Real Estate University | S3 | Chapter 3

The land benefiting from an easement is known as the...?

Dominant tenement

A right, privilege or interest limited to a specific purpose which one party has in the land of another is referred to as a/an...?

Easement

This exists when a landowner has no access to roads and is landlocked...?

Easement by necessity

A utility easement is an example of a/an...?

Easement in gross

An estate arising when the tenant wrongfully holds over after the expiration of the term is known as a/an...?

Estate at sufferance

An estate which vests after the termination of the prior estate is known as a/an...?

Estate in remainder

Property or estate ownership that reverts back to the grantor after a temporary ownership period is known as a/an...?

Estate in reversion

An easement created by a deed or by a will is known as a/an...?

Express easement

An easement may be terminated by what 3 means...?

Express termination, Termination by estoppel, and Termination by prescription

True or False: Easements do not run with the land...?

False

This is an inheritable estate in land providing the greatest interest of any form of title...?

Fee simple absolute

An estate of indeterminable duration is known as a/an...?

Freehold estate

A lien on all the property of a debtor is known as a/an...?

General lien

A lien imposed against a property without the consent of the owner is known as a/an...?

Involuntary lien

Which of the following provides the right of possession and control but not title...?

Leasehold estate

A person to whom property is rented under a lease is referred to as the...?

Lessee

One who rents property to another under a lease is known as the...?

Lessor

This is a form of encumbrance which usually makes specific property security for the payment of a debt or discharge of an obligation...?

Lien

A freehold estate created for the duration of the life or lives of certain named persons is known as a/an...?

Life estate

A lease that automatically renews for successive periods unless terminated by either party is known as a...?

Periodic tenancy

An estate from year to year is also known as...?

Periodic tenancy

Land encumbered by an easement is referred to as the...?

Servient tenement

A lien that attaches to one specific property only is known as a/an...?

Specific lien

Which 3 things is an example of an involuntary lien...?

Tax lien, Mechanic's lien, and Judgment lien

Which of the following exists without a contract or lease, and is unspecific in duration or the exchange of payment...?

Tenancy at will

True or False: A leasehold estate is an example of a non-freehold estate...?

True

True or False: A life estate is a non-inheritable estate...?

True

True or False: A mortgage lien is an example of a voluntary lien...?

True

True or False: Involuntary liens are also known as statutory liens...?

True

This is a legal device whereby one person transfers ownership of property to someone else to hold or manage for the benefit of a third party...?

Trust