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15 Cards in this Set
- Front
- Back
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Terminating Easements |
1. Release 2. Merger 3. Abandonment 4. Prescription 5. Failure or expiration of purpose 6. Court action |
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Encumbrance |
Like a lien, ad easement is considered an encumbrance since it burdens a real property owners title |
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Right of way (ROW) |
An easement that grants access to property |
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Easement |
A right to use another person real property for a particular purpose |
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Tax Liens |
Liens on property to secure payment of taxes |
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Easement Appurtenant |
Involves two separately deeded parcels that are owned by different parties. This type of easement burdens one piece of land (called servant tenement) for the benefit of the other piece of land (called dominant tenement) |
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Enrochment |
A physical object intruding into a neighbors property |
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License |
A temporary, revocable, non assignable permission time enter another’s land for a particular purpose |
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Lien |
Not only a financial interest in property, it’s also a financial encumbrance. This is typically security for a debt that gives the creditor the right to foreclose on debtors property if debt is not paid. Can be voluntary, involuntary, and as general or specific |
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Mechanics Liens & Materialman’s Liens |
Liens that’s are claimed by someone who performed work on real property and was not paid |
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Mortgages |
Written instruments that use real property to secure pay emend of debt |
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Judgement Liens |
Liens against a persons property through court actions |
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Lis Pendens (Notice to the world) |
A notice of pending suit |
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Attachment Liens |
Liens intended to prevent transfer of property pending the outcome of litigation |
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Property Tax Liens |
It’s superior to all other liens. It will always be paid before any other liens when the property is sold |
