Category 1
Legal action intended to establish or settle the title claim to a particular property
What is a Suit to Quiet Title?
This notice renders a property unmarketable because it means that litigation is pending
What is Lis Pendens?
The open, notorious, hostile, and continuous use of another's property for a statutory time, which may allow the squatter to claim the property
What is adverse possession?
Court decision on the respective rights and claims of the parties of a lawsuit
What is a judgment?
Highest form of ownership recognized by law; for an indefinite duration, freely transferrable, and inheritable
What is Fee Simple Absolute?
Levees for improvements, such as sidewalks and waterlines, made to a property
What are Special Assessments?
Form of co-ownership by which each owner holds an undivided interest in real property as if he or she were the sole owner; characterized by unity of possession
What is Tenancy in Common?
Form of ownership in which a corporation holds title and the owners purchase shares of stock in the corporation and receive a proprietary lease
What is a Cooperative?
Form of ownership in which the airspace is owned in severalty, and the land and buildings are owned as tenants in common
What is a Condominium?
Lessee's interest in the leased premises
What is Leasehold Interest?
What is a General Lien?
Legal notice or notice to the world by recorded documents
What is Constructive Notice?
A special limitation with a possibility of reverter
What is Fee Simple Defeasible?
Lessor's interest in a leased property
What is Leased Fee Interest?
Limited Liability Company
What is an LLC?
Form of joint ownership held by spouses during marriage; characterized by unities of time, title, interest, possession, and person
What is Tenancy by the Entirety?
Police power, eminent domain, taxation, and escheat
What are Government Powers?
Landlord breaches the lease and tenant must leave the premises
What is Constructive Eviction?
An easement that involves two tracts of land, one a dominant estate and the other a servient estate
What is an Appertenant Easement?
The process of changing an apartment building to a condominium
Formed when two or more people unite and pool their resources to own, develop, and/or operate an investment
What is a Syndicate?
Regulation of land use to control development in high-risk, flood-prone, or geological areas
What are Special Study Zones?
A lease with a definite beginning and a definite ending date
What is an Estate for Years?
A lease that will automatically renew until proper notice to terminate has been given
What is Periodic Tenancy?
After the lease expires, a tenant remains in the property without the consent of the landlord
What is Tenancy at Sufferance?