Chapter 3

Ownership by only a single individual is known as what...?

Severalty

Ownership of real property by a married couple in which interests cannot be transferred without the consent of the other spouse is known as

Tenancy by the Entirety

Undivided Interest

The interest in property owned by tenants whereby each tenant has an equal right to enjoy the entire property.

Dower

The part of or interest in real estate of a deceased husband given by law to his widow during her life.

Escheat

The reversion to the State of property in event the owner thereof abandons it or dies, without leaving a will and has no distributees to whom the property may pass by lawful descent.

Riparian Rights

The right of a property owner whose land borders a natural water course, such as a river, to reasonable use and enjoyment of the water that flows past the property. Riparian literally means "riverbank".

Littoral Rights

The right of a property owner whose land borders on a body of water, such as a lake, ocean or sea, to reasonable use and enjoyment of the shore and water the property borders on.

The interest in property owned by tenants whereby each tenant has an equal right to enjoy the entire property is known as what...?

Undivided Interest

Curtesy

A husband's interest upon the death of his wife in the real property of an estate that she either solely owned or inherited provided they bore a child capable of inheriting the estate.

Trustor

A person who conveys title to a trustee.

Fee Simple Estate

Absolute ownership of real property; a person has this type of estate where the person is entitled to the entire property with unconditional power of disposition during the person's life and descending to the person's heirs or distributes.

A cause of action that can be brought in court to address a change in condition of a property brought about by a current tenant that damages or destroys the value of that property is known as what...?

Act of waste

Local zoning ordinances often regulate the development of these types of land rights...?

Air Rights

Tenancy in Common

An ownership of real property by two or more persons, each of whom has an undivided interest, without the "right of survivorship".

Which of the following is NOT an economic characteristic of real property...? A Architectural Design B Immobility C Supply and Demand D Location

Architectural Design

An estate which the tenant holds his own right, without being joined in interest with any other person is known as___

Estate in Severalty

In this type of estate, the owner is entitled to the entire property with unconditional power of disposition during the owner's life and descending to the owner's heirs or distributees...?

Fee Simple Estate

A fee simple estate is also known as....?

Fee simple absolute

Which of the following is an economic characteristic of real property...? A Immobility B Uniqueness C Architectural Design D Permanence

Immobility

Severalty

Ownership by only a single individual.

A piece of land under one ownership is known as what...?

Parcel