Unit 6: Estates and Interests Flashcards by Ryan Schwarz

Q

Construction Lein

A

placed against real estate by a worker who has not been paid

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Q

Convey

A

transfer by sale or gift

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Q

Curtsey

A

husband’s rights in wife’s property

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Q

Dominant Estate

A

property that benefits from an easement

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Q

Dower

A

wife’s rights in husband’s property

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Q

Easement

A

permanent right to use another’s land

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Q

Easement Appurtenant

A

right that runs with the land

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Q

Easement by Necessity

A

right of access to a landlocked parcel

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Q

Easement by Prescription

A

right sometimes acquired through usage

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Q

Easement in Gross

A

right used for utility lines on another’s land

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Q

Encroachment

A

building intruding on another’s land

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Q

Encumbrance

A

any easement, encroachment, etc.

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Q

Estate in Land

A

amount of ownership

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Q

Fee Determinable

A

ownership “as long as”

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Q

Fee Simple

A

most complete ownership of land possible

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Q

Freehold Estate

A

ownership lasting indefinitely

Q

General Lien

A

claim against all property someone owns

Q

Involuntary Lien

A

property taxes are one

Q

Leasehold Estate

A

right to use and possess for limited time

Q

License

A

temporary permission

Q

Lien

A

financial claim against real estate

Q

Life Estate

A

complete ownership until someone’s death

Q

Lis Pendens

A

notice that a lien may be filed

Q

Mortgage Lien

A

lender’s claim against real estate

Party Wall

structure owned by two adjoining landowners

Priority

the order in which liens are paid

Remainderman

third party who will gain eventual ownership

Reversionary Interest

future interest of an owner

Servient Estate

the tract over which an easement runs

Specific Lien

claim against one parcel of real estate

Tracking

adding successive periods of usage

Voluntary Lien

mortgage or equity loan, for example