Property and Ownership Laws Flashcards
7 cards from real Real Estate License practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Property and Ownership Laws flashcards as text
When a person dies without a will and with no heirs, their property passes to the state through:
Answer: Escheat
Escheat transfers property to the state when an owner dies intestate with no legal heirs.
A life estate gives the holder the right to use property:
Answer: Only for the duration of a specified person's life
A life estate lasts only for the lifetime of a named person and cannot be inherited.
A neighbor builds a fence two feet onto the adjoining owner's land. This is an example of:
Answer: An encroachment
An encroachment is an unauthorized intrusion of an improvement onto another's property.
Acquiring legal title by openly and continuously occupying another's land for a statutory period is:
Answer: Adverse possession
Adverse possession transfers title through open, notorious, continuous, and hostile occupation for the statutory period.
A private agreement that restricts how property in a subdivision may be used is called a:
Answer: Deed restriction or restrictive covenant
Deed restrictions, or restrictive covenants, are private limitations placed on property use by an owner or developer.
Which estate gives an owner the most complete form of ownership with rights of inheritance?
Answer: Fee simple absolute
Fee simple absolute is the highest and most complete form of ownership recognized by law.
A married couple owning property as a single legal unit with survivorship in states that permit it hold title as:
Answer: Tenancy by the entirety
Tenancy by the entirety is a form of ownership available only to married couples with right of survivorship.