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34 Cards in this Set
- Front
- Back
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deed restriction
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restrictions on your property ie use paint not vinal siding
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encumbrance
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physical restrictions, easements, encroachments. Runs with the land until it is terminated.
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Condemnation
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When an owner will not consent to eminant domain gov exercises this right by judical proceedings.
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escheat
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State aquires privately owned property. Intended so property won't become ownerless or abandoned.
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emblement
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Personal property. Fructis industrious.
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Appurtenance
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Right, privilege or improvement belonging to the land.
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Accession
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If trade fixture stays it becomes real property of the owner.
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Situs
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Location
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Ministerial acts
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acts a licensee performs for the client or customer ie show property,prepare offers, counteroffers.
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statutory
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in accordence with the law
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Ad Valorem
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according to value. based on value.
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Caveat Emptor
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"Let the buyer beware"
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Lis Pendens
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Litigation pending
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Pur Autre Vie
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For the life of another.
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Free hold estates
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Inherited estates. estates for an indeterminable period of time.
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Lease hold estates
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estates for a fixed period of time ie rentalperiods
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types of freehold estates
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fee simple-the highest type of interest. Forever.
Fee simple absolute-no limitations fee simple defeasable-limited. defeatable. Your ownership can be defeated. Life estate-limited to the duration of a lifetime. Legal life estate -dower interest of the wife curtesy interest of the husband. homestead -won't get thrown out of house because of foxwood debt. created by state rather than voluntary. |
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36 squares miles=
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23,040 acres
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1 square mile=
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640 acres
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1 acre=
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43,560 ft
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Datum
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a point of reference for measuring elevation
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intestate
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without a will
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testate
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having a will
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testor
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one who has made a will
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devise
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gift of real property
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devisee
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person (recipient) of real property
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decendent
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deceased person
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legacy
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gift of personal property
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legatee
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person (recipient) of personal property
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ownership in severalty
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title to one person
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avulsion
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sudden removal of soil due to act of nature.
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Doctrine of prior appropriation
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The right to use water controlled by the state. landowner must demonstrate benificial use ie irrigation of crops.
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tenancy in common
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Only form of ownership allowed to be created by the courts.
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Deed of Conveyance
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Transfer rights from one party to another.
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