Comprehensive Real Estate Principles: Land Use Control, Easements, Liens, Estates, and Co-Ownership

Flashcards defining core vocabulary concepts including land use control, easement types, liens, co-ownership structures, and estate types based on lecture notes.

Land Use Control

The regulation of land carried out publicly by the government through zoning, and privately by HOAs and developers to maintain property values.

Easement

The right to use and enjoy property belonging to someone else, such as a boardwalk.

Easement in Gross

An easement that affects one or many properties, such as conservation easements, pipeline easements, and electric transmission line easements.

Easement Appurtenant

An easement granting the right to use a neighboring property, such as ingress/egress easements and shared driveway easements.

Parcel Servient

The land burdened by an easement where the owner cannot put things on certain parts of the land.

Parcel Dominant

The neighboring property that benefits from an easement appurtenant over a servient parcel.

Easement by Implication

An easement created by legal implication, typically used for utilities.

Easement by Necessity

An easement granted for property access so there is no need to use a boat or helicopter to reach the property.

Easement by Prescription

An easement established when a party wants to use another person's property.

License

A temporary right to use property, comparable to a ticket to go to a game.

Adverse Possession

The right of a citizen to take another person's property, typically occurring in farmland or timberland where owners do not know their property lines.

Requirements for Adverse Possession

The $5$ required elements to claim adverse possession: hostile trespassing, actual use (e.g., putting up a fence), open and notorious use (not hiding), continuous use for $7$ to $30$ years, and exclusive use.

Lien

A hold or claim on a property that stops a sale or could force the sale of that property.

Mechanic's Lien

A lien placed on a property when paying someone to do work on it, such as a plumber or electrician.

Tax Lien

A lien placed on a property when an owner fails to pay ownership or property taxes.

Mortgage Lien

An automatic lien held on a property until the mortgage is paid off, preventing the property from being sold until it is clear.

Judgment Lien

A lien resulting from court actions, such as bankruptcy, divorce, or a lawsuit.

Tenancy in Common

A co-ownership form where individuals can own fractional interests with differing equity (e.g., $50\%$, $30\%$, $20\%$), and if an owner dies, their percentage goes to their will/heir rather than co-owners.

Joint Tenancy

A co-ownership form featuring the Right of Survivorship, where the surviving owner receives the deceased owner's share upon death.

Dower

A legal right where the wife takes ownership of property upon the husband's death.

Community Property

A form of co-ownership in marriage where each partner has equal ownership, resulting in $50\%$ going to the survivor and $50\%$ going to heirs upon death.

Freehold Estate

A property estate representing ownership with no time limit.

Leasehold Estate

A property estate that grants the right to rent.

Fee Simple Estate

A type of freehold estate representing full property ownership with all rights.

Life Estate

A type of freehold estate representing property ownership for the duration of a person's life.