real estate
Study this set o nline at: https://www.cram.co m/flashcards/real-estate-120 6 446 6
Someone hi red to represent a person wi th a vari ety of transacti ons l i ke a property
General agent
manager
General l i en A l i en attached to several properti es
I ntestate N o wi l l
E scheat Process where government takes property when there's no wi l l .
, real estate
Study this set o nline at: https://www.cram.co m/flashcards/real-estate-120 6 446 6
Speci f i c l i en A l i en attached to one speci f i c thi ng l i ke a mortgage to a property
A f orm of depreci ati on caused by probl ems outsi de the property l i nes as i n owni ng
E conomi c obsol escence
a house next to an ai rport or sewage treatment pl ant
A f orm of depreci ati on due to probs i nsi de the property l i nes. D oes not f uncti on
F uncti onal obsol escence
the way modern properti es do
When the property i s physi cal l y f al l i ng apart f or ex saggi ng f l oors, hol e on the
Physi cal deteri orati on
pati o
,real estate
Study this set o nline at: https://www.cram.co m/flashcards/real-estate-120 6 446 6
A ri ght hel d by one person to use the l and of another f or a speci f i c purpose. F or ex
E asement
usi ng a nei ghbors l and to get to your property
An estate i n whi ch you have the excl usi ve ri ght to enj oy the possessi on of a
F reehol d estate
property f or an undef i ned l ength of ti me
D eed E vi dence of transf er
Qui tcl ai m deed I mmedi ate transf er of ti tl e
, real estate
Study this set o nline at: https://www.cram.co m/flashcards/real-estate-120 6 446 6
H i story of ownershi p. I f al l deeds have been recorded then ea owner i s l i nked to
Chai n of ti tl e the previ ous owner. I f the deed was not recorded then the chai n woul d be broken
and a gap woul d be created i n the chai n
Ad val orem Accordi ng to val ue
When someone uses someone el se's property conti nuousl y wi thout permi ssi on f or a
Adverse possessi on
certai n peri od of ti me and eventual l y gai n ti tl e i f nothi ng i s done
Appurtenant easement E asement that runs wi th the l and ex, shared dri veway
Study this set o nline at: https://www.cram.co m/flashcards/real-estate-120 6 446 6
Someone hi red to represent a person wi th a vari ety of transacti ons l i ke a property
General agent
manager
General l i en A l i en attached to several properti es
I ntestate N o wi l l
E scheat Process where government takes property when there's no wi l l .
, real estate
Study this set o nline at: https://www.cram.co m/flashcards/real-estate-120 6 446 6
Speci f i c l i en A l i en attached to one speci f i c thi ng l i ke a mortgage to a property
A f orm of depreci ati on caused by probl ems outsi de the property l i nes as i n owni ng
E conomi c obsol escence
a house next to an ai rport or sewage treatment pl ant
A f orm of depreci ati on due to probs i nsi de the property l i nes. D oes not f uncti on
F uncti onal obsol escence
the way modern properti es do
When the property i s physi cal l y f al l i ng apart f or ex saggi ng f l oors, hol e on the
Physi cal deteri orati on
pati o
,real estate
Study this set o nline at: https://www.cram.co m/flashcards/real-estate-120 6 446 6
A ri ght hel d by one person to use the l and of another f or a speci f i c purpose. F or ex
E asement
usi ng a nei ghbors l and to get to your property
An estate i n whi ch you have the excl usi ve ri ght to enj oy the possessi on of a
F reehol d estate
property f or an undef i ned l ength of ti me
D eed E vi dence of transf er
Qui tcl ai m deed I mmedi ate transf er of ti tl e
, real estate
Study this set o nline at: https://www.cram.co m/flashcards/real-estate-120 6 446 6
H i story of ownershi p. I f al l deeds have been recorded then ea owner i s l i nked to
Chai n of ti tl e the previ ous owner. I f the deed was not recorded then the chai n woul d be broken
and a gap woul d be created i n the chai n
Ad val orem Accordi ng to val ue
When someone uses someone el se's property conti nuousl y wi thout permi ssi on f or a
Adverse possessi on
certai n peri od of ti me and eventual l y gai n ti tl e i f nothi ng i s done
Appurtenant easement E asement that runs wi th the l and ex, shared dri veway
