Encumbrances And Transfer

Front 1

encumbrance

Back 1

is an interest in real property that is held by someone who is not the owner. Anything that burdens or affects the title or the use of the property is an encumbrance.
Anything that affectsor limits the fee-simple title to or value of, property

Front 2

What are the two categories of encumbrances?

Back 2

Money encumbrances & Non-money Encumbrances

Front 3

money encumbrances

Back 3

are those that affect the title; Liens: trust deeds, mechanics liens, judgements and attachments, tax liens & speical assessments

Front 4

Non-money encumbrances

Back 4

those that affect the use of the property ; encumbrnaces, easements, restrictions, encroachments

Front 5

Liens

Back 5

uses real property as security for the payment of a debt
Lien$; examples, mortages, construction liens, tax lines

Front 6

specific lien

Back 6

is placed against a certain property; construction lien, mortage, attachment, property tax lien

Front 7

general lien

Back 7

affects all property of the owner such as a judgement lien or federal or state income tax liens.

Front 8

construction liens

Back 8

may be placed against a property by anyone who supplies labor, services or material used for improvements on real property and does not receive payment.

Front 9

Three steps that must be followed carefully to protect and perfect lien rights in Florida:

Back 9

Preliminary Notice
claim of lien
Foreclosure action

Front 10

Preliminary notice

Back 10

gives notice that their property may be liened if they do not pay for work completed.

Front 11

Claim of lien

Back 11

must be recored no later than 90 dyas from teh date the lienor last furnised labor, services or material to the project,
must also be served within 15 days of the day it was recorded

Front 12

Privity

Back 12

is a connection of mutual interest between parties

Front 13

Foreclosure action

Back 13

after a construction lien is recorded the claimant has one year to bring foreclosure acti to enforce the lien.

Front 14

tax lien

Back 14

if any government taxes such as income or property taxes are not paid, they become a tax lien against the property.

Front 15

special assessments aka, specific liens

Back 15

are levied against property owners to pay for local improvements

Front 16

writ of attachment

Back 16

is the process by which the court holds the real or personal properyt of a defendant as security for a possbile judgment pending the outcome of a lawsuit.

Front 17

when the wirt of attachment is recoreded or filed is creates what?

Back 17

attachment lien- involuntary, specific lien that is valid for a number of years

Front 18

in order for a judgement to create a lien, you must provide abstract of judgment, which is:

Back 18

summary of the court decision, must be recoreded with the county recorder with the county recoreder

Front 19

Judgment lien

Back 19

is placed on al non-exempt property owned or acquired by the judgment debtor for five years

Front 20

writ of execution

Back 20

when the court forces the sale of property to satisfy the judgment

Front 21

lis pendens

Back 21

or pendency of action is a recoreded notice that indicates pending litigation affecting the title on a property

Front 22

easement

Back 22

is the right to enter or use someone else's land for a specified purpose

Front 23

servient tenement

Back 23

the owner whose land is being used

Front 24

dominant tenement

Back 24

the person's land receiving the benefit of the easement

Front 25

easement in gross

Back 25

no donimant tenement, most popular

Front 26

license

Back 26

is permission ot use property, where it can be revoked

Front 27

how is an easement created ?

Back 27

express grant or reservation in a deed, writte nagreement between owners of adjoining land.

Front 28

servient tenement does what to grant the easement

Back 28

gives a deed or express agreement

Front 29

Ture of false, the exitence of an easement has to be written in a deed?

Back 29

False

Front 30

Prescription

Back 30

is the process of acquiring an interest, not ownership in a certain property . do not have to pay taxes on this.

Front 31

easement by prescription

Back 31

may be created by continuous and uninterrupted use by a single party for a period of 20 years

Front 32

adverse prosession

Back 32

is a method of obtaining title to realty by occupying it in an open and hostile manner contray to the intrest of the owner.
you must pay taxkes on this.

Front 33

what are the 8 ways to terminate an easement? ADAM-E-LEE

Back 33

1.) abandonment - surrender of the easement
2.) destruction of the servient tenement - if the governemtn takes it for it's own use, eminent domain
3.) adverse possession - the owner
4.) Merger- if the same person owns the donimant and the servient
5.) Express release - sign a quitclaim deed
6.) legal proceedings - bring an action to quiet title (lawsuite)
7.) Estoppel - easement is no longer needed
8.) Excessive use - overuse

Front 34

Restriction

Back 34

is another type of encumbrance that is a limitation placed on the use of property

Front 35

Private restrictions

Back 35

are crated in the deed at the time of sale, it is placed by a present or past owner

Front 36

Public restriction

Back 36

Example is Zoning-government restrictions that benefit the public

Front 37

CC&R's

Back 37

covenants, conditions or restrictions.

