Unit 4

An elderly man left the family home to his second wife with the provision that when she dies, the home goes to a son by his first wife. The second wife owns a bundle of rights but does not own the right to...

.... Will the property. The second wife owns a life estate, and she has the entire bundle of rights except the right to will the property.

A man conveyed a one-acre parcel of land to a preschool. In the deed, the man stated that the property was to be used only as a playground; the man reserved a right of reentry. What kind of estate has the man granted?

A Fee simple subject to a condition subsequent

n some states, a husband cannot sell his property unless his wife also signs the deed. The wife's interest is called A

Dower's rights

Two types of legal life estates are

Downer and Curtesy

For as long as anyone can remember, neighbor families have used a footpath to get to the river. Recently, the current owner erected a fence across the path. Which of these easements might the neighbors claim, which would require him to remove the fence?

Easement by prescription

The electric company has the right to extend its wires over 50 parcels of land. What right does the electric company have?

Easement in gross

If the government acquires privately owned real estate through a condemnation suit, it is exercising its power of

Eminent Domain

Which of these is defined as a claim, charge, or liability that attaches to real estate?

Encumbrance

True or False A freehold estate is the highest interest in real estate recognized by law.

False, A freehold estate lasts for an indeterminable length of time; a fee simple absolute estate is the highest interest in real estate recognized by law.

True or False The purpose of escheat is to expand governmental property holdings.

False, Escheat is a process by which the state acquires privately owned property when it has become ownerless. For example, when an owner dies and leaves no heirs and there is no will.

True or False: An easement that arises when an owner sells property that has no access to a street or public way except across the seller's remaining land is an easement by prescription. True

False. An easement that arises when an owner sells property that has no access to a street or public way except across the seller's remaining land is an easement by necessity.

True or False The concept of tacking provides that successive periods of discontinuous occupation by a different party may be combined to reach the required total number of years necessary to establish a class for an easement in gross.

False. The concept of tacking provides that successive periods of continuous occupation by different parties may be combined to reach the required total number of years necessary to establish a claim for an easement by prescription.

True or False: If the grantor is silent about what happens to property after a life estate ends, the grantor has a remainder interest in the property.

False. When the creator of a life estate chooses not to name a remainderman, ownership returns to the original owner upon the end of the life estate.

A woman died in a nursing home. She had outlived all of her heirs and had not written a will. What happens to her $250,000 estate?

It escheats to the state or county.

Real estate taxes, mortgages, judgments, and mechanics' all represent possible __ against an owner's real estate

Liens

A man files a notice in the public record of pending litigation affecting the title to a property. This notice reflects which of these?

Lis pendens

What are deed restrictions?

Private agreements affecting the use of the land

The state requires enough land to build a four-lane highway. For the state to acquire the needed land, the state must do all of these EXCEPT

Reimburse the property owner for the amount that the property owner paid for the land, To acquire private property through eminent domain, the state must prove that the purchase is for public good, pay a fair price, and allow the property owner full rights to appeal. The price may or may not reflect what the owner had actually paid for the property.

If the dominant estate merges with the servient estate, which of these is TRUE?

The easement is terminated., the owner of the dominant tenement also becomes owner of the servient tenement (or vice versa), the easement terminates. Because the same person owns both properties, there is no need for the easement to exist.

The homestead exemption in a town is $15,000. Four years ago, a man purchased a home for $58,000 and then experienced hard times. At a court-ordered sale, the man's property is purchased for $60,000. If the man has an outstanding mortgage balance of $35,000 and credit card debts amounting to $24,360, how much is protected by the homestead exemption?

The homestead exemption is $15,000. So, when the property is sold for $60,000, the mortgage of $35,000 is paid and $15,000 is reserved, leaving $10,000 for the credit card debt.

True or False A homestead is a legal life estate in real estate occupied as a family home.

True

True or False: An easement appurtenant is attached to the ownership of real estate and allows the owner of that property the use of a neighbor's land.

True

True or False: A state's power to enact legislation that preserves order, protects the public health and safety, and promotes the general welfare is called its police power.

True

True or False: The four governmental powers that affect real estate are taxation, eminent domain, escheat, and police.

True

True or false A license may be terminated or canceled by the owner of the property, and a license ends on the death of either party or the sale of the affected property by the licensor.

True

True or False: The process by which the government exercises its right to acquire privately owned real estate for public use through either judicial or administrative proceedings is called condemnation.

True, Eminent domain is the right of the government to acquire privately owned real estate for public use; condemnation is the process by which the government exercises this right.

True or False While it does not have a physical effect on property, a lis pendens creates a "cloud on the title" to the property.

True. A lis pendens is a notice filed in the public record of pending litigation affecting title to the property. This "cloud on the title" may prevent the property from being sold or further encumbered.

what must exist for an appurtenant easement to exist?

Two adjacent parcels, different owners

Every workday for the past 20 years, a woman has parked her car in a specific place in the nearby parking garage. Today, she receives a notice that the garage will be replaced by an office building. Can they do this to her after all the years she parked there?

Yes, because she only has a license

A property owner gave land to a school "so long as the land is used for only academic and recreational purposes." The ownership interest granted here is called A

a fee simple determinable.

Covenants, conditions, and restrictions (CC&Rs) are use by

a subdivision developer to maintain specific standards in a subdivision.

A man owns a large undeveloped parcel of land on the side of a hill. The property borders a road on the lower edge. The owner sells the lower portion of the property to a woman, and she builds a home on it. Several years later, the owner sells the upper-portion of the property to another man. This man's property does not border any road. For this man to gain access to the road, he must claim by implication of law an easement

by necessity

The state's authority to enact legislation to protect the public is passed through to municipalities and counties through A)

enabling acts.

The holder of a life estate is called

life tenant

A man owned two acres of land. He sold one acre to a woman and reserved an easement appurtenant for entrance and exit over her acre to reach the public road. The woman's land is

the servient tenement.