Real Estate AZ - Land Dev, Zoning, Encumber, Liens 2 Flashcards Preview

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Flashcards in Real Estate AZ - Land Dev, Zoning, Encumber, Liens 2 Deck (43)
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1

B_____ Z____

An Area Separating Two Incompatibly Zoned Areas From Each Other.

Chap 2

Buffer Zone -

An Area Separating Two Incompatibly Zoned Areas From Each Other.

Chap 2

2

S______

The Minimum Distance From the Street and/or Lot Lines to Build Structure

Setback -

The Minimum Distance From the Street and/or Lot Lines to Build Structure

Chap 2

3

NAOS: N_____ Area Op___ Sp____ -

Easement Restricting and Preserving Use of Natural Environment

NAOS: Natural Area Open Space -

Easement Restricting and Preserving Use of Natural Environment

Chap 2

4

An Area Set Off by Municipal Authorities for Specific Use (Residential, Commercial, Agricultural, Industrial, Special Purpose)

Chap 2

Zone -

An Area Set Off by Municipal Authorities for Specific Use (Residential, Commercial, Agricultural, Industrial, Special Purpose)

Chap 2

5

V_____ -

Use Granted In Violation of the Zoning Ordinance, when Zoning Poses a Undue Hardship.

Example: Build a Garage Closer To the Property Line than the Setback Allows.

Variance -

Use Granted In Violation of the Zoning Ordinance, when Zoning Poses a Undue Hardship.

Example: Build a Garage Closer To the Property Line than the Setback Allows.

Chap 2

6

Non-C_______ U___ (Gra________ U___)

Pre-dates Zoning Ordinance

 

Nonconforming Use (Grandfathered Use) -

Pre-dates Zoning Ordinance

Chap 2

7

Encu________ -

Claim, Right or Interest Held by Non-Legal Owner By Deed Restriction, Easement or Liens

Chap 2

Encumbrance -

Claim, Right or Interest Held by Non-Legal Owner By Deed Restriction, Easement or Liens

Chap 2

8

D____ R_______

  1. Restrictive Covenants, CCR's.
  2. Enforced By - Property Owners and HOA.   Can seek "In______ Relief," In Court.
  3. Most Restrictive AppliesZoning vs Restriction.
  4. "For Sale" or "For Rent" Signs and Solar Devises - MAY NOT Be Prohibited, But Must Conform to Industry Standards

Chap 2

Deed Restrictions -

  1. Restrictive Covenants, CCR's.
  2. Enforced By - Property Owners and HOA.   Can seek "Injuctive Relief," In Court.
  3. Most Restrictive Applies -  Zoning vs Restriction.
  4. "For Sale" or "For Rent" Signs and Solar Devises  - MAY NOT Be Prohibited, But Must Conform to Industry Standards

Chap 2

9

Easement App______ -

  1. Gives Right Across Property for Benefit of Adjacent Property.
  2. It is a Permanent Easement.
  3. Easement May Be For Ingress and Egress Access to Water or Utilities.

Chap 2

Easement Appurtenant -

  1. Gives Right Across Property for Benefit of Adjacent Property.
  2. It is a Permanent Easement.
  3. Easement May Be For Ingress and Egress Access to Water or Utilities.

Chap 2

10

Easement In Gr_____

  1. Right Across Property for Benefit of 3rd Party (Utility Easement)
  2. Not To Be Confused with Easement Appurtenant.

Chap 2

Easement in Gross - 3rd Party

  1. Right Across Property for Benefit of 3rd Party (Utility Easement)
  2. Not To Be Confused with Easement Appurtenant.

Chap 2

11

Easement P_______ -

  1. Gives One Person Permission (License) To Cross or Use Another's Property
  2. Not permanent, May Be Revoked

Chap 2

Easement Personal -

  1. Gives One Person Permission (License) To Cross or Use Another's Property
  2. Not permanent, May Be Revoked

Chap 2

 

12

C________ Easement -

An Agreement that Limits Certain Types of Uses or Prevents Development from Taking Place on Property, when Land in Private Ownership.

Chap 2

Conservation Easement -

An Agreement that Limits Certain Types of Uses or Prevents Development from Taking Place on Property, when Land in Private Ownership.

