2021-07-31T08:01:26+03:00[Europe/Moscow] en true homestead, fee simple estate, Severalty , A portion of W's building was inadvertently built on G's land. This is called an, Many states determine the order of water rights according to which users of the water hold a recorded beneficial use permit. This allocation of water rights is determined by, The purchase of a ticket for a professional sporting event gives the bearer an easement right to park his car , Which of the following has an indefinite duration?, the privilege to use another's land for a specific purpose. Because it has been given it can be rescinded, If the owner of the dominant tenement becomes the owner of the servient and merges the two properties, a the easement becomes dormant, A decedent left a will giving his neighbor the right to use a well on the decedent's land as long as the neighbor was alive. The neighbor's interest in the property is properly called a(n), Homeowner G acquired the ownership of land that was deposited by a river running through her property by, A life estate conveys to the life tenant, J conveyed the ownership of the lot to the hospital "So long as it is used for medical purposes." After the completion of the gift, the hospital will own a, The most all-inclusive type of real property ownership is a, The rights of the owner of property located along the banks of a river are called, The local utility company dug up F's garden to install a natural gas line, Is a Dower Estate a leasehold estate? , What are the three types of Leasehold estates ? , Creditors suing a homeowner who has obtained a homestead exemption as provided by state law, What type of Ownership are Leasehold estates? , A trust that is established after the death of the owner is called a, PITTS for Joint tenancy , Compensation damages for Eminent Domain, Tenancy in common is: , An investors personal assets could be liable for which corp? , How many investors can be in a single s-corp , Tenancy in common rights - , Net lease , Planned Unit Development (PUD) , When would a lessee have a proprietary lease? flashcards
Royse Chapter 2

Royse Chapter 2

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  • homestead
    A statutory right that a family has in its residence is
  • fee simple estate
    A person who has complete control over a parcel of real estate is said to own a
  • Severalty
    Real Property owned by one person
  • A portion of W's building was inadvertently built on G's land. This is called an
    encroachment.
  • Many states determine the order of water rights according to which users of the water hold a recorded beneficial use permit. This allocation of water rights is determined by
    the doctrine of prior appropriation.
  • The purchase of a ticket for a professional sporting event gives the bearer an easement right to park his car
    a license to enter and claim a seat for the duration of the game
  • Which of the following has an indefinite duration?
    Freehold estate
  • the privilege to use another's land for a specific purpose. Because it has been given it can be rescinded
    License
  • If the owner of the dominant tenement becomes the owner of the servient and merges the two properties, a the easement becomes dormant
    the easement is terminated
  • A decedent left a will giving his neighbor the right to use a well on the decedent's land as long as the neighbor was alive. The neighbor's interest in the property is properly called a(n)
    life Estate
  • Homeowner G acquired the ownership of land that was deposited by a river running through her property by
    accretion.
  • A life estate conveys to the life tenant
    ownership for life.
  • J conveyed the ownership of the lot to the hospital "So long as it is used for medical purposes." After the completion of the gift, the hospital will own a
    fee simple determinable
  • The most all-inclusive type of real property ownership is a
    fee simple estate
  • The rights of the owner of property located along the banks of a river are called
    riparian rights
  • The local utility company dug up F's garden to install a natural gas line
    The easement was valid even though the owner did not know about it
  • Is a Dower Estate a leasehold estate?
    No is a Life Estate
  • What are the three types of Leasehold estates ?
    Estate at Years, Estate at Will and Estate at sufferance
  • Creditors suing a homeowner who has obtained a homestead exemption as provided by state law
    may request a court-ordered sale and have the proceeds in excess of the statutory exemption
  • What type of Ownership are Leasehold estates?
    Leases
  • A trust that is established after the death of the owner is called a
    testamentary trust
  • PITTS for Joint tenancy
    Possession, Interest, time title and survivorship
  • Compensation damages for Eminent Domain
    severance damages
  • Tenancy in common is:
    a mirror image - both can keep will sell
  • An investors personal assets could be liable for which corp?
    a general partnership
  • How many investors can be in a single s-corp
    Limit is 100
  • Tenancy in common rights -
    Each can keep, will sell, Mirror Image ( no "S"_ no survivorship)
  • Net lease
    periodic increases in rent and lessee pays for taxes and upkeep of property (generally commercial)
  • Planned Unit Development (PUD)
    Owners own unit and land, HOA mandatory and maintains commons, Dues
  • When would a lessee have a proprietary lease?
    In a co-op, gives lessee a right to occupy a unit