Front 38

declaration of restrictions

Back 38

is where the CC&R's are listed and recoreded that gives each owner the right to enforce the CC&Rs

Front 39

Covenant

Back 39

is a promose to do or not do certain things. If broken, usually is money damanges or injunction (court order forcing a perso to do or not do an act)

Front 40

Condition is?

Back 40

similar to a covenant or a promise to do or not do something, the difference is, the penalty for breaking a condition is return of the property

Front 41

condition subsequent

Back 41

is a restriction placed in a deed at the time conveyance, upon furture use of the property

Front 42

Conditin precendent

Back 42

requires a certain event to take place prior to the title passing to the new owner.

Front 43

Public restriction

Back 43

primarily zoning laws which promote public health or general public welfare

Front 44

non - conforming use

Back 44

when you change a zone that require the zone to adhere to new zoning requirements.

Front 45

variance

Back 45

is an allowable difference to to the zoning laws fo ra structure or land use.

Front 46

encroachments

Back 46

placing a permanent improvement such as a fence, wall, driveway or roof so that it extends over th elot line

Front 47

What is the correct order of the three steps that must be followed to protect and perfect lien rights in Florida? Points: 0

claim of lien, preliminary notice, foreclosure action

preliminary notice, claim of lien, foreclosure action

claim of lien, foreclosure action, preliminary notice

foreclosure action, preliminary notice, claim of lien

Back 47

Hint: The three steps that must be followed carefully to protect and perfect lien rights in Florida are (1) preliminary notice, (2) claim of lien, and (3) foreclosure action.

Front 48

Dan sold property to Kate, who did not record the deed, but did occupy the premises. Dan then sold the same property to Tim, who did not inspect the property but did record the deed. After the second sale, who would have legal title to the property? Points: 0

The title would revert to Dan as the remainderman.

The title would remain with Kate.

The title would be Tim's due to Kate's failure to record the deed.

Tim would be able to sue Kate for failure to record the deed.

Back 48

Hint: Possession is considered constructive notice, just like recording. If a deed is not recorded, but the buyer moves in, that sale has priority over any later recorded deeds.
The title would remain with Kate.

Front 49

How can an easement be created? Points: 0

express grant

merger

excessive use

transfer

Back 49

Hint: An easement can be created by express grant, express reservation, implied grant or reservation, necessity, or prescription.

Front 50

Donna, who owns a ranch, gave Sam, who owns no property, a non-revocable right to cross her ranch to fish in the stream. Sam has a(n) Points: 10

easement in gross.

license.

easement appurtenant.

easement by prescription

Back 50

easement in gross.
Hint: An easement in gross is an easement not appurtenant to any one parcel; for example, an easement for public utilities. Sam does not have a license because the right is irrevocable. It is not an easement appurtenant because Sam owns no land and it is not an easement by prescription because Donna gave the easement in gross to Sam.

Front 51

A judgment lien is also considered Points: 10

equitable.

involuntary.

inferior.

superior.

Back 51

Hint: When the abstract of judgment is recorded, a judgment lien is placed on all non-exempt property owned or acquired by the judgment debtor for five years, in the county in which the abstract is filed. This is an involuntary lien.
involuntary

Front 52

Jim, the owner of an apartment building, did not declare the income from the rental units. The IRS filed a government tax lien as a result of the omission. What type of lien is this? Points: 10

voluntary lien

general lien

judgment lien

mechanics lien

Back 52

General Lien
Hint: A general lien affects all property of the owner. Property taxes and special assessments are specific liens, whereas other government taxes are general liens.

Front 53

What is the type of deed in which the grantor does not guarantee the title in any way except against acts by the grantor or the grantor's representative? Points: 0

gift

special warranty

bargain and sale

quit claim

Back 53

Speical Warranty Hint: In a special warranty deed, the grantor does not warrant the title (assume any responsibility for the title) in any way or manner except against acts by the grantor or the grantor's representative.

Front 54

After a construction lien is recorded, how long does the claimant have to bring a foreclosure action to enforce the lien? Points: 0

one year

five years

60 days

90 days

Back 54

one year

Front 55

What is the revocable permission to use property called? Points: 10

license

easement

encroachment

option

Back 55

Hint: A license is permission to use property. However, a license to use may be revoked at any time.