ENGRADE Chapter 3 Flashcards Preview

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Flashcards in ENGRADE Chapter 3 Deck (10):

A homeowner objected when a local utility company dug up his garden to install a natural as line. The company claimed it had a valid easement supported by the county records. The homeowner claimed the easement was not valid because he was unaware of its existence. The easement was

A valid easement in gross even though the owner did not know about it.


The owner of two acres of land sold one acre but retained an appurtenant easement over that land for ingress and egress to his retained lot. The retained lot

is the dominant tenement


A state income tax lien would be properly classified as

A general lien


Under which of the following lien can both the real property and the personal property of the debtor be sold to pay the debt?



Lien that holds 1st priorty?

Ad Valorem Real Estate Tax Lien


Charges levied on a property owner and limited to those living in a particular neighborhood to pay for the installation of sewer and water lines are

Special Assessments


The ad valorem property tax rates may be adjusted every



Encumbrance on a parcel of real estate

Real Estate Taxes
Protective Covenants


An easement would be properly terminated by

The doctrine of Merger

Release of the Easement by the holder of that right

Abandonment of the easement

(NOT the sale of the property)


When real estate property taxes have been paid by the owner and the property is sold before the end of the year, what is the appropriate entry for the accounting of the taxes on the HUD-1 settlement statement?

Debit Buyer
Credit Seller