Estates in Land
it is the highest interest in real estate and entitles its owner to all rights of the property.
What is Fee Simple?
It is the right to use the land of another for a particular purpose.
What is an Easement?
These are the 4 types of governmental powers.
What is Police Power, Eminent Domain, Taxation, and Escheat? (PETE)
This type of ownership can be a corportation or individual.
What is Tenant in Severalty?
The process by which boundaries are measured by calculating the dimensions and area to determine the exact location of a piece of land.
What is a survey?
This estate is limited in use and wording in its limitation may include words such as, "so long as", "while" or "during".
What is fee simple determinable?
It is a personal privilege to enter another's land for a specific purpose and may be terminated or canceled by the owner, or ended with the sale of the land.
What is a license?
The process by which the government exercises its right to acquire privately owned real estate for public use.
What is Condemnation?
Tenants by the Entirety is allowed for these two classifications of people.
What is married couples and reciprocal beneficiaries?
Point of Beginning is often found in this type of land description.
What is Metes and Bounds?
Dower, curtesy, and homestead are categorized under these types of estates.
What is a Legal Life Estate?
This type of easement is created when an owner sells a parcel of land that has no legal access to a street or public way except over the seller's remaining land.
What is an Easement by Necessity?
When private land is transferred to the state when an owner dies with no heirs or will.
What is Escheat?
Classified by: 2 or more owners, undivided equal interest, right of survivorship, and is terminated if interest is transferred.
What is Joint Tenancy?
Townships are basic units of this type of survey system.
What is the Rectangular (Government) Survey System?
This type of life estate is based on the lifetime of a person other than the life tenant.
What is pur autre vie?
The parcel over which an easement runs is called this.
What is a Servient Tenement?
A charge on real estate to fund the operation of governmental services.
What is Taxation?
These 4 elements are needed in order to create a Joint Tenancy.
What is PITI - Possession, Interest, Time, and Title?
The number of square feet in one acre.
What is 43,560 sq ft?
The person to whom the property will pass when a life estate ends.
Who is a remainderman?
An electric company might take a right to or interest in the right to use a portion of someone's land.
What is an Easement in Gross?
The state's authority is passed on to counties through legislation called this.
What is Enabling Acts?
Each party can hold a fractional ownership interest and if no fractions are stated, the tenants are presumed to hold equal shares.
What is Tenants in Common?
What is Division-Zone-Section-Plat-Parcel-CPR?