Unit 3

Question 1

Condemnation

Answer 1

The process by which the government exercises its right of eminent domain.

Question 2

Taxation

Answer 2

A charge imposed on real estate to raise funding for government services.

Question 3

Fee Simple Defeasible

Answer 3

An estate qualified by some action or activity that must or must not be performed.

Question 4

Eminent Domain

Answer 4

The right of a government to acquire privately owned real estate for public use.

Question 5

Escheat

Answer 5

The automatic transfer of real property to the state when the owner dies without heirs or a will.

Question 6

Estate in Land

Answer 6

The degree, quantity, nature, and extent of an owner’s interest in real property.

Question 7

Fee Simple Absolute

Answer 7

The highest interest in real estate recognized by law.

Question 8

Freehold Estates

Answer 8

A class of estates in land that last for an indeterminable period of time.

Question 9

Leasehold Estates

Answer 9

A class of estates in land for which the length of time can be determined.

Question 10

Police Power

Answer 10

A state’s ability to enact legislation to preserve order, protect the public health and safety, and promote the general welfare.

Question 11

Deed restriction

Answer 11

A private agreement that affects the use of land.

Question 12

Remainderman

Answer 12

The person to whom property passes when a life estate ends.

Question 13

License

Answer 13

A personal privilege to enter the land of another for a specific purpose.

Question 14

Encroachment

Answer 14

When a building, fence, or driveway illegally extends beyond the boundaries of the land of its owner or legal building lines.

Question 15

Encumbrance

Answer 15

An interest in real estate that does not rise to the level of ownership or possession yet still gives some degree of use or control of the property.

Question 16

Homestead

Answer 16

A legal life estate in which an individual’s primary residence is protected, in whole or in part, against certain creditors.

Question 17

Easement

Answer 17

The right to use another’s land for a particular purpose.

Question 18

Life Estate Pur Autre Vie

Answer 18

An estate based on the lifetime of a person other than the life tenant.

Question 19

Lien

Answer 19

A charge against property that provides security for a debt or obligation of the property owner.

Question 20

Lis Pendens

Answer 20

A notice filed in the public record of pending litigation affecting the title to property or a claimed ownership interest in it.