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108 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Police power |
Refers to the inherent power of a state to adopt and enforce laws and regulations that promote the health, safety, morals, and general welfare or the public |
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Building codes |
Established to protect the public health and safety and are a valid excuse of the states police power |
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City and county master plans |
A master or comprehensive plan to control the long term use of their land |
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Zoning laws |
Building permit be acquired before building a structure |
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Variance |
Granted if a property owner can prove zoning creates hardship due to unique circumstances |
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Nonconforming use |
One that is inconsistent with and doesn’t conform to the current zoning ordinances |
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Spot zoning |
Is said to exist when the zoning for a small area differs greatly from the zoning of adjoining ares |
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Downzoning |
Involves a change in zoning from a higher more active category to a lower less active category |
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Bulk zoning |
To control density by restrictions on setback lines, building height, and percentage of open areas |
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Buffer zone |
Strip of land used to set aside two types of land use that are not compatible |
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Conditional use zoning |
Issuance of a zoning permit that allows a use that is not in compliance with the surrounding zoning |
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Restrictive covenants |
Restrict use of real property Usually are contained in deed or the lease agreement Most common method of enforcement: injunction |
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Deed restrictions |
Established by a subdivisions original developer are the most commonly encountered restrictive covenants |
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Laches |
A equitable doctrine that bars a person from acting against another if the complaints are delayed |
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Setback |
The distance from the street to the front of any improvement on the property |
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Zoning ordinances |
The document that determines what type of improvements you can build in a certain area is: |
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Zoning estoppel |
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Cooperative ownership |
Composed of single units in a multi-unit estate development Title to land and units held by corporation, partnership, or land trust |
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Proprietary leases |
Tenant is an owner by virtue of his stock ownership in the corporation No rent amount that’s fixed, just pays a monthly assessment |
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Condominium ownership |
Composed of single units in a multi-unit real estate development |
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Air lots |
Units in a condominium |
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Common areas |
Include the land which the building is on, the shell of the building, or any area owned by the tenants-in-common |
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Condominium instruments |
Create condominiums |
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Public offering statements |
Disclosures the characteristics of the condominium and the units offered and unusual circumstances or features affecting it |
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Interval ownership pls |
Time shares may be acquired this way Purchaser owns title in fee simple as a tenant-in-common with other owners |
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Planned unit developments (PUDs) |
High density of units on small lots to max open spaces Can be commercial or industrial |
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Density zoning |
Restrict the average max number of houses per acre in a subdivision |
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Land use intensity (LUI) |
System of analyzing the land use that has become an increasingly important tool in the development of PUDs |
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Horizontal property act |
Condominium ownership is regulated by state laws that in some states are called “condominium act” and in other states are called this |
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Alienation |
Any type of transfer of ownership of real property Involuntary alienation: adverse possession or interstate succession |
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Alienation |
Any type of transfer of ownership of real property Involuntary alienation: adverse possession or interstate succession |
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Voluntary alienation |
Occurs by means of deeds, wills,dedications, and public grants |
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Deed of conveyance __—==‘’’’ |
Most common method of acquiring title to real property and is a written instrument used to transfer title voluntarily |
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Will |
Written instrument to transfer title of property to another after the writer dies |
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Dedication 🛝 ☀️🌾⛹️ |
Free transfer of private property of owned land to government under the condition that it’ll be used for public purposes |
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Public grant |
Transfer of the title from the government to an individual |
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Involuntary alienation |
Not voluntary giving property up |
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Decent and distribution |
Acquisition of an estate by inheritance when an heir succeeds to the property by law |
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Intestate succession |
Property who is owned by someone who has died and has no will will get distributed to heirs |
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Adverse possession 😬 |
Acquisition of title to real property by means of hostile and continuous possession for a statutory period of time Steal land by taking care of it |
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Unintentional dedication of land for public use |
Many property owners who allow public access to, or through, their private property will erect barriers a regular intervals just to evidence the fact that the public right to use the property is licensed and not a right public right to use the property is merely a license and not a right or interest in the property itself. Some Permission to Use is Revocable." Usually "No Trespassing" signs are insufficient to prevent a claim |
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Unintentional dedication of land for public use |
Many property owners who allow public access to, or through, their private property will erect barriers a regular intervals just to evidence the fact that the public right to use the property is licensed and not a right |
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Title by accession |
Acquisition of additional land and/or improvements under unusual circumstances |
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Accretion and alluvion |
property owner loses land by the erosion 1. The new land carried to his property 2.
