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16 Cards in this Set
- Front
- Back
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What is condemnation?
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process of exercising the power of eminent domain to acquire private land for public use.
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What is a defeasible fee estate?
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When the rights of ownership in real estate are dependent on the occurrence or non-occurrence of a certain event, it is known as a defeasible fee estate.
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What is a fee simple determinable estate?
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An interest in property which may last forever, except upon the happening or non-happening of a specified event, at which point it will automatically terminate,
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What is a limited fee estate?
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One who owns a fee in reversion or remainder.
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What is an estate for years?
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this type of lease, there is a defined specific beginning date and an ending date for a specific term
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What is a periodic estate?
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A lease from month to month or year to year.
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What is tenancy by the entirety?
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Tenancy by the entirety is a statutory form of ownership created by a conveyance to a husband and wife
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Who holds an easement appurtenant?
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Dominant Tenant
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Name 3 ways easements may be acquired.
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private grant, prescription, reservation.
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Is a personal easement in gross assignable?
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No.
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Leases and options are examples of chattel real or personal?
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real
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What is the main type of qualified fee estate?
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fee simple determinable.
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What is a qualified fee estate?
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A freehold estate with a less-than-absolute interest in real property, subject to certain conditions or contingencies such as the occurrence (or non-occurrence, as the case may be) of certain specified events. Also known as an Estate in fee simple defeasible
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What is a fee simple determinable estate?
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An interest in property which may last forever, except upon the happening or non-happening of a specified event, at which point it will automatically terminate
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What type of estate is an indefeasible fee?
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Fee Simple
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What is community property as it applies to ownership?
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In a community property jurisdiction, most property acquired during the marriage (except for gifts or inheritances) is owned jointly by both spouses and is divided upon divorce, annulment or death
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