Test Bank for Real Estate Principles: A
Value Approach: Chapter 2 4th Edition
by Valerie D. Thompson
Assessment Lien - ANSAutomatically assessed lien incurred from improvements that the
property receives benefit from.
Attach - ANSPlace a lien on.
Community Development District Lien - ANSAttached to properties within a private community
for improvements within that community.
Community Property - ANSSpousal claim to half of property acquired while married.
Condominium - ANSOwnership through tenancy in common whereby the person has a fee
simple interest in a separate space while also sharing community areas with other tenants.
Condominium Bylaws - ANSRules enacted by the mini-government that oversees the
condominium.
Condominium Declaration - ANSMaster deed that creates a condominium.
Cooperative - ANSA proprietary corporation where multiple parties have a "proprietary lease" on
a given space.
Declaration of covenants - ANSUsed to control land use within a subdivision, often sets limits
with the goal of improving perceived quality, stability and value of the lots.
Deed restriction - ANSAn individual restriction that can only be enforced by the owner of the
restriction or their heirs.
Dominant parcel - ANSLocation that benefits from an easement.
Dower - ANSCommon law ruling where a widow gets 1/3 of her husband's property as long as
she did not join in conveying the property to a new owner.
Easement - ANSthe right to use land for a specific and limited purpose
Easement appurtenant - ANSEasements that have adjacent dominant and servient parcel.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller AllLegitExams. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
