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Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
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Fixture Tests
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1) Method of Attachment
2) Adaptation to Property
3) Written Agreement
4) Relationship of Parties
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Government Rights
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Police Power
Eminent Domain
Taxation
Escheat
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Freehold Estate Interests
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Ownership
Possessory
Indeterminate Duration
Title
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Leasehold Estate Interests (4)
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1) Estate for years
2) Estate at will
3) Estate from period to period
4) Estate at sufferance
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Estates in Land (2)
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1) Freehold
2) Leasehold
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Types of Freehold Estates
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Fee Simple Absolute
Fee Simple Defeasible (Qualified Fee)
Life Estate
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Characteristics of a Life Estate
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1) Possessory
2) Indeterminate Duration (As long as the measurinng life continues)
3) Title (Subject to rights of remainderman or reverter)
4) Lease or Transfer (Valid until the end of the measuring life)
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Types of Liens (4)
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Government Property Liens (Specific)
Mechanic's or construction Lines (Specific)
Morgage Liens (Specific)
Judgement Liens (General)
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General vs. Specific Lien
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Specific Lien: Attaches to a specific piece of property.
General Lien: Attaches to all property a debtor owns.
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Mortgagor
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Borrower
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Mortgagee
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Lender
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Statute of Frauds
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All transfers of an interest in real estate must be in writing except a lease of 12 months or less.
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Escheat
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Reversion of the property to the state after a person dies intestate and no heirs can be located.
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