Barney Fletcher Real Estate Exam Study Guide Solutions
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Course
Barney Fletcher
Institution
Barney Fletcher
Barney Fletcher Real Estate Exam Study
Guide Solutions
Assemblage - ANSWER-combining two or more contiguous parcels of real estate into a single parcel
under one ownership
plottage - ANSWER-an increase in value resulting from assemblage
fixture - ANSWER-personal property that is permanently at...
allodial system - ANSWER✔✔-individuals are able to own land
eminent domain - ANSWER✔✔-right of govs to assume property for necessary public use
escheat - ANSWER✔✔-power the gov has when someone dies intestate and leaves no known heirs
PETE - powers of gov over title - ANSWER✔✔-police power, eminent domain, taxation, escheat
encroachment - ANSWER✔✔-unauthorized infringement on a property owners rights as a result of
physical intrusion
freehold estate - ANSWER✔✔-highest and most complete form of ownership
seisin - ANSWER✔✔-possession of freehold estate
qualified fee estate - ANSWER✔✔-a fee simple estate that has certain limitations / qualifications
- owner holds fee simple title
defeasible - ANSWER✔✔-capable of being voided/defeated
life estate - ANSWER✔✔-fee simple estate that is conveyed to a person for the duration of their life
remainder estate - ANSWER✔✔-future interest in real estate created at same time and by same
instrument as other state
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