front 1 Fee Simple | back 1 The highest interest in real estate recognized by law in which the holder is entitled to all rights to the property |
front 2 Reversionary Interest | back 2 Ownership goes back to the original owner upon the end of the life estate |
front 3 Life Estate | back 3 A freehold estate limited in duration to the life of the owner or the life of some other designated person or persons |
front 4 Remainder interest | back 4 The person named by the creator of a life estate to receive the property when the life estate ends |
front 5 Freehold estates last for a specified length of time, such as one year. | back 5 false |
front 6 Unlike other freehold estates, a life estate is not inheritable. It passes to future owners according to the provisions of the life estate. | back 6 true |
front 7 Does Bernardo have the right to use Debra's driveway? | back 7 No, because the easement he gave to Marissa is no longer valid. |
front 8 What should Bernardo have done to have the right to use Debra's driveway? | back 8 Reserved an easement right over the original property when he sold it to Debra |
front 9 What is Bernardo's BEST recourse at this point? | back 9 Build a new driveway that is on the property he now owns. |
front 10 Encumberance | back 10 a claim, charge, or liability that attaches to real estate, and may or may not be monetary |
front 11 deed restrictions | back 11 Private rule that limits the use of the property and is binding on all future grantees |
front 12 easment | back 12 The right to use the land of another for a particular purpose, including the airspace above or a right-of-way across the land |
front 13 lien | back 13 a charge against property providing security for a debt or an obligation of the owner |
front 14 License | back 14 a personal privilege the enter the land of another for a specific purpose; differs from an easement in that it can be terminated or canceled |
front 15 An encumbrance is not an estate, so it does NOT allow possession. | back 15 True |
front 16 Covenants, conditions, and restrictions (CC&Rs) are police powers that affect land use. | back 16 False |
front 17 Escheat | back 17 Transfer to the state when an owner dies and no heir can be found |
front 18 Police power | back 18 Zoning, Building codes |
front 19 Eminent domain | back 19 Taking private land through condemnation |
front 20 Escheat is a process by which the state may acquire privately owned real or personal property. | back 20 True |
front 21 Condemnation is the right of the government to acquire privately owned real estate for public use. Eminent domain is the process by which the government exercises this right, by either judicial or administrative proceedings. | back 21 False |
front 22 The government's authority to appoint local citizens to serve on boards to govern compliance with zoning standards and building codes for their communities is an example of | back 22 police power |
front 23 In order to prevent property from being ownerless or abandoned, the government acquires property through the process of | back 23 escheat. |
front 24 An encroachment describes improvements that | back 24 extend over adjoining lot lines. |
front 25 State environmental protection laws are examples of | back 25 police power. |
front 26 The process whereby the government acquires privately owned property for public use is | back 26 condemnation. |
front 27 Because a homeowner failed to pay the real estate taxes on time, the taxing authority imposed a claim against the homeowner's property. This claim is known as | back 27 a lien. |
front 28 An owner conveys ownership of a residence to a church but reserves a life estate in the residence. The future interest held by the church is | back 28 a remainder. |
front 29 A life estate that is not created by a property owner is | back 29 the legal life estate. |
front 30 The new owner of a property installs a fence on the property. By mistake, the fence extends one foot over the lot line onto a neighbor's property. The fence is an example of | back 30 an encroachment. |
front 31 A homestead exemption protects the property owner entitled to the exemption from | back 31 judgments for debts, but not those used to purchase or improve the homestead property. |
front 32 A property on Main Street that was formerly a retail store will become the site of a new city hall, made possible by the government's power of | back 32 eminent domain. |
front 33 Which of the following is NOT an encumbrance on real estate? | back 33 Fixture |
front 34 A landowner has divided a large parcel of land into smaller parcels and has recently sold a tract near a nature preserve that is landlocked and cannot be entered except through one of the other tracts. The buyer of that property will probably be granted what type of easement by court action? | back 34 Easement by necessity |
front 35 An easement appurtenant | back 35 runs with the land. |
front 36 After negotiation and payment, the owner of a lot has granted a neighbor an easement, which was recorded. All of the following are true of the easement EXCEPT | back 36 it can be revoked. |
front 37 The city wants to acquire private land for a park. The city can obtain the land by paying fair value under the right of | back 37 eminent domain. |
front 38 A parcel of land that has no direct access to a street or public way, except over land of its previous owner, will benefit from | back 38 an easement by necessity. |
front 39 A homestead is a legal life estate in real estate that is | back 39 occupied as the family home. |
front 40 The owner of fee simple title to a vacant lot adjacent to a hospital decided to make a gift of the lot to the hospital. The deed conveyed ownership of the lot to the hospital "so long as it is used for hospital purposes." After completion of the gift, the hospital will own | back 40 a fee simple determinable. |
front 41 A property owner dies without a will or lawful heirs. By what process does the property revert back to the government? | back 41 escheat |
front 42 Which of the following is NOT a governmental power? | back 42 Condemnation |
front 43 A person has permission from a property owner to hike on the owner's property during the autumn months. The hiker has | back 43 a license. |