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24 Cards in this Set
- Front
- Back
Allodial System |
A system of land ownership which recognizes the right of individuals to own land independently of political superiors, but allows the government to retain the rights of eminent domain, police power, taxation and escheat |
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Attachment Lein |
An encumbrance created against land when the court is granted custody of the property to prevent the owner from conveying title while a suite for damages is being decided. By attaching the property the person seeking damages is assured that the property will be available to satisfy a judgement if it is awarded by the court. |
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Bundle of Rights |
All of the rights a person can have in real property. Included in the bundle are the rights of possession, control, enjoyment, and disposition |
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Commercial Easement in Gross |
A right to use the land of another. It does not benefit any particular property. The right is transferable and freely inheritable. Typical examples include utility easements, railroad right-of-ways and billboard easements. |
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Condition |
A provision in a deed which subjects the ownership of land to certain restrictions. The party creating the condition (the grantor) reserves a future right in the property. Upon the occurrence or nonoccurrence of a stated condition, either the title automatically reverts to the grantor, or the grantor has the right to sue for possession and terminate the estate.
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Consummate Dower |
A wife's right to her husband's estate after his death. |
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Covenant |
A restriction in a lease or deed which specifies that the property will or will not be used in a certain manner. An example of a covenant is a subdivision restriction. Covenants must be enforced by seeking an injunction or damages. Covenants have a time limit after which they are no longer effective. |
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Dominant Estate |
The land parcel which benefits from an easement appurtenant. When title to the land is conveyed, the easement is automatically transferred to the new owner |
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Dower |
A wife's life estate in the real property owned by her husband and conveyed to her by law upon his death |
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Easement Appurenant |
An easement which grants a right of use to one parcel of land in and on another parcel. The land over which the easement runs is the servient estate. The land benefiting from the easement is the dominant estate. |
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Easement in Gross |
A legal right to use the land of another. It involves only parcel of land and does not benefit any particular property There are two types: commercial and personal. |
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Easement |
A legal right to use the land of another for a specific purpose and in a specific manner. The right only constitutes an interest in the land. it does not give the easement owner an estate. |
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Egress |
An exit leading from the parcel of land |
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Eminent Domain |
The Government's right to take private property for public use with or without the consenting of the owner upon payment of a just compensation to the owner. The right may be with or delegated to quasi-public corporations, such as utility companies. the court suit for taking the property is called condemnation |
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Encroachment |
The illegal intrusion of an improvement, building or other attachment onto a neighboring land or into its airspace |
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Encumberance |
Anything which affects the fee simple title or the use of land such as liens, easements, restrictions and encroachments. |
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Equitable Title |
See Voluntary Lien |
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Escheat |
A government right for land to go back to the state when the owner dies without leaving a will and without heirs. |
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Estate at Sufferance |
An interest in real property held by a tenant who holds over without the consent of the landlord after the tenant's right of possession has terminated. |
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Estate for years |
A tenant's interest in real property (leasehold estate) for a fixed period of time. |
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Estate from Period to Period |
A tenant's interest in real property (leasehold estate) for a certain period of time. Without proper notice the period is automatically renewed. |
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Estate |
the quality, quantity, nature and extent of ownership interest or rights a person holds in real property. Estates are either possessory or nonpossessory. |
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Fee Simple Absolute |
An inheritable estate of indefinite duration, without restrictions or conditions to satisfy in order to retain ownership. It is the most complete ownership of rights in land that one can hold. It is said to be potentially perpetual. |
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Fee Simple Determinable |
A fee simple estate that automatically ends and goes back to the person who granted the estate, to their heirs or to a remainderman if names, upon the occurrence or nonoccurrence of a stated condition |