Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Real Estate > unit 3 > Flashcards

unit 3 Flashcards

(54 cards)

Start Studying
1
Q

an easement is not _____ but a license is

A

revocable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

a claim that on party has against the land of another to secure payment of a debt is a

A

lein

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

a person who has not been paid for work performed on real property may record a

A

mechanics lein

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

a party wall shared driveway, or the right to cross the land of another are examples of an easement

A

apprutenant

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

the most complete form of ownership rights that allow an owner to occupy a parcel of real estate forever is

A

fee simple absolute

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

the type of lien that take priotity over all others is the

A

property tax lein

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

a freehold estate is an estate of ownership with an

A

indefinate duration

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

leasehold estates are estates of possession with an

A

definite duration

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

deed restrictions are created as a form of ________ of land use

A

private control

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

The process by whic the govvernment exercises its power to take private land for public use is

A

condemnation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

all of the following are government powers except:

deed restrictions, taxation, zoning, escheat

A

deed restrictions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

an estate refers to

A

the rights held by someone who has a prossessory interest in real estate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

when an individual or entity holds a claim against anothers property it is

A

a lien

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

what is considered real property rights?

A

land rights, governemnt rights, ownership rights

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

what would be used to reveal encroachments?

A

survery

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

which of the following liens has first priority

A

property tax lien

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

the grantor of a life estate retains

A

a reversionary interest

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

if ann grants a life estate to ben and specifies that title will be transferred to carl upon the death of ben what would be true of ben?

A

ben is the life tenant
ben owns the property
carl is the remainderman

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Life tenants in most life estates have all of the following

A

they can sell the property
they can lease the property
they may improve the property

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

All of the following could be encumbrances on real estate:

A

a lien, an easement, a deed restriction

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

an estate that lasts only as long as a specified condition is met is known as

A

a qualifed fee

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

The right of the government to establish zoning and land-use laws is an exercise of which of the following

23
Q

The grantor of a qualified fee has set the requirement that the property must be used only as a school this requirement is known as?

Study These Flashcards
A

a deed condition

24
Q

A leasehold estate with a definite expiration date that does NOT require notice of termination by either party is

Study These Flashcards
A

an estate for years

25
Which government right is exercised when the state acquires private property through condemnation and pays just compensation
eminent domain
26
what is the difference between a freehold estate and leaseholdestate?
freeholds have an indefinite duration | lease holds can be terminate
27
A holder of a life estate has all fo the following interests except: title, ownership, possession,remainder
remainder
28
an irrevocable right to use the lands of another is called
an easement
29
a holder of a freehold estate has rights of
ownership
30
which is not an estate of ownership? estate for years, life tenancy, fee simple, qualified fee
estate for years
31
All of the following would be considered to have an inters in land
a farmer who is leasing 20 acres, the holder of an easement, a lender holding a mortgage lien
32
Which estate usually does not terminate upon the death of the holder of the estate
estate for years
33
The property sam bought 30 years ago had an appurtenant easement for access then 20 years ago the county built a. new road and sam ahs not used the easment since that time. When sam sells the property the easment
remains in place and will transfer with the property
34
protection on a primary home agianst certian creditors in known as
homestead rights
35
a property owner passed away, having no heirs and leaving no will. Ownership of the property may rever tot he the state through the governments right of
escheat
36
a month to month lease is an example of
a periodic estate
37
public restrictions on private land use is an example of
police power
38
private restricions on pricate land use are best described as
deed restrictions
39
police power- public control of land
right to enact and enforce laws governing land use
40
eminent domain
right to take private land for public use
41
taxation-real property taxes and special assesments
property taxes: paid to the county where the property is sold (most powerful lein) special assessments: carges against specific properties that benefit from a public improvement
42
escheat
government's reversionary right to take property that has been abandoned
43
What does PETE stand for?
police power, eminent domain, taxation, escheat
44
estates
an interest or right in real property that allows or will allow possession freehold estate and leasehold
45
free hold estate
ownership for an indefinite duration
46
leasehold
possession for a fixed term
47
fee simple absolute
most complete bundle of rights -max ownership estate in real property lasts indefinitely transferable and inheritable
48
fee simple defeasible or qualified fee
created by a deed condition, often a gift | transferable and inheritable
49
life estate
upon death of the life tenant the estate returns to fee simple absolute and revers to either the grantor -reverter a third party: remainderman
50
key points of leasehold estates
the tenant lessee holds a leasehold estate the landlord lessor holds a leased fee estate witha. reversionary interst the purcahse of leased property obtains ownership subject to lease
51
estate for years
specific termination date- no notice required death of landlord or tenant does not terminate sale of property does not terminate
52
periodic estate
month-month
53
encumbrances
an encumbrance is any claim right or interest held by a party who is not the legal owner of the property buyers should contact an attorney
54
easement
the right to use the land of another for a specific purpose | attaches and runs with the land

Real Estate (22 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions