Easement by prescription - Study guides, Class notes & Summaries

A client has purchased a plot of land from a seller. The plot forms part of the garden to the seller's house. The seller told the client that they built their house ten years ago and that they intended to continue living in the house (the "retained land") following the sale of the plot to the client. The client has now decided that she wants to construct a dwelling house on her plot but she has discovered that drains serving the seller's retained land run across the plot. The seller has r...

Accretion The addition to real estate by accumulation of soil and land through nature. Accrued Depreciation Loss in value of a property due to time. Difference of replacement cost and the presently appraised value. Acre 43,560 Sq Ft Actual Notice Notifying person of an existing property by showing documents or other physical evidence. Ad Valorem According to value. (Latin) Master01 |Excellent Study Material| Latest update 1 | P a g e | © copyright Master01| Grade A+ Admin...

FINAL EXAM - Real Estate Principles acWhen discussing the concept of total square footage with your client, what is the BEST way to describe how the total square footage is measured? A. Total area of the property measured from the inside walls of the home. B. Total Area Under Roof (TAUR) C. Measure all square footage of included real property, including both attached and detached structures. D. Living area square footage only. - ANSWER Correct!! Answer: Total Area Under Roof (TAUR) ...

Real Property - The legal interests in land and things attached to, or growing on land. Personal Property - Referred to generally as chattel, the rights, powers, and privileges a person has in things that are not real property, may be transferred by sale, gift, or will. Chattels Real - An interest in land, such as a leasehold. Chattels Personal - Moveable personal property. Chattel Personal in Action - Something to which one has a right to possession, but concerning which one which m...

Easement by prescription - ANSWER Easement acquired by continuous open and hostile use of the property for the period of time prescribed by state law Easement by necessity - ANSWER Easement allowed by law as necessary for the full enjoyment of parcel of real estate .(right of ingress and egress over a grantors land) Rescission - ANSWER The practice of one party canceling or terminating a contract. Mortgagee - ANSWER The bank(receiving the house) Tax prorations - ANSWER Taxes are paid...

Florida Real Estate Final Exam (Latest 2023/ 2024 Update) Questions and Verified Answers| 100% Correct| Already Graded A Q: For all intents and purposes, subagents are agents of the _______. Answer: a. Buyer b. Seller c. The buyer's broker d. The listing broker b. Although a subagent may bring an unrepresented buyer to the transaction, the subagent is an agent of the seller. Q: Can a new licensee specialize in the sale of farm and ranch property? Answer: a. Not until...

Nebraska Real Estate SAMPLE Test Questions with 100% Correct Answers The earth's surface extending downward to the center of the earth and upward into space, including all things permanently attached, is known as: A) Real Property B) Real Estate C) Land D) A bundle of legal rights - Answer- D) A bundle of legal rights Moveable objects, which are not considered real estate, are known as: A) Real property B) Personal property C) Fixtures D) Emblements - Answer- B) Personal Property T...

A lien is an example of a/an...? - Encumbrance - Entitlement - Estoppel - Escheatment Encumbrance If a property has both a tax lien and a mortgage lien against it, which lien has priority (generally speaking)? - Tax lien - Mortgage lien - They have equal priority - Whichever lien was filed first Tax lien A lien that is not tied to a specific piece of real estate is called a...? - General lien - Non-specific lien - Statutory lien - Tax lien General lien T...

Texas Principles of Real Estate 1 (2023/ 2024) Exam | Guide with Questions and Verified Answers| 100% Correct Q: curtsey rights Answer: right a husband has to his wifes estate upon her death Q: fee simple defeasable Answer: a gift of land by a person or GRANTOR Q: Life Estate Answer: an estate in land for the duration of someones life (always a gift of land/ real estate) Q: Homestead Answer: Texas is a Homestead State. The property that you own an...

Real Estate U Test Which of the following leasehold estates is open-ended, as it does not have a termination date? - CORRECT ANSWER Estate at will Which of the following types of easements is obtained by a squatter who uses another's property without the owner's permission - CORRECT ANSWER Easement by prescription In order to obtain an easement by prescription, for how many years must the property by used by the dominant tenement - CORRECT ANSWER 10 years Which of the follo...