Barney Fletcher Real Estate Exam Questions And Answers
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Barney Fletcher
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Barney Fletcher
Barney Fletcher Real Estate Exam Questions
And Answers
which type of land description are the properties described as they relate to meridians
government / rectangular survey
alienation of title any change of ownership - transferring ownership rights or interests in
real property from one ...
Barney Fletcher Real Estate Exam Questions
And Answers
which type of land description are the properties described as they relate to meridians
government / rectangular survey
alienation of title any change of ownership - transferring ownership rights or interests in
real property from one person to another
legal title right of ownership of a parcel of real property held by an owner
equitable title interest in a piece of real estate held by a buyer held under a contract to
obtain absolute ownership of the property at a future date
bare legal title lacks the usual rights and privileges associated with ownership
constructive notice information has been made available to the public
inquiry notice when factors exist that make someone inquire further
ex. dirt road running across you would inquire whether there is an easement in place
,Barney Fletcher Real Estate Exam Questions
And Answers
marketable title a title free from reasonable doubt as to who the owner is
abstract of title detailed report of the title search
torrens system an owner petitions the state court to register his property
transfer of land
allodial system individuals are able to own land
eminent domain right of govs to assume property for necessary public use
escheat power the gov has when someone dies intestate and leaves no known heirs
PETE - powers of gov over title police power, eminent domain, taxation, escheat
,Barney Fletcher Real Estate Exam Questions
And Answers
encroachment unauthorized infringement on a property owners rights as a result of
physical intrusion
freehold estate highest and most complete form of ownership
seisin possession of freehold estate
qualified fee estate a fee simple estate that has certain limitations / qualifications
- owner holds fee simple title
defeasible capable of being voided/defeated
life estate fee simple estate that is conveyed to a person for the duration of their life
remainder estate future interest in real estate created at same time and by same instrument
as other state
, Barney Fletcher Real Estate Exam Questions
And Answers
statutory estate any state created by the law/ gov
Non-freehold estates for years, year to year, at will, sufferance
for years definite beginning and definite end
year to year indefinite number of time periods
ex. month to month or week to week rental
at will when a tenant in lawful possession with no definite time specified as to when he
may vacate
sufferance when a tenant occupies real estate after his lawful rights have run out
- goes until tenant vacates or landlord takes action
- termination doesn't require notice
laches stops a person from acting against another if they dont do it in a set amount of time
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