Property Rights and Legal Concepts Flashcards

In US real property law, which term describes the full bundle of rights associated with real property ownership?

Answer: Fee simple absolute

Fee simple absolute is the most complete form of ownership, conveying the entire bundle of rights without limitation.

Which right within the bundle of rights allows an owner to sell, lease, or give away property?

Answer: Right of disposition

The right of disposition (alienation) allows the owner to transfer or encumber the property as they choose.

An easement appurtenant benefits:

Answer: An adjacent parcel of land

An easement appurtenant is attached to and benefits a dominant estate (adjacent parcel), running with the land upon transfer.

A life estate grants ownership rights that terminate upon:

Answer: The death of a specified person

A life estate grants ownership measured by the life of a specified person, after which the interest reverts or passes to a remainderman.

Police power, eminent domain, taxation, and escheat are collectively known as:

Answer: Governmental limitations on private property rights

These four powers — PETE — are governmental limitations that can restrict or transfer private property rights without the owner's consent.

Which type of deed provides the greatest protection to a buyer, warranting title against all claims from any source?

Answer: General warranty deed

A general warranty deed provides the broadest protection, with the grantor warranting title against all past and future claims from any party.