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13 Cards in this Set
- Front
- Back
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Encumbrance |
A claim made against real property by someone other than the owner |
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Deed restriction |
A limitation on the use of a property generally originated by a seller or a subdivider in a deed |
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Restrictive covenant |
A limitation imposed on property owners in a residential subdivision by a builder to maintain development conformity |
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Laches |
The loss of ones right to enforce a restrictive covenant as the result of unreasonable delay or failure to take action |
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Easement in gross |
Personal right to use the land of another, the right of way of utility company lines |
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Easement appurtenance |
An easement that runs with the land or passes with the conveyance of title to successive owners |
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Easement by necessity |
The right of ingress and egress over landlocked land A) ingress - the right to enter land B) egress - the right to exit land |
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Easement by prescription |
Obtaining an easement by prolonged use as defined by law and through open, visible, hostile, notorious use against the owners consent |
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Easement by condemnation |
The government obtains an easement over private property for public use with compensation to the owner |
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Encroachment |
Occurs where one owners real property extends beyond the boundary line into the real property of another owner |
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General lien |
A claim that affects all the real and personal property of the debtor |
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Specific lien |
A claim that affects only one parcel of real property of the debtor |
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Subordination agreement |
A document that changes the order of the liens to allow a lender to move into first lien position. |