Chap 2

13

Ways to Terminate Easements:

  1. Mer____
  2. Quit C_____ Deed (Title Defects)
  3. Quiet T____ Action (Court Action Remove Cloud)

Chap 2

Ways to Terminate Easements:

  1. Merger
  2. Quit Claim Deed (Title Defects)
  3. Quiet Title Action (Court Action Remove Cloud)

Chap 2

14

 

Assessments Revealed by Survey, and Liens for Public Improvements (Lights, Sidewalks, Pavement, Etc) are called?

Chap 2

Government Assessments -

Assessments Revealed by Survey, and Liens for Public Improvements (Lights, Sidewalks, Pavement, Etc)

Chap 2

15

Con_____ -

Legally Enforceable Agreement, To Do or Not To Do a Specific Thing.  Promise or a Set of Promises, Courts will Enforce.

Chap 3

Contract -

Legally Enforceable Agreement, To Do or Not To Do a Specific Thing.  Promise or a Set of Promises, Courts will Enforce.

Chap 3

16

Assessments for Specific Improvements (Lights, Sewer)

Special Assessments -

Assessments for Specific Improvements (Lights, Sewer)

Chap 2

17

Liens placed against a Specific Property, such as Real Estate Taxes, Government Assessments, Mechanical Liens, but also Mortgages, Trust Deeds, and Land Contracts

Chap 2

Specific Liens -

Liens placed against a Specific Property, such as Real Estate Taxes, Government Assessments, Mechanical Liens, but also Mortgages, Trust Deeds, and Land Contracts

Chap 2

18

G_____ Liens -

Liens Placed Against an Individual and All Real and Personal Property, such as

Examples: Judgement and Income Tax Liens.

General Liens -

Liens Placed Against an Individual and All Real and Personal Property, such as

Examples: Judgement and Income Tax Liens.

Chap 2

19

Priority of Liens are:

  1. Pro____ Taxes,
  2. Fore_____ Costs,
  3. Sp_____ Assessments,
  4. Mec_____ Liens,
  5. HOA Assessements

Priority of Liens are:

  1. Property Taxes,
  2. Foreclosure Costs,
  3. Special Assessments,
  4. Mechanic Liens,
  5. HOA Assessements

Chap 2

20

Court Action to Remove Cloud

Chap 2

Quiet Title Action -

Court Action to Remove Cloud

Chap 2

21

Deed Used to Clear Title Defects. Has No Warranties.

Example: Taking Spouse Off Title.

Chap 2

Quit Claim Deed -

Deed to Clear Title Defects

Chap 2

22

 

Claim (Money Encumbrance) on Property to Secure Debt

Chap 2

Lien -

Claim (Money Encumbrance) On Property to Secure Debt

Chap 2

23

 

Equivalent to 9 SqFt

Chap 2

 1 Sq Yard

Equivalent to 9 sq ft.

Chap 2

 

 

24

Cov______ -

Type of Agreement in a Contract or Obligation, Restricts the Buyer from Taking Some Action or Requires that They Abstain from a Specific Action

Covenant -

Type of Agreement in a Contract or Obligation, Restricts the Buyer from Taking Some Action or Requires that They Abstain from a Specific Action

Chap 2

25

E______ -

Right to Use Another's Property for a Specific Purpose

Chap 2

 

Easement -

Right to Use Another's Property for a Specific Purpose

Chap 2

 

26

 

When There is a Right Across one Property For the Benefit of the Adjacent Property. The Adjacent Property Benefited by the Easement is called

Dominant Parcel -

When There is a Right Across one Property For the Benefit of the Adjacent Property. The Adjacent Property Benefited by the Easement and called Dominant Parcel

Chap 2

 

27

 

When there is a Right Across a Property (an easement).  What is the Property Called that has the Easement Across it?

Chap 2

Servient Parcel -

When there is a Right Across a Property (an easement).  That property with Right Across it is Servient.

Chap 2

 

 

28

A Right a Property Owner has In an Adjacent Property By Which the Adjacent Property Owner May Not Interfer with View of Easement Holder.

View Easement -

A Right a Property Owner has In an Adjacent Property By Which the Adjacent Property Owner May Not Interfer with View of Easement Holder.

Chap 2

29

Easement by N________

Land Owned by Single Owner Broken into 2 or More Parcels, and One Parcel is Landlocked, this Easement Gives Access to Public Roads.

Easement by Necessity

Land Owned by Single Owner Broken into 2 or More Parcels, and One Parcel is Landlocked, this Easement Gives Access to Public Roads.

Chap 2

 

30

An Easement created by Adverse Possession?

Prescriptive Easement -

An Easement created by Adverse Possession

Chap 2