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These flashcards cover key concepts related to property rights, including government powers, types of estates, and definitions of important terms.
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What is the relationship between individual property rights and government rights?
Individual property rights are subordinate to government rights.
What is police power in the context of land use?
Police power is the authority that allows governments to regulate property use for public health, safety, and welfare.
What is eminent domain?
The government's power to take private property for public use.
What is condemnation?
The process by which the government exercises its right of eminent domain.
What must the government provide when it takes private property?
Just compensation to the property owner.
What are general real property taxes used for?
To support the general operation and services of government.
What happens to abandoned property or property of a person who dies intestate without heirs?
The property will escheat to the state.
What are the two types of estates in property law?
Freehold estates of ownership and leasehold estates of possession.
What is a fee simple absolute estate?
The greatest and maximum form of property ownership.
What is a fee simple defeasible ownership?
A qualified fee that has a condition that must be met, or it may revert to the grantor.
What is the difference between fee simple determinable and fee simple subject to a condition subsequent?
With fee simple determinable, the former owner retains a possibility of reverter; with fee simple subject to a condition subsequent, there is a right of reentry if the condition is violated.
What is a life estate?
An estate measured by someone's lifetime, with reversionary or remainder interest.
What is an encumbrance?
Any right, claim, or interest in property held by someone other than the property owner.
What is an easement?
A right of use in someone else's property.