer Of Ownership

Question 1

Encumbrance

Answer 1

IS a lien, clam, charge, or lability against property,may create a cloud on the title.

Question 2

Lien

Answer 2

Creates a legal obligation to pay.

Question 3

Restriction

Answer 3

Is a limitation placed on the use of property

Question 4

Deed restrictions

Answer 4

And covenants are created in the deed at the time of sale or in the general plan of a subdivision by the developer.

Question 5

Easement

Answer 5

Is the right to enter or use someone else’s land of a specified purpose.

Question 6

Easement appurtenant

Answer 6

Creates an egress and ingress , attaches to the land

Question 7

Easement in gross

Answer 7

Oil and gas pipelines and public utilities also have easements that are not appurtenant to any one parcel.

Question 8

Express grant

Answer 8

The servient tenement, or the giver of the easement , grants the easement by deed or express agreement.

Question 9

Express reservation

Answer 9

The seller of a parcel who owns adjoining land, reserves an easement or right of way over the former property.

Question 10

Necessity

Answer 10

An easement by necessity is created when a single parcel is partitioned leaving one or more parcels completely landlocked with no access to a street.

Question 11

Prescription

Answer 11

An easement by prescription may be created by continuous, uninterrupted use, by a single party or a number of parties, for statutory period.

Question 12

Terminating an easement

Answer 12

• failure off purpose
• abandonment
• merger
  *express release
  FAME

Question 13

Failure of purpose

Answer 13

An easement at be terminated if the purpose for crating the easement no longer exists.

Question 14

Abandonment

Answer 14

The obvious and intentional surrender of the easement

Question 15

Merger

Answer 15

If the same person of the dominant and servient tenements,

The easement is terminated.

Question 16

Express release

Answer 16

The owner of the dominant tenement is the only one who can release an easement. A usual way would be to sign a quitclaim deed.

Question 17

Encroachment

Answer 17

Placing a permanent improvement ( fence, wall, driveway, or roof) so that it extends over the lot one into adjoining property owned by another.

Question 18

How title to real estate is acquired or conveyed

Answer 18

• will
• descent
• natural forces
• adverse possession
• transfer by deed

Question 19

Will

Answer 19

Disposes of property after death

Question 20

Witnessed will

Answer 20

Usually prepared by an attorney and signed by the maker (testator) and two witness.

Question 21

Holographic will

Answer 21

Written in the makers own handwriting, dated, and signed by the maker.

Question 22

Codicil

Answer 22

The maker may change a will

Question 23

Devise

Answer 23

Gift of real property by will

Question 24

Bequest or legacy

Answer 24

Gift of money or personal property by will

Question 25

Intestate

Answer 25

Means dying without a will

Question 26

Testator

Answer 26

Is a person who makes a will and is said to die testate

Question 27

Probate

Answer 27

Is a legal process to prove a will is valid

Question 28

Decent (succession)

Answer 28

Is the legal transfer of a person's interest in real and personal property under the laws of descent and distribution.

Question 29

Intestate succession

Answer 29

When a person inherits property as a result of someone dying without a will

Question 30

Accession

Answer 30

Is a process by which there is an addition to property by the efforts of man or natural forces

Question 31

Alluvium

Answer 31

The gradual build up of soil

Question 32

Accretion

Answer 32

By natural causes on property bordering a river, lake, or ocean

Question 33

Erosion

Answer 33

Is the gradual wearing away of land by natural processes.

Question 34

Avulsion

Answer 34

The sudden washing or tearing away of land by water action

Question 35

Adverse possession

Answer 35

One can acquire title to property by actual occupation,which is notorious, hostile, and continuous for the statutory period.

Question 36

Deed

Answer 36

Is a legal instrument used to transfer an interest in real property

Question 37

Grantor

Answer 37

Is the person conveying the property

Question 38

Grantee

Answer 38

Is the person receiving the property

Question 39

Elements of a valid deed

Answer 39

* legally competent grantor * legal description * consideration * words of conveyance * name grantee * signed by the grantor, delivered to and accepted by the grantee

Question 40

Habendum clause

Answer 40

Begins with the words to have and to hold and defines or limits the ownership interest of the grantee

Question 41

Types of deeds

Answer 41

* general warranty deed * special warranty deed * bargain and sale deed * grant deed * quitclaim deed

Question 42

General warranty deed

Answer 42

* covenant of seizen * covenant against encumbrances * covenant of quiet enjoyment * covenant of further assurance * covenant of warranty forever

Question 43

Special warranty deed

Answer 43

``` *grantor only warrants the title to the property during the time of the grantors ownership #used in foreclosed sales by Leander's #used in sales in which the relocation company has taken title #used in estate sales ```

Question 44

Bargain and sale deed

Answer 44

(Deed without warranty)is simply a deed that does not contain any covenant of warranty but does imply ownership by the grantor.

Question 45

Grant deed

Answer 45

* grantor has not already conveyed title | * estate is free encumbrances than those disclosed by the grantor

Question 46

Quitclaim deed

Answer 46

The grantor only conveys the right,title, and interest of the grantor * no warranties or covenants to the grantee * release deed * used to clear a cloud on a title * used to release any interest the grantor has or may have

Question 47

Public grant

Answer 47

Is the transfer of title by the government to a private individual

Question 48

Land patent

Answer 48

Is the document used by the government to show the original transfer title to land to an individual

Question 49

Involuntary alienation/Operation of law

Answer 49

* foreclosure * bankruptcy * quiet title action * partition action * execution of sale * escheat * eminent domain * condemnation

Question 50

Foreclosure

Answer 50

Is the legal process used by a lender to seize property of a homeowner for breach of a deed of trust or mortgage

Question 51

Bankruptcy

Answer 51

Is the court proceeding to relieve a person's or company's financial insolvency

Question 52

Quiet title action

Answer 52

Is a court proceeding to clear a cloud on the title of real property

Question 53

Partition action

Answer 53

Is a court proceeding to settle a dispute between co-owners (joint tenancy or tenants in common) about dividing their interests in real property

Question 54

Execution sale

Answer 54

Is a forced sale of property under a court order with the proceeds used to satisfy a money judgement

Question 55

Escheat

Answer 55

Is a legal process in which real and personal property under reverts to the state because the deceased owner left no will and has no legal heirs the state must wait a number of years before trying to claim the property

Question 56

Eminent domain

Answer 56

is the power of the government to take private property for the public use after paying just compensation to the owner

Question 57

Condemnation

Answer 57

Is the process by which the government acquires private property for public use, under its right of eminent domain