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Title to estoppel |
Legit principle whereby a person my obtain a title to real property over the apparent owner bc they have failed to put everyone on notice to his rights to the property |
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Foreclosure |
From unpaid debts |
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Condemnation suit |
Results in involuntary alienation of real property through eminent domain |
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testate succession |
The way heirs or devisees take the title by will |
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Intestate succession |
How people get real estate from people who die without a will |
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Title to estoppel |
Legit principle whereby a person my obtain a title to real property over the apparent owner bc they have failed to put everyone on notice to his rights to the property |
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Foreclosure |
From unpaid debts |
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Condemnation suit |
Results in involuntary alienation of real property through eminent domain |
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testate succession |
The way heirs or devisees take the title by will |
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Intestate succession |
How people get real estate from people who die without a will |
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Probate |
Probate 💀 |
Legal process by which a court reviews the distribution of a diseased person’s estate |
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Executor |
Person named in the will who carries out the wishes of the testator |
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Title to estoppel |
Legit principle whereby a person my obtain a title to real property over the apparent owner bc they have failed to put everyone on notice to his rights to the property |
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Foreclosure |
From unpaid debts |
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Condemnation suit |
Results in involuntary alienation of real property through eminent domain |
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testate succession |
The way heirs or devisees take the title by will |
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Intestate succession |
How people get real estate from people who die without a will |
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Probate |
Probate 💀 |
Legal process by which a court reviews the distribution of a diseased person’s estate |
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Executor |
Person named in the will who carries out the wishes of the testator |
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Administrator |
Person appointed by court to carry out the terms in the will in the event of no executor |
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Testator |
(Maker or the will) |
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Devise |
Gift of real property by will |
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Codicil |
Modification of or addition to an already existing will |
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Req to make a deed |
Back (Definition) |
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Who signs the deed |
Only the grantor not the grantee |
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Front (Term) |
Info |
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Reservation |
Right retained by grantor |
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Exception |
When grantor retains fee title to a part of the land Grantor expects a portion of property to himself |
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Deed restriction |
Imposed by original developer |
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What must the grantor do to the deed |
Must sign. |
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Reservation |
Right retained by grantor |
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Exception |
When grantor retains fee title to a part of the land Grantor expects a portion of property to himself |
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Deed restriction |
Imposed by original developer |
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What must the grantor do to the deed |
Must sign. |
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Deed must be ____ delivered by grantor and ____ by grantee |
Delivered, accepted |
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Acknowledgment |
Declaration made before an authorized officer by person who is voluntarily signing a formal written document |
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Reservation |
Right retained by grantor |
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Exception |
When grantor retains fee title to a part of the land Grantor expects a portion of property to himself |
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Deed restriction |
Imposed by original developer |
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What must the grantor do to the deed |
Must sign. |
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Deed must be ____ delivered by grantor and ____ by grantee |
Delivered, accepted |
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Acknowledgment |
Declaration made before an authorized officer by person who is voluntarily signing a formal written document |
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Covenants in deed |
Restrict alienation or conveyance |
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Covenant of seisin |
A promise by the grantor to grantee that the grantor has the estate of title in the quality and quantity that he claims |
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Covenant of quiet enjoyment |
Grantors assurance that the grantee should enjoy the property in peace |
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Covenant against encumbrances |
Grantors guarantee that there are no encumbrances against the property except those that are specifically disclosed |
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Covenant of warranty |
Forever assures the grantee of possession and continuance of the title transferred to the grantee |
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Covenant of further assurance |
Grantors promise to do such further acts as might be required in the future to guarantee it perfect the title of the grantee |
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Covenant against grantors acts |
Used in special warranty deeds in which the grantor is a fiduciary such as a executor, trustee, or guardian |
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Premises clause |
Granting clause |
Granting clause. Contains words of conveyance, states names of the parties involved, extent of ownership, recites the consideration, and legally describes the property |
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Premises clause |
Granting clause. Contains words of conveyance, states names of the parties involved, extent of ownership, recites the consideration, and legally describes the property |
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Habendum clause |
The “to have and to hold clause” that follows the granting clause and indicated the type of estate or interest the deed is conveying |
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General warranty deed |
Conveyance by which the grantor fully warrants, or guarantees, clear title to the real estate being sold Offers greatest possible protection to the grantee |
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Special warranty |
Deed is a conveyance by which the grantor guarantees the title has no defects only under his ownership |
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Bargain and sale deed |
A conveyance by which the grantor conveys property but doesn’t agree to warrant or defend the title in any way |
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Quitclaim deed |
Grantor transfers and releases any interest he might have in the property. Doesn’t agree to defend or warrant the quality of title Used frequently to clear up clouds on a title |
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Correction deed |
Any type of deed used to correct a mistake in a prior deed |
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Deed of trust (trust deed) |
Used to covey title to a third party trustee to be held as security for a debt |
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Deed IN trust |
Conveys real property to a trustee. Usually done to create land trust. Trustee has power to sell, mortgage, or subdivide |
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Guardian’s deed |
Executed on behalf of a person who lacks legal capacity to convey title |
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Deed in foreclosure |
When property is sold to pay taxes. This deed is used to convey real property in a court ordered sale |
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Deed in foreclosure |
When property is sold to pay taxes. This deed is used to convey real property in a court ordered sale. Equivalent to special warranty deed |
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Deed in partition |
Used by court when a property is sold at a partition sale for the purpose of doing a joint tenancy or tenancy in common ownership |
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Patent deed 🇺🇸 |
Deed used to convey title to real estate from the US gov to an individual |